OCI N.V.
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Publicatie datum
30 apr 2013 - 14:39
Statutaire naam
OCI N.V.
Titel
OCI Agrees to Payments in Settlement of Tax Claims with Egyptian Tax Authority, Reports EBITDA of US$ 290.2 MM and Net Loss of US$ 81.2 MM During Q4 Including Extraordinary Charges of US$ 181.2 MM
Bericht
Summary of Consolidated Results for Q4 2012 :
• Consolidated revenues increased 5.3% to US$ 1,492.9 million (EGP 9,088.2 million) versus US$ 1,418.4 million (EGP 8,484.9 million) in Q4 2011
• EBITDA decreased 14.9% to US$ 290.2 million (EGP 1,767.6 million) versus US$ 341.0 million (EGP 2,041.0 million) in Q4 2011
• Consolidated EBITDA margin of 19.4% and Construction Group EBITDA margin of 8.2% during Q4 2012
• Net income decreased 165.3% to a loss of US$ 81.2 million (a loss of EGP 487.4 million) versus US$ 124.4 million (EGP 746.9 million) in Q4 2011 and was impacted by extraordinary charges of US$ 181.2 million (EGP 1,087.2 million). These charges included:
- a one-off US$ 82.0 million in additional interest expense related to delayed interest payments on the agreed to tax settlement with the Egyptian Tax Authority (ETA) for the years 2007-2010
- a one-off US$ 99.2 million goodwill impairment for Egyptian Fertilizer Company (EFC) in light of the natural gas supply environment in Egypt
• Net income excluding the extraordinary charges decreased 22.4% to US$ 96.5 million (EGP 587.5 million) versus US$ 124.4 million (EGP 746.9 million in Q4 2011) and was adversely affected by the following items:
- a production loss at EFC and Egypt Basic Industries Corporation (EBIC) due to low natural gas supply experienced during the quarter
- a drop in the Construction Group’s margin to 8.2% during the fourth quarter of 2012 due to construction cost overruns at Sorfert Algeria
Summary of Consolidated Results for FY 2012:
• Consolidated revenues decreased 0.4% to US$ 5,492.0 million (EGP 33,262.5 million) versus US$ 5,511.3 million (EGP 32,722.0 million) in FY 2011
• EBITDA decreased 19.1% to US$ 1,138.4 million (EGP 6,894.7 million) versus US$ 1,407.0 million (EGP 8,353.7 million) in FY 2011
• Consolidated EBITDA margin of 20.7% and Construction Group EBITDA margin of 9.8% during FY 2012
• Net income decreased 61.7% to US$ 259.5 million (EGP 1,571.6 million) versus US$ 678.
Datum laatste update: 17 maart 2026