Safety performance improved in 2013, with a Total Recordable Injury (TRI) rate per million hours worked of 4.3, down from 5.0 in 2012. However, despite its efforts to improve safety, Yara suffered a fatal accident during 2013, underlining the need for further efforts going forward.
Fertilizer deliveries were 14% higher than in 2012, with increased sales in all main product groups. The majority is explained by the acquisition of Bunge’s fertilizer business in Brazil effective 8 August 2013. Excluding the Bunge volumes, global fertilizer deliveries increased by 5% compared with 2012. Industrial product deliveries were up 5% compared with 2012, with the strongest growth delivered by Air1 NOx abatement products for automotive use, with a 30% increase.
Yara’s ammonia production increased 5% compared with 2012, mainly due to the partial return of production in Libya, expanded Qafco volumes in Qatar and higher production in Pilbara, Australia. Finished fertilizer production increased by 6%, supported by high regularity in wholly-owned plants.
Yara’s average realized urea prices were 17% lower than in 2012, while realized nitrate prices were 6% lower than in 2012, resulting in higher premiums over urea. NPK compound prices saw a decrease of 4%, as also NPK blend premiums improved. Industrial margins increased compared with 2012.
The Downstream segment delivered a 14% increase in fertilizer sales volumes, higher nitrate and NPK premiums, and an improved safety performance with a 14% TRI reduction.
The Industrial segment delivered a 5% increase in sales volumes with higher margins. Three TRIs were incurred in 2013, representing an increase compared to only one TRI in 2012.
The Upstream segment delivered a 5% increase in ammonia production, a 6% increase in finished fertilizer production and an improved safety performance with a 9% TRI reduction.