Oslo, 8 February 2023: Fourth-quarter EBITDA excl. special items1 was USD 1,067 million, compared with USD 765 million a year earlier. Net income attributable to shareholders of the parent was USD 769 million (USD 3.02 per share) compared with USD 41 million (USD 0.16 per share) a year earlier.
The main elements of the fourth-quarter results are:
- Improved results with strong cash flow and increased returns across all commercial segments
- Improved ammonia production reliability and continued optimization of production amid margin volatility
- Lower deliveries, however improved farmer affordability and profitability metrics ahead of main application season
- Strong organizational performance in 2022 to optimize operations, maintaining supply to customers amid significant raw material sourcing challenges and volatile market conditions
- NOK 55 per share annual dividend proposed, bringing total 2022 distribution to 65 per share
The energy transition, climate crisis and food security have become top priorities globally. With its leading food solutions and ammonia positions, Yara is uniquely positioned to drive these transformations. Furthermore, the volatile operating conditions of the past years has shown the resilience of Yara’s global and flexible business model.
“Yara has delivered solid results throughout a year shaped by war and market volatility. I want to thank the whole Yara organization for all the hard work to navigate a challenging operating environment and continue to provide society with vital products” said Svein Tore Holsether, President and Chief Executive Officer of Yara.
“Yara has demonstrated its resilience in a challenging situation, with its global production and distribution footprint, flexible asset base and world-leading capabilities within ammonia transport and storage. However, I am concerned about European industry. The U.S. Inflation Reduction Act (IRA) will create much-needed decarbonization momentum, and must be matched by swift and bold action by European authorities. If Europe does not act, it risks losing both its ability to decarbonize and important existing industry,” said Holsether.
During 2022, higher prices saw farmers and distributors in some regions postpone purchases, creating supply overhangs and contributing to price declines and low market activity towards the end of 2022 and at the start of 2023. However, the price declines have led to improved farmer affordability and profitability metrics, and catch-up demand potential is seen in most regions.
Link to report, presentation and webcast 8 February at 12:00 CET:
https://www.yara.com/investor-relations/latest-quarterly-report/
1) For definition and reconciliation of Alternative Performance Measures, see APM section in 4Q report, page 33-40
Note on Alternative performance measures: Alternative performance measures are defined, explained and reconciled to the Financial statements in the APM section of the Quarterly report on pages 33-40
Contact:
Anika Jovik
Investor contact
Mobile: +47 47224959
E-mail: anika.jovik@yara.com
Tonje Næss
Media contact
Mobile: +47 40844647
E-mail: tonje.nass@yara.com
About Yara
Yara grows knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger and a planet respected, we pursue a strategy of sustainable value growth, promoting climate-friendly crop nutrition and zero-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 achieve our ambition, we have taken the lead in developing digital farming tools for precision farming and work closely with partners throughout the food value chain to improve the efficiency and sustainability of food production. Through our focus on clean ammonia production, we aim to enable the hydrogen economy, driving a green transition of shipping, fertilizer production and other energy intensive industries.
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. We operate an integrated business model with around 17,000 employees and operations in over 60 countries, with a proven track record of strong returns. In 2022, Yara reported revenues of USD 24 billion.
www.yara.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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