Coffee beans
  • Torgeir Kvidal - Yara
  • Torgeir Kvidal - Yara

    Torgeir Kvidal

    President and CEO of Yara (acting)


    Kvidal has served as President and Chief Executive Officer since October 2014. During his nearly 25 years of tenure with Yara and Hydro, he has held several key positions within the company. Kvidal assumed his current role after serving as Chief Financial Officer from 2012 to 2014.

  • Solid finacial results - Yara

    Solid financial results

    Yara delivered sustained earnings in 2014.


    Our after-tax measure for return on capital (CROGI) ended at 13.3% for 2014. This was above our target of a minimum 10% average over the business cycle, and an improvement from 12.6% in 2013.

  • Increased deliveries  - Yara

    Increased deliveries

    Yara improved sales, reaching record levels in 2014.


    Overall, demand for our fertilizer and industrial products remained strong, with total deliveries of 34.9 million tons. We increased our total fertilizer sales by 11%, to 26.3 million tons. Deliveries of industrial solutions also continued to grow, particularly sales of Air1, which increased by 31% from 2013 to 2014.

  • Improved margins

    Improved margins

    Yara increased net income and earnings per share in 2014.


    More deliveries, lower energy costs in Europe and a stronger US dollar contributed to a net income before controlling interests of NOK 7,625 million. This is an increase of more than 30% from 2013. Our earnings per share were NOK 27.59 in 2014, up from NOK 20.67 in 2013.

  • Solid financial position 2014

    Solid financial position

    Sustained solid financial position matches growth ambitions.


    While growth investments and a buildup in working capital from higher inventories increased our debt/equity ratio from 0.06 in 2013 to 0.17 in 2014, our financial position remains strong. It serves as a solid foundation for exploring further growth opportunities.

  • Safety top priority

    Safety a top priority

    Systematic safety efforts are paying off.


    Our Total Recordable Injury (TRI) rate dropped from 4.3 in 2013 to 3.9 in 2014 for employees and contractors combined, indicating promising results from the Safe by Choice initiative launched in 2013. We have seen our safety performance improve significantly over the past two decades, and safety remains a top priority.

  • Delivering on strategy

    2014: Delivering on strategy

    In 2014 we continued to execute our strategy of sustainable profitable growth.


    We executed major acquisitions in Latin America and announced several investments to increase capacity at our European production sites. At the other end of the value chain, we acquired three technology companies, becoming a leading total solutions provider for cleansing harmful emissions to air.

  • Growing in Latin America

    Growing in Latin America

    In 2014 we expanded our footprint in this growth region through new acquisitions.


    We acquired a majority stake in the independent Brazilian mining and fertilizer company Galvani Indústria, Comércio e Serviços S/A to secure phosphate fertilizer capacity in the northeast of the country. We also started the integration process of OFD Holding Inc., which includes assets in several Latin American countries.

  • Expading in Europe

    Expanding in Europe

    In 2014 we announced further investments into several Nordic sites.


    We completed a project adding 300,000 tons of premium product capacity in Porsgrunn, Norway, and announced new investments into this and other sites in the Nordic region in order to expand capacities of TAN, NPK and calcium nitrate. In France, we attained full control of the Le Havre urea plant.

  • Investing in North America

    Investing in North America

    In 2014 we solidified plans to build a world-scale ammonia plant in the USA.


    The new plant, a joint venture with BASF, will be built in Freeport, Texas, with an annual capacity of 750,000 tons of ammonia. It will use hydrogen as raw material, significantly reducing capital expenditures, maintenance and CO2 compared with conventional plants that use natural gas as feedstock.

  • Adding solutions

    Adding solutions

    In 2014 we made exciting investments in our Emissions to Air innovation platform.


    The acquisition of a majority stake in Green Tech Marine added SOx scrubber technology to our portfolio of emission abatement solutions for the maritime sector. We also significantly strengthened the NOx side through acquisitions of Strabag Flue Gas Treatment and H+H Umwelt- und Industrietechnik GmbH.

  • Investing in innovation

    Investing in innovation

    In 2015 we will continue to invest in knowledge and innovation, driving business.


    Yara employs its R&D capacities to develop new and improved solutions, and to support our business-driven innovation platforms. In 2015, we will especially reinforce the roll-out of our Coffee & Cocoa platform, and use our technology investments to improve water use efficiency in agriculture.

