Lower energy costs for gas in Europe were a significant help to Yara’s margins and the higher output from own production (and finally the delivery) gave an additional push. Due to the business model, gas prices remain an issue, but 2019 is expected to benefit from lower spot gas prices also in Q3 and Q4. The reported figures confirmed our positive view on the company and consensus was beaten.
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Ballooning margins
Lower energy costs for gas in Europe were a significant help to Yara’s margins and the higher output from own production (and finally the delivery) gave an additional push. Due to the business model, gas prices remain an issue, but 2019 is expected to benefit from lower spot gas prices also in Q3 and Q4. The reported figures confirmed our positive view on the company and consensus was beaten.