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During 2009, the demand for fertilizers started to rebound. After a transitional year with declining results due to low prices and margins in a depressed market, Yara is well-positioned to deliver on its growth ambitions in 2010 and beyond. Strategic initiatives will increase production volumes and market shares.
Yara’s 2009 results declined compared to the previous year, following unprecedented market developments related to the financial turmoil affecting the global economy in 2008. Several steps were taken to mitigate the market slow-down, and new growth initiatives were taken.
Yara experienced a transition year in 2009. An escalation of financial turmoil during Q3 2008 brought positive market development to a halt, leading to an unprecedented decline in fertilizer deliveries and prices, before the market picked up somewhat in 2009.
Yara has established methods and procedures to analyze and evaluate risk exposure at corporate level. Risk evaluations are integrated in all business activities, with a geographically diversified portfolio reducing overall credit and currency risk.
Yara has incorporated global corporate citizenship into is strategic direction, directing the pursuit of business opportunities while recognizing the impact global megatrends have on its business environment, and addressing major global challenges.
Yara’s Board of Directors consists of five shareholder-elected members and three employee-elected members, with one replacement made amongst the latter in 2009. Several changes were made in the Executive Management team.
Yara practices a proactive and transparent corporate governance, with a clearly-described governance structure. The Board of Directors has decided to follow a code of practice for corporate governance with requirements that are stricter than required by law.
Yara International ASA is the parent company, and primarily a holding company, with financial activities and only non-material operations. The parent company had a net income of NOK 2,180 million in 2009.
Yara’s dividend policy is to pay out a minimum 30 percent of net income as an average over the business cycle, proposing a dividend of NOK 4.50 per share for 2009. Yara will use share buy-backs when certain conditions are met.
Yara’s Board of Directors considers the long-term fundamentals for fertilizer demand to be strong. Demand has picked up from the 2008/2009 season, and major food crop prices remain at historically high levels, and continued growth in demand is expected.
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Financial_Report 2009(PDF, 8.6MB)
Finansrapport_2009(PDF, 8.3MB)
Citizenship Report 2009(PDF, 9.7MB)
Report of the Board of Directors(PDF, 980KB)
Financial Statements(PDF, 5.5MB)
Corporate Governance(PDF, 409KB)
Historical data(XLS, 160KB)
