Full year 2021 revenues increased 113% to US$ 3,311mn
Fertiglobe, the strategic partnership between ADNOC and OCI, the world’s largest seaborne exporter of urea and ammonia combined, the largest nitrogen fertilizer producer in the Middle East and North Africa (MENA) region, recently reported that its Q4-2021 revenues increased 138% to US$ 1,184mn
Fertiglobe operates a diverse regional footprint of four world-class production facilities in three countries, Egypt, Algeria and the UAE. The company has significant non-GDP growth levers, benefitting from a unique combination of factors including strategic locations and a competitive low-cost position, which support healthy free cash flows and attractive dividends.
As a global leader in merchant ammonia and an early mover in clean ammonia, Fertiglobe is well positioned to capitalize on the global transition to a hydrogen economy, with ammonia having emerged as one of the most promising products to enable the energy transition, and benefiting from its existing ammonia production, distribution infrastructure, and access to abundant attractive wind and solar resources for renewable energy generation, according to a press communique.
“Our current order book looks healthy into Q2 2022, and we expect H1 2022 to be strong, driven by attractive farm economics, strong demand in our ammonia end markets and our globally competitive position,” remarked Ahmed El-Hoshy, CEO, Fertiglobe. Fertiglobe’s distribution capabilities, including the ability to manage inventories close to key demand centres coupled with a disciplined commercial strategy, allows the company to optimise benefits from the current market conditions, as exemplified by the recent award to supply 500kt urea to Ethiopia this quarter and in the second quarter this year at an average price of US$ 724/ton.