Yara International ASA : Yara reports strong fourth-quarter results
Oslo (2013-02-12): Yara International ASA delivered strong fourth-quarter
results with increased sales volumes and healthy margins. Yara's board will
propose to the Annual General Meeting a dividend payment of NOK 13 per share
for 2012, up from NOK 7 a year ago.
Yara reports fourth-quarter net income after non-controlling interests of NOK
2,165 million (NOK 7.72 per share), compared with NOK 3,386 million (NOK 11.84
per share) a year earlier. Excluding net foreign exchange gain and special
items, the result was NOK 7.25 per share compared with NOK 8.82 per share in
fourth quarter 2011. Fourth-quarter EBITDA excluding special items was NOK
3,541 million compared with NOK 4,001 million a year earlier.
Yara's full-year 2012 result excluding net foreign exchange gain and special
items was NOK 35.52 per share compared with NOK 34.94 per share in 2011. 2012
EBITDA excluding special items was NOK 16,858 million compared with NOK 16,010
million a year earlier.
"Yara reports strong fourth-quarter and full-year results, making room for a
NOK 13 per share dividend, up from NOK 7 a year ago," said Jørgen Ole
Haslestad, President and Chief Executive Officer in Yara.
"Strong grain prices continue to support global nitrogen demand, even
absorbing a large increase in supply from China. This demand increase is both
welcome and necessary to avoid a further decline in global grain stocks," said
Jørgen Ole Haslestad.
Global Yara fertilizer deliveries were up 19% on fourth quarter 2011. Urea
sales increased by 52%, mainly reflecting higher sales of Qafco urea in North
America and Brazil. NPK sales increased 12% driven by higher sales in Brazil,
and nitrate sales increased 25% compared with fourth quarter 2011. Slightly
more than half of the nitrate increase was due to higher sales in Europe,
where the fertilizer season is progressing well.
Yara's average realized urea prices decreased 11%, while nitrate and NPK
prices declined 6% and 3% respectively, as value-added premiums are relatively
less exposed to swings in commodity nitrogen, phosphate and potash markets.
Following a slow start to the 2012/13 season, Western European nitrogen
fertilizer industry deliveries increased 15% in the fourth quarter, with
season to date deliveries 6% ahead of last year. Continued strong grain prices
and a tightening global urea market create a positive backdrop for European
nitrate markets going forward.
Link to 4Q report and presentation:
Link to 4Q webcast 12 February at 09:30 CET:
Thor Giæver, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 48 07 53 56
Esben Tuman, Media Relations
Telephone: (+47) 24 15 70 26
Cellular (+47) 90 50 84 00
Yara delivers solutions for sustainable agriculture and the environment. Our
fertilizers and crop nutrition programs help produce the food required for the
growing world population. Our industrial products and solutions reduce
emissions, improve air quality and support safe and efficient operations.
Founded in Norway in 1905, Yara has a worldwide presence with sales to 150
countries. Safety is always our top priority.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
4Q 2012 Report
4Q 2012 Presentation
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information contained therein.
Source: Yara International ASA via Thomson Reuters ONE
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