Fertiglobe H1 revenue hits $1.26bn, up 20%

05/08/2025 03:19 AST

Fertiglobe, the world's largest seaborne exporter of urea and ammonia combined, reported a revenue of $566 million in the second quarter of 2025, reflecting a 14% year-on-year increase.

Adjusted EBITDA grew 26% to $176 million, with adjusted net profit attributable to shareholders stood at $12 million, representing a 68% increase compared to Q2 2024.

In the first half of 2025, Fertiglobe reported revenue of $1.26 billion, reflecting a 20% increase year-on-year. Adjusted EBITDA for the period stood at $437 million, up 36% year-on-year, while adjusted net profit attributable to shareholders stood at $85 million, representing an 18% decline compared to the prior year, driven by a one-off FX gain in H1 2024.

Ahmed El-Hoshy, CEO of Fertiglobe, commented: "This quarter demonstrated Fertiglobe's growing operational resilience, with an adjusted EBITDA increase of 26% YoY. Fertiglobe remains strategically placed to deliver robust performance and maintain operational continuity amid challenging conditions and I am proud of how our team continued to execute with agility, discipline, while maintaining an unwavering focus on safety and long-term value creation.

"We capitalised on the downtime in Egypt to perform critical maintenance activities, successfully extending the turnaround cycle, with maintenance capex expected towards the lower end of our previous guidance at $145 million. Notably, excluding external factors and turnarounds, our own-produced sales volumes for the second quarter of 2025 would have been up 4% Y-o-Y, while H1 2025 own-produced sales volumes would have increased 7% YoY.

"Building on our strengthened platform and robust commercial capabilities, Fertiglobe is poised to capitalise on the recent recovery in urea prices, which are approximately 20% above Q2 2025 levels. This pricing rebound is supported by robust import demand from key markets such as India and Ethiopia," he said.

"In line with our commitment to deliver value to our shareholders, we propose H1 2025 dividends of at least $100 million (4.4 fils per share), subject to board approval in September 2025 with payment in October 2025. Including the $31 million worth of shares bought back in Q2 2025, Fertiglobe provides one of the highest total return metrics in the industry at the combined $131 million cash returns to shareholders for H1 2025. With the continued support of ADNOC, we remain confident in our strategic path to become a globally integrated nitrogen champion and creating long-term value for shareholders, while continuing to innovate and differentiate our solutions that support global food security and enable the energy transition," El-Hoshy added.

He said the company remains committed to its recently announced Grow 2030 Strategy to become a $1bn+ EBITDA global nitrogen champion by 2030. "This strategy is anchored on four key pillars: operational excellence, customer proximity, nitrogen production expansion, and disciplined low-carbon growth. This includes Project Harvest - a 1 mtpa lower carbon ammonia facility currently under construction - which remains a core part of our decarbonization roadmap. In parallel, we continue to evaluate the development of Project Baytown in collaboration with ADNOC and ExxonMobil, as part of our broader efforts to advance low-carbon ammonia solutions globally."

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