Abu Dhabi – Mubasher: Fertiglobe posted net profits worth $1.82 billion in 2022, an 87% year-on-year (YoY) leap from $975.90 million, according to the preliminary financial results.
Revenues widened by 52% to $5.02 billion last year from $3.31 billion in the January-December 2021 period.
The earnings per share (EPS) attributable to the owners reached $0.15 in 2022, higher by 78% than $0.08 a year earlier.
Meanwhile, the company’s total assets increased by 7% YoY to $5.53 billion as of 31 December 2022, compared to $5.16 billion.
Income Statements for Q4-22
During the fourth quarter (Q4) of 2022, the adjusted net profits plummeted to $196 million from $376 million in Q4-21, while the revenues declined to $1.05 billion from $1.18 billion.
Ahmed El Hoshy, CEO of Fertiglobe, commented: “We are delighted to deliver solid results in our first year as a listed company with 52% revenue growth in 2022 and a 59% increase in adjusted [earnings before interest, taxes, depreciation, and amortisation] EBITDA to $2.47 billion.”
“We have successfully and safely completed several turnarounds across our plants in 2022, including in Q4 in the UAE and Egypt, and do not have further turnarounds planned at these facilities in 2023,” El Hoshy noted.
Dividends for H2-22
Fertiglobe announced cash dividends worth $700 million, equivalent to AED 2.60 billion or AED 0.31 per share, for the second half (H2) of 2022. Meanwhile, the company’s shareholders will receive dividends in April 2023.
The CEO highlighted that this brings “the total for the full year 2022 to $1.45 billion, including the $750 million H1-22 dividend paid to shareholders in October 2022.”
In the first nine months (9M) of 2022, Fertiglobe generated $1.07 billion in net profits attributable to the shareholders, versus $336.20 million in 9M-21.
