Yara reports strong results and promising start to new season
(Thomson Reuters ONE) -
Oslo (2010-07-16): Yara International ASA reports strong results in second
quarter 2010 due to healthy margin improvements. The quarterly results benefit
further from the conclusion of the sale of Yara's stake in Fosfertil.
Second-quarter net income after non-controlling interests is NOK 3,716 million
(NOK 12.86 per share), compared with NOK 1,122 million (NOK 3.88 per share) last
year. Excluding net foreign exchange gain/loss and special items, the result was
approximately NOK 5.22 per share compared with NOK 1.19 per share in second
quarter 2009. EBITDA for the quarter was NOK 6,587 million compared with NOK
1,259 million in second quarter 2009.
"Yara reports strong second-quarter results as fertilizer margins improved and
production ran at close to optimal capacity utilization. The second-quarter
result benefits further from the NOK 2.6 billion after-tax gain on the sale of
Yara's shares in the Brazilian phosphate producer Fosfertil," said Jørgen Ole
Haslestad, President and Chief Executive Officer of Yara.
"The new fertilizer season has had a promising start. Global nitrogen prices
have increased as demand has picked up, and European nitrate prices have started
substantially higher than at the beginning of the previous season, supported by
low inventories. Fertilizer demand is backed by strong consumption growth for
agricultural products and concerns that last years' record yields following
favourable weather may not be repeated," said Jørgen Ole Haslestad.
Fertilizer margins improved as realized nitrate prices were up 13% compared with
last year, and NPK sales to core markets replaced lower-margin tender sales.
Yara's fertilizer deliveries ended 9% below last year, mainly due to high
nitrate sales last year when prices were reduced to cut stocks, while NPK
deliveries were up 5% from last year. Industrial segment sales continued to
rebound and were up 21%, with strong growth for technical nitrates to the mining
industry and nitrogen chemicals to the process industry. Fertilizer production
increased 17% from last year when significant NPK curtailments were needed.
Yara's fertilizer stocks ended in line with last year.
Link to 2(nd) quarter webcast 16 July at 0930 CET
http://media01.smartcom.no/Microsite/start.aspx?eventid=5354
Contact
Torgeir Kvidal, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 91 339 832
E-mailtorgeir.kvidal(at)yara.com
Bente Slaatten, Media Relations
Cellular (+47) 91 60 62 15
E-mailbente.slatten(at)yara.com
Yara International ASA is the world's leading chemical company that converts
energy, natural minerals and nitrogen from the air into essential products for
farmers and industrial customers. As the number one global supplier of mineral
fertilizers, we help provide food for a growing world population. Our industrial
product portfolio includes environmental protection agents that prevent air
pollution. Yara's global workforce of 7,600 employees represents the great
diversity and knowledge that enables Yara to remain a leading performer in the
industry.
www.yara.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1432112]
Second quarter presentation 2010: http://hugin.info/134793/R/1432112/378362.pdf
Second quarter report 2010: http://hugin.info/134793/R/1432112/378364.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Yara International ASA via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 16.07.2010 - 08:02 Uhr
Sprache: Deutsch
News-ID 24019
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contact information:
Town:
Oslo
Kategorie:
Business News
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