Yara reports 14% return on investment in 2015
Svein Tore Holsether, President and CEO of Yara: "Our fertilizer deliveries in Latin America and Brazil were boosted by the acquisitions of OFD and Galvani, and also growing appetite for our premium products. In Europe, sales were somewhat lower reflecting a tougher market environment with declining prices.
"Sales in our Industrial segment grew steadily, in line with increasing demand for air pollution and urban odor abatement solutions. Yara’s environmental solutions help reduce harmful emissions both on land and at sea. Our NOx abatement reagent deliveries rose 20% in 2015, demonstrating the growing need to protect the environment and improve air quality.
"Yara delivered several important growth actions during the year, including acquiring Greenbelt Fertilizers in Zambia and the remaining 49% of Yara Pilbara in Australia. We continued to expand production capacity, investing USD 263 million in our Sluiskil plant (Netherlands) and injecting USD 132 million into the Salitre phosphate project (Brazil). We also signed a non-binding Heads of Terms for the sale of the European CO2 business to Praxair, with closing planned for second quarter 2016.
"A key concern in 2015 is related to the excessive unplanned downtime we experienced in some of our plants. It is of vital importance going forward that we improve our processes and systems to ensure stable operations at our plants."
Yara's annual report can be accessed here.
For more information:
Yara
Thor Giæver, Investor Relations
Mobile: (+47) 48 07 53 56
[email protected]
www.yara.com
