Fertiglobe announced that revenues for Q1 2022 increased 118 percent to $1.2 billion, while adjusted EBITDA grew 171 percent to $625 million compared to Q1 2021.
Fertiglobe was created as a strategic partnership between ADNOC and OCI in 2019.
Adjusted net income in Q1 2022 was $361 million, increasing by 332 percent year-on-year, while free cash flow increased significantly to $521 million from $151 million in Q1 2021.
In March, Fertiglobe was announced as a founding constituent of the FTSE Russell ADX 15 Index, representing the 15 largest and most liquid companies traded on the Abu Dhabi Securities Exchange.
Further, Fertiglobe continues to capture value accretive opportunities from emerging demand for clean ammonia.
The company has multiple initiatives to develop blue/green ammonia as a solution to decarbonize industries that make up around 90% of current global greenhouse gas emissions.
It is capitalizing on growth opportunities from emerging demand for clean ammonia.
Fertiglobe’s dividend policy is to substantially distribute all of the company’s distributable free cash flow after providing for growth opportunities, while maintaining an investment-grade credit profile.
Fertiglobe raised its H1 2022 dividend guidance to at least $700 million, well ahead of previous guidance of at least $200 million.
The exact dividend amount, payable in October 2022, will be announced with the Q2 results in August 2022.
