About Yara

2008: Yara posts strongest quarter ever

Yara reported its strongest quarterly result ever for the three-month period ending May 31, 2008.

Yara’s stellar performance in the second quarter was driven mainly by strong demand and expanding urea, nitrate and NPK margins, which were only partly offset by increased raw material costs.

All segments of the company made solid contributions to the results: Downstream segment increased sales 16 percent from the second quarter in 2007; the Industrial segment showed strong growth in most product groups; Upstream segment maintained production levels and was boosted by the new phosphoric acid business.

Commenting on the announcement, Yara CEO Thorleif Enger emphasized that since its IPO in March 2004, “Yara has delivered 18 consecutive quarters with earnings above cost of capital.”

Yara reported net income after minority interest of NOK 4,415 million (NOK 15.14 per share), compared with NOK 1,422 million (NOK 4.85 per share) in 2007. Operating income was NOK 4,749 million compared to NOK 1,329 million in the same quarter of 2007. EBITDA for the quarter amounted to NOK 6,300 million compared with a 2007 figure of NOK 2,222 million.

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