Yara International has reported improved second-quarter results, as improved pricing more than offset the impact of higher energy cost. Second-quarter net income was USD 539 million (USD 2.10 per share) compared with USD 223 million (USD 0.83 per share) a year earlier.

 

“Yara delivers its twelfth consecutive quarter with improved capital returns, with EBITDA excluding special items up 32% reflecting improved pricing and recovering premiums,” said Svein Tore Holsether, President and Chief Executive Officer of Yara.

 

"Our cash flow improved further, with almost 3 billion US dollars of free cash flow generated over the last four quarters. As a result we will propose a NOK 20 per share additional dividend for payment in the third quarter, in line with our capital allocation policy,” said Holsether.

 

Second-quarter operating income was USD 477 million, compared with USD 335 million a year earlier. Earnings per share excluding currency effects and special items was USD 1.42, compared with USD 1.06 per share in second quarter 2020.

 

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.