Yara International ASA has reported satisfactory underlying results for fourth quarter 2008, with significant negative one-offs, and full-year results regarded as ‘the best so far for Yara’.
Although results are weaker than last year due to lower sales volumes, write-downs on third-party sourced inventories and foreign exchange losses on debt, full-year 2008 results are the best so far for the company.
Yara revealed a negative fourth-quarter net income after minority interest of NOK 2,109m (negative NOK 7.27 per share), compared with a profit of NOK 2,044m (NOK 7.01 per share) last year.
Fourth-quarter operating income was NOK 408m compared with NOK 1,494m last year. EBITDA for the quarter was NOK 1,626m compared with NOK 2,531m in the fourth quarter last year.
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