VertiGlobe nine-month revenue reaches AED 10.7bn, up 44 percent
Adjusted EBITDA rose 31 percent to AED 3.5bn while net profit climbed 56 percent to AED 1.3bn in the period.
VertiGlobe reported revenue of AED 10.7bn for the nine months ended September 2026, an increase of 44 percent year-on-year, according to a company disclosure published 12 November 2026. Adjusted EBITDA for the period rose 31 percent to AED 3.5bn, while adjusted net profit attributable to shareholders increased 56 percent to AED 1.3bn. The figures were disclosed by the company and reported by Sky News Arabia.
Third quarter VertiGlobe revenue and margin#
Third quarter revenue stood at AED 3.3bn, up 19 percent year-on-year. Adjusted EBITDA for the quarter declined 19 percent to AED 848m, and adjusted net profit fell 62 percent to AED 187m. The company attributed the revenue growth to higher ammonia prices and sales volumes, which offset lower urea prices and planned maintenance at Egyptian Basic Industries Corporation in Egypt. Increased logistics and operating costs affected EBITDA margins during the quarter.
Production and maintenance outcomes#
Exports from the UAE reached 95 percent of production in the third quarter, compared with 56 percent in the second quarter of 2026, according to CEO Ahmed Al Hosani. Maintenance work at Egyptian Basic Industries Corporation was completed during the quarter and is expected to increase ammonia production by 20 percent, adding an estimated AED 99m annually to EBITDA based on 2024 baseline prices. Egyptian Fertilizers Company and Sorfert in Algeria maintained a 99 percent average urea production utilisation rate over the nine-month period.
Cost programme and capital expenditure#
VertiGlobe completed its initial cost improvement target of AED 202m and launched the FIT3 programme, targeting an additional AED 110m in annual non-gas cost savings by the end of 2028. Maintenance capital expenditure is expected to return to normal levels from 2027. The company stated it is exploring opportunities under its Growth 2030 strategy, supported by XRG, focusing on its position in the ammonia market.
Sources1 source across 1 domain
- snabusiness.comSky News ArabiaNine-month revenue of AED 10.7bn, adjusted EBITDA of AED 3.5bn, adjusted net profit of AED 1.3bn, third quarter figures, CEO statement, maintenance outcomes, cost programme details
Each source above carries the claim it supports. Links open the publisher's own page; their text is not reproduced here beyond what the claim requires, and their rights remain theirs.
Arabia Tomorrow is published by Arabian Media Network. Pieces are produced by the Infrastructure Capital Desk with AI-assisted synthesis of the cited sources and automated verification against the network's editorial policy. Every piece carries a desk rather than a reporter. Corrections are recorded on the piece and on the corrections page.
Every announced MENA data centre and IPP: announced capacity, financing status, EPC awarded, chip licence status, stated energisation quarter, slip to date in quarters.