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Yahoo
2 days ago
- Business
- Yahoo
Yara says it will invest in US ammonia projects
(Reuters) -Yara, one of the world's largest producers of fertilisers, said on Friday it planned to renew its ammonia portfolio by investing in projects in the U.S., as part of a push to improve shareholder returns. "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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
Yara says it will invest in US ammonia projects
July 18 (Reuters) - Yara, ( opens new tab one of the world's largest producers of fertilisers, said on Friday it planned to renew its ammonia portfolio by investing in projects in the U.S., as part of a push to improve shareholder returns. "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.
