Yara reports strong operational performance and cost improvements

07 Feb 2025 08:00 CET

Yara reports fourth quarter EBITDA excluding special items(1) of USD 519 million
compared with USD 576 million in fourth quarter 2023. Fourth quarter 2024
results were impacted by several non-cash effects, including negative special
items of USD 170 million in operating income and a currency loss of USD 260
million. This resulted in a negative net income in fourth quarter of USD 290
million, compared with positive USD 246 million a year earlier.

Fourth quarter 2024 highlights:

?    Record production(2) and safety performance, and delivering on cost
improvements
?    EBITDA(1) of 519 MUSD with lower prices, but improving markets into 2025
?    NOK 5 per share annual dividend proposed
?    Top priority is increasing free cash flow(3) and shareholder returns

"Yara's operational performance this quarter is strong, with record-high
production and safety performance. This marks a significant milestone in our
continuous work to improve safety and resilience in Yara. We're also progressing
well on our cost and capex reduction program, with a USD 90 million reduction
achieved in 2024," said Svein Tore Holsether, President and Chief Executive
Officer.

Net income for fourth quarter 2024 is impacted by several non-cash effects,
including currency translation loss, impairments and pension buy-out, totaling
to USD 430 million before tax. While a strengthening of the US dollar triggers a
currency translation loss on US debt positions, a stronger US dollar is
fundamentally positive for Yara's business, as nitrogen margins are largely USD-
driven. Going forward, the combination of strict capital discipline and a
tightening nitrogen market, is set to strengthen Yara's financial position,
driving increased free cash flow and sustainable profitability. This in turn
will enable funding of value-accretive growth and increased shareholder
returns.

"Yara's key priority is to create value for its shareholders, and our capital
allocation strategy is driven solely by the goal of maximizing long-term value.
By prioritizing our core business and focusing on higher-return operations, we
will ensure a fit-for-future Yara," said Holsether.

Link to report, presentation, and webcast on 7th February 2025, at 12:00
CET: https://www.yara.com/investor-relations/latest-quarterly-report/

1) EBITDA excluding special items. For definition and reconciliation see APM
section in the 4Q report, pages 26-34)
2) YIP production performance excluding Montoir
3) Net cash provided by operating activities minus net cash used in investment
activities (see cash flow statement in the 4Q report, page 13)

Contact
Maria Gabrielsen
Head of Investor Relations
M: +47 920 900 93
E: maria.gabrielsen@yara.com (mailto:maria.gabrielsen@yara.com)

Tonje Næss
Head of External Communications
M: +47 408 446 47
E: tonje.nass@yara.com (mailto:tonje.nass@yara.com)

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Maria Gabrielsen, Head of Investor Relations, at
Yara International ASA, on 7th February 2025 at 08:00 CET.

About Yara

Yara's mission is to responsibly feed the world and protect the planet. We
pursue a strategy of sustainable value growth through reducing emissions from
crop nutrition production and developing low-emission energy solutions. Yara's
ambition is focused on growing a nature-positive food future that creates value
for our customers, shareholders and society at large and delivers a more
sustainable food value chain.

To drive the green shift in fertilizer production, shipping, and other energy
intensive industries, Yara will produce ammonia with significantly lower
emissions. We provide digital tools for precision farming and work closely with
partners at all levels of the food value chain to share knowledge and promote
more efficient and sustainable solutions.

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. With
18,000 employees and operations in more than 60 countries, sustainability is an
integral part of our business model. In 2024, Yara reported revenues of USD
13.9 billion.

www.yara.com (https://www.yara.com)

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

More information:
Access the news on Oslo Bors NewsWeb site

638011_Yara 4Q 2024 Presentation.pdf
638011_Yara 4Q 2024 Report.pdf