Fertiglobe’s profits leap to $786mln in H1-22; dividends announced

Abu Dhabi – Fertiglobe, a joint venture (JV) between ADNOC and OCI, generated $786 million in net profit attributable to the owners during the first half (H1) of 2022, versus $198.50 million in H1-21.

The UAE-based firm posted revenues worth $2.65 billion during the January-June 2022 period, an annual hike of 111% from $1.62 billion, according to the income statements.

The basic and diluted earnings per share (EPS) were $0.095 in H1-22, higher than $0.024 in H1-21.

In the second quarter (Q2) of 2022, the net profits attributable to the owners jumped to $429.40 million, compared to $113.30 million during the same period a year earlier.

Furthermore, the revenues soared by 105% year-on-year (YoY) to $1.47 billion in Q2-22 from $716.60 million. The basic and diluted EPS rose to $0.052 in Q2-22 from $0.014 in Q2-21.

Meanwhile, Fertiglobe’s board approved a cash dividend distribution worth $750 million for H1-22.

During the first three months (3M) of 2022, the company’s net profits attributable to the owners surged to $356.60 million from $85.20 million in the year-ago period.

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