Adnoc listed companies reported resilient Q1 2026 results, generating combined revenues of $11.8 billion, EBITDA of $3.7 billion and net profit of $2.2 billion across six portfolio companies.
Fertiglobe, the world’s largest seaborne exporter of urea and net ammonia combined and the largest nitrogen fertilizer producer in the MENA region, reported strong revenues of $915 million for Q1 2026, reflecting a 32% Y-o-Y increase.
Bernstein initiated Mena energy coverage, praising UAE governance, sovereign-backed ownership and strong cashflows. It said these enable rapid transformation of state assets into investable platforms, naming Adnoc Gas and Fertiglobe discounted, high-quality “best pick” opportunities.
Covestro, Fertiglobe, and Ta’ziz signed an MoU to explore collaboration across ammonia and nitric acid value chains. They will assess short-term ammonia supply to Covestro’s China and US sites and longer-term low-carbon and green ammonia options for Europe, China, and the US, leveraging carbon capture and renewable technologies.
Fertiglobe, the world’s largest seaborne exporter of urea and net ammonia combined, reported a 41% Y-o-Y increase in revenues to $2.82 billion in 2025, while adjusted EBITDA rose 57% Y-o-Y to $1.02 billion.
Fertiglobe, a seaborne urea and ammonia exporter under Adnoc, announced strong Q3 2025 revenues of $758 million, up 53 per cent year-over-year. Adjusted EBITDA rose 69 per cent to $286 million, and adjusted net profit surged to $134 million from $28 million last year.
