Highlights Q3 2016
- Own-produced volumes sold increased 42% in Q3 2016 compared to same quarter last year
- Egypt urea utilization rate c.80% during Q3 2016 and 100% in September and October 2016
- Selling prices reached bottom in the third quarter of 2016, recovery in October and November
- All short term debt repaid or refinanced, no debt maturing until late 2018
- Net debt stood at c.$4.3 billion as of 30 September 2016, unchanged from 30 June 2016
- Iowa Fertilizer Company start-up is imminent, first product expected in December 2016
- Natgasoline 66.8% complete as at 30 September 2016
- Cost savings programme of US$100 million, of which US$65 million already in place and to be reflected in 2017
- Additionally, c.$40 million annual benefits expected from EGP devaluation
An investors and analysts conference call will be hosted on Monday 21st November at 4:30 PM CET (3:30 PM GMT, 10:30 AM EST) by Nassef Sawiris, Chief Executive Officer, and Salman Butt, Chief Financial Officer.
The dial-in numbers for the conference call are:
Standard International: +44 (0) 1452 560304
United Kingdom FreeCall: 08000 738 965
Netherlands FreeCall: 08000 227 438
United States FreeCall: 1 (866) 926 5708
Conference ID: 23209719
A conference call replay will be available following from 19:00 GMT 21st November until 19th December 2016.
The replay access numbers are:
Standard International: +44 (0) 1452 550 000
Netherlands: 08000 234 610
United States: 1 (866) 247 4222
Conference ID: 23209719
