Yara International : Consensus estimates - 14 October 2021

Yara

October 14, 2021

Date of next report: October 20, 2021 (08:00 CET)

Date of last report: July 16, 2021

Latest update	Recommendations	Target price (NOK)
October 14, 2021	Buy/add	4	Average	464
	Hold/neutral	5	Contributors	10
Oldest update	Sell/reduce	2
September 17, 2021

	Quarterly estimates						Yearly estimates
Currency:	2020Q3	2021Q3						2020Y	2021Y		2022Y		2023Y
USDm	Actual	Average	Median	Low	High	Contr		Actual	Average	Contr	Average	Contr	Average	Contr
Revenue and other income	3,083	4,269	4,130	3,299	5,849	10	11,728	16,402	8	16,418	8	15,482	8
Growth	-11.7%	38.5%	33.9%	7.0%	89.7%	10	-9.3%	39.9%	8	0.1%	8	-5.7%	8
Operating income (Yara definition)	384	67.1	61	19	173	10	1,176	1,146	8	1,584	8	1,552	8
Margin	12.5%	1.6%	1.4%	0.5%	3.7%	10	10.0%	7.0%	8	9.6%	8	10.0%	8
EBITDA (Yara def) excl Special items	558	732	733	680	845	11	2,161	2,622	8
Margin	18.1%	17.1%	17.1%	12.8%	23.0%	10	18.4%	16.0%	8
Total special items in EBITDA (Yara definition)	87	0	0	0	0	11	62	24.0	8
EBITDA (Yara definition)	645	732	733	680	845	11	2,223	2,646	8	2,658	8	2,628	8
Margin	20.9%	17.1%	17.1%	12.8%	23.0%	10	19.0%	16.1%	8	16.2%	8	17.0%	8
Foreign currency translation gain/loss	26	-5.0	0	-35	0	7	-243	-9.0	4	0	0	0	0
Income before tax	385	36.9	21	-29	152	10	850	1,027	7	1,496	7	1,453	7
Net income, parent shareholders	339	-28.4	-44	-101	119	11	691	681	8	1,119	8	1,127	8
EPS	1.27	-0.11	-0.17	-0.40	0.47	11	2.58	2.67	8	4.39	8	4.43	8
Analysts' EPS ex currency and special items	0.88	1.34	1.26	1.17	1.74	7	3.08	3.92	4
No of shares in EPS calculation		254.7	254.7	254.7	254.7				254.7		254.7		254.7
Ordinary DPS (NOK)							20.00	34.00	8	27.20	8	26.54	8
Ordinary DPS (USD)							2.36	4.04	8	3.23	8	3.15	8
Contributors													Contact: Kristian Lang
ABG Sundal Collier	SEB Equities													Infront
Berenberg Bank												Telephone: [phone]
BMO Capital Markets											E-mail: [e-mail]
BofA Securities

Carnegie

Equita SIM

Exane BNP Paribas

Nordea Markets

Norne Securities

Pareto Securities

Definitions

Common			Statistics
Contributors	Name of the contributing firms		Actual	Outcome same period last year
Date of report	Date of the company's next interim report		Average	Arithmetic mean
Latest report	Date of the company's latest interim report		Chg Q	Change in	consensus (average)	since last report, in percent
Latest update	Date of the latest analyst report, included in consensus		Contr	Number of contributors/analysts
Next report	Date of the company's next interim report		Median	The estimate in the middle of the estimates included in consensus
Oldest update	Date of the oldest analyst report, included in consensus		Low	The smallest estimate in the consensus
Target price	The contributors/analysts price target 6-12 month		High	The largest estimate in the consensus
			Std	Estimates standard deviation based on the estimates included in consensus
Variables
The variables are defined according to the company's own definitions
DPS	Dividend per share
EPS	Earnings per share, calculated from analysts net profit and Infront Data's number of shares
Growth	Growth in the P&L level above compared to same period last year
Margin	Margin for the P&L level above. P&L level divided by sales excluding VAT
Net earnings	Net earnings attributable to parent company shareholders
No of shares in EPS calculation	Total number of shares outstanding
Disclaimer			Contact Information
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The report has been compiled exclusively for the customers of Infront Data and the consent of Infront Data is required for		Contact: Kristian Lang	Contact: Jeff Braun
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