2009 was an extraordinary year for the industry, and for Yara. The global recession made its impact on the global fertilizer market, with the significant decline in demand for fertilizer strongly affecting Yara’s operations.
In 2009, Yaras’ revenues and other income was NOK 61.4 billion, down from NOK 88.8 billion in 2008. Net income after non-controlling interests declined by 54 percent from 2008, to NOK 3,782 million in 2009. The full-year results mainly reflect lower prices and margins for the company’s products.
Also, Yara’s fertilizer deliveries declined two percent on a global basis; up eight percent outside Europe, but down eleven percent in Europe, which is Yara’s biggest market. Europe accounted for roughly 50 percent of the company’s fertilizer sales in 2009, followed by Latin America (17 percent), North America (13 percent), Asia (12 percent) and Africa (8 percent).
Despite the challenging market conditions, Yara’s Industrial segment experienced a four percent decline in sales volumes, but delivered strong results from higher margins.
Yara has a defined set of sponsoring guidelines, for all levels of the organization. First and foremost, the company supports activities and organization with the common ambition of contributing to solutions for major global challenges related to energy, climate, food and health. In line with this, Yara has developed its Africa Program. Yara also partners with leading NGOs and supports R&D projects that target environmental improvements, such as the TraP project for reduced leaching of nutrients into the Baltic Sea (see page 16). Additionally, Yara’s operations worldwide are engaged in and support a wide variety of community projects and local initiatives for the benefit of the public.