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Yara International ASA (0O7D.L)

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13,080,999,936.00+32.30 (+0.00%)
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  • Globe Newswire

    Yara delivers improved returns, proposes additional dividend

    Oslo, 20 October 2020: Yara delivers improved third-quarter results, with record NPK deliveries, improved capital returns and increased cash flow. Net income was USD 340 million (USD 1.27 per share) compared with USD 74 million (USD 0.27 per share) a year earlier. The main elements of the third-quarter results are: NOK 18 per share additional dividend proposed; total NOK 53 per share cash returns1 paid or committed to shareholders in 20207.9% ROIC2, up from 6.1% a year earlierEBITDA3 down 11%, mainly reflecting lower nitrogen pricesRecord NPK deliveriesUSD 2.5 billion free cashflow4 rolling 4 quarters “Yara delivers its ninth consecutive quarter with improved capital returns, despite our results being impacted by lower nitrogen prices. Our crop nutrition focused business model continues to perform strongly, delivering record NPK volumes in the quarter. I would like to give credit to the entire Yara organisation for another solid effort in a demanding environment,” said Svein Tore Holsether, President and Chief Executive Officer of Yara. “Our cash flow also continued to improve, with 2.5 billion US dollars of free cash flow generated over the last four quarters. We will propose a NOK 18 per share additional dividend for payment in the fourth quarter, bringing our total cash paid or committed to shareholders in 2020 to NOK 53 per share,” said Holsether. Third-quarter operating income was USD 384 million, up from USD 314 million a year earlier. Net income excluding currency effects and special items was USD 0.88 per share, compared with USD 0.94 per share in third quarter 2019. EBITDA excluding special items was USD 558 million, down from USD 630 million a year earlier. Yara’s market environment is in a positive trend overall, with a broadly stable global grain balance and limited urea supply pressure. Fertiliser and food demand is resilient also in times of crisis, and ensuring continuity in food production and related value chains remains a top priority for all countries. Yara’s financial situation is robust, with strong cash flow from operations and declining capital expenditure due to strong capital discipline. Link to report, presentation and webcast 20 October at 12:00 CEST: https://www.yara.com/investor-relations/latest-quarterly-report/ 1) Including share buy-backs in 1Q20 plus ongoing buy-backs to be completed in 1Q21 (assuming an average share price of 350 NOK) and the proportional redemption of shares owned by the Norwegian state relating to these buy-backs2) L12M ROIC3) EBITDA excluding special items4) Net cash provided by operating activities minus net cash used in investing activities (see cash flow statement page 20 in Yara’s third-quarter report 2020) 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 35-40. Contact Thor Giæver, SVP Investor Relations Mobile: (+47) 480 75 356 E-mail: thor.giaver@yara.com Josiane Kremer, Director External Communications Mobile: (+47) 481 80 451 E-mail: josiane.kremer@yara.com About Yara Yara grows knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger, we pursue a strategy of sustainable value growth, promoting climate-friendly and high-yielding crop nutrition solutions for the world’s farming community and food industry. Yara’s ambition is to be the Crop Nutrition Company for the Future. We are committed to creating value for our customers, shareholders and society at large, as we work to develop 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 agriculture and food production. 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. With our integrated business model and a worldwide presence of around 16,000 employees and operations in over 60 countries, we offer a proven track record of responsible and reliable returns. In 2019, Yara reported revenues of USD 12.9 billion. www.yara.com This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachments Yara 3Q 2020 Report Yara 3Q 2020 Presentation

  • Globe Newswire

    Reminder: Program for the publication of Yara International ASA third quarter results 2020

    The Yara International ASA third quarter 2020 report and presentation will be published on Tuesday 20 October 2020 at 08:00 CEST. An on-line presentation and Q&A session will be held at 12:00 CEST, hosted by Yara President and CEO Svein Tore Holsether. The presentation will be held in English. The report, presentation and webcast will be available at the above mentioned times at: yara.com/investor-relations/latest-quarterly-report/ Yours faithfully for Yara International ASA Thor Giæver Head of Investor Relations About Yara Yara grows knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger, we pursue a strategy of sustainable value growth, promoting climate-friendly and high-yielding crop nutrition solutions for the world’s farming community and food industry. Yara’s ambition is to be the Crop Nutrition Company for the Future. We are committed to creating value for our customers, shareholders and society at large, as we work to develop 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 agriculture and food production. 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. With our integrated business model and a worldwide presence of around 16,000 employees and operations in over 60 countries, we offer a proven track record of responsible and reliable returns. In 2019, Yara reported revenues of USD 12.9 billion. www.yara.com This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

