Fertiglobe announces 84% boost in Q3 adjusted net profit

Fertiglobe announces 84% boost in Q3 adjusted net profit

- Q3 2022 revenues increased 52% year-on-year to $1.32 billion, with adjusted EBITDA up 64% to $606 million, driven by higher selling prices

- Adjusted net profit was $292 million in Q3 2022, increasing 84% from $158 million in Q3 2021

- Strong cash position supports the Company in pursuing growth opportunities, as well as enabling a highly attractive dividend payout

Abu Dhabi, UAE: Fertiglobe (ADX: FERTIGLB), the strategic partnership between ADNOC and OCI, the world’s largest seaborne exporter of urea and ammonia combined, the largest nitrogen fertilizer producer in the Middle East and North Africa (“MENA”) region, and an early mover in clean ammonia, today reported that its Q3 2022 revenues increased 52% year-on-year to $1.32 billion, while adjusted EBITDA grew 64% to $606 million. Free cash flow increased to $189 million in Q3 2022 from $56 million in Q3 2021, a 237% increase versus the same period last year. Adjusted net profit in Q3 2022 was $292 million, increasing by 84% year-on-year.

For the nine-month period, revenue increased 87% in 2022, to reach $3.97 billion, with adjusted EBITDA of $2.0 billion up 122% and adjusted net profit of $1.10 billion increasing by 203%.

Fertiglobe’s strong cash position supports the Company in pursuing compelling