Negative profit before tax $291 million – E24

Negative profit before tax 1 million – E24

Analysts had previously expected Yara to post a positive pre-tax result of $242 million.

So far this year, Yara’s share is down just over eight percent.

Status updated.

Yara had sales of $3.9 billion in the second quarter and ended with a negative result of $291 billion.

Up front, Yara was expected to deliver a positive pre-tax result of $242 million for the second quarter of 2023.

Shows average analyst forecasts obtained by TDN Direkt.

This corresponds to just over NOK 2.9 billion.

In the report, the company notes lower margins and writes that lower prices led to more loss of position.

In the second quarter of last year, by comparison, Yara finished with a positive result of $921 million.

So far this year, Yara’s stake is down more than eight percent, but Yara also paid out a dividend of NOK 55 per share for the year.

– The second quarter result is affected by the downward price trend we have seen so far in 2023, which is putting pressure on margins for the entire industry. However, the recent price increase points to increased demand in the future, says Svein Tore Holsether, CEO of Yara.

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CEO Yara Holsether has previously spoken about missile attacks, high gas prices and the food crisis.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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