Abu Dhabi, UAE – April 29, 2026: Fertiglobe (the ‘Company’) (ADX: FERTIGLB), the world’s largest seaborne exporter of urea and net ammonia combined, the largest nitrogen fertilizer producer in the Middle East and North Africa region, and the exclusive ammonia platform of ADNOC and XRG, today announced its financial results for the three-month ended 31 March 2026 (Q1 2026). In Q1 2026, Fertiglobe reported strong revenues of $915 million, reflecting a 32% Y-o-Y increase, while adjusted EBITDA increased 31% Y-o-Y to $342 million, and adjusted net profit attributable to shareholders of $145 million grew significantly by 98% Y-o-Y. This performance reflects continued cost and operational discipline across the portfolio with tangible results from the Manufacturing Improvement Plan (MIP) and Fertiglobe’s ability to capture value in tight market conditions.
‘Our Q1 2026 performance reflects the strength and resilience of Fertiglobe’s platform, with disciplined execution translating into strong earnings growth despite a complex operating emirates-fishing-regulations-for-2026/”>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 2025.
1 The adjustment in tax rate led to a revaluation of deferred tax liabilities, resulting in a one-off accounting gain of $52.7 million in reported net income.
The quarter underscores the tangible impact of our Manufacturing Improvement Plan, with enhanced operating rates, improved efficiencies, and value-focused contingency planning, positioning us well to meet customer demand in the months ahead. Our ability to optimize production, logistics, and market placement across a diversified global footprint continues to differentiate Fertiglobe and support value capture in the tight market conditions which are expected to be sustained in the near-term. The recent adjustment to Fertil’s corporate tax rate further enhances our competitive positioning and cash generation capacity, supporting our commitment to delivering attractive and sustainable returns to shareholders.
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.
With robust near-term nitrogen fundamentals and a structurally supportive medium-term outlook, Fertiglobe is well positioned to continue delivering resilient performance while progressing high-return growth opportunities across our core and low-carbon product portfolio.’
Fertiglobe paid and committed to $2.9 billion in capital returns to shareholders since IPO, including execution on its 2.5% 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).
As of 31 March 2026, Fertiglobe reported a net debt position of $822 million, down from $1.0billion as of 31 December 2025, and implying consolidated net debt to LTM adjusted EBITDA of 0.7x. Fertiglobe’s financial position enables the company to effectively balance growth investments and shareholder distributions, supported by a solid balance sheet and robust consolidated free cash flow generation of $235 million in Q1 2026.
On 29 April 2026 at 3:00 PM UAE (12:00 PM London, 7:00 AM New York), Fertiglobe will host a conference call for investors and analysts.