The company’s financial landscape is currently defined by a comprehensive strategic transformation. Having completed the sale of its global ammonia distribution business to AGROFERT and finalized its exit from Methanex, OCI is now focused on a proposed combination with Orascom Construction. This transition has led the group to classify its remaining assets, primarily OCI Nitrogen, as held for sale, with results now presented entirely through the lens of discontinued operations.

Operational challenges have intensified at OCI Nitrogen, where a USD 215 million non-cash impairment charge hit the balance sheet before its classification as held for sale. While operating profit rose to USD 53 million from a loss of USD 21 million in the previous year, the segment struggled under the weight of elevated European natural gas prices and softening product demand. Management noted that performance deteriorated significantly in July and August, with negative free cash flow reaching USD 16 million for those two months alone.

Shareholders are currently weighing a voluntary all-cash offer from NNS Holding (Cyprus) Limited, valued at EUR 4.10 per share. While independent directors have unanimously recommended the offer, the process remains subject to shareholder approval at an extraordinary general meeting scheduled for October 30. Completion of the broader combination with Orascom Construction is expected by the end of 2026.