Yara Q1 up yr-on-yr, but EBITDA, pretax below forecasts on higher costs |
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Fri, 20 Apr 2007 08:17
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OSLO (Thomson Financial) - Yara International ASA posted first-quarter figures well ahead year-on-year, but profits at both the operating and pretax levels fell slightly below market forecasts on higher operating costs and expenses.For the first quarter, chemical and fertiliser firm Yara posted sales of 13.49 bln nkr, up from 11.74 bln last year, and ahead of the 13.20 bln consensus forecast of analysts polled by TDN Finans.EBITDA came in at 1.79 bln nkr, up from 1.49 bln last time, but below the 1.91 bln consensus forecast.Pretax profits, meanwhile, came in at 1.40 bln nkr, strongly up from the 1.14 bln posted at the same stage last year, but slightly below the 1.45 bln figure expected by analysts.Operating costs and expenses during the quarter came in at 12.43 bln nkr, up from 10.98 bln last time.Yara said the strong year-on-year performance was due to higher volumes as the European fertiliser market recovered, global fertiliser prices strengthened and energy costs were eased.alastair.reed@thomson.comar/ambCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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