Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Yara International ASA    YAR   NO0010208051

YARA INTERNATIONAL ASA

(YAR)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Yara International : reports strong operational performance but weaker margins

share with twitter share with LinkedIn share with facebook
02/09/2017 | 02:03am EDT

Oslo, 9 February 2017: Yara International ASA delivered weaker fourth-quarter results compared with a year earlier. EBITDA excluding special items was 29% lower, as higher deliveries and lower energy costs were more than offset by lower fertilizer prices. Yara's board will propose to the Annual General Meeting a dividend payment of NOK 10 per share for 2016.

"Yara reports a weaker result than a year earlier, reflecting lower fertilizer prices as the global nitrogen price floor was tested during the quarter. But our operational performance improved significantly, with fertilizer sales and production up 15% and 11% respectively," said Svein Tore Holsether, President and Chief Executive Officer of Yara.

"The whole Yara organization is working hard to further improve operations, to deliver on the Yara improvement program which we have announced earlier. The program has already delivered approximately USD 25 million of EBITDA improvement in 2016, and will deliver at least USD 500 million of annual EBITDA improvement within 2020," said Holsether.

Yara reports fourth-quarter net income after non-controlling interests of negative NOK 333 million (NOK 1.22 per share), compared with a positive NOK 434 million (NOK 1.58 per share) a year earlier. Excluding net foreign exchange loss and special items, the result was NOK 1.66 per share compared with NOK 3.97 per share in fourth quarter 2015. Fourth-quarter EBITDA excluding special items was NOK 2,474 million compared with NOK 3,508 million a year earlier.

Deliveries of Yara-produced fertilizer including blends were 15% higher than in fourth quarter 2015. In addition, improved reliability and fewer turnarounds in Yara's production plants have enabled higher deliveries compared with a year earlier.

Adjusted for the divestment of the CO2 business, Industrial deliveries were 13% higher than a year earlier with growth for all products.

Yara's margins were significantly lower compared with a year earlier for both commodity upgrading margins and nitrate premiums. Yara's average realized urea and nitrate prices decreased 25% and 28% respectively, while realized NPK prices decreased by around 10%. Yara's average global gas costs were 17% lower than a year ago.

The global farm margin outlook and incentives for fertilizer application remains supportive overall, and while grain prices are lower, prices for several key crops like sugar, coffee and oils are higher than a year ago.

In Europe, higher nitrogen prices globally have contributed to a positive price and volume momentum for nitrates, and Yara first-quarter European nitrate deliveries are ahead of the same period last year.

As communicated earlier, Yara has established a corporate program to drive and coordinate existing and new improvement initiatives. The Yara Improvement program will deliver at least USD 500 million of annual EBITDA improvement by 2020, of which an estimated USD 150 million will be realized in 2017.

Yara is executing significant expansion activity, and based on today's market prices these are expected to generate approximately NOK 6 per share of incremental earnings by 2020 when fully operational.

Link to report and presentation:
http://www.yara.com/investor_relations/quarterly_report/index.aspx

Link to webcast 9 February at 09:30 CET:
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@yara.com

Esben Tuman, Media Relations
Office:    (+47) 24 15 70 26
Cellular: (+47) 90 50 84 00
E-mail: esben.tuman@yara.com


About Yara

Yara's knowledge, products and solutions grow farmers', distributors' and industrial customers' businesses profitably and responsibly, while 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 16,000 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.





This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Yara International ASA via Globenewswire

share with twitter share with LinkedIn share with facebook
All news about YARA INTERNATIONAL ASA
05:07aYARA INTERNATIONAL : Organisations Gang Up to Support Vulnerable Farmers With Fa..
AQ
09/21YARA INTERNATIONAL : Chilima Rolls Out Free Fertilizer Distribution Program for ..
AQ
09/21YARA INTERNATIONAL : Buy-back of own shares - Yara International
AQ
09/21YARA INTERNATIONAL : Organisational changes and ESG investor seminar
AQ
09/21Organisational changes and ESG investor seminar
GL
09/18YARA INTERNATIONAL : Buy-back of own shares - Yara International
AQ
09/17YARA INTERNATIONAL : Buy-back of own shares - Yara International
AQ
09/17YARA INTERNATIONAL : Minister Commends Yara Programme to Smallholder Farmers
AQ
09/16YARA INTERNATIONAL : Buy-back of own shares - Yara International
AQ
09/15YARA INTERNATIONAL : Buy-back of own shares - Yara International
AQ
More news
Financials
Sales 2020 111 B 11 975 M 11 975 M
Net income 2020 5 525 M 594 M 594 M
Net Debt 2020 29 057 M 3 126 M 3 126 M
P/E ratio 2020 16,9x
Yield 2020 4,50%
Capitalization 93 182 M 9 995 M 10 025 M
EV / Sales 2020 1,10x
EV / Sales 2021 1,04x
Nbr of Employees 16 033
Free-Float 63,2%
Chart YARA INTERNATIONAL ASA
Duration : Period :
Yara International ASA Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends YARA INTERNATIONAL ASA
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 20
Average target price 416,53 NOK
Last Close Price 345,10 NOK
Spread / Highest target 37,6%
Spread / Average Target 20,7%
Spread / Lowest Target -0,03%
EPS Revisions
Managers
NameTitle
Svein Tore Holsether President & Chief Executive Officer
Trond Berger Chairman
Lars Røsæg Chief Financial Officer & Executive Vice President
Geir Olav Sundbø Independent Director
Rune Asle Bratteberg Independent Director
Sector and Competitors