Fertiglobe plc

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.

On February 14, 2024, Fertiglobe plc held a virtual board of directors meeting in which they approved the company's unaudited annual financial statements for the financial year ended December 31, 2023. They also proposed a cash dividend distribution of USD 200 million (equivalent to AED 734.5 million or approximately 9 fils per share) for the second half of the financial year ended December 31, 2023. The proposal will be considered by the shareholders in a general assembly meeting with a date yet to be determined. The board also reviewed recent developments related to the company's activities and projects. The information was relayed by Ms. Rita Guindy, Director of Investor Relations.

The Board of Directors of Fertiglobe plc will hold a virtual meeting on Tuesday, 13 February 2024 at 5:30 p.m. The meeting will discuss the company's unaudited annual financial statements for the financial year ended 31 December 2023, a proposal of cash dividends distribution to the shareholders for the second half of the financial year ended 31 December 2023, and general matters relating to the company's activities and projects. The information was shared by Ms. Rita Guindy, Director of Investor Relations.

The Abu Dhabi Securities Exchange has received a notification regarding the ownership of Fertiglobe plc by its major shareholders, the Abu Dhabi National Oil Company (ADNOC) and OCI Fertilizers B.V. (OCI Global). The two companies have entered into an agreement concerning their ownership in Fertiglobe. The information was relayed by Ms. Rita Guindy, Director of Investor Relations.

Fertiglobe, a partnership between ADNOC and OCI Global, has completed the first shipment of the world's first internationally recognized renewable ammonia with ISCC PLUS certification. The renewable ammonia, produced at the company's facilities in Egypt using renewable hydrogen, will be used in the production of near-zero emissions synthetic soda ash for Unilever. The shipment was sent to Tuticorin Alkali Chemicals and Fertilisers Limited (TFL) who will produce the soda ash for Unilever’s India business, Hindustan Unilever (HUL). Fertiglobe is also involved in several sustainability projects including the Egypt Green Hydrogen project and the Ta’ziz low-carbon ammonia project.

Fertiglobe has reconfirmed its record date of 16 November 2023 for the semi-annual interim dividend distribution for H1 2023. The company will distribute a cash payment of 12 fils per share on 5 December 2023 to shareholders as of the close of trading on 16 November 2023. This, combined with a $700 million cash distribution for H2 2022 paid earlier in the year, brings the total cash return paid to shareholders in 2023 to $975 million.

The Board of Directors of Fertiglobe plc held a meeting on 6th November 2023. The board approved the financial results for the third quarter of the financial year 2023. They also approved the interim cash dividends distribution to the company's shareholders for the first half of the current financial year 2023 amounting to USD 275 million (equivalent to AED 1,010 million, approximately 12 fils per share). The last entitlement date is 14th November 2023, the ex-dividend date is 15th November 2023, and the shareholders' registry closing date is 16th November 2023. The payment date will be within 30 days of 6th November 2023.

The text provides an unaudited condensed consolidated interim financial statement for the quarter ending on 30th September 2023. This document is likely to contain key financial data, performance metrics, and other financial information for the specified period.