Q1 2026 Yara International ASA Earnings Call Transcript
Key Points
- Yara International ASA (YARIY) reported a strong quarter with an EBITDA excluding special items of $896 million, marking a 40% increase compared to the previous year.
- The company demonstrated strong commercial execution, increasing deliveries to customers and maximizing production volumes.
- Yara's global diversification and energy flexibility in Europe have allowed it to maintain production and supply continuity despite market disruptions.
- The company's return on invested capital has doubled from 6% last year to 12.2%, surpassing its through-the-cycle target of 10%.
- Yara's fixed cost reduction program continues to positively impact EBITDA, with a further $18 million reduction from last year.
- Yara International ASA (YARIY) experienced an increase in workplace accidents, with 59 incidents reported over the last 12 months.
- The ongoing Middle East conflict has disrupted global fertilizer markets, leading to significant increases in fertilizer prices and affecting farmer affordability.
- The blockage of the Strait of Hormuz has disrupted the supply of key raw materials, including urea, ammonia, phosphates, and sulfur.
- The company faces challenges from weak crop prices and high regulatory burdens, which are putting pressure on farmers.
- Yara's industrial solutions deliveries are down 5% for the quarter due to planned closures in Brazil, impacting cash flow.
Welcome to Yara's first-quarter results presentation. The presentation today will be held by Yara's CEO, Svein Tore Holsether; and Yara's CFO, Magnus Krogh Ankarstrand. (Event Instructions)
But first, let's start the presentation. It is my pleasure to hand over to our CEO, Svein Tore Holsether.
Thank you, Maria. Good morning, good afternoon, good evening, depending on where you're dialing in from. And thank you for joining our first-quarter presentation. As always, I'm starting with our safety performance.
Our license to operate is creating a safe working environment for all our employees and contractors. And we have a lot to be proud of our performance in the first quarter, but safety is not one of them. We continue to see an increase in accidents, and this has also been the case in April, which means that we will likely see a further deterioration as we get into
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