Business
SNG: Fertiglobe’s profits exceed $115mln in Q1-25; revenues hike 26%
SNG: Fertiglobe’s profits exceed $115mln in Q1-25; revenues hike 26%
About this update from Fertiglobe Plc
First published: 15-May-2025 07:55:58Staff WriterAbu Dhabi: Fertiglobe achieved net profits of $115.30 million in the first quarter (Q1) of 2025, an annual drop from $154.40 million.Revenues hiked by 26% to $694.90 million as of 31 March 2025 from $551.90 million in Q1-24, according to the financial results.Basic and diluted earnings per share (EPS) hit $0.009 in Q1-25, versus $0.014 a year earlier.Ahmed El Hoshy, CEO of Fertiglobe, commented: "We delivered a 7% increase in our own-produced sales volumes vs. Q1-24, and 31% vs. Q4-24.”“This was driven by the strategic shift of shipments from Q4 to capitalize on improving market conditions, and improved plant operating rates, reflecting successful execution on Phase 1 of the Manufacturing Improvement Plan (MIP) focused on enhancing energy and production efficiency,” El Hoshy added.He noted: “With ADNOC’s strategic support, Fertiglobe has entered the next phase of its growth under the ‘Grow 2030 Strategy’, targeting to become a $1 billion EBITDA` global integrated downstream nitrogen product champion by 2030 via four strategic pillars.”Last year, the net profit attributable to fell to $159.90 million from $348.90 million in 2023.All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.