Yara reports strong third-quarter results with increased deliveries
(Thomson Reuters ONE) -
Oslo, 21 October 2015: Yara International ASA delivered strong third-quarter
results, with EBITDA excluding special items up 15% compared with a year
earlier, mainly driven by a stronger US dollar and higher sales volumes as a
result of the OFD and Galvani acquisitions.
"I am pleased to see continued growth in our premium product deliveries during
the quarter, with the strongest growth in overseas markets," said Svein Tore
Holsether, President and Chief Executive Officer of Yara.
Yara reports third-quarter net income after non-controlling interests of NOK
4,004 million (NOK 14.56 per share), compared with NOK 1,707 million (NOK 6.18
per share) a year earlier. Excluding net foreign exchange loss and special
items, the result was NOK 7.41 per share compared with NOK 7.62 per share third
quarter 2014. Third-quarter EBITDA excluding special items was NOK 4,614 million
compared with NOK 4,002 million a year earlier.
Global Yara fertilizer deliveries were up 1% from third quarter 2014, mainly due
to the acquisitions of OFD in Latin America and Galvani in Brazil. Excluding OFD
and Galvani, deliveries were down 8%, with lower deliveries of third-party and
joint venture sourced products, while sales of Yara-produced products were in
line with last year.
In Europe, fertilizer deliveries were 5% lower than last year. While nitrate
sales increased compared to a year ago, both compound NPK and urea sales
decreased by more than 10% compared to last year. In Brazil, underlying
deliveries declined 6%, with a 10% decrease in blended NPK deliveries while
sales of premium products increased 9%. Industrial sales volumes increased 5%
compared to third quarter 2014.
Yara's margins declined compared to third quarter last year as realized prices
fell more than feed stock costs. Realized urea prices decreased 15%, realized
nitrate prices were down 17% and compound NPK prices decreased on average 12%
compared with third quarter 2014, while Yara's average global gas costs were
13% lower than a year ago.
The global farm margin outlook and incentives for fertilizer application remain
supportive overall, especially for key crop exporting regions such as Europe and
Latin America where local currencies have depreciated relative to the US dollar.
The European season has started well, with third-quarter nitrate deliveries and
industry stocks at normal levels. Yara sees improved demand in Brazil going
forward, due to increased agricultural competitiveness compared with other
exporting regions. 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 850 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 October at 09:30 CEST:
http://www.yara.com/investor_relations/financial_webcasts/index.aspx
Contact
Thor Giæver, Investor Relations
Office: (+47) 24 15 72 95
Cellular: (+47) 48 07 53 56
E-mail: thor.giaver(at)yara.com
Esben Tuman, Media Relations
Office: (+47) 24 15 70 26
Cellular: (+47) 90 50 84 00
E-mail: esben.tuman(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.
3Q 2015 Report:
http://hugin.info/134793/R/1960181/714515.pdf
3Q 2015 Presentation:
http://hugin.info/134793/R/1960181/714531.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#1960181]
Unternehmensinformation / Kurzprofil:
Datum: 21.10.2015 - 08:00 Uhr
Sprache: Deutsch
News-ID 428375
Anzahl Zeichen: 5328
contact information:
Town:
Oslo
Kategorie:
Business News
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