Yara International ASA : Yara reports strong first-quarter results and cash
Oslo (2013-04-22): Yara International ASA delivered strong first-quarter
results and cash flow, with stable margins. New ammonia and urea volumes from
Qafco, Lifeco and Yara Pilbara more than offset a 3% decline in Yara
fertilizer deliveries, and Yara's NPK plants delivered a record production
Yara reports first-quarter net income after non-controlling interests of NOK
2,255 million (NOK 8.04 per share), compared with NOK 3,008 million (NOK 10.54
per share) a year earlier. Excluding net foreign exchange loss and special
items, the result was NOK 8.51 per share compared with NOK 8.32 per share in
first quarter 2012. First-quarter EBITDA excluding special items was NOK 4,094
million compared with NOK 3,933 million a year earlier.
"Yara reports a strong first quarter with stable margins and sales volumes,"
said Jørgen Ole Haslestad, President and Chief Executive Officer in Yara.
"Our production increased due to the Qafco expansions, the Lifeco re-start,
and a record production performance in Yara's NPK plants in the first
quarter," said Jørgen Ole Haslestad.
Additional ammonia and urea volumes from Qafco, Lifeco and Yara Pilbara more
than offset a small decline in Yara fertilizer deliveries. Urea sales
increased by 4%, mainly reflecting higher sales of Qafco urea in North America
and Brazil. NPK sales increased 2%, with deliveries of Yara-produced compound
NPK up 4%. Nitrate sales were in line with last year, as increased European
deliveries were offset by lower deliveries to markets outside Europe.
Ammonia prices increased by 37%, while realized urea prices were 1% higher
than a year ago. Realized nitrate prices were in line with last year, while
NPK compound prices were down 2%. NPK blend margins improved as the Brazil
market approached normal levels compared with a weak first quarter 2012.
Following a slow start to the 2012/13 season, Western European nitrogen
fertilizer industry deliveries increased in the fourth quarter and were stable
in the first quarter, leaving season-to-date deliveries 4% ahead of last year.
Yara's European deliveries were impacted by poor weather in March, but have
recovered so far in April as planting conditions have improved.
Link to report and presentation:
Link to webcast 22 April at 09:30 CEST:
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.
1Q 2013 Report
1Q 2013 Presentation
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information contained therein.
Source: Yara International ASA via Thomson Reuters ONE
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