DPM released stellar Q1 2022 results with revenue tripling YoY and reported net profit surging 12.4x YoY, which were driven by 1) robust urea and NH3 prices that increased 151.4% YoY and 172.6% YoY, respectively, and 2) strong sales volume growth of 30.5% YoY. Notably, these results occurred despite the negative impact of a 36.7% YoY increase gas input costs.