Latest news with #fertilisers
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.
Reuters
2 days ago
- Business
- Reuters
Yara reports core profit miss for 2nd quarter
July 18 (Reuters) - Yara, ( opens new tab one of the world's largest producers of fertilisers, missed adjusted core profit expectations on Friday as it reported its second-quarter results. The Norwegian group posted adjusted earnings before interest, taxes, depreciation and amortization of $652 billion for the April-June period, below analysts' expectations that saw it reach $668 billion, according to a company-provided consensus.
CNA
12-07-2025
- Business
- CNA
Moscow blames sanctions for Russia-UN food deal collapse
MOSCOW: Russia said on Saturday (Jul 12) that its agreement with the United Nations to facilitate exports of Russian food and fertilisers had collapsed due to Western sanctions over Moscow's offensive in Ukraine. A day earlier, the UN said the three-year agreement, signed in 2022 in a bid to rein in global food prices, would end on Jul 22. A source close to the discussions, who asked not to be named, told AFP the deal "will not be renewed" due to disagreements. The UN signed the agreement with Russia on Jul 22, 2022, with the aim of facilitating exports of Russian food and fertilisers, despite Western sanctions on Moscow. Russia's foreign ministry said on Saturday that extending the deal was not "envisaged". "Given the destructive line of Western capitals ... to increase illegal unilateral sanctions against Russia, none of the objectives (of the agreement) have been successfully completed," the ministry said in a statement. The economic sanctions imposed on Russia spared fertilisers and grain, but fear of accidentally ending up on the wrong side of the law had paralysed transporters and caused insurance premiums to skyrocket. After intense discussions, Russia and the UN established a framework to facilitate insurance and financial transactions that was compatible with US, British and European Union sanctions systems. But Russia - the world's largest fertiliser producer - had repeatedly complained the agreement was doing little to protect it from secondary sanction effects. Russia's foreign ministry said on Saturday that talks between two sides could continue for the sake "of global food security". A second agreement was also signed under the auspices of the UN on Jul 22, 2022, aimed at allowing the export of Ukrainian cereals blocked by Russia's war in the country. That deal was seen as more successful, but Moscow, angered over continued obstacles to trade in Russian agriculture products, refused to extend it after it lapsed in July 2023.
Zawya
27-05-2025
- Business
- Zawya
Jordan: Industrial exports drive 11.7% growth in Q1
AMMAN — National exports rose by 11.7 per cent in the first quarter of 2025, reaching JD2.093 billion, compared with JD1.873 billion during the same period last year, the Department of Statistics (DoS) said on Sunday. The growth was driven by 'strong' performance in key industrial sectors, including fertilisers, apparel, jewellery and potash, the DoS' foreign trade report, cited by the Jordan News Agency, Petra, showed. Six major industrial commodities accounted for 57.5 per cent of total national exports during the quarter. Chemical fertilisers led the list with export revenues rising to JD243 million, up 20.9 per cent from JD201 million in the first quarter of 2024. Apparel and related products remained the Kingdom's top industrial export by value, generating JD384 million, an increase of 6.1 per cent from JD362 million a year earlier. Jewellery exports also showed 'strong' momentum, climbing 13.3 per cent to JD221 million, compared with JD195 million in the same period last year. Raw potash exports posted a modest increase of 2.6 per cent, totalling JD120 million, up from JD117 million in the corresponding period of 2024. The report also showed declines in other key sectors. Phosphate exports dropped by 8.2 per cent to JD112 million, down from JD122 million in the first quarter of the previous year. Pharmaceutical exports saw a sharper decline of 11.5 per cent, falling to JD123 million from JD139 million. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
