OCI NV, Amsterdam, remained in the negative column during
the third quarter, reporting a net loss attributable to shareholders of $182.5
million, and deepening the net loss of a year-ago of $15.0 million.
Third-quarter adjusted net loss attributable to shareholders came in at $119.7
million versus a $14.5 million net loss in the same prior-year period.
Revenues were down 18 percent at $633.9 million, from $773.5
million a year-ago. EBITDA came in 50 percent lower at $105.8 million against
the previous year’s $213.1 million, while adjusted EBITDA was 53 percent off at
$107.2 million, down from $229.9 million.
The company cited lower production resulting from planned
turnarounds and debottlenecking programs at 11 plants across four nitrogen
production sites, together with lower methanol and ammonia prices as the
primary drivers behind the downturn in quarterly EBITDA compared with a
year-ago.
The results were also adversely impacted by an unplanned
shutdown at the OCI’s Natgasoline methanol plant in Beaumont, Texas, from
August to the beginning of November. That shutdown is covered by insurance.
Third-quarter OCI-produced volumes sold
decreased 5 percent to 2.2 million mt. Own-produced fertilizer sales were 13
percent lower at 1.61 million mt.
