Yara International announced its third-quarter earnings, reporting an EBITDA excluding special items of USD 585 million, up from USD 396 million in the same quarter of 2023. The company also achieved a net income of USD 286 million, a significant increase compared to just USD 2 million a year earlier.
Third-Quarter Highlights:
- EBITDA (excluding special items): USD 585 million
- Strong Premium Generation
- All-Time High Production Performance
- Ongoing Improvement in Returns, with Continued Focus on Cost and Portfolio Optimization
“Yara has achieved all-time high production performance and robust premiums this quarter, demonstrating the strength of our operations and the value of our core business,” stated Svein Tore Holsether, President and CEO.
Yara emphasizes the importance of sustainable profitability in its core operations and seeks value-accretive growth opportunities to ensure a future-ready company. Despite successfully managing recent market volatility through operational continuity, the company acknowledges that its returns have not yet reached satisfactory levels. Consequently, Yara is taking measures to enhance profitability by prioritizing core operations and high-return assets, while scaling back non-core and lower-return activities. This includes a comprehensive review of its asset portfolio to align with a fit-for-future strategy.
“Returns are improving, and I am confident that we will successfully implement the necessary changes to ensure sustainable profitability and enhance shareholder returns through our focused approach on core operations and growth opportunities,” Holsether added.
This announcement contains inside information in accordance with the EU Market Abuse Regulation and complies with the disclosure requirements of Section 5-12 of the Norwegian Securities Trading Act. The announcement was published by Maria Gabrielsen, Head of Investor Relations at Yara International ASA, on October 25, 2024, at 08:00 CEST.
About Yara
Yara’s mission is to responsibly feed the world and protect the planet. The company is committed to sustainable value growth by reducing emissions from crop nutrition production and developing low-emission energy solutions. Yara aims to foster a nature-positive food future that benefits customers, shareholders, and society while promoting a more sustainable food value chain.
To support the green transition in fertilizer production and other energy-intensive industries, Yara is focused on producing ammonia with significantly lower emissions. The company also provides digital tools for precision farming and collaborates with partners across the food value chain to share knowledge and advance sustainable practices.
Founded in 1905 to address emerging famine in Europe, Yara has established itself as the only global crop nutrition company, employing 18,000 individuals and operating in over 60 countries. Sustainability is integral to Yara’s business model, and in 2023, the company reported revenues of USD 15.5 billion.
