OCI (OCI) Q1 2026 earnings summary

Executive summary

• Completed sale of OCI Ammonia Holding to AGROFERT and handover of Beaumont New Ammonia to Woodside, monetizing Methanex stake during the quarter.

• Focus remains on disciplined cost and balance sheet management, with ongoing evaluation of a potential transaction for OCI Nitrogen.

• Enterprise Chamber process ongoing, with a decision on the Orascom transaction expected by end of June.

Financial highlights

• Adjusted EBITDA for OCI Nitrogen (excluding OCI Ammonia Holding) was $52 million in Q1 2026.

• Own-produced sales volumes reached 539 thousand tonnes, up from 484 thousand tonnes in Q1 2025.

• Operating free cash flow for OCI Nitrogen was negative $33 million, mainly due to a $76 million working capital outflow.

• Corporate costs were $18.5 million, above previous guidance due to ongoing strategic processes and non-recurring items.

• Net cash position improved to $695 million as of March 31, 2026, and approximately $1.08 billion as of May 29, 2026.

Outlook and guidance

• Near-term cash flow expected to be impacted by planned turnarounds and normalization of working capital.

• Corporate costs for 2026 anticipated to exceed the annualized Q1 figure due to project-related commitments and ongoing strategic activities.

• Performance remains sensitive to external factors such as geopolitical developments and energy market conditions.