Abu Dhabi – Mubasher: The net profits attributable to the owners of Fertiglobe hiked to $1.07 billion in the first nine months (9M) of 2022, compared to $336.20 million in the year-ago period.
Revenues amounted to $3.97 billion during the January-September 2022 period, an annual leap of 87% from $2.12 billion, according to the income statements.
The basic and diluted earnings per share (EPS) settled at $0.13 in 9M-22, versus $0.04 in 9M-21.
During the third quarter (Q3) of 2022, the net profits attributable to the shareholders jumped to $291.60 million from $137.70 million in Q3-21, whereas the revenues enlarged by 52% to $1.31 billion from $866.70 million.
Additionally, the basic and diluted EPS settled at $0.03 in Q3-22, higher than $0.01 in Q3-21.
Ahmed El Hoshy, CEO of Fertiglobe, commented: “We are pleased to report yet another solid set of results in Q3-22, driven by a step-up in urea and ammonia prices compared to the same period last year, supported by tight market balances, outweighing the typical seasonal slowdown in Q3.”
El Hoshy added: “Looking ahead, our order book in Bangladesh, Australia, and Europe is robust, as demand picks up ahead of spring application in key import markets, giving us good visibility for Q4 and the upcoming season in H1-23.”
In 6M-22, the ADX-listed firm registered higher profits attributable to the equityholders at $786 million, compared to $198.50 million during the same period a year earlier.
Dividends
Fertiglobe’s CEO announced that the company might disburse minimum cash dividends worth $700 million for the second half (H2) of 2022. The firm would distribute a dividend of AED 0.31 per share during April 2023.
Meanwhile, the exact amount of the H2-22 dividends will be disclosed in February next year along with the Q4-22 financial results.
Last October, the UAE-based company paid $750 million as cash dividends for H1-22, which would bring the total dividends for 2022 to at least $1.45 billion if H2-22 payout is approved.
