Professional
Added to YB: 2024-05-08
Pitch date: 2024-05-03
OCI.AS [bullish]
OCI N.V.
-30.15%
current return
Author Info
Massif Capital invests in Basic Materials, Energy, and Industrial businesses, creating a unique portfolio that produces uncorrelated long-term capital appreciation. Follow on Twitter/X.
Company Info
OCI N.V. produces and distributes hydrogen-based and natural gas-based products to agricultural, transportation, and industrial customers in Europe, the Americas, the Middle East, Africa, Asia, and Oceania.
Market Cap
EUR 1.6B
Pitch Price
EUR 4.21
Price Target
39.94 (+1259%)
Dividend
N/A
EV/EBITDA
-2.38
P/E
-4.14
EV/Sales
0.35
Sector
Chemicals
Category
special_situation
Massif Capital Portfolio Holding: OCI N.V.
OCI.AS: Fertilizer co w/ strategic global assets. Sold Abu Dhabi & Iowa ops for $6.2B cash (~mkt cap). Mgmt to return ~€12/sh in '24, pay $2B debt, fund TX plant. Remaining biz at 6x mid-cycle EBITDA worth €18/sh vs €13 now. Upside: 37-57% IRR w/ cash return. Risk: Public markets value industrial assets lower than pvt buyers.
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