  • Ørsted and Yara seek to develop groundbreaking green ammonia project in the Netherlands
    Globe Newswire

    Ørsted and Yara seek to develop groundbreaking green ammonia project in the Netherlands

    2020-10-05 Wind farm Netherlands Wind farm Netherlands Oslo, 5 October 2020: Ørsted, the world’s leading offshore wind developer, and Yara, the world’s leading fertilizer company, have joined forces in developing a pioneering project aiming at replacing fossil hydrogen with renewable hydrogen in the production of ammonia with the potential to abate more than 100,000 tonnes of CO2 per year, equivalent to taking 50,000 conventional cars off the road. If the required public co-funding is secured and the right regulatory framework is in place, the project could be operational in 2024/2025. Yara and Ørsted share the vision of creating a sustainable future through being first movers and have joined forces to develop a 100 MW wind powered electrolyser plant for renewable hydrogen production, aiming to replace fossil-based hydrogen with renewable hydrogen for ammonia production in Yara’s Sluiskil plant, located in the Dutch province of Zeeland. The renewable hydrogen would generate around 75,000 tons of green ammonia per year – approx. 10% of the capacity of one of the ammonia plants in Sluiskil – based on dedicated renewable energy supply from Ørsted’s offshore wind farms. Ørsted is about to inaugurate its Borssele 1&2 offshore wind farm, the second biggest in the world, located off the coast of Zeeland close to the Sluiskil plant. The green ammonia is intended to be used in the production of carbon neutral fertilizer products, decarbonizing the food value chain, and also has potential as a future climate neutral shipping fuel. Hydrogen produced from renewable energy sources offers a carbon-free alternative to fossil-based hydrogen, but currently comes at a significantly higher cost. Closing this cost gap takes time and will depend on public support to supplement private investments in large-scale renewable hydrogen and ammonia production. Ørsted and Yara will therefore now seek public co-funding for the development and construction of the 100MW electrolyser facility to support the project. Subject to sufficient co-funding and a confirmed business case, a final investment decision to build the new plant could be taken late 2021 or early 2022. “Ørsted is committed to investing in renewable hydrogen production at scale, and with the right support in place this joint flagship project between Yara and Ørsted will not only lead to a significant reduction of CO2 emissions, but also help mature the technology for the wider decarbonisation of European industry”, says Martin Neubert, Executive Vice President and CEO of Ørsted Offshore. “Green ammonia can be essential to enable sustainable food production, in addition it is emerging as the most promising carbon neutral energy carrier for several energy applications, such as decarbonized shipping fuel. Teaming up with Ørsted in this project in the Netherlands represents a major step forward in enabling Yara to deliver on its strategic ambitions”, says Terje Knutsen, Executive Vice President and head of Farming Solutions in Yara. With its abundant offshore wind resources and large hydrogen consumption centres in coastal areas, the Netherlands are well-positioned to lead the way in the green transformation of heavy industry powered by offshore wind, while securing the competitiveness of key industrial sectors and creating economic activity and jobs. This project can be a milestone on the hydrogen roadmap of the Smart Delta Resources cluster in Zeeland, and an important step in the scaling of renewable hydrogen in the Netherlands towards 3-4 GW by 2030. For further information, please contact: Ørsted Group Media RelationsMichael Korsgaard+45 99 55 94 25mikon@orsted.dk Ørsted Media Relations NetherlandsStefan de Bruijn+31 6 15 18 62 00xsdeb@orsted.nl Yara Media RelationsKristin Nordal+47 900 15 550kristin.nordal@yara.com Yara Media Relations NetherlandsGijsbrecht Gunter++31 (0)6 83 525 990gijsbrecht.gunter@yara.com About ØrstedØrsted’s vision is to create a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. Ørsted ranks #1 in Corporate Knights’ 2020 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 6,000 people. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2019, the company generated revenue of DKK 67.8 billion (EUR 9.1 billion). For more information on Ørsted, visit orsted.com. About Yara Yara grows knowledge to responsibly feed the world and protect the planet, to fulfill our vision of a collaborative society, a world without hunger and a planet respected. To meet these commitments, we have taken the lead in developing digital farming tools for precision farming and work closely with partners throughout the whole food value chain to develop more climate-friendly crop nutrition solutions. In addition, we are committed to working towards sustainable mineral fertilizer production. We foster an open culture of diversity and inclusion that promotes the safety and integrity of our employees, contractors, business partners, and society at large. Founded in 1905 to solve the emerging famine in Europe, Yara has a worldwide presence with about 17,000 employees and operations in over 60 countries. In 2019, Yara reported revenues of USD 12.9 billion. www.yara.com Attachment 2020-10-05 Wind farm Netherlands