  • creating future value

    Creating future value

    In 2015 we will continue to capitalize on our investments, creating value.


    Yara has a unique business model and global market presence – a strong platform for profitable growth. By consistently executing our growth strategy, we reinforce our ability to create value, and to create impact.

    2014: Continued strong growth
    Summary

    Yara continued to execute its strategy of profitable growth, and delivered on its strategic ambition of creating shared value.

    Categories

    An exciting year

    Oslo, March 22, 2015

    2014 was a year of growth, adding new revenue streams to Yara from increased production capacity and market presence as well as expert knowledge on environmental technology. Supported by lower gas prices and a stronger US dollar, Yara’s margins increased through the year.

    Growth initiatives

    We strengthened our global production base both through acquisitions and brownfield expansions. In Europe we completed a project adding 300,000 tons of premium product capacity in Porsgrunn, Norway, and we gained full ownership of a urea plant in Le Havre, France. We announced further investments into several of our Nordic sites.

    “Our employees are the company’s greatest asset. People, products, solutions and application competence give Yara a competitive edge and knowledge margin.”

    Torgeir Kvidal, President and CEO (acting)

    Overseas, Yara started the integration process of OFD Holding, which includes an NPK plant in Colombia and Downstream positions in six Latin American countries. We also announced the construction of a world scale ammonia plant in Texas, USA, in a joint venture with BASF. The plant will use hydrogen as raw material, reducing both capital expenditure and greenhouse gas emissions.

    In Brazil we took a majority position in the phosphate company Galvani, adding upstream capacity to complement our recently expanded downstream footprint. The Bunge integration is ahead of schedule, with realized synergies of USD 55 million, demonstrating how Yara’s global market knowledge enables it to maximize value creation from growth opportunities.

    At the other end of the value chain, we acquired three industrial technology companies, becoming a leading total solution provider for cleansing harmful emissions to air. Yara is well positioned in an attractive market, aiming for environmental solution revenues of NOK 10 billion by 2020.

    Our people

    Our employees are the company’s greatest asset. People, products, solutions and application competence give Yara a competitive edge and knowledge margin.

    Safety is a prerequisite in all of our activities. Systematic work has improved Yara’s safety performance significantly over the past two decades. We report positive results from the efforts to further improve our safety performance. Total Recordable Injuries (TRI) rates dropped from 4.3to 3.9 for employees and contractors combined. However, strong focus on further improvements is needed, also to ensure high standards in growth projects. We believe all accidents are avoidable and our ultimate goal is zero injuries.

    As we delivered on our growth strategy, the number of employees also grew and at the end of 2014 we were a total of 12,073 people in the company. Our workforce comprise more than 60 nationalities and represents a great set of diverse skills and competencies.

    Market drive

    At Yara we bring our expert knowledge to the market with the goal of creating shared value. By optimizing the farmers’ use of crop nutrition, we bring the best value to our shareholders, customers, farmers and society at large.

    As an example, Yara has partnered with Vietnamese authorities, Nestlé and other stakeholders to improve performance for smallholder coffee farmers. On demo farms and field trials, we use our knowledge to show how using less fertilizer, of the right quality, can improve yields and farmers’ income – while reducing their carbon footprint by more than 50%.

    Throughout 2014, Yara has implemented the experiences from Vietnam in a number of major coffee producing markets – strengthening Yara’s position in the coffee segment - an USD 100 billion trade market.

    Going forward

    As dietary changes and a growing population drives demand for food, sustainable development in global agricultural systems is vital: More food must be produced, using fewer resources and with less strain on the environment.

    In 2015 the United Nations will define new Sustainable Development Goals (SDG). During the UN General Assembly 2014, Yara was a co-signer of a private sector Business Manifesto, voicing support for the SDG process.

    Major food companies, the UN Global Compact and the FAO Committee of Food Security are all exploring how to improve sustainability performance in the food value chain. Yara is a signatory to UN Global Compact and a founding member of the Global Alliance on Climate-Smart Agriculture.

    We actively support sustainability and responsible business principles. We leverage our knowledge to lead on crop nutrition, environmental solutions and partnerships – creating profitable growth while nurturing, protecting, and sustaining life. In a world that demands more sustainable solutions for growing food, Yara is very well positioned to provide solutions.

    Torgeir Kvidal 

    President and CEO (acting)


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