OCI N.V. Quarterly condensed consolidated financial statements
For the nine-month period ended 30 September 2021 (unaudited)
OCI N.V. QUARTERLY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS / SEPTEMBER 2021
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT
30 September | 31 December | ||
$ millions | Note | 2021 | 2020 |
Assets | |||
Non-current assets | |||
Property, plant and equipment | (8) | 5,739.6 | 6,244.3 |
Right-of-use assets | 250.3 | 279.4 | |
Goodwill and other intangible assets | (9) | 485.3 | 486.5 |
Trade and other receivables | 6.3 | 3.5 | |
Equity-accounted investees | 538.7 | 468.7 | |
Financial assets at fair value through other comprehensive income | 23.3 | 30.0 | |
Deferred tax assets | (10) | 97.5 | 0.8 |
Total non-current assets | 7,141.0 | 7,513.2 | |
Current assets | |||
Inventories | 305.7 | 293.8 | |
Trade and other receivables | 837.5 | 600.9 | |
Income tax receivables | 2.7 | 2.8 | |
Cash and cash equivalents | 753.6 | 686.3 | |
Total current assets | 1,899.5 | 1,583.8 | |
Total assets | 9,040.5 | 9,097.0 | |
OCI N.V. Q3 Quarterly Report 2021 2
OCI N.V. QUARTERLY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS / SEPTEMBER 2021
CONSOLIDATED STATEMENT OF FINANCIAL POSITION CONTINUED AS AT
30 September | 31 December | ||
$ millions | Note | 2021 | 2020 |
Equity | |||
Share capital | 5.6 | 5.6 | |
Share premium | 6,316.3 | 6,316.3 | |
Reserves | (355.7) | (338.4) | |
Retained earnings | (4,567.6) | (4,851.8) | |
Equity attributable to owners of the Company | 1,398.6 | 1,131.7 | |
Non-controlling interests | (11) | 1,185.6 | 1,540.1 |
Total equity | 2,584.2 | 2,671.8 | |
Liabilities | |||
Non-current liabilities | |||
Loans and borrowings | (12) | 3,395.5 | 4,226.9 |
Lease obligations | 235.8 | 248.6 | |
Trade and other payables | (13) | 23.5 | 25.7 |
Provisions | 11.9 | 3.0 | |
Deferred tax liabilities | 546.4 | 515.5 | |
Total non-current liabilities | 4,213.1 | 5,019.7 | |
Current liabilities | |||
Loans and borrowings | (12) | 404.0 | 189.7 |
Lease obligations | 38.3 | 43.6 | |
Trade and other payables | (13) | 1,576.3 | 1,003.6 |
Provisions | (18) | 145.8 | 158.3 |
Income tax payables | (16) | 78.8 | 10.3 |
Total current liabilities | 2,243.2 | 1,405.5 | |
Total liabilities | 6,456.3 | 6,425.2 | |
Total equity and liabilities | 9,040.5 | 9,097.0 | |
The notes on pages 8 to 14 are an integral part of these condensed consolidated financial statements.
OCI N.V. Q3 Quarterly Report 2021 3
OCI N.V. QUARTERLY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS / SEPTEMBER 2021
CONSOLIDATED STATEMENT OF
PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Three-month | Three-month | Nine-month | Nine-month | ||
period ended | period ended | period ended | period ended | ||
$ millions | Note | 30 September 2021 | 30 September 2020 | 30 September 2021 | 30 September 2020 |
Revenue | (17) | 1,537.3 | 751.9 | 4,119.8 | 2,438.4 |
Cost of sales | (14) | (1,264.6) | (671.5) | (3,102.1) | (2,154.0) |
Gross profit | 272.7 | 80.4 | 1,017.7 | 284.4 | |
Other income | - | 1.0 | 1.1 | 14.4 | |
Selling, general and administrative expenses | (14) | (67.9) | (59.1) | (190.6) | (168.3) |
Other expenses | 0.4 | 0.4 | (0.1) | 0.1 | |
Operating profit | 205.2 | 22.7 | 828.1 | 130.6 | |
Finance income | (15) | 23.2 | 79.9 | 29.6 | 111.8 |
Finance cost | (15) | (70.8) | (126.6) | (211.3) | (269.3) |
Net finance cost | (15) | (47.6) | (46.7) | (181.7) | (157.5) |
Income from equity-accounted investees (net of tax) | 18.4 | 3.3 | 50.2 | (24.1) | |
Profit / (loss) before income tax | 176.0 | (20.7) | 696.6 | (51.0) | |
Income tax | (16) | (23.7) | (8.5) | (96.4) | (11.9) |
Net profit / (loss) | 152.3 | (29.2) | 600.2 | (62.9) | |
Other comprehensive income: | |||||
Items that are or may be reclassified subsequently to profit or loss | |||||
Movement in hedge reserve | 11.1 | 0.9 | 3.4 | 1.5 | |
