Abu Dhabi-based Fertiglobe, the world's largest seaborne exporter of urea and net ammonia combined, delivered a strong first quarter for 2026, with revenues climbing 32% year-on-year to AED 3.36 billion on the back of elevated urea and ammonia pricing. Adjusted EBITDA rose 31% to AED 1.26 billion, while adjusted net profit attributable to shareholders surged 98% to AED 532 million.
Urea operating rates reached 96% – up from 87% a year earlier – driven by the company's Manufacturing Improvement Plan. Egyptian facilities achieved record output, running above 105% capacity. A tax rate reduction for UAE subsidiary Fertil, from 25% to 15–20%, provided further margin support.
Net debt was reduced to AED 3.02 billion from AED 3.69 billion at end-2025. Fertiglobe said it has now implemented approximately 43% of the growth initiatives under its Grow 2030 strategy.
Gulf Economist Staff Writer