Yara reports strong second-quarter results
(Thomson Reuters ONE) -
Oslo, 21 July 2015: Yara International ASA delivered strong second-quarter
results, with increased deliveries and improved margins. Both fertilizer and
industrial deliveries were higher, reflecting both organic growth and recent
acquisitions.
"Yara reports strong second-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.
"Sales of our premium products continue to grow in Latin America and Asia,
reflecting both the acquisition of OFD and continued organic growth," said
Torgeir Kvidal.
Yara reports second-quarter net income after non-controlling interests of NOK
2,916 million (NOK 10.59 per share), compared with NOK 2,285 million (NOK 8.26
per share) a year earlier. Excluding net foreign exchange loss and special
items, the result was NOK 9.58 per share compared with NOK 7.74 per share second
quarter 2014. Second-quarter EBITDA excluding special items was NOK 5,055
million compared with NOK 4,185 million a year earlier.
Global Yara fertilizer deliveries were up 6% from second quarter 2014, mainly
due to the acquisitions of OFD in Latin America and Galvani in Brazil. Excluding
OFD and Galvani, deliveries were down 2%. In Europe, fertilizer deliveries were
in line with last year, with strong nitrate volumes offsetting lower NPK
deliveries. Nitrate deliveries were up 14% compared with last year, reflecting a
positive start to the new fertilizer season in Europe. Fertilizer deliveries
outside Europe were up 9%, however excluding OFD and Galvani, deliveries were
down 3% reflecting a weaker Brazilian market. Industrial sales volumes increased
by 9% compared with second quarter 2014 driven by growth in sales of process
chemicals in Europe and environmental products.
Yara's margins benefitted from lower energy costs and a stronger US dollar.
While Yara's average global gas costs were 17% lower than a year ago, realized
urea prices decreased 12%,realized nitrate prices were down 20% and compound NPK
prices decreased on average 8% compared with second quarter 2014.
Global nitrogen demand remained strong during the second quarter, with global
nitrogen commodity prices rebounding during the second quarter as the Chinese
domestic market tightened due to a surge in exports. Season-to-date nitrogen
industry deliveries in Western Europe were down 2% but in line with the five-
year average. In Brazil, year-to-date deliveries are 10% lower than last year
but a pickup is expected during second half. In Europe, Yara enters the third
quarter with a healthy order book, and 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 400 million lower than a year earlier.
Link to report and presentation:
http://www.yara.com/investor_relations/quarterly_report/index.aspx
Link to webcast 21 July 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.
2Q 2015 Report:
http://hugin.info/134793/R/1939944/700308.pdf
2Q 2015 Presentation:
http://hugin.info/134793/R/1939944/700452.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#1939944]
Unternehmensinformation / Kurzprofil:
Datum: 21.07.2015 - 08:00 Uhr
Sprache: Deutsch
News-ID 407973
Anzahl Zeichen: 5461
contact information:
Town:
Oslo
Kategorie:
Business News
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