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Yara reveals strong Q1 results and cash flow

Yara International ASA, a specialist in agricultural products and environmental protection agents, has reported strong Q1 2013 results and cash flow, with stable margins

New ammonia and urea volumes from Qafco, Lifeco and Yara Pilbara has caused more than a three per cent decline in Yara fertiliser deliveries, while Yara’s NPK plants delivered a record production performance, the company stated.

The Norwegian-based chemicals firm reported a first-quarter net income after non-controlling interests of US$381.9mn, compared with US$509.6mn the previous year.

“Yara reports a strong first quarter with stable margins and sales volumes,” said Jørgen Ole Haslestad, president and chief executive officer in Yara.

“Our production increased due to the Qafco expansions, the Lifeco re-start, and a record production performance in Yara's NPK plants in the first quarter,” he added.

Urea sales rose by four per cent, mainly representing higher sales of Qafco urea in North America and Brazil.

NPK sales went up by two per cent, with deliveries of Yara-produced compound NPK up four per cent.

The company produces fertiliser in Libya and has sales offices in South Africa, Cameroon, Côte d'Ivoire, Egypt, Ghana, Kenya and Tanzania.