# Fertilizer Firm Fertiglobe Reports 41% Plunge In First-Quarter Revenue

> Abu Dhabi-based fertiliser producer Fertiglobe reported first-quarter 2023 adjusted net profit down 62% year-on-year to $135.4 million. Revenue fell 41% to $694 million, mainly on lower urea selling prices. The company blamed lower gas-linked costs in Europe, deferred buying and weather-related delays in demand.

- Date: 2023-05-09 · published 2023-05-09T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/36261-fertilizer-firm-fertiglobe-reports-41-plunge-in-first-quarter-revenue
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

The earnings drop reflects the lower urea price level seen across the market and confirms weak demand in key regions. It adds little new price pressure beyond what current urea prices already show.

## Read by commodity

- UREA: bearish ▼

## Sources

- db.forbesmiddleeast.com: https://db.forbesmiddleeast.com/industry/energy/adnoc-oci-backed-fertiglobes-q1-net-profit-surges-62-to-%24135m

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.