Yara Income Up for 4Q, Lags for Year
Yara International ASA delivered improved fourth-quarter results compared with a year earlier. Net income after non-controlling interests was NOK 846 million (NOK 3.10 per share) on revenues of NOK 23,937 million, compared with a year-ago net loss of NOK 333 million (NOK 1.22 per share) on NOK 22,327 million. However, for the full-year, income was down at NOK 3,948 million (NOK 14.45 per share) on revenues of 93,812 million from 2016’s NOK 6,360 million (NOK 23.25 per share) and NOK 97,170 million.
“Yara reports improved results with higher production, and the Yara Improvement Program ahead of schedule,” said Svein Tore Holsether, Yara president and CEO. “Our financial results are better, mainly due to higher market prices. However, fertilizer markets remain fundamentally supply-driven, and we remain focused on strengthening our own operations.”
Fourth-quarter fertilizer deliveries were 3 percent lower compared to a year earlier, driven by lower deliveries in North America, Brazil and Europe. Industrial deliveries were 3 percent higher than a year ago, reflecting continued growth for AdBlue.