Yara says it will invest in US ammonia projects
"With the combination of cost reduction, portfolio optimization and a tightening nitrogen markets, Yara's financial position is set to strengthen with increased free cash flow and sustained profitability," CEO Svein Tore Holsether said in a statement.
"At the same time, we are ahead of plan in our cost and (capital expenditure) reduction program," Holsether added.
The Norwegian group embarked in 2024 on a $300 million cost and capex-cutting plan, which it said was so far ahead of schedule.
"So far, it suggests a Q4 2025 run rate of $2.35 billion excluding currency effects, which would represent $180 million in annual fixed cost savings net of inflation," Yara said.
It reported adjusted earnings before interest, taxes, depreciation and amortization of $652 billion for the April-June period, below analysts' expectations that expected it to reach $668 billion, according to a company-provided consensus.
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