Yara reports improved earnings
Source: GlobeNewswireYara reports third-quarter EBITDA excluding special items1 of USD 585 million compared with USD 396 million in third quarter 2023. Net income was USD 286 million compared with USD 2 million a year earlier.
Third-quarter 2024 highlights:
- EBITDA excluding special items1 of 585 MUSD
- Strong premium1 generation
- All-time high production performance2
- Returns improving but still below target, cost and portfolio optimization continues
“Yara is delivering all-time high production performance and strong premiums this quarter, a testament to the robustness of our operations and the value of our core business,” said Svein Tore Holsether, President and Chief Executive Officer.
Sustainable profitability in core operations and value-accretive growth opportunities are both critical to enable a fit-for-future Yara. While Yara has successfully navigated recent volatility by focusing on operational continuity, recent returns have been below satisfactory levels. Yara is therefore taking action to improve profitability, including a stricter prioritization towards core operations and high-return assets, while scaling back non-core and lower-return activities. This includes performing an asset portfolio review with the aim to prioritize and optimize its portfolio to ensure a fit-for-future asset base.
“Returns are improving, and I am confident that we will succeed with the necessary changes to ensure sustainable profitability and increase shareholder returns through our sharpened focus on our core operations and value-accretive growth, ” said Holsether.
Link to report, presentation, and webcast on 25 October 2024, at 12:00 CEST:
https://www.yara.com/investor-relations/latest-quarterly-report/
1) See pages 24-32 of the 3Q 2024 Report for definitions, explanations, and reconciliations of Alternative performance measures (APMs).
2) In YIP production terms, excluding Montoir volumes.
Contact
Maria Gabrielsen
Head of Investor Relations
M: +47 920 900 93
E: maria.gabrielsen@yara.com
Tonje Næss
Media contact
M: +47 408 446 47
E: tonje.nass@yara.com
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Maria Gabrielsen, Head of Investor Relations, at Yara International ASA, on 25 October 2024 at 08:00 CEST.
About Yara
Yara's mission is to responsibly feed the world and protect the planet. We pursue a strategy of sustainable value growth through reducing emissions from crop nutrition production and developing low-emission energy solutions. Yara’s ambition is focused on growing a nature-positive food future that creates value for our customers, shareholders and society at large and delivers a more sustainable food value chain.
To drive the green shift in fertilizer production, shipping, and other energy intensive industries, Yara will produce ammonia with significantly lower emissions. We provide digital tools for precision farming and work closely with partners at all levels of the food value chain to share knowledge and promote more efficient and sustainable solutions.
Founded in 1905 to solve the emerging famine in Europe, Yara has established a unique position as the industry’s only global crop nutrition company. With 18,000 employees and operations in more than 60 countries, sustainability is an integral part of our business model. In 2023, Yara reported revenues of USD 15.5 billion.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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