Abu Dhabi – Mubasher: Fertiglobe reported 173% higher net profits attributable to the shareholders, reaching $197.90 million during the first quarter (Q1) of 2026, compared to $72.60 million in the year-ago period.
The revenues hiked by 32% YoY to $915.10 million as of 31 March 2026 from $694.90 million, according to the consolidated financial results.
Basic and diluted earnings per share (EPS) climbed to $0.024 in Q1-26 from $0.009 in Q1-25.
Egyptian operations continued to achieve record-breaking performance in the three-month period that ended on 31 March 2026, with no downtime across units and operating rates above 105% at EFC.
CEO of Fertiglobe, Ahmed El Hoshy, commented: “Our Q1-26 performance reflects the strength and resilience of Fertiglobe’s platform, with disciplined execution translating into strong earnings growth despite a complex operating environment due to the conflict in the Middle East.”
“Safety remains our highest priority, and I am grateful to our teams for maintaining safe and reliable operations across the portfolio in these conditions, delivering record performance in Egypt and excellent urea utilization rates of 96% across the platform, a remarkable improvement from 87% in Q1-25,” El-Hoshy added.
He noted: “Looking ahead, we remain focused on advancing our Grow 2030 Strategy with discipline and pace. We have already implemented over 40% of our targeted growth initiatives, alongside delivering our cost optimization program on a run-rate basis, strengthening our return profile and reinforcing our pathway to sustained earnings and free cash flow growth.”
Dividends
Fertiglobe paid and committed to $2.90 billion in capital returns to shareholders since its initial public offering (IPO), including execution on its 2.50% share buyback program.
As of 31 March 2026, Fertiglobe repurchased 111 million shares, representing 1.34% of total outstanding shares (at a buyback cost of $74 million).
Last year, Fertiglobe witnessed 41% higher revenues at $2.82 billion, compared to $2 billion in 2024.
