Yara reports strong first-quarter results with record deliveries

Oslo (2014-04-30): Yara International ASA delivered strong first-quarter
results, with record deliveries. The results were impacted by lower commodity
nitrogen prices, but premiums for Yara's value-added products remained robust.

"Yara reports a strong first-quarter result reflecting record deliveries," said
Jørgen Ole Haslestad, President and Chief Executive Officer in Yara.

"While global commodity nitrogen markets have been impacted by increased export
supply from China, healthy demand in both Europe and Latin America has supported
value-added premiums and generated a strong Yara performance," said Jørgen Ole
Haslestad.

Yara reports first-quarter net income after non-controlling interests of NOK
1,773 million (NOK 6.40 per share), compared with NOK 2,257 million (NOK 8.04
per share) a year earlier. Excluding net foreign exchange gain and special
items, the result was NOK 7.03 per share compared with NOK 8.52 per share in
first quarter 2013. First-quarter EBITDA excluding special items was NOK 3,830
million compared with NOK 4,149 million a year earlier.

Global Yara fertilizer deliveries were up 21% on first quarter last year, with
strong demand for most products in all markets in addition to the effect of the
acquisition of Bunge. Excluding volumes to Brazil, global Yara fertilizer
deliveries were up 11% compared with first quarter 2013. Global Yara nitrate
deliveries were up 8%, while compound NPK deliveries increased 14%.

Yara's average realized urea prices were 13% lower than a year ago. Realized
nitrate and NPK compound prices decreased by 12% and 10% respectively, keeping
premiums over urea and other commodity fertilizers stable overall, while NPK
blend margins in Brazil were higher than last year.

Although an early spring pulled ahead some demand from second to first quarter,
strong farm margins and tight supply in particular for nitrates indicate a
positive European nitrogen market situation also for the second quarter. Yara
has a strong European order book for the remainder of the season, and is also
positively impacted by lower European gas prices. Based on current forward
markets for oil products and natural gas (22 April) Yara's European second and
third quarter energy costs are expected to be approximately NOK 1 billion lower
in total compared with a year earlier.

Link to report and presentation:
http://www.yara.com/investor_relations/quarterly_report/index.aspx

Link to webcast 30 April at 09:30 CEST:
http://www.yara.com/investor_relations/financial_webcasts/index.aspx


Contact

Thor Giæver, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 48 07 53 56
E-mail thor.giaver@yara.com

Esben Tuman, Media Relations
Cellular (+47) 90 50 84 00
E-mail esben.tuman@yara.com

Yara delivers solutions for sustainable agriculture and the environment. Our
fertilizers and crop nutrition programs help produce the food required for the
growing world population. Our industrial products and solutions reduce
emissions, improve air quality and support safe and efficient operations.
Founded in Norway in 1905, Yara has a worldwide presence with sales to 150
countries. Safety is always our top priority.
www.yara.com

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


1Q 2014 Report:
http://hugin.info/134793/R/1781113/609343.pdf

1Q 2014 Presentation:
http://hugin.info/134793/R/1781113/609420.pdf



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Source: Yara International ASA via GlobeNewswire
[HUG#1781113]