Oslo—Yara International ASA reported fourth-quarter net income after non-controlling interests of negative NOK333 million (NOK1.22 per share), compared with a positive NOK434 million (NOK1.58 per share) a year earlier. Revenues and other income totaled NOK22,327 million for the quarter, down from NOK25,722 million.
“Yara reports a weaker result than a year earlier, reflecting lower fertilizer prices as the global nitrogen price floor was tested during the quarter,” said President and CEO Svein Tore Holsether. “But our operational performance improved significantly, with fertilizer sales and production up 15 percent and 11 percent, respectively.”
Total deliveries for the quarter were 9.14 million mt, up from the year-ago 8.35 million mt. Fertilizer deliveries were 6.86 million mt, up from 6.15 million mt, while industrial were 1.77 million mt, up from 1.76 million mt, and ammonia at 507,000 mt, up from 450,000 mt. Full-year net income was NOK6,360 million on revenues of NOK97,170 million, down from 2015’s NOK8,083 million and NOK111,897 million, respectively.
Full-year deliveries were 36.2 million mt, up from 2015’s 35.7 million mt. Fertilizer deliveries were 27.2 million mt, up from 26.5 million mt. Industrial deliveries were down at 6.9 million mt from 7 million mt, while ammonia deliveries were off slightly at 2.04 million mt from 2.1 million mt. The Yara board is recommending a dividend of NOK10 per share for 2016, down from 2015’s NOK15.