Yara publishes its 2023 Integrated Report

Oslo-based crop nutrition company Yara today published its 2023 Integrated Report.

Yara’s full-year 2023 net income was USD 54 million compared with USD 2,782 million a year earlier, mainly reflecting lower margins and higher impairment loss driven by a USD 168 million impairment of the Tertre plant in Belgium.

Excluding special items, EBITDA was USD 1,712 million compared with a record high of USD 4,889 million a year earlier.

Yara’s full-year 2023 EBITDA excluding special items was 65 per cent lower than a year earlier, mainly reflecting lower margins with lower selling prices more than offsetting lower production costs.

Deliveries decreased by 5 per cent compared to 2022, driven by reduced third-party product availability following sanctions on Russia.

Svein Tore Holsether, Yara President and CEO comments:  “Last year was characterized by volatility and challenges, but also by efforts to drive the energy transition and curb emissions. At Yara, we are balancing the handling of significant disruptions in the short-term with positioning ourselves for the longer term.”

Read more HERE.