Norway's Yara Q3 net profit falls 26.6% on lower prices

19 October 2012 08:49  [Source: ICIS news]

SINGAPORE (ICIS)--Yara International’s third-quarter net profit after non-controlling interests fell by 26.6% year on year to Norwegian kroner (NKr) 2.62bn ($465m), partly on lower product prices, the fertilizer major said on Friday.

The company’s sales for the quarter slipped by 1.7% year on year to NKr20.8bn, while earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 24.6 % to NKR4.11bn, it said in a statement.

“Measured in USD [US dollars], average realized urea prices decreased 7%, nitrate prices decreased 9% and NPK [nitrogen phosphorous potassium] prices decreased 6%. Both fertilizer and industrial margins declined compared with last year,” the company said.

“Yara’s fourth-quarter energy costs are expected to be approximately NKr150m higher than last year,” it added.

($1 = NKr5.64)

By: Nurluqman Suratman

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