GlobeNewswire by notified

Yara reports improved second-quarter results

Share

Oslo, 19July2022:Yara delivers improved returns with higher prices and a strong performance from overseas assets,more than offsetting higher European feedstock costs and lower deliveries. Second-quarter operating income1 was USD 1,223 million compared with USD 477 million a year earlier.

“Yara’s business model remains resilient, and I would like to thank the whole Yara organization for another strong effort in a volatile market”, said Svein Tore Holsether, President and Chief Executive Officer of Yara. “However, there is a clear risk of nitrogen shortages and further price spikes if the gas situation in Europe deteriorates further", said Holsether.

Second-quarter EBITDA excl. special items1 was USD 1,475 million, compared with USD 775 million a year earlier. Net income attributable to shareholders of the parent was USD 664 million (USD 2.61 per share) compared with USD 539 million (USD 2.10 per share) a year earlier.

Yara’s market environment is supportive, with continuity in food production and related value chains remaining a top priority globally. However, seasonally lower Northern hemisphere demand combined with the recent European gas price surge is leading to significant curtailments in Europe, including Yara. Yara has currently curtailed several of its production plants, currently amounting to an annual capacity of 1.3 million tonnes of ammonia and 1.7 million tonnes of finished fertilizer.

Today Yara also publishes its first Green Financing Framework, underlining its commitment to sustainability as an integral part of its strategy. Eligible green projects are expected to create substantial environmental benefits by decarbonizing the food chain, including fertilizer production and application, and by limiting the need to expand farmland. CICERO has provided a second-party opinion and rated the framework medium green. Link to framework: https://www.yara.com/investor-relations/share-and-debt-information/debt-financing/

Yara’s resilient business model continues to generate robust returns, leading to strong dividend capacity going forward in line with Yara’s capital allocation policy. The company paid dividends of USD 796 million in 2Q, and the Board will consider further cash returns in connection with 3Q results.

Link to report, presentation and webcast 19 July at 12:00 CEST:
https://www.yara.com/investor-relations/latest-quarterly-report/

1) For definition and reconciliation of Alternative Performance Measures, see APM section in 2Q report, page 34-40

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 34-40.


Contact:

Silje Nygaard
Investor contact
Mobile: +47 957 04 843
E-mail: silje.nygaard@yara.com

Kristin Nordal
Media contact
Mobile: +47 900 15 550
E-mail: kristin.nordal@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 nature 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 sustainYara reports improved second-quarter resultsability 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 2021, Yara reported revenues of USD 16.6 billion.

www.yara.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Attachments

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Scandinavian Tobacco Group A/S: Transactions in connection with share buy-back programme8.8.2022 11:45:00 CEST | Press release

Company Announcement No. 49/2022 Copenhagen, 8 Aug 2022 Transactions in connection with share buy-back programme On 19 May 2022, Scandinavian Tobacco Group A/S announced that the share buy-back programme that was initiated 9 March 2022 was increased to an aggregated value of up to DKK 1,000 million. The purpose of the programme is to adjust the Company’s capital structure and meet obligations relating to the Group’s share-based incentive programme. Part of the buy-back programme is executed in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (the “Market Abuse Regulation”) and Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules. Another part of the share buy-back programme is conducted as a directed buy-back from Chr. Augustinus Fabrikker Aktieselskab and C.W. Obel A/S as further described in company announcement no. 35/2022. The share buy-back programme will end no later than 28 February 2023. The fo

Maha Energy AB enters into a Farmout Agreement with Mafraq Energy LLC for Block 70 in Oman8.8.2022 11:00:00 CEST | Press release

Maha Energy AB (publ) (“Maha” or the “Company”), through its wholly owned subsidiary Maha Energy (Oman) Ltd., has entered into an Agreement with Mafraq Energy LLC for Maha to reduce the Participating Interest in the Block 70 Exploration and Production Sharing Agreement (“EPSA”) in Oman from 100% to 65%. Maha will continue to be the Operator of the Block. The Agreement is subject to Government approval in Oman. Maha has decided to reduce its working interest in the onshore oil-bearing Block 70 in Oman by bringing in a strategic Omani partner. The Agreement requires Mafraq Energy LLC to reimburse Maha for their prorated share of all past costs including the signature bonus. Mafraq Energy LLC will also be required to pay their share of all future expenditures on Block 70. Jonas Lindvall, Maha’s CEO said: “We are delighted to have Mafraq Energy LLC join us on Block 70. Mafraq Energy LLC brings extensive experience of the Mafraq field and the surrounding areas in Oman. The fact that Mafraq

Maha Energy AB ingår utfarmningsavtal med Mafraq Energy LLC för Block 70 i Oman8.8.2022 11:00:00 CEST | Pressemelding

Maha Energy AB (publ) (”Maha” eller ”Bolaget”), genom sitt helägda dotterbolag Maha Energy (Oman) Ltd., har tecknat avtal med Mafraq Energy LLC för att Maha ska minska intresseandelen i prospekterings- och produktionsdelningsavtalet (EPSA) för Block 70 i Oman från 100 till 65 procent. Maha kommer att fortsätta att vara operatör för blocket. Avtalet kräver sedvanligt godkännande från myndigheterna i Oman. Maha har beslutat att reducera sin intresseandel i oljeförande Block 70 i Oman genom att ta in en strategisk partner från Oman. Avtalet innebär att Mafraq Energy ersätter Maha för deras proportionella andel av alla tidigare kostnader inklusive deras andel av signaturbonusen. Mafraq Energy kommer också att behöva betala sin del av alla framtida utgifter för blocket. ”Vi är glada över att ha Mafraq Energy med oss på Block 70. Mafraq Energy tillför värdeful erfarenhet och kunskap om Mafraqfältet och närliggande oljefält i Oman. Det faktum att Mafraq Energy ansluter sig till oss är kanske