Yara International ASA Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 09, 2024 at 03:20 am EST
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Yara International ASA reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 3,505 million compared to USD 5,437 million a year ago. Revenue was USD 3,582 million compared to USD 5,464 million a year ago. Net income was USD 244 million compared to USD 769 million a year ago. Basic earnings per share from continuing operations was USD 0.96 compared to USD 3.02 a year ago.
For the full year, sales was USD 15,431 million compared to USD 23,902 million a year ago. Revenue was USD 15,547 million compared to USD 24,051 million a year ago. Net income was USD 48 million compared to USD 2,777 million a year ago. Basic earnings per share from continuing operations was USD 0.19 compared to USD 10.9 a year ago.
Yara International ASA is a worldwide leader in producing and selling mineral fertilizers. Net sales break down by activity as follows:
- production and sale of mineral fertilizers (72.8%): 26.4 million tons sold in 2022 of simple nitrogenated fertilizers (calcium nitrates, urea, etc.), complex fertilizers (nitrogen- phosphorous- and potassium- based), specialty fertilizers (plant nutrition products, potassium nitrates, etc.), and magnesium- and sulfur-based fertilizers. Net sales are distributed by geographic area between Europe (32.9%), Americas (48.8%), Africa and Asia (18.3%);
- sale of industrial chemical products (18.5%): 7.4 million tons of nitrogen based chemical products sold (including ammonia, nitric acids, ammonium nitrates) for the automotive, construction, waste treatment, shipping, chemical, mining and animal feed industries;
- production of ammonia (8.1%). The group also develops ammonia trading activity;
- other (0.6%).
At the end of 2022, the group had 26 production sites worldwide.
Net sales are distributed geographically as follows: Europe (35.4%), Brazil (25.6%), Latin America (8%), Asia (12.6%), North America (12.4%) and Africa (6%).