LONDON (dpa-AFX) - OCI Global (OCI.AS, OCINY.PK), which is in deal to be combined with Orascom Construction Plc, reported sharply lower profit in the first half of fiscal 2026, mainly reflecting lower one-time gains and an impairment charge at OCI Nitrogen.
In the first half, net profit attributable to shareholders was $1 million, compared with $343.1 million a year ago.
Earnings per share attributable to owners of the Company were $0.004, compared to $1.626 a year ago.
OCI Nitrogen segment reported a net loss attributable to shareholders of $175 million, compared with a net loss of $12 million a year ago.
OCI Nitrogen has been classified as held for sale as of June 1 following the deal with AGROFERT a.s. for the sale of stake in Nitrogen Intermediate Holding B.V., its parent.
The results of the Nitrogen Europe business, including the results of the Ammonia Distribution business, are presented as discontinued operations in accordance with IFRS 5.
The latest results included a $238 million gain on the disposal of OCI Ammonia Holding, largely offset by an impairment charge at OCI Nitrogen of $215 million. The prior-year result included a $688 million gain on the sale of OCI Methanol.
Profit from discontinued operations was $1.0 million, compared to $343.1 million last year.
The company noted that as of June 30, OCI's remaining assets and liabilities, including OCI Nitrogen, are classified as held for sale in connection with the proposed combination with Orascom. With no Continuing Operations remaining, the Group's results are presented entirely within Discontinued Operations.
OCI Nitrogen segment reported revenue of $534 million, compared with $566 million in the prior year.
OCI said it continues to progress its proposed combination with Orascom Construction, announced on December 9, 2025 to would establish an Abu Dhabi-anchored infrastructure and investment platform.
Completion of the Combination is currently expected in the fourth quarter, subject to shareholder approval and satisfaction of applicable transaction conditions.
In Amsterdam, OCI N.V. shares closed Monday's trading at 4.0700 euros, down 0.39 percent.
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