In This Article:
Yara 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:
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EBITDA excluding special items1 of 585 MUSD
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Strong premium1 generation
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All-time high production performance2
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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.