Fertiglobe plc

Fertiglobe, the world's largest seaborne exporter of urea and ammonia, has published its 2023 Annual Report. The report confirms unaudited results issued in February 2024, reporting revenues of $2.4 billion and adjusted EBITDA of $1.0 billion. The company also reported an adjusted net profit attributable to shareholders of $363 million. The Board of Directors has proposed H2 2023 dividends of $200 million, pending shareholder approval. The report is available on Fertiglobe's website.

The Fertiglobe Corporate Governance Report provides an overview of the company's Board of Directors, who provide expert guidance and support for sustainable value creation. This report is part of the 2023 Integrated Annual Report, which is published on the company's website.

The Abu Dhabi Securities Exchange has announced that the Annual General Assembly Meeting of Fertiglobe PLC will be held on Tuesday, 30 April 2024, at 4 p.m. (UAE time). The meeting invitation and agenda have been published in two daily newspapers in English and Arabic on Friday, 5 April 2024. The notification also includes attachments of the AGM invitation and a disclosure regarding AGM proxies. The information has been communicated by Ms. Rita Guindy, Director of Investor Relations, and a copy has been sent to the Securities and Commodities Authority (SCA).

The Abu Dhabi Securities Exchange has released a circular resolution from the Board of Directors of Fertiglobe plc on 25 March 2024. The resolution includes the approval of the company's audited annual financial statements for the financial year ended 31 December 2023. The board has also invited the company's annual general assembly to convene on 30 April 2024 and determined its agenda. The announcement was made by Ms. Rita Guindy, Director of Investor Relations. A copy of the resolution was sent to the Securities and Commodities Authority.

Fertiglobe Plc released its preliminary unaudited results for the financial year ending 31 December 2023. The company, established in 2018, has a paid-up and subscribed capital of $1,328.2 million, with an authorized capital of $3,328.2 million. The results show a decrease in total assets from $5,530.6 million in 2022 to $4,625.8 million in 2023. Shareholders' equity also decreased from $2,058.2 million in 2022 to $1,444.7 million in 2023. Similarly, revenues, net operating profit, net profit, and net profit attributable to shareholders all saw a decline from 2022 to 2023. Earnings per share attributable to shareholders also fell from $0.151 in 2022 to $0.042 in 2023.

Fertiglobe has reported a significant improvement in its Q4 2023 performance, with revenues of $646 million, a 23% increase Q-o-Q, and adjusted EBITDA of $289 million, a 45% increase Q-o-Q. Adjusted net profit also increased by 149% Q-o-Q to $103 million. The company's board has recommended dividends of $200 million for H2 2023, subject to shareholder approval. This would bring the total dividends paid for 2023 to $475 million. Fertiglobe also saw a 15% YoY increase in its own-produced sales volume for Q4 2023. The company is on track to achieve its $50 million savings target by the end of 2024, having implemented $25 million of savings by the end of 2023. ADNOC is set to acquire OCI Global's majority stake in Fertiglobe, pending legal and regulatory approvals in 2024.