Quarterly Report 3Q 2011

Third quarter 2011 financial highlights
Millions, except where indicated otherwise		3Q 2011	3Q 2010

Revenue and other income	NOK	21,181	16,533
Operating Income	NOK	4,398	1,402
Share net income equity-accounted investees	NOK	329	413
EBITDA	NOK	5,444	2,486
EBITDA excl. special items	NOK	4,211	2,536
Net Income after non-controlling interest	NOK	3,566	1,927
Earnings per share ¹⁾	NOK	12,42	6.68
Earnings per share excl. currency and special items	NOK	9,13	5.00
Average number of shares outstanding (millions)	NOK	287.2	288.7
CROGI (12-month rolling average)		18.6%	17.4%
ROCE (12-month rolling average)		22.7%	20.7%

EBITDA segments
Downstream	NOK	1,302	966
Industrial	NOK	323	326
Upstream	NOK	4,071	1,194
Other and eliminations	NOK	(252)	1
Yara total	NOK	5,444	2,486

Operating income segments
Downstream	NOK	1,117	779
Industrial	NOK	250	256
Upstream	NOK	3,323	395
Other and eliminations	NOK	(292)	(28)
Yara total	NOK	4,398	1,402

Sales
Nitrate	kt	1,419	1,593
NPK	kt	1,714	1,868
of which own-produced	kt	931	1,018
of which own blends	kt	672	703
Urea	kt	871	1,072
of which own-produced	kt	316	309
of which equity accounted investees	kt	336	510
CN	kt	233	222
UAN	kt	196	217
Other products	kt	400	502
Fertilizer	kt	4,834	5,474

Industrial products (excl. industrial gases)	kt	1,158	1,086
Total sales	kt	5,992	6,560

Realized European nitrate price ²⁾	USD/t		242

Production ³⁾
Ammonia	kt	1,592	1,803
of which equity accounted investees	kt	338	583
Nitrate	kt	1,601	1,584
of which equity accounted investees	kt	135	161
NPK	kt	1,241	1,299
of which equity accounted investees	kt	86	115
CN	kt	289	302
Urea	kt	815	821
of which equity accounted investees	kt	201	274
UAN	kt	314	206
Finished fertilizer and industrial products ⁴⁾	kt	4,258	4,212
Total production	kt	5,850	6,015

Energy cost ³⁾
Oil & gas cost (weighted average)	USD per MMBtu	8.3	5.9
Oil & gas cost Europe (weighted average)	USD per MMBtu	10.9	7.9

1) Yara currently has no share-based compensation program that results in a dilutive effect on earnings per share
2) Per ton of CAN equivalents
3) Including Yara share of production in equity-accounted investees
4) Excluding bulk blends

Quarterly Report 3Q 2011

Yara result 3Q 2011 (PDF)

Yara worldwide

Yara worldwide

Africa

Europe

Latin America

North America

Asia / Oceania

Capital Markets Day 2011