Yara reports strong first-quarter results

Oslo (2010-04-23): Yara International ASA reports strong first-quarter results
as sales volumes and fertilizer margins increased.

Yara reports first-quarter net income after non-controlling interests of NOK
1,522 million (NOK 5.27 per share), compared with NOK 887 million (NOK 3.06 per
share) last year. Excluding net foreign exchange gains/losses and special items,
the result was NOK 4.22 per share compared with NOK 2.81 per share in first
quarter 2009.  First-quarter operating income was NOK 2,315 million compared
with NOK 1,194 million last year. EBITDA for the quarter was NOK 3,251 million
compared with NOK 2,036 million in first quarter 2008.

"Yara reports strong first-quarter results. Fertilizer markets have improved
substantially from the downturn witnessed in late 2008 and 2009. Yara has
increased production to full capacity again in the first quarter, and prices
have continued to increase. However, we are prepared for volatile markets going
forward and can meet these with the flexibility and scale in Yara's business
model", said Jørgen Ole Haslestad, President and Chief Executive Officer of
Yara.

"We did not succeed in acquiring Terra Industries at an attractive price for
Yara, but our growth ambitions remain firm, with a scalable business model
geared for profitable expansions. However, as demonstrated by our decision to
not participate in a Terra bidding war, strict focus on financial discipline and
attractive valuation remain at the core of Yara's growth strategy", said Jørgen
Ole Haslestad.

Yara fertilizer deliveries were up 8% on first quarter last year. The company
continued to exercise tight inventory management, maintaining an already low
stock level and ending 37% below first quarter 2009. First-quarter margins for
the Industrial segment were second only to a year ago, when margins were boosted
by contractual time lags. Fertilizer production increased to full capacity at
the beginning of the first quarter as NPK demand picked up, following production
curtailments since late 2008. First-quarter results include a break fee paid to
Yara after the termination of the merger agreement with Terra Industries, giving
a NOK 666 million profit before tax.

Going forward, the long-term fundamentals for fertilizer demand are strong as
global grain consumption growth remains historical high. Correct use of Yara's
products not only enhances agricultural efficiency, but also reduces greenhouse
gas emissions by limiting land use change and efficient bio energy production.
To enhance climate efficient use of fertilizer, Yara is launching a carbon
footprint guarantee for its products in the Nordic countries.

Link to 1st quarter webcast 23 April 2010 at 0930 CEST:
http://media01.smartcom.no/Microsite/start.aspx?eventid=5069


Contact

Torgeir Kvidal, Investor Relations
Telephone  ( 47) 24 15 72 95
Cellular ( 47) 91 339 832
E-mail torgeir.kvidal@yara.com

Asle Skredderberget, Media Relations
Cellular ( 47) 41 44 36 10
E-mail asle.skredderberget@yara.com


Yara International ASA is the world's leading chemical company that converts
energy, natural minerals and nitrogen from the air into essential products for
farmers and industrial customers. As the number one global supplier of mineral
fertilizers, we help provide food for a growing world population. Our industrial
product portfolio includes environmental protection agents that prevent air
pollution. Yara's global workforce of 8000 employees represents the great
diversity and knowledge that enables Yara to remain a leading performer in the
industry.
www.yara.com

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


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1Q 2010 Presentation: http://hugin.info/134793/R/1406993/360604.pdf
1Q 2010 Report: http://hugin.info/134793/R/1406993/360530.pdf
Link to webcast:: http://media01.smartcom.no/Microsite/start.aspx?eventid=5069




Unternehmen: Yara International ASA - ISIN: NO0010208051