Fertiglobe agrees to distribute a dividend of $700 million for the second half of 2022

Fertiglobe’s 2022 dividend was supported by the company’s strong financial performance during the year, its competitive position on the global cost curve and its strong free cash flow conversion capacity.

Fertiglobe had revenue of $5.0 billion in 2022, adjusted EBITDA of $2.5 billion and adjusted net profit of $1.3 billion.

The company recorded net cash of $287 million as of December 31, 2022, compared to net debt of $487 million as of December 31, 2021, thanks to profits and strong cash flows during the past year, which supports Fertiglobe’s efforts to achieve attractive returns for shareholders and take advantage of future growth opportunities.

The shareholders attending the Annual General Assembly approved all items on the agenda of the meeting.

On this occasion, Dr. Sultan Al Jaber, Chairman of FertiGlobe, said: “We have full confidence in the efficiency and effectiveness of FertiGlobe’s growth strategy, as it continues to generate strong profits and contribute to achieving positive change by supporting food security and economic growth at the regional and global levels, in addition to creating sustainable value.” Since the listing of a share of its shares on the Abu Dhabi Stock Exchange in 2021, the company has achieved strong performance and started implementing important initiatives to support sustainable development, logical and responsible transformation in the energy sector, and the development of a low-carbon economy, in line with the UAE and Abu Dhabi development strategy. We look to the future with confidence and optimism based on Fertiglobe’s solid position that enables it to create sustainable value, achieve further growth, progress and achievements thanks to its strategic operating platform, its possession of production assets that are best in its class, in addition to its distinguished capabilities in the fields of trade and distribution.”

For his part, Ahmed Al Hoshi, CEO of Fertiglobe, said: “We have created shareholder value while adhering to our long-term strategy and vision. We are pleased to have made tangible progress in reducing carbon emissions and sustainability work through initiatives such as stopping the use of fresh water by 100% in our operations, and starting the phase The first of our green hydrogen project in Egypt on the sidelines of the climate conference “COP27″…”.

In 2022, Fertiglobe was awarded its first investment-grade credit rating from Standard & Poor’s (BBB-), Moody’s (Baa3), and Fitch (BBB-), all with a stable outlook, supporting its strong profitability and cash-generating capabilities. . Fertiglobe is a founding member of the FTSE Russell Abu Dhabi Securities Market Index 15 “Vadax 15”, which was launched by the Abu Dhabi Securities Exchange with FTSE Russell, and the FTSE Emerging Markets Index, which highlights its attractiveness to local and international investors.

Fertiglobe is the world’s largest marine exporter of urea and ammonia combined, and one of the leaders in clean ammonia.

Fertiglobe’s production capacity consists of 6.6 million tons of commercial urea and ammonia, which is produced in four subsidiaries in the UAE, Egypt and Algeria, making it the largest producer of nitrogen fertilizers in the Middle East and North Africa region, and benefits from direct access to six major ports and distribution centers. On the Mediterranean Sea, the Red Sea and the Arabian Gulf.

The company is headquartered in Abu Dhabi and incorporated in the Abu Dhabi Global Market, employs more than 2,700 employees and was established as a strategic partnership between OCI Global (“OCI”) and the Abu Dhabi National Oil Company (“ADNOC”).