Fertiglobe profit nearly triples on higher prices

Fertiglobe, the largest nitrogen fertilizer producer in the Middle East and North Africa, said net profit attributable to shareholders nearly tripled, backed by higher revenue.

The top line rose 32 percent year on year to $915 million, driven by higher ammonia and urea prices. Net profit attributable climbed 173 percent annually to $198 million between January and March.

CEO Ahmed El-Hoshy said in a statement published on the Abu Dhabi Securities Exchange (ADX) that “disciplined execution led to strong earnings growth despite a complex operating environment amid the conflict in the Middle East”.

As of March 31, 2026, Fertiglobe reported a net debt position of $822 million, down from $1 billion as of December 31, 2025.

The company, based in Abu Dhabi, said market fundamentals remain robust, driven by demand from major importing customers amid tight supply, exacerbated by the US-Israel conflict with Iran, as well as elevated industry costs.

Prices are expected to remain firm, underpinned by continued supply constraints and resilient urea import demand from India, the US and Australia, with no Chinese urea exports expected until at least mid-second quarter of 2026.

The company’s share price on ADX closed 2.7 percent higher at AED3.39 on Tuesday. It is up 36 percent since January 1. 

State-owned Abu Dhabi National Oil Company holds an 86.2 percent majority stake in Fertiglobe.

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