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OCI Highlights : OCI N.V. Reports Fourth Quarter 2020 Results Financial Summary ● Markets Q4 2020 Results Report Amsterdam , The Netherlands / 25 February 2021 Revenues increased 22 % to $ 1,036 million and adjusted EBITDA increased 12 % to $ 266 million in Q4 2020 YOY OCI - produced volumes sold increased 15 % to 3.4 million metric tons in Q4 2020 compared to Q4 2019 Adjusted net loss of $ 45 million in Q4 2020 compared to adjusted net loss of $ 43 million in Q4 2019 Net debt of $ 3.7 billion as of 31 December 2020 , down $ 187 million from 30 September 2020 , resulting in a reduction of $ 332 million for the full year 2020 Based on the current market outlook for selling prices and our growth expectations for production and sales volumes for 2021 , we expect a drop in net leverage to below 3.0x by year - end 2021 Outlook for nitrogen markets is positive for 2021 , supported by healthy farm economics and strong demand growth The recent increases in feedstock prices support higher nitrogen prices and have strengthened OCI's competitive position on the global cost curve The recent extreme cold weather and spike in gas prices in the US has resulted in temporary downtime at OCI's US plants , but the impact was meaningfully more than offset by cash gains from physical and financial gas hedges Methanol markets have strengthened significantly through Q4 and into 2021 Corporate and ESG Update OCI solidifies its leading position in the growing biofuels market with a new agreement to supply Essar Oil ( UK ) Ltd with bio - methanol as part of a biofuel alcohol mix OCI continues its strategic review to explore multiple value - enhancing opportunities for its methanol group , which is benefiting from a considerably stronger outlook Statement from the Chief Executive Officer - Ahmed El - Hoshy : Q4 2020 strongest quarter of the year 1 " We are pleased that we ended the year with a strong quarter of robust volume growth and healthy cash generation . As a result , we achieved a reduction in net debt of $ 332 million during 2020 , despite selling prices for all our products nearing trough cycle levels during the year and on average at materially lower levels than in 2019. We look forward to delivering another year of robust volume growth in 2021 , against a backdrop of nitrogen markets that have not looked as positive since at least 2015 . Favourable market outlook for 2021 underpinned by healthy fundamentals