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(USD -0.43 per share) a year earlier.
The main elements of the first-quarter results are:
- EBITDA excl. special items(1) was USD 585 million, up from 504 million a
year earlier, as improved pricing more than offset higher natural gas cost
- Continued premium product growth
- USD 2.7 billion free cash flow(2) the last 12 months
- 8.6% ROIC(3), up from 6.9% a year earlier
“Yara delivers its eleventh consecutive quarter with improved capital returns,
with EBITDA excluding special items up 16%, and continued growth in premium
sales. The Yara organization continues to perform well in a demanding
environment,” said Svein Tore Holsether, President and Chief Executive Officer
of Yara.
“Our cash flow also continued to improve, with 2.7 billion US dollars of free
cash flow generated over the last four quarters. We will consider further cash
returns in the coming quarters, in line with Yara’s capital allocation policy,”
said Holsether.
First-quarter operating income was USD 322 million, compared with USD 248
million a year earlier. Earnings per share excluding currency effects and
special items was USD 0.80, compared with USD 0.39 per share in first quarter
2020. EBITDA excluding special items was USD 585 million, compared with USD 504
million a year earlier.
Yara’s industry fundamentals are robust, as the twin challenges of resource
efficiency and environmental footprint require significant transformations
within both agriculture and the hydrogen economy. Yara’s leading food solutions
and ammonia positions are well placed to both address and create business
opportunities from these challenges.
Link to report, presentation and webcast 23 April at 12:00 CEST:
Latest quarterly report | Yara International
- For definition and reconciliation of EBITDA excl. special items, see APM
section in 1Q report page 27
- Net cash provided by operating activities minus net cash used in investment
activities, see cash flow statement in 1Q report page 14
- Return on invested capital, for definition and reconciliation of ROIC see APM
section in 1Q report page 29
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 28-33.
Contact
Thor Giæver, SVP Investor Relations
Mobile: (+47) 480 75 356
E-mail: thor.giaver@yara.com (mailto:thor.giaver@yara.com)
Josiane Kremer, Director External Communications
Mobile: (+47) 481 80 451
E-mail: josiane.kremer@yara.com (mailto: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 and a planet respected, we
pursue a strategy of sustainable value growth, promoting climate-friendly crop
nutrition and zero-emission energy solutions. Yara’s ambition is focused on
growing a climate positive food future that creates value for our customers,
shareholders and society at large and delivers 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 food
production. Through our focus on clean ammonia production, we aim to enable the
hydrogen economy, driving a green transition of shipping, fertilizer production
and other energy intensive industries.
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. We operate
an integrated business model with around 17,000 employees and operations in over
60 countries, with a proven track record of strong returns. In 2020, Yara
reported revenues of USD 11.6 billion.
www.yara.com (http://www.yara.com)
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act
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