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  • UAE Flag
    FIRST LOOK NOTES
    30 Jul 2026
    Fertiglobe PLC
    BUY
    AED 2.65
    AED 3.20
    +20.75%

    UAE Equity Research - Fertiglobe PLC 2Q26 - First Look Note

    Project Harvest (1 mtpa lower-carbon ammonia project, UAE) is under construction, targeting 50% lower carbon intensity, with operations expected in 2027 and capex below USD 500 Mn. Ammonia prices rose to USD 910 per MT in April 2026 compared to USD 435 per MT in May 2025, driven by supply disruptions and Strait of Hormuz restrictions.
  • UAE Flag
    EARNINGS CALL INSIGHT
    29 Jul 2026
    Fertiglobe PLC
    BUY
    AED 2.65
    AED 3.20
    +20.75%

    UAE Equity Research - Fertiglobe PLC 2Q26 - Earnings Call Insight

    Total sales volume rose 8.7% YOY to 1.57 Mn metric tons in 2Q26, mainly driven by an increase in third-party sales volume partially offset by decrease in own-product sold.
  • UAE Flag
    FIRST LOOK NOTES
    17 Feb 2026
    Fertiglobe PLC
    BUY
    AED 2.70
    AED 3.20
    +18.52%

    UAE Equity Research - Fertiglobe PLC 4Q25 - First Look Note

    Expanded production capacity of Diesel Exhaust Fluid (DEF) and Automotive Grade Urea (AGU) in the UAE and Egypt, which is projected to generate c. USD 22 Mn of additional annual EBITDA by 2030.
  • UAE Flag
    EARNINGS CALL INSIGHT
    12 Feb 2026
    Fertiglobe PLC
    BUY
    AED 2.77
    AED 3.20
    +15.52%

    UAE Equity Research - Fertiglobe PLC 4Q25 - Earnings Call Insight

    Total sales volume rose 37.6% YOY to 1.68 Mn metric tons in 4Q25, mainly driven by an increase in own product sold and third-party sales volume. Own product sales volume rose 17.9% YOY to 1.38 Mn metric tons in 4Q25. Additionally, total third-party product sales grew to 0.30 Mn metric tons in 4Q25, compared to 0.05 Mn metric tons in 4Q24.
  • UAE Flag
    FIRST LOOK NOTES
    13 Nov 2025
    Fertiglobe PLC
    BUY
    AED 2.46
    AED 3.20
    +30.08%

    UAE Equity Research - Fertiglobe PLC 3Q25 - First Look Note

    Fertiglobe’s USD 142 Mn goodwill tax settlement in Egypt is expected to yield annual cash tax savings of c. USD 16 Mn over the next decade. Urea prices averaged USD 474 per ton (FOB Egypt) in 3Q25, up 16% QOQ and 33% YOY, contributing to higher revenues.
  • UAE Flag
    EARNINGS CALL INSIGHT
    11 Nov 2025
    Fertiglobe PLC
    BUY
    AED 2.44
    AED 3.20
    +31.15%

    UAE Equity Research - Fertiglobe 3Q25 - Earnings Call Insight

    Total sales volume rose 19.5% YOY to 1.65 Mn metric tons in 3Q25, mainly driven by an increase in third-party sales. Own product sales fell 2.1% YOY to 1.33 Mn metric tons in 3Q25, driven by the impact of gas supply issues in Egypt and the strategic decision to increase urea production.
  • UAE Flag
    FIRST LOOK NOTES
    12 Aug 2025
    Fertiglobe PLC
    BUY
    AED 2.51
    AED 3.20
    +27.49%

    UAE Equity Research - Fertiglobe PLC 2Q25 - First Look Note

    Fertiglobe’s strong short-term market outlook is supported by tight global supply and rising demand from major buying regions, keeping prices strong. Cost savings of USD 15-21 Mn are targeted by year-end 2025, through procurement efficiencies, operational improvements, and integration synergies with ADNOC.
  • UAE Flag
    EARNINGS CALL INSIGHT
    05 Aug 2025
    Fertiglobe PLC
    BUY
    AED 2.58
    AED 3.20
    +24.03%

    UAE Equity Research - Fertiglobe PLC 2Q25 - Earnings Call Insight

    Total sales volume declined 3.6% YOY to 1.44 Mn metric tons in 2Q25, driven by a decline in own product, partially offset by rise in third-party sales. Own product sales fell 9.6% YOY to 1.26 Mn metric tons in 2Q25 driven by the impact of turnarounds in the UAE and external factors on operating rates due to planned and unplanned shutdowns, while third-party product sales rose 74.1% YOY to 0.19 Mn metric tons in 2Q25.
  • UAE Flag
    FIRST LOOK NOTES
    26 May 2025
    Fertiglobe PLC
    BUY
    AED 2.46
    AED 3.20
    +30.08%

    UAE Equity Research - Fertiglobe PLC 1Q25 - First Look Note

    Revenue increased 25.9% YOY to USD 695 Mn in 1Q25 due to higher sales volumes, increased urea prices and shipment deferral. Recorded a strong utilization rate of 87% in ammonia and urea in 1Q25 reflecting strong execution under the MIP.

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