Fertiglobe Reports Revenue of $566 million in Q2

Fertiglobe on Monday said that it was poised to capitalise on the recent recovery in urea prices, supported by a strong order book and this pricing rebound is supported by robust import demand from key markets such as India and Ethiopia.

The urea prices were up 20% versus the Q2 2025 average to $488/t, supported by tight industry supply and emerging demand from key buying regions. Longer term, limited supply additions and growing demand across agricultural, industrial and emerging segments are expected to support prices, the company said in a bourse filing with Abu Dhabi Securities Exchange (ADX) this morning.

Announcing its financial results for Q2 and first half of this year, the company said that the revenue stood at $566 million in the second quarter of 2025, reflecting a 14% y-o-y increase, while adjusted EBITDA grew 26% to $176 million, with adjusted net profit attributable to shareholders stood at $12 million, representing a 68% increase compared with Q2 2024.

In the first half of 2025, the company said that the revenue for H1 2025 was $1.26 billion, a 20% increase y-o-y increase. Adjusted EBITDA for the period stood at $437 million, up 36% y-o-y, while adjusted net profit attributable to shareholders stood at $85 million, representing an 18% decline compared to the prior year, driven by a one-off FX gain in H1 2024.

Fertiglobe CEO Ahmed El-Hoshy said that the second quarter demonstrated the company’s growing operational resilience, with an adjusted EBITDA increase of 26% y-o-y. The company remains strategically placed to deliver robust performance and maintain operational continuity amid challenging conditions.

“We capitalised on the downtime in Egypt to perform critical maintenance activities, successfully extending the turnaround cycle, with maintenance capex expected towards the lower end of our previous guidance at $145 million. Notably, excluding external factors and turnarounds, our own-produced sales volumes for the second quarter of 2025 would have been up 4% y-o-y, while H1 2025 own-produced sales volumes would have increased 7% y-o-y,” he said.

Dividends

In line with company’s commitment to deliver value to our shareholders, it has proposed to pay at least $100 million for H1 2025 dividends of at least $100 million, subject to Board approval in September 2025 with payment in October 2025.

As of 1 August 2025, Fertiglobe repurchased 55 million shares, representing 0.66% of total outstanding shares, Including the $31 million worth of shares bought back in Q2 2025, the company provides one of the highest total return metrics in the industry at the combined $131 million cash returns to shareholders for H1 2025.

As of 30 June 2025, Fertiglobe reported a net debt position of $909 million, implying a consolidated net debt to Last Twelve Months (LTM) adjusted EBITDA ratio of 1.0x. This strong financial position enables the Company to effectively balance growth investments and shareholder distributions, supported by robust free cash flow generation and a solid balance sheet.

Fertiglobe is also set to realize $10 million of annual run rate interest savings in 2025, following credit rating upgrades by S&P, Fitch, and Moody’s and driven by ADNOC’s acquisition of a majority stake in Fertiglobe.

“These savings are further underpinned by the refinancing of our $300 million loan through the internal ADNOC bank and the recent repricing of a $1.1 billion term loan, supporting lower financing costs and contributing to earnings accretion in the quarter,” he added.