Fertilizer maker Yara tops Q3 profit expectations
Yara International reported its core earnings for the third quarter above expectations on Friday. The company cited record production as well as its focus on core business to increase profitability. The third-quarter earnings (EBITDA) before interest, taxes, depreciation and amortisation, excluding items that affect comparability, increased by more than 47% compared to a year ago, reaching $585 million. A poll conducted by the company showed that analysts had expected $482 million on average.
Spain's Energy Firms Look to Central Europe Markets for Green Hydrogen Deals
Spanish oil company Cepsa signed on Wednesday two agreements aimed at shipping green hydrogen between Spain and the Netherlands, a day after renewable energy giant Iberdrola took a similar step.The two Spanish companies are vying to become green hydrogen leaders, with planned investments worth billions of euros. The recent agreements will help them sell part of their expected production of green hydrogen and derivatives to industrial customers eager to decarbonize in Europe's economic powerhouse…
Marine Scrubbers: Yara Marine Plots the Path Forward, Post-COVID-19
Yara Marine Technologies COO Ina Reksten and Research and Development Manager Shyam Bahadur Thapa reflect on the effects of the coronavirus crisis and share their vision for a future beyond the pandemic.2020 will go down in history as the year that changed everything for many industries, not least the marine exhaust gas cleaning segment. “The coronavirus turned our world upside down virtually overnight,” confirms Ina Reksten, Yara Marine Technologies COO. Driven by the impending IMO 2020 sulfur cap…
Mozambique Awards Gas Development Projects to Yara, Shell
Mozambique, which has vast offshore gas resources, has awarded gas development projects to Norway's Yara International, Shell Mozambique and GL Energy Africa, the National Petroleum Institute (NPI) said on Monday. Yara will develop fertilisers and 30-50 megawatts (MW) of power while Shell Mozambique will produce diesel and 50-80 MW of power. GL Energy Africa will produce 250 MW from gas resources, the NPI said in a statement on its website. (Reporting by Manuel Mucari; Writing by Ed Stoddard; Editing by David Goodman)
Yara Approves Dividend, Share buy-back
The Yara International ASA Annual General Meeting yesterday approved a dividend of NOK 15.00 per share and a new Power of attorney to the Board regarding acquisition of own shares. All shareholder-elected Board members and all Nomination Committee members were re-elected. The dividend of NOK 15.00 per share will be paid on 24 May 2016 to shareholders as of 10 May 2016, and the Yara share will be traded ex-dividend from 11 May 2016. American Depository Receipts (ADRs) will also be traded ex-dividend from 11 May 2016, with a dividend payment date of 1 June 2016.
Yara Logs Strong Growth
Yara International ASA delivered lower underlying first-quarter results compared with a year earlier. EBITDA excluding special items was down 12% driven by lower fertilizer prices and deliveries, but partly offset by positive currency effects and lower energy cost. "Yara reports strong results in a challenging market environment, even as weaker fertilizer prices and lower deliveries impacted earnings," said Svein Tore Holsether, President and Chief Executive Officer of Yara. "Our operational performance improved compared with the fourth quarter…
Top Deck Rejig at Yara
Yara International ASA announces organizational and management changes, to improve strategic focus and execution. "After spending recent months visiting numerous Yara sites, meeting employees and conducting business and organizational reviews, I have concluded on the key organizational changes needed to strengthen operational focus and improve alignment behind our strategic direction," said Svein Tore Holsether, President and Chief Executive Officer of Yara. "It is clear to me that Yara's employees are dedicated and work hard every day to deliver value to our customers…
Yara Reports Strong 1Q Results
Yara International ASA delivered strong first-quarter results, with higher deliveries and improved margins reflecting lower gas costs and a stronger US dollar. The Lifeco write-down had a negative net income impact of NOK 929 million. "Yara reports strong first-quarter results with higher deliveries and improved margins, reflecting continued lower natural gas cost and a stronger US dollar," said Torgeir Kvidal, Acting President and Chief Executive Officer of Yara. "Ammonia and finished fertilizer production increased significantly in the quarter…
Knutsen is Head of Yara Downstream
Yara International ASA has appointed Terje Knutsen as Head of Downstream. He succeeds Egil Hogna, who has submitted his resignation. Knutsen will assume his new position on 1 May 2015. Yara's Downstream business unit manages the company's global sales, marketing and distribution of fertilizers. Terje Knutsen currently heads Yara's business unit for Downstream activities in North & East Europe. Prior to this, he was Head of Business Unit Asia. Aged 52, Knutsen holds a Master's degree in economics and business administration from the Norwegian School of Economics (NHH).
Yara Reports Strong 3Q Results
Yara International ASA delivered strong third-quarter results, with record fertilizer deliveries and continued margin benefit from lower European gas price. "Yara reports a strong third-quarter result with record deliveries, reflecting both organic growth and the Bunge acquisition in Brazil," said Torgeir Kvidal, Acting Chief Executive Officer of Yara. "Our European production plants performed well, with both higher production and improved margins as natural gas cost has declined," said Torgeir Kvidal.
Yara Completes Acquisition of OFD Holding
Holding Inc. (OFD) allowing the integration process to start. The OFD operations comprise production facilities in Cartagena, Colombia and distribution companies across Latin America. Regulatory approvals have been obtained in almost all jurisdictions, including commitments which are not expected to materially impact the profitability of the acquisition. "We welcome the approvals from regulatory authorities which now allow us to close the acquisition and start the integration process.
Yara 2Q Results Report Improved Margins
Yara International ASA delivered strong second-quarter results, with improved European commodity margins due to lower gas price. The results were impacted by lower nitrate deliveries, but NPK deliveries and value-added premiums remained strong. "Yara reports a strong second-quarter result as margin improvements more than offset the volume impact of an earlier end to the season in Europe," said Jørgen Ole Haslestad, President and Chief Executive Officer in Yara. "Our NPK business continues to perform well…
