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Tuossapa raporttia:
Yara reports strong fourth-quarter results (Hugin)
07.02.2012 klo 09:01
Oslo (2012-02-07): Yara International ASA reports strong fourth-quarter results,
primarily reflecting good farm profitability and improved margins. The 2011
annual result is the highest so far for Yara.
Yara reports fourth-quarter net income after non-controlling interests of NOK
3,386 million (NOK 11.84 per share), compared with NOK 1,564 million (NOK 5.42
per share) last year. Excluding net foreign exchange loss and special items, the
result was NOK 8.82 per share compared with NOK 6.25 per share in fourth quarter
2010. Fourth-quarter EBITDA excluding special items was NOK 4,001 million
compared with NOK 3,144 million last year. Yara's board will propose to the
Annual General Meeting a dividend payment of NOK 7 per share for 2011.
"Yara reports strong fourth-quarter results as margins improved compared with
last year, more than offsetting the impact of lower sales volumes," said Jørgen
Ole Haslestad, President and Chief Executive Officer of Yara.
"Northern hemisphere fertilizer customers have been reluctant to take positions
ahead of spring application, resulting in slow fourth-quarter sales overall.
However, crop prices and farm margins remain healthy, and fertilizer deliveries
will need to recover to avoid a decline in global grain stocks," said Jørgen Ole
Haslestad.
Adjusted for the shortfall of Libyan urea and structural changes, Yara
fertilizer deliveries were down 10% compared with fourth quarter 2010, while
margins improved particularly for urea and nitrates. Industrial volumes
increased 5%, reflecting growth in environmental products and technical ammonium
nitrates. Yara's production system ran slightly below normal levels in the
fourth quarter, in line with earlier guidance.
Activity levels have increased in global nitrogen markets during early first
quarter, and healthy farm margins indicate normal spring nitrogen consumption in
the Northern Hemisphere. However, European nitrogen industry deliveries for the
2011/2012 season could end lower than the previous season, due to the low
deliveries in second half 2011. Yara is targeting a stable European nitrate
market share for the season, compared with a year earlier.
Link to 4Q report and presentation:
http://www.yara.com/investor_relations/quarterly_report/index.aspxLink to 4Q webcast 07 February at 09:30 CET:
http://media01.smartcom.no/Microsite/start.aspx?eventid=6619