Yara delivers strong performance, despite market volatility

  • Yara delivers strong margins with improved returns across all commercial segments, more than offsetting lower deliveries
  • Third-quarter EBITDA excl. special items1 was USD 1,001 million, compared with USD 765 million a year earlier
  • Net income attributable to shareholders of the parent was USD 400 million (USD 1.57 per share) compared with a net loss of USD 143 million (USD -0.56 per share) a year earlier

“Yara’s business model has proven its resilience for decades and continues to perform well despite a challenging operating environment with extreme price volatility and plant curtailments in Europe. Our returns are up, with strong margins more than offsetting lower deliveries, thanks to the strong efforts of our entire organization”, said Svein Tore Holsether, President and Chief Executive Officer of Yara.

“However, we remain deeply concerned about the food and fertilizer supply situation in Europe and globally, and repeat our call for urgent action to reduce dependency on Russia”, said Holsether.

Yara’s market environment is supportive, with continuity in food production and related value chains remaining a top priority globally. However, the operating environment remains challenging, primarily as a result of unprecedented gas price volatility in Europe. Yara continues to adapt to market conditions and has curtailments in several of its production plants, currently amounting to an annual capacity of 1,7 million tonnes of ammonia and 0,9 million tonnes of finished fertilizer. Yara will where possible continue to use its global sourcing and production system to supply customers, but cannot produce at negative margins.