Investor Relations

Quarterly Report 4Q 2014

Fourth quarter 2014 financial highlights
Millions, except where indicated otherwise 4Q 2014 4Q 2013
Revenue and other income NOK 26,230 20,573
Operating Income NOK 2,688 583
Share net income equity-accounted investees NOK 265 (41)
EBITDA NOK 4,625 1,858
EBITDA excl. special items NOK 4,528 2,360
Net income after non-controlling interest NOK 1,860 63
Earnings per share 1) NOK 6.74 0.23
Earnings per share excl. currency and special items 1) NOK 8.17 2.80
Average number of shares outstanding (millions) NOK 275.8 277.2
CROGI (12-month rolling average) 13.3% 12.6%
ROCE (12-month rolling average) 13.3% 12.6%
Production (Kt) 2)      
Ammonia kt 1,792 1,844
 of which equity accounted investees kt 397 360
Urea kt 1,173 1,189
 of which equity accounted investees kt 376 365
Nitrate kt 1,576 1,587
 of which equity accounted investees kt 99 100
NPK 3) kt 1,210 1,241
 of which equity accounted investees kt 40 67
CN kt 297 285
UAN kt 213 276
SSP - based fertilizer 4) kt 217 201
Total production kt 6,477 6,623
       
Sales volumes (Kt)
Ammonia kt 732 705
 of which industrial products 5) kt 206 172
Urea kt 1,849 1,769
 of which fertilizer kt 1,426 1,429
 of which Yara-produced fertilizer kt 482 564
 of which Yara-produced Industrial products 6) kt 306 313
 of which equity-accounted investees kt 626 778
Nitrate kt 1,610 1,566
 of which fertilizer kt 1,464 1,389
 of which Yara-produced fertilizer kt 1,328 1,260
 of which Yara-produced Industrial products kt 129 138
NPK kt 2,408 2,343
 of which Yara-produced compounds kt 1,099 1,089
 of which Yara-produced blends kt 1,208 1,210
CN kt 310 278
 of which fertilizer kt 203 183
 of which Yara-produced fertilizer  kt 197 178
 of which Yara-produced Industrial products kt 97 86
UAN kt 233 247
 of which Yara-produced fertilizer  kt 205 236
DAP/MAP kt 242 103
MOP/SOP  kt 235 189
Other products kt 1,194 1,102
 of which industrial products 7) kt 839 882
Total sales 7) kt 8,813 8,301
       
Price
Realized European nitrate price 8) USD/t    317
       
Energy cost 2)    
USD per MMBtu
Oil & gas cost (weighted average) USD per MMBtu 6.5 7.8
Oil & gas cost Europe (weighted average) USD per MMBtu 8.5 11.2
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