OCI N.V. (GB:0QGH) has released an update.
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OCI Global experienced a revenue decline of 12% year-over-year in Q2 2024, with a 9% drop in adjusted EBITDA, primarily due to lower nitrogen prices, higher gas costs, and a planned maintenance shutdown. Despite these challenges, the company maintained high asset utilization rates and saw an increase in own-produced sales volumes, signaling strong earnings potential. OCI is also advancing its sustainability agenda with the introduction of green methanol supplies and the production of bio-melamine, while also planning to use proceeds from recent divestments to reduce debt and return substantial capital to shareholders.
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