Yara reports improving results

(Thomson Reuters ONE) - Oslo (2010-02-15): Yara International ASA reports improving results as marginsexpand from third quarter. Volumes were stable but demand and prices improvedstrongly at the end of the quarter.Yara reports fourth-quarter net income after non-controlling interests of NOK1,424 million (NOK 4.93 per share), compared with a negative NOK 2,109 millionlast year (NOK 7.27 per share). Excluding net foreign exchange losses andspecial items, the result was NOK 4.35 per share, compared with a negative NOK0.10 per share in fourth-quarter 2008. EBITDA for the quarter was NOK 1,394million compared with 1,626 in fourth quarter 2008. Yara's board will propose tothe Annual General Meeting a dividend payment of NOK 4.50 per share for 2009."Our underlying fourth-quarter results were non-satisfactory. Global NPK salescontinued tobe hampered by high potash prices, and until November European nitrate priceswere held back by European distrib­utors still unwilling to take positions forthe spring application", said J?n Ole Haslestad, President and ChiefExecutive Officer of Yara."We saw a major improvement in fertilizer markets towards the end of the fourthquarter, as global nitrogen and phosphate markets turned demand-driven.Increased global nitrogen prices stimulated demand from European distributors,enabling Yara to increase nitrate prices substantially with effect for Januarysales. Improved phosphate demand and falling potash prices have seen NPK salespick up, and Yara's NPK capacity has been fully utilized since the beginning ofJanuary", said J?n Ole Haslestad.Fourth-quarter fertilizer deliveries were up 37% on fourth quarter 2008.European fertilizer sales increased for all main product groups except NPK.European NPK sales continued to be hampered by high potash prices but increasedin December as nitrogen and phosphate demand improved. Industrial volumesin­creased 15% from fourth quarter 2008 and 8% from third quarter 2009.Yara continued to exercise tight inventory management in the fourth quarter,maintaining low stock levels in line with previous quarters and 43% below fourthquarter last year.European oil and gas costs decreased in line with Yara's third-quarter guidance.Link to 4th quarter webcast 15 February at 0930 CEThttp://media01.smartcom.no/Microsite/start.aspx?eventid=4928Contacts:Torgeir Kvidal, Investor RelationsTelephone  (+47) 24 15 72 95Cellular (+47) 91 33 98 32E-mail torgeir.kvidal(at)yara.com Asle Skredderberget, Media RelationsCellular (+47) 41 44 36 10E-mail asle.skredderberget(at)yara.com Yara International ASA is the world's leading chemical company that convertsenergy, natural minerals and nitrogen from the air into essential products forfarmers and industrial customers. As the number one global supplier of mineralfertilizers, we help provide food for a growing world population. Our industrialproduct portfolio includes environmental protection agents that prevent airpollution. Yara's global workforce of 8000 employees represents the greatdiversity and knowledge that enables Yara to remain a leading performer in theindustry.www.yara.com This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)[HUG#1384250]

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Datum: 15.02.2010 - 08:09 Uhr
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