reports
OCI NV: 1 director
A director at OCI NV bought 1,350,731 shares at 2.634EUR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...
- ING Helpdesk
- David Vagman
- CFA
- Stijn Demeester
OCI N.V./Substantial discount trumps merger concerns/BUY
With the divestment of its Dutch ammonia terminal and distribution activities to Agrofert for €290m, and after asset sales totalling c.US$12bn in gross proceeds, OCI is nearing the final stages of crystallising the value of its asset portfolio. Key uncertainties now reside with (1) the divestment value of last remaining asset OCI Nitrogen, its Dutch fertiliser production, (2) the recoverability of US$362m in contingent contingencies related to the Fertiglobe transaction, and (3) the terms of the...
- ING Helpdesk
Benelux Morning Notes
Colruyt: Only 5 stores left to divest in France. EVS: Lower end of the range becomes the base case, on longer lead times. Fagron: Two EMEA acquisitions and California license for FSS. Kinepolis: “Wicked” achieves solid box office. OCI: Divesting Rotterdam ammonia terminal for €290m. Prosus: 1HFY26 results – on track
Moody's Ratings withdraws OCI N.V.'s CFR due to issuer request
Moody's Ratings (Moody's) has today withdrawn the Ba3 long term corporate family rating (CFR) and the Ba3-PD probability of default rating of OCI N.V. (OCI or the company.), The outlook prior to the withdrawal was negative. RATINGS RATIONALE We have decided to withdraw the rating(s) following a ...
- ING Helpdesk
Benelux Morning Notes
Belgian telecoms: Telenet increases its fixed internet speed at unchanged price Colruyt: FY25/26F profitability guidance maintained despite market share loss Corbion: Keep Calm and Carry On Fagron: Acquires UCP, adding to its 503A health and wellness offering in California GBL: Planning ahead to deliver on its promise OCI: Limited details on Orascom merger, sales process for Nitrogen Europe ongoing TKH Group: Mixed emotions Wolters Kluwer: Launches UpToDate Expert AI
- ING Helpdesk
- ING Helpdesk
Benelux Morning Notes
Ackermans & van Haaren: Solid 1Q25. Ascencio: Resilient results. Gimv: NAV a tad higher than expected, underlying companies surprisingly strong. IBA: Soft start in Technologies, 2025 and 2028 guidance reiterated. OCI: In-line 1Q25 trading update. Vopak: IPO of AVTL - value coming to the surface
- David Vagman
- CFA
- Stijn Demeester
Moody's Ratings downgrades OCI's CFR to Ba2; ratings remain on review ...
Moody's Ratings (Moody's) downgraded OCI N.V.'s (OCI or the company) long-term corporate family rating (CFR) to Ba2 from Ba1 and probability of default rating to Ba2-PD from Ba1-PD. We also downgraded the company's $2 billion backed senior unsecured medium term note (MTN) programme to (P)Ba2 from (P...
- ING Helpdesk
Benelux Morning Notes
GBL: Beat on NAV thanks to strong Affidea & Sanoptis, changes in governance. OCI: 2H24 EBITDA loss on soft Nitrogen Europe and corporate costs. Proximus: Belgian state not yet proposing a new chairman. Universal Music Group: Ackman to sell a 2.7% stake. Vopak: Aiming for acceleration, opportunities promising
- David Vagman
- CFA
- Stijn Demeester
OCI N.V./More cash returns offset reinvestment risk/BUY
We adjust our target price for the recent US$3.3bn cash distribution and as we introduce a 15% discount due to reinvestment risk. We reiterate our BUY, as we believe the current implied discount of c.35% to OCI's fair value is too high, given its strong track record in value creation, capital allocation and return policy.
- ING Helpdesk
- ING Helpdesk
- ING Helpdesk
Benelux Morning Notes
ING Benelux Conference London: Aalberts, Arcadis, Azelis, Barco, Basic-Fit, Brunel International, DEME Group, Euronext, Fagron, Heijmans, Kinepolis, Lotus Bakeries, Melexis, Ontex, Randstad, Recticel, SBM Offshore, TKH Group, Van Lanschot Kempen Other company stories - OCI: Divestment of Methanol to Methanex for US$2.05bn, Staffing: US August temp volumes marginally better trend; NFP jobs miss
BFIT BASIC-FIT NV
SBMO SBM OFFSHORE NV
FAGR FAGRON SA
RAND RANDSTAD NV
LOTB LOTUS BAKERIES NV
REC RECTICEL SA
HEIJM HEIJMANS N.V. CERT
VLK
ARCAD VAN LANSCHOT KEMPEN NV CERT. OF SHS
AALB ARCADIS NV
OCI AALBERTS N.V.
BRNL OCI NV
ONTEX BRUNEL INTERNATIONAL N.V.
MELE ONTEX GROUP N.V.
TWEKA MELEXIS NV
KIN TKH GROUP N.V. CERT
BAR KINEPOLIS GROUP NV
AZE BARCO NV
DEME AZELIS GROUP NV
DEME GROUP NV
- ING Helpdesk
Benelux Morning Notes
Ackermans & van Haaren: Indian participation casts shadow over excellent result of core segments. ASML: Spotlight on export restrictions again. Basic-Fit: Dutch parliament persists in plans to raise VAT for oa Sports to 21%. CFE: Earnings quality improved in challenging markets. Eurocommercial Properties: Better numbers, guidance moved toward the higher end of the range. OCI: IFCO sale successfully closed, cash return unlocked Recticel: Solid 1H24 beat, FY guidance may disappoint. SIF Grou...
- David Vagman
- CFA
- Stijn Demeester
OCI N.V./Harvesting cash/BUY
We reiterate our BUY recommendation as we raise our target price to €35 per share from €31 and reaffirm OCI as an ING Benelux Favourite. With the full divestment of its Texas Blue Clean Ammonia project for €2.35bn to Woodside Energy, OCI is taking a further bold and unexpected step in unlocking value within its portfolio. This deal follows the divestment of its 50% stake in Fertiglobe to Adnoc and IFCo fertilizer asset to Koch for combined gross proceeds of US$7.2bn, with deal closing still expe...
- ING Helpdesk
- David Vagman
- CFA
- Stijn Demeester
OCI N.V./2Q24 preview: Improving operating rates/BUY
We update our forecasts ahead of OCI's 2Q24 results, which we expect to show improving operating rates in both Nitrogen and Methanol, albeit still impacted by a turnaround at Natgasoline. We reiterate our BUY, as we lower our target price to €31 per share, offering c.34% upside. OCI remains on the ING Benelux Favourites list, given (1) its appealing re-rating potential following two transformative divestments which will generate c.US$6.1bn in net cash proceeds, (2) upcoming cash distribution of ...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.