Yara Reports Strong Q4 Results

February 12, 2013 04:28 AM

The world's largest nitrogen fertilizer producer, Yara International ASA, reports strong gains over the fourth quarter including a 19% increase in global sendouts. According to a November report from the International Fertilizer Industry Association, world fertilizer demand is expected to rise 2.4% to a new record. With that in mind, Yara hopes to capitalize on acquisitions that will moderate the cost of raw materials and give Yara the boost it needs to reach it's 20120 goal of a 33% production increase by 2014.

"Yara reports strong fourth-quarter and full-year results, making room for a NOK 13 per share dividend, up from NOK 7 a year ago," said Jørgen Ole Haslestad, President and Chief Executive Officer in Yara.

Global Yara fertilizer deliveries were up 19% on fourth quarter 2011. Urea sales increased by 52%, mainly reflecting higher sales of Qafco urea in North America and Brazil. NPK sales increased 12% driven by higher sales in Brazil, and nitrate sales increased 25% compared with fourth quarter 2011. Slightly more than half of the nitrate increase was due to higher sales in Europe, where the fertilizer season is progressing well.

Following a slow start to the 2012/13 season, Western European nitrogen fertilizer industry deliveries increased 15% in the fourth quarter, with season to date deliveries 6% ahead of last year. Continued strong grain prices and a tightening global urea market create a positive backdrop for European nitrate markets going forward.

With world fertilizer demand on the rise and a forward-thinking acquisition strategy, Yara is well positioned to service nitrogen sendouts across the globe.


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