Yara delivered its best results so far, with strong earnings
Consistently implementing the growth strategy, achieving strong earnings in all three operating segments
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Yara delivered its best results so far in 2008, with strong earnings in all operating segments. Discussing Yara’s performance, the executive management points at a consistent strategy implementation and the uniquely flexible business model, positioning the company to handle volatility and meet future demand.
Yara has established ten long-term goals for value creation, underlining its growth ambition, while creating value for stakeholders. By pursuing its strategy throughout 2008 consistently, Yara has delivered on its goals.
Like other parts of the industry, Yara’s operation was affected by the market turmoil at the end of 2008, experiencing a sharp drop in demand, which resulted in major sales reductions in the 4th quarter.
Yara delivered strong earnings in all three operating segments – Downstream, Industrial, and Upstream – in 2008. Downstream reported its best financial results so far, albeit lower volumes, whereas Industrial and Upstream both reported increased volumes in 2008 compared with 2007.
The long-term fundamentals for fertilizer demand remain strong. Despite a record harvest last season following favorable weather globally and increased fertilizer application as the fertilizer industry was running full blast, grain inventories remain at historically low levels.
Yara aims to be an attractive investment for shareholders, and to provide competitive returns compared with other investment alternatives.
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Yara delivered its best results so far in 2008, and is positioned to take advantages of new business opportunities in 2009 – staying loyal to its strategy for long-term value creation. These are the key Annual Report messages of the President and CEO, Jørgen Ole Haslestad.
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