Chat with Filing

Ask questions about this document

Please log in or register to use the chat feature. Please register first.

ER - Yara reports improved results reflecting higher production and lower energy cost

Company: Yara International ASA Date: 2019-07-16 Language: English Register to download

Loading document preview...

Document Preview Not Available

The file type (.html) cannot be displayed directly here.

Open Original File

Error loading document preview. Please try the 'Open Original File' link.

You're One Click Away From The Full Filing

Instantly access this document—and 2.8M more—for free. Select your preferred method:

Continue with Google Continue with Microsoft Continue with Facebook Continue with Amazon

 Yara reports improved results reflecting higher production and lower energy cost

# Yara reports improved results reflecting higher production and lower energy cost

Oslo, 16 July 2019: Second-quarter net income after non-controlling interests  

was USD 230 million (USD 0.84 per share), compared with a net loss of USD 211  

million (USD 0.77 per share) a year earlier. Excluding currency effects and  

special items, the result was USD 0.77 per share compared with USD 0.16 per  

share in second quarter 2018.  

  

  

Second-quarter EBITDA excluding special items was USD 546 million, up from USD  

321 million a year earlier, mainly reflecting higher production volumes and  

nitrogen upgrading margins.  

  

"Yara delivers significantly improved results in second quarter, with EBITDA  

excluding special items and IFRS 16 up by 62%. The improvement is mainly driven  

by higher production and lower energy cost," said Svein Tore Holsether,  

President and Chief Executive Officer of Yara.  

  

"I am pleased to see Yara-produced deliveries increase across all main product  

groups, as our growth projects generate increased volumes and revenues. Our  

return on capital continues its positive trend, thanks to the sustained efforts  

of our entire organization. Our main priority is to deliver improved returns as  

a focused company," said Holsether.  

  

Total Sales and Marketing deliveries were 2% higher compared to a year earlier.  

Excluding the Cubatão acquisition in Brazil, deliveries were in line with a year  

earlier. New Business deliveries were 4% higher than a year ago, or 1% higher  

excluding the Cubatão acquisition. Yara's ammonia production was up 6%, while  

finished fertilizer production was up 4%.  

  

Yara's near-term focus is on improving returns through strict capital allocation  

and driving operational excellence. Yara's investments peaked in 2018, with  

revenues ramping up in 2019 as growth projects come on stream and further  

operational improvements are realized. Yara launched extended improvement  

targets at its Capital Markets Day in June, targeting 4.2 million additional  

tonnes of production by 2023 compared with 2018, in addition to fixed cost  

savings and improvements within energy efficiency, variable cost and operating  

capital.  

  

Link to report, presentation and webcast 16 July at 09:30 CEST:  

https://www.yara.com/investor-relations/latest-quarterly-report/  

  

  

Contact  

  

Thor Giæver, Investor Relations  

Mobile: (+47) 480 75 356  

E-mail: thor.giaver@yara.com (mailto:thor.giaver@yara.com)  

  

Kristin Nordal, Media Relations  

Mobile: (+47) 900 15 550  

E-mail: kristin.nordal@yara.com (mailto:kristin.nordal@yara.com)  

  

  

About Yara  

  

Yara grows knowledge to responsibly feed the world and protect the planet, to  

fulfill our vision of a collaborative society, a world without hunger and a  

planet respected. To meet these commitments, we have taken the lead in  

developing digital farming tools for precision farming and work closely with  

partners throughout the whole food value chain to develop more climate-friendly  

crop nutrition solutions. In addition, we are committed to working towards  

sustainable mineral fertilizer production. We foster an open culture of  

diversity and inclusion that promotes the safety and integrity of our employees,  

contractors, business partners, and society at large. Founded in 1905 to solve  

the emerging famine in Europe, Yara has a worldwide presence with about 17,000  

employees and operations in over 60 countries. In 2018, Yara reported revenues  

of USD 12.9 billion.  

  

www.yara.com (http://www.yara.com)  

  

This information is subject to the disclosure requirements pursuant to Section  

5-12 the Norwegian Securities Trading Act