Yara reports strong third-quarter results with record deliveries
(Thomson Reuters ONE) -
Oslo, 22 October 2014: Yara International ASA delivered strong third-quarter
results, with record fertilizer deliveries and continued margin benefit from
lower European gas price.
"Yara reports a strong third-quarter result with record deliveries, reflecting
both organic growth and the Bunge acquisition in Brazil," said Torgeir Kvidal,
Acting Chief Executive Officer of Yara.
"Our European production plants performed well, with both higher production and
improved margins as natural gas cost has declined," said Torgeir Kvidal.
Yara reports third-quarter net income after non-controlling interests of NOK
1,707 million (NOK 6.18 per share), compared with NOK 1,571 million (NOK 5.66
per share) a year earlier. Excluding net foreign exchange loss and special
items, the result was NOK 7.62 per share compared with NOK 5.62 per share third
quarter 2013. Third-quarter EBITDA excluding special items was NOK 4,002 million
compared with NOK 3,223 million a year earlier.
Global Yara fertilizer deliveries were up 16% on third quarter last year, mainly
driven by Brazil with the inclusion of the Bunge volumes from 8 August 2013.
Excluding Brazil, fertilizer deliveries were up 6% compared with third quarter
2013, mainly due to higher deliveries of urea and nitrates. Industrial sales
increased by 7% compared with third quarter 2013 with Air1 deliveries up 34% as
demand remains strong in both the US and Europe.
Yara's margins benefited from lower energy costs during the third quarter. While
Yara's global average oil and gas cost decreased 19% in the third quarter,
Yara's average realized urea prices increased 3% compared to a year ago and
realized nitrate prices were at the same level as last year. Industrial margins
increased for all main product groups except technical ammonium nitrate.
Global nitrogen demand remained strong during the third quarter, while supply
curtailments continued in several key export locations. Third-quarter nitrogen
fertilizer deliveries in Western Europe were up 5% on last year, with deliveries
particularly strong in September. US nitrogen deliveries in the quarter are
estimated to be 12% higher than a year ago.
Lower European natural gas prices have improved the relative competitiveness of
European ammonia/urea plants. Based on current forward markets for oil products
and natural gas Yara's European energy costs next two quarters are expected to
be NOK 1,150 million lower than a year earlier.
Link to report and presentation:
http://www.yara.com/investor_relations/quarterly_report/index.aspx
Link to webcast 22 October at 09:30 CEST:
http://www.yara.com/investor_relations/financial_webcasts/index.aspx
Contact
Anders Lerstad, Investor Relations
Cellular (+47) 93 42 69 54
E-mail anders.lerstad(at)yara.com
Esben Tuman, Media Relations
Cellular (+47) 90 50 84 00
E-mail esben.tuman(at)yara.com
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.
www.yara.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
3Q 2014 Report:
http://hugin.info/134793/R/1864599/654502.pdf
3Q 2014 Presentation:
http://hugin.info/134793/R/1864599/654501.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1864599]
Unternehmensinformation / Kurzprofil:
Datum: 22.10.2014 - 08:01 Uhr
Sprache: Deutsch
News-ID 345949
Anzahl Zeichen: 4560
contact information:
Town:
Oslo
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 202 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Yara reports strong third-quarter results with record deliveries"
steht unter der journalistisch-redaktionellen Verantwortung von
Yara International ASA (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
