Yara reports strong fourth-quarter results with improved margins
(Thomson Reuters ONE) -
Oslo, 11 February 2015: Yara International ASA delivered strong fourth-quarter
results, with margins benefiting from lower European gas prices and a stronger
US dollar. Yara's board will propose to the Annual General Meeting a dividend
payment of NOK 13 per share for 2014.
"Yara reports strong fourth-quarter results with improved margins, reflecting
lower natural gas cost in Europe and a stronger US dollar," said Torgeir Kvidal,
Acting President and Chief Executive Officer of Yara.
"Our Brazilian activities continue to perform well, with both higher volumes and
margins. We are also ahead of plan with synergy capture from the Bunge
acquisition, with USD 55 million realized in 2014," said Torgeir Kvidal.
Yara reports fourth-quarter net income after non-controlling interests of NOK
1,860 million (NOK 6.74 per share), compared with NOK 63 million (NOK 0.23 per
share) a year earlier. Excluding net foreign exchange loss and special items,
the result was NOK 8.17 per share compared with NOK 2.80 per share fourth
quarter 2013. Fourth-quarter EBITDA excluding special items was NOK 4,528
million compared with NOK 2,360 million a year earlier.
Yara's fertilizer deliveries were up 7% from fourth quarter 2013, mainly due to
the acquisition of OFD in Latin America which was completed 1 October.
Excluding OFD, deliveries are up 2%, driven by a 7% increase in deliveries
outside Europe. Industrial sales volumes increased by 3% compared with fourth
quarter 2013.
Yara's margins benefited from lower energy costs and a stronger US dollar during
the fourth quarter. While Yara's global average oil and gas cost decreased 17%
in the fourth quarter, Yara's average realized urea prices increased 5% compared
to a year ago and realized nitrate and NPK 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 fourth quarter. Season to date
industry deliveries are higher than the previous season both in Europe and the
US, and Yara enters the first quarter with a strong European order book. A
weaker euro and lower gas prices have improved the relative competitiveness of
European fertilizer capacity. Based on current forward markets for oil products
and natural gas, Yara's European energy costs next two quarters are expected to
be NOK 2 billion lower than a year earlier.
Link to report and presentation:
http://www.yara.com/investor_relations/quarterly_report/index.aspx
Link to webcast 11 February at 09:30 CET:
http://www.yara.com/investor_relations/financial_webcasts/index.aspx
Contact
Anders Lerstad, Investor Relations
Telephone: (+47) 24 15 72 95
Cellular: (+47) 93 42 69 54
E-mail: anders.lerstad(at)yara.com
Esben Tuman, Media Relations
Telephone: (+47) 24 15 70 26
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 to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
4Q 2014 Presentation:
http://hugin.info/134793/R/1893352/670937.pdf
4Q 2014 Report:
http://hugin.info/134793/R/1893352/670886.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#1893352]
Unternehmensinformation / Kurzprofil:
Datum: 11.02.2015 - 08:01 Uhr
Sprache: Deutsch
News-ID 370763
Anzahl Zeichen: 4593
contact information:
Town:
Oslo
Kategorie:
Business News
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