Corporate releases

Yara delivers improved returns with continued premium product growth

April 23, 2021

Oslo, 23 April 2021: Yara reports improved first-quarter results, as improved pricing more than offset the impact of higher energy cost. First-quarter net income was USD 14 million (USD 0.05 per share) compared with USD -119 million (USD -0.43 per share) a year earlier.

The main elements of the first-quarter results are:

  • EBITDA excl. special items1 was USD 585 million, up from 504 million a year earlier, as improved pricing more than offset higher natural gas cost
  • Continued premium product growth
  • USD 2.7 billion free cash flow2 the last 12 months
  • 8.6% ROIC3, up from 6.9% a year earlier

“Yara delivers its eleventh consecutive quarter with improved capital returns, with EBITDA excluding special items up 16%, and continued growth in premium sales. The Yara organization continues to perform well in a demanding environment,” said Svein Tore Holsether, President and Chief Executive Officer of Yara.

"Our cash flow also continued to improve, with 2.7 billion US dollars of free cash flow generated over the last four quarters. We will consider further cash returns in the coming quarters, in line with Yara’s capital allocation policy,” said Holsether.

First-quarter operating income was USD 322 million, compared with USD 248 million a year earlier. Earnings per share excluding currency effects and special items was USD 0.80, compared with USD 0.39 per share in first quarter 2020. EBITDA excluding special items was USD 585 million, compared with USD 504 million a year earlier.

Yara’s industry fundamentals are robust, as the twin challenges of resource efficiency and environmental footprint require significant transformations within both agriculture and the hydrogen economy. Yara’s leading food solutions and ammonia positions are well placed to both address and create business opportunities from these challenges.

Link to report, presentation and webcast 23 April at 12:00 CEST:

1) For definition and reconciliation of EBITDA excl. special items, see APM section in 1Q report page 27
2) Net cash provided by operating activities minus net cash used in investment activities, see cash flow statement in 1Q report page 14
3) Return on invested capital, for definition and reconciliation of ROIC see APM section in 1Q report page 29

Note on Alternative performance measures: Alternative performance measures are
defined, explained and reconciled to the Financial statements in the APM section
of the Quarterly report on pages 28-33.


Thor Giæver, SVP Investor Relations
Mobile: (+47) 480 75 356

Josiane Kremer, Director External Communications
Mobile: (+47) 481 80 451

About Yara

Yara grows knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger and a planet respected, we pursue a strategy of sustainable value growth, promoting climate-friendly crop nutrition and zero-emission energy solutions. Yara’s ambition is focused on growing a climate positive food future that creates value for our customers, shareholders and society at large and delivers a more sustainable food value chain.

To achieve our ambition, we have taken the lead in developing digital farming tools for precision farming, and work closely with partners throughout the food value chain to improve the efficiency and sustainability of food production. Through our focus on clean ammonia production, we aim to enable the hydrogen economy, driving a green transition of shipping, fertilizer production and other energy intensive industries.

Founded in 1905 to solve the emerging famine in Europe, Yara has established a unique position as the industry’s only global crop nutrition company. We operate an integrated business model with around 17,000 employees and operations in over 60 countries, with a proven track record of strong returns. In 2020, Yara reported revenues of USD 11.6 billion.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act