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OCI Highlights : OCI N.V. Reports Second Quarter 2021 Results Financial and Outlook ● Q2 2021 Results Report Amsterdam , The Netherlands / 2 August 2021 Revenues increased 67 % to $ 1.5 billion and adjusted EBITDA increased 144 % to a record $ 535 million in Q2 2021 as compared to Q2 2020 Revenues increased 53 % to $ 2.6 billion and adjusted EBITDA 139 % to $ 987 million in H1 2021 versus H1 2020 • Adjusted net income was $ 121 million in Q2 2021 compared to adjusted net loss of $ 20 million in Q2 2020 Net debt was $ 3.0 billion as of 30 June 2021 , down $ 390 million from 31 March 2021 resulting in a total reduction of $ 697 million since 31 December 2020 • Trailing net debt / adjusted EBITDA was 2.1x as of 30 June 2021 ; based on the current outlook for volumes and pricing , we expect a drop in net leverage to below our target of 2x through the cycle by year - end 2021 OCI anticipates being able to return capital to shareholders in 2022 given the current trajectory of product markets and company leverage ESG and Business Updates ESG ratings : OCI has been double upgraded by Sustainalytics and MSCI to Medium and BBB , respectively , to be amongst the best performers in the nitrogen sector Fertiglobe has acquired an additional 15 % stake in EBIC from a KBR - led consortium for $ 43 million in cash , bringing Fertiglobe's stake in EBIC to 75 % , and further streamlining the group's ownership structure in the only world - scale dedicated ammonia export plant in Egypt OCI's current offering of low carbon products continues to expand with the ability to produce up to 365 ktpa blue ammonia in Texas and pursuit of additional near - term blue ammonia opportunities across its platform In June , OCI announced that Fertiglobe is joining TA'ZIZ , an ADNOC / ADQ platform , as partner in a 1 mpta world scale blue ammonia project in Abu Dhabi , with FID in 2022 and start - up targeted for 2025 • FUREC , a partnership with RWE to purchase green and circular hydrogen from mixed waste gasification , was invited amongst the best ranked participants to submit its application for the 2nd stage of the EU Innovation Fund Statement from the Chief Executive Officer - Ahmed El - Hoshy : Record earnings , free cash flow accelerating , net debt reduced by a further $ 390 million 1 " We are pleased that our markets have recovered from a multi - year downturn at the same time that we have begun to fully benefit from the ramp - up of our state - of - the - art production platform . We have reported another record quarter and our FCF generation has accelerated . As a result , we are rapidly approaching our through - the - cycle target of 2x net leverage .