Yara reports strong first-quarter results
(Thomson Reuters ONE) -
Oslo, 24 April 2015: Yara International ASA delivered strong first-quarter
results, with higher deliveries and improved margins reflecting lower gas costs
and a stronger US dollar. The Lifeco write-down had a negative net income impact
of NOK 929 million.
"Yara reports strong first-quarter results with higher deliveries and improved
margins, reflecting continued lower natural gas cost and a stronger US dollar,"
said Torgeir Kvidal, Acting President and Chief Executive Officer of Yara.
"Ammonia and finished fertilizer production increased significantly in the
quarter, benefitting from improved reliability and debottlenecking," said
Torgeir Kvidal.
Yara reports first-quarter net income after non-controlling interests of NOK
729 million (NOK 2.65 per share), compared with NOK 1,773 million (NOK 6.40 per
share) a year earlier. Excluding net foreign exchange loss and special items,
the result was NOK 10.51 per share compared with NOK 7.03 per share first
quarter 2014. First-quarter EBITDA excluding special items was NOK 5,742 million
compared with NOK 3,830 million a year earlier.
Global Yara fertilizer deliveries were up 3% from first quarter 2014 due to the
acquisitions of OFD in Latin America and Galvani in Brazil. Excluding OFD and
Galvani, deliveries were slightly lower than last year. In Europe, fertilizer
deliveries were down 3% mainly due to a more normal spring this year compared
with an early spring last year. Fertilizer deliveries outside Europe were up
8%, however excluding OFD and Galvani, deliveries were in line with last year.
Industrial sales volumes increased by 11% compared with first quarter 2014.
Yara's margins benefitted from lower energy costs and a stronger US dollar in
the first quarter. While Yara's average realized urea prices decreased 10%,
realized nitrate prices were down 5% and compound NPK prices decreased on
average 3% compared with first quarter 2014. Industrial margins were higher
compared with a year earlier.
Global nitrogen demand remained strong during the first quarter but continued
high urea exports from China resulted in lower commodity nitrogen prices during
the quarter. Season-to-date nitrogen industry deliveries are in line with last
year in Europe while US nitrogen deliveries are 6% higher than the previous
season. Based on current forward markets for oil products and natural gas,
Yara's European energy costs for the next two quarters are expected to be NOK
800 million lower than a year earlier.
Link to report and presentation:
http://www.yara.com/investor_relations/quarterly_report/index.aspx
Link to webcast 24 April at 09:30 CEST:
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
Bernhard Stormyr, Media Relations
Cellular: (+47) 90 10 76 85
E-mail: bernhard.stormyr(at)yara.com
About Yara
Yara's knowledge, products and solutions grow farmers' and industrial customers'
businesses profitably and responsibly, while nurturing and protecting the
earth's resources, food and environment.
Our fertilizers, crop nutrition programs and technologies increase yields,
improve product quality and reduce the environmental impact of agricultural
practices. Our industrial and environmental solutions improve air quality by
reducing emissions from industry and transportation, and serve as key
ingredients in the production of a wide range of goods. We foster a culture that
promotes the safety of our employees, contractors and societies.
Founded in 1905 to solve emerging famine in Europe, today, Yara has a worldwide
presence, with more than 12,000 employees and sales to more than 150 countries.
www.yara.com
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
1Q 2015 Presentation:
http://hugin.info/134793/R/1914197/683974.pdf
1Q 2015 Report:
http://hugin.info/134793/R/1914197/683965.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#1914197]
Unternehmensinformation / Kurzprofil:
Datum: 24.04.2015 - 08:02 Uhr
Sprache: Deutsch
News-ID 388326
Anzahl Zeichen: 5084
contact information:
Town:
Oslo
Kategorie:
Business News
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