OCI NA

OCI N.V.

Industrial/Transportation


Presented:09/03/2024
Price:€28.60
Cap:$6.72B
Current Price:€25.50
Cap:$5.99B

Presented

Date09/03/2024
Price€28.60
Market Cap$6.72B
Ent Value$8.76B
P/E RatioN/A
Book Value€4.08
Div Yield2.97%
Shares O/S211.08M
Ave Daily Vol369,601
Short IntN/A

Current

Price€25.50
Market Cap$5.99B
OCI NV is a holding company, which engages in the production and distribution of hydrogen-based and natural gas-based products. It operates through the following segments: Methanol US, Methanol Europe, Nitrogen Europe, and Other. The Methanol US segment consists of OCI Beaumont, Natgasoline LLC, the trading entity OCI Methanol Marketing LLC, and OCI USA Inc. The Methanol Europe segment is involved in BioMCN, located at Delfzijl in the Netherlands, OCI Fuels Ltd, OCI Fuels B.V., and OCI Methanol Marketing B.V. The Nitrogen Europe segment focuses on OCI Nitrogen and OCI Terminal Europoort B.V. The Other segment refers to all remaining entities of the group, including OCI Clean Ammonia LLC and the continuing operations of N-7. The company was founded by Onsi Najib Sawiris in 1950 and is headquartered in Amsterdam, the Netherlands.

Publicly traded companies mentioned herein: OCI NV (OCI NA)

Highlights

The presenter is long shares of OCI NV (OCI NA), a fuel business based in the Netherlands. As strategic asset sales close, investors will be left with a $10.50 stub. The presenter estimates that the stub will generate $500 million in mid-cycle EBITDA, and applying a 7x multiple, plus $200 million of net cash, creates a value of $17.50 per share (~70% upside from the $10.50) on top of a $21 dividend per share payout post-deal closures.

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Idea Discussion

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