The following is a summary of the Yara International ASA (YARIY) Q1 2024 Earnings Call Transcript:
Financial Performance:
Yara International's EBITDA decreased by 11% due to higher volumes offset by lower margins, reflecting the volatility in nitrogen prices.
The company's nitrogen prices have fallen compared to the previous year, causing a negative price impact of approximately $615 million.
Return on invested capital dropped from 20.1% to 2.5% for the last 12 months mainly due to the lower margin environment in 2023 compared to 2022.
The company's net debt-to-equity ratio is at 53% and the net debt-to-EBITDA ratio is 2.38.
Business Progress:
Yara International reported a 37% increase in volumes in Europe compared to last year, largely due to improved production margins driven by lower gas costs.
The company is on track with its ambitious environmental goals, reducing its greenhouse gas emission intensity by 4% and confident of achieving its 2025 target.
The company has completed 65 of 90 projects aimed at reducing greenhouse gas emissions, with an expectation of reducing emissions by around 1.7 million tons of CO2 by 2025.
Yara International is actively pursuing opportunities in clean ammonia and working with partners to decarbonize food value chains to adapt to increasing demand for low carbon solutions.
More details: YARA INTERNATIONAL ASA SPON ADR EACH REP 0.50 ORD SHS IR
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