Investor Relations

Quarterly Report 2Q 2014

Second quarter 2014 financial highlights
Millions, except where indicated otherwise 2Q 2014 2Q 2013
Revenue and other income NOK 23,309 23,209
Operating Income NOK 2,849 2,651
Share net income equity-accounted investees NOK 171 417
EBITDA NOK 4,227 4,039
EBITDA excl. special items NOK 4,185 4,103
Net income after non-controlling interest NOK 2,285 1,867
Earnings per share 1) NOK 8.26 6.69
Earnings per share excl. currency and special items 1) NOK 7.74 7.97
Average number of shares outstanding (millions) NOK 276.5 279.3
CROGI (12-month rolling average) 11.6% 15.8%
ROCE (12-month rolling average) 11.0% 17.5%
Production (Kt) 2)      
Ammonia kt 1,774 1,823
 of which equity accounted investees kt 306 374
Urea kt 1,205 1,261
 of which equity accounted investees kt 328 434
Nitrate kt 1,465 1,513
 of which equity accounted investees kt 74 66
NPK 3) kt 1,117 989
 of which equity accounted investees kt 62 54
CN kt 312 275
UAN kt 227 268
SSP - based fertilizer 4) kt 202 154
Total production kt 6,303 6,283
       
Sales volumes (Kt)
Ammonia kt 827 790
 of which industrial products 5) kt 167 166
Urea kt 1,758 1,971
 of which fertilizer kt 1,331 1,672
 of which Yara-produced fertilizer kt 544 536
 of which Yara-produced Industrial products 6) kt 328 265
 of which equity-accounted investees kt 647 1,019
Nitrate kt 1,304 1,775
 of which fertilizer kt 1,119 1,551
 of which Yara-produced fertilizer kt 1,040 1,459
 of which Yara-produced Industrial products kt 147 185
NPK kt 2,475 1,818
 of which Yara-produced compounds kt 1,022 1,133
 of which Yara-produced blends kt 1,360 600
CN kt 377 384
 of which fertilizer kt 295 314
 of which Yara-produced fertilizer  kt 287 310
 of which Yara-produced Industrial products kt 75 65
UAN kt 407 469
 of which Yara-produced fertilizer  kt  342 409
DAP/MAP kt 186 90
MOP/SOP  kt 313 144
Other products kt 1,133 1,041
 of which industrial products 7) kt 803 811
Total sales 7) kt 8,778 8,482
       
Price
Realized European nitrate price 8) USD/t    339
       
Energy cost 2)    
USD per MMBtu
Oil & gas cost (weighted average) USD per MMBtu 6.9 8.5
Oil & gas cost Europe (weighted average) USD per MMBtu 9.2 11.9
1) Yara currently has no share-based compensation program that results in a dilutive effect on earnings per share
2) Including Yara share of production in equity-accounted investees. Tringen is from 2014 classifies as "Joint operations" in line with IFRS 11, and is not any longer included as equity-accounted investee. 2013 has been restated accordingly
3) Excluding NPK blends
4) Primarily an intermediate product used to make NPK blends
5) 82% ammonia equivalents
6) 46% urea equivalents      
7) Including feed phosphates and CO2 sales volumes as from 2014 reporting. 2013 has been restated accordingly.
8) Per ton of CAN equivalents