Clean Ammonia Market Growth and Fertilizer Industry Outlook
Delivering strong earnings, cash flow and return on invested capital
Adjusted EBITDA/Net Earnings
US$ Billions
Net Earnings Per Share (EPS)³
US$ per Share
Net Earnings
$12.2
Adjusted EBITDA1
$7.1
$7.7
$6.5 - $8.0
$3.7
$3.2
$0.5
2020
2021
2022
Cash Provided by Operating Activities
US$ Billions
12345
$3.9
$3.3
2020
2021
$14.18
$13.19
EPS
Adjusted EPS1
$6.23
$5.52
$1.80
$0.81
2023F2
2020
2021
$8.1
$5.0 - $5.8
2022
2023F4,5
$5.50 - $7.50
2022
2023F2
Return on Invested Capital ("ROIC")1
Percent
5%
15%
26%
10% - 14%
2020
2021
2022
2023F4
These are non-IFRS financial measures. See the "Non-IFRS Financial Measures" section.
Based on guidance provided in our news release May 10, 2023.
All references to per share amounts pertain to diluted net earnings per share.
Based on internal forecasts aligned with annual guidance provided in our news release dated May 10, 2023.
Assumes a -75% conversion ratio for Cash Provided by Operating Activities to Adjusted EBITDA based on the Adjusted EBITDA guidance range provided in our news release dated May 10, 2023.
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