Fertiglobe, the strategic partnership between ADNOC and OCI, reported on Tuesday a revenue of $1,471 million in the second quarter of 2022, a 105 percent rise compared to the same period last year.
The 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 guidance of at least $700 million.
“Q2 2022 marks another quarter of solid performance, driven by a favourable price backdrop supported by strong in-season demand, tight market balances and elevated gas prices in Europe, as well as higher sales volumes due to a phasing of some shipments from Q1 2022 to this quarter,” Ahmed El-Hoshy, Chief Executive Officer of Fertiglobe, said. “We are pleased to announce an H1 2022 dividend of $750 million, above our previous guidance of at least $700 million, driven by strong earnings, healthy cash conversion and our robust capital structure.”
