Fertiglobe more than doubles Q2 2026 EBITDA, proposes dividend increase of at least 20%

Fertiglobe (ADX: FERTIGLB) on Tuesday reported a strong second-quarter performance, with adjusted EBITDA more than doubling year-on-year to $371 million and adjusted net profit attributable to shareholders surging 12.5x to $145 million.

Reflecting this strong earnings momentum and disciplined capital allocation, the Company has proposed a minimum H1 2026 dividend of $150 million, representing an increase of more than 20% year-on-year.

For the first half of 2026, Fertiglobe delivered revenues of $2.0 billion, up 59% year-on-year, while adjusted EBITDA increased 63% to $713 million and adjusted net profit attributable to shareholders rose 3.4x to $289 million. The performance reflects disciplined execution, record-high utilisation rates in Egypt and Algeria, and the Company’s ability to leverage its diversified production, trading, and logistics platform to navigate regional disruptions and continue serving customers globally.

Performance in the quarter reflects disciplined execution, the breadth of Fertiglobe’s global production and trading footprint, as well as the Company’s ability to redirect volumes and capture value in a disrupted logistics environment, despite 100kt urea shipments shifting to early Q3 2026. Fertiglobe continues to monitor regional developments and implements appropriate contingency arrangements to support safe and reliable operations.

Ahmed El-Hoshy, CEO of Fertiglobe, commented, “Our Q2 2026 results demonstrate the resilience of Fertiglobe’s operations and the strength of our team. We further diversified UAE export routes through alternative overland and sea logistics, while expanding storage capacity to maintain production continuity. Despite ongoing constraints, we exported volumes from the UAE equivalent to 56% of Q2 2026 production, which was impacted by critical maintenance activities on one of the lines.

Leveraging our diversified global footprint and established trading platform, we continued serving customers throughout the disruption. Improved pricing partially offset lower volumes and higher logistics costs, driving EBITDA margin expansion in Q2 2026. Our strong performance and disciplined capital allocation support a proposed dividend increase of at least 20% year-on-year. Including this distribution, Fertiglobe will have returned more than 50% of its IPO market capitalisation.

Backed by a strong balance sheet and the support of XRG, ADNOC’s international investment company, Fertiglobe remains well positioned to deliver on its Grow 2030 strategy. We will continue to leverage our diversified footprint, logistical flexibility, and integrated global platform to create value and deliver resilient growth for our shareholders.”

In line with Fertiglobe’s commitment to delivering shareholder value, management proposed H1 2026 dividends at a minimum of $150 million, subject to Board approval in September 2026 with payment in October 2026. Including the proposed H1 2026 dividend, Fertiglobe will have returned or proposed to return at least $3 billion in capital returns to shareholders since IPO1, alongside execution of its 2.5% share buyback programme (of which 1.34% of total outstanding shares have been repurchased at a cost of $74 million).

As of 30 June 2026, Fertiglobe reported net debt of $621 million, down from $1.0 billion as of 31 December 2025, equivalent to consolidated net debt-to-LTM adjusted EBITDA of 0.5x. Fertiglobe’s strong balance sheet and disciplined financial framework continue to support both growth investments and attractive shareholder returns. Backed by XRG, ADNOC’s international investment company, Fertiglobe remains well positioned to deliver on its Grow 2030 strategy while maintaining a disciplined approach to capital allocation.

WAM