Yara's income has grown – compared to the same period last year.

The results for the second quarter show a net income after minority interest of NOK 846 million compared to NOK 800 million in the second quarter last year.

Excluding net foreign exchange gain/losses, the result was approximately NOK 3.18 per share compared with NOK 2.53 per share in second quarter 2004. Second quarter operating income was NOK 1,117 million compared with NOK 912 million in the same quarter last year. EBITDA for the quarter was NOK 1,868 million compared with NOK 1,484 million in the second quarter last year.

Thorleif Enger, president and CEO of Yara International ASA, explained the results.

He said: \\$quot;The second quarter results continued the strong development for Yara. Both high demand and good production levels in Yara's plants were important contributors.

\\$quot;While the total European market volume was down for the season, we continued to capture market share from imports. Over time a gradual decline in the mature European fertilizer market is expected, and Yara will counter this trend with a further strengthening of the fertilizer position as well as shifting some products to higher margin applications. One example is AdBlue for reduction of truck emissions, a product which we already distribute through more than 90 locations across Europe.\\$quot;

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