Currency translation differences | (15.5) | (38.8) | (35.4) | (86.4) | |
Currency translation differences from equity-accounted investees | (1.1) | 1.2 | (1.6) | 0.7 | |
Items that will not be reclassified to profit or loss | |||||
Changes in the fair value of financial assets at fair value through other comprehensive income | (1.0) | 0.5 | (6.7) | (3.0) | |
Other comprehensive income, net of tax | (6.5) | (36.2) | (40.3) | (87.2) | |
Total comprehensive income | 145.8 | (65.4) | 559.9 | (150.1) | |
Profit / (loss) attributable to: | |||||
Owners of the Company | 30.8 | (37.0) | 275.7 | (120.8) | |
Non-controlling interests | 121.5 | 7.8 | 324.5 | 57.9 | |
Net profit / (loss) | 152.3 | (29.2) | 600.2 | (62.9) | |
Total comprehensive income attributable to: | |||||
Owners of the Company | 34.0 | (73.5) | 255.1 | (176.2) | |
Non-controlling interests | 111.8 | 8.1 | 304.8 | 26.1 | |
Total comprehensive income | 145.8 | (65.4) | 559.9 | (150.1) | |
Earnings / (loss) per share (in USD) | |||||
Basic earnings / (loss) per share | 0.147 | (0.176) | 1.314 | (0.576) | |
Diluted earnings / (loss) per share | 0.146 | (0.176) | 1.306 | (0.576) |
The notes on pages 8 to 14 are an integral part of these condensed consolidated financial statements. | OCI N.V. Q3 Quarterly Report 2021 | 4 |
OCI N.V. QUARTERLY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS / SEPTEMBER 2021
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Equity attributable | |||||||
Retained | to owners of the | Non-controlling | Total | ||||
$ millions | Share capital | Share premium | Reserves | earnings | Company | interests | equity |
Balance at 1 January 2020 | 5.6 | 6,316.3 | (237.8) | (4,726.6) | 1,357.5 | 1,461.2 | 2,818.7 |
Net profit / (loss) | - | - | - | (120.8) | (120.8) | 57.9 | (62.9) |
Other comprehensive income | - | - | (55.4) | - | (55.4) | (31.8) | (87.2) |
Total comprehensive income | - | - | (55.4) | (120.8) | (176.2) | 26.1 | (150.1) |
Impact difference in profit sharing non-controlling interests | - | - | - | - | - | 15.4 | 15.4 |
Dividend to non-controlling interest | - | - | - | - | - | (26.4) | (26.4) |
Treasury shares sold / delivered | - | - | 3.6 | (3.6) | - | - | - |
Business combination Fertiglobe | - | - | - | 48.3 | 48.3 | (59.6) | (11.3) |
Share-based payments | - | - | - | 6.0 | 6.0 | - | 6.0 |
Balance at 30 September 2020 | 5.6 | 6,316.3 | (289.6) | (4,796.7) | 1,235.6 | 1,416.7 | 2,652.3 |
Balance at 1 January 2021 | 5.6 | 6,316.3 | (338.4) | (4,851.8) | 1,131.7 | 1,540.1 | 2,671.8 |
Net profit / (loss) | - | - | - | 275.7 | 275.7 | 324.5 | 600.2 |
Other comprehensive income | - | - | (20.6) | - | (20.6) | (19.7) | (40.3) |
Total comprehensive income | - | - | (20.6) | 275.7 | 255.1 | 304.8 | 559.9 |
Impact difference in profit sharing non-controlling interests | - | - | - | - | - | 70.9 | 70.9 |
Treasury shares sold / delivered | - | - | 4.1 | (4.1) | - | - | - |
Treasury shares acquired | - | - | (0.8) | - | (0.8) | - | (0.8) |
Acquisition of additional shares in EBIC | - | - | - | 6.0 | 6.0 | (44.4) | (38.4) |
Dividend to non-controlling interests1 | - | - | - | - | - | (685.8) | (685.8) |
Share-based payments | - | - | - | 6.6 | 6.6 | - | 6.6 |
Balance at 30 September 2021 | 5.6 | 6,316.3 | (355.7) | (4,567.6) | 1,398.6 | 1,185.6 | 2,584.2 |
The notes on pages 8 to 14 are an integral part of these condensed consolidated financial statements.
1Dividend to non-controlling interest is primarily related to Fertiglobe's distributions to its minority shareholder ADNOC (USD 504.0 million, excluding USD 39.3 million prepayment of Sorfert dividend which is expected to be approved by shareholders in Q4 2021) and Sorfert's distribution to its minority shareholder Sonatrach (USD 179.4 million)
OCI N.V. Q3 Quarterly Report 2021 5
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OCI NV published this content on 08 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2021 05:07:04 UTC.
