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3RD QTR: YARA INTERNATIONAL SALES UP 2%, NET INCOME DOWN 26%
Oct. 22, 2012
Source: Yara International news release
To view entire report, click here.
Yara reports third-quarter net income after non-controlling interests of NOK 2,616 million (NOK 9.30 per share), compared with NOK 3,566 million (NOK 12.42 per share) last year. Excluding net foreign exchange gain and special items, the result was NOK 9.05 per share compared with NOK 9.13 per share in third quarter 2011. Third-quarter EBITDA excluding special items was NOK 4,186 million compared with NOK 4,211 million last year.
"I am particularly pleased with our production growth this quarter, due to both higher regularity in Yara plants and increased capacity in Qatar," said Jørgen Ole Haslestad, President and Chief Executive Officer in Yara.
Global Yara fertilizer deliveries were up 4% on third quarter 2011. Urea sales increased by 13%, mainly reflecting higher sales in Brazil and North America. NPK sales increased 5%, driven by higher sales in North Europe. Nitrate sales decreased by 6% compared with third quarter last year, with lower European nitrate deliveries partly offset by strong nitrate sales growth in Brazil.
Nitrogen fertilizer industry deliveries for the 2011/12 season in Western Europe were 10% lower than a year earlier, as cold and dry spring planting conditions impacted overall consumption. Pre-buying incentives for the new season are significantly stronger than a year ago, with higher grain prices and lower nitrogen fertilizer prices. The pre-buying phase of the European 2012/13 season has now started, with third-quarter nitrogen fertilizer industry deliveries in line with last year.
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