Fertiglobe delivers strong Q2 2022 with revenue growth of 105%

Fertiglobe delivers strong Q2 2022 with revenue growth of 105%

Highlights:

- Higher selling prices and sales volumes see Q2 2022 revenue increase 105% to $1,471 million year-on-year, with adjusted EBITDA up 155% to $770 million

- Q2 2022 adjusted net profit increased 270% versus Q2 2021 to $438 million

- Free cash flow of $789 million in Q2 2022 versus $328 million in Q2 2021 and net cash position of $445 million as of 30 June 2022 support growth opportunities and attractive H1 2022 dividend pay-out of $750 million, above previous guidance

- First-time investment grade ratings by S&P, Moody's and Fitch (BBB-, Baa3 and BBB-, respectively) recognize Fertiglobe’s strong free cash flow generation, conservative financial policy and robust outlook

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 Q2 2022 revenues increased 105% to $1,471 million, while adjusted EBITDA grew 155% to $770 million compared to Q2 2021. Free cash flow increased to $789 million in Q2 2022 from $328 million in Q2 2021, supporting a first half dividend of $750 million, above previous