Yara’s profitability was between a rock and a hard place in the Q2. A significant fall in sales prices smashed profitability, which was not fully offset by lower energy prices. Volumes showed some recovery. This scenario had been broadly anticipated although its magnitude was far greater (miss to consensus -sales: -13.5%; Yara’s EBITDA: -56.9%; net result: loss of USD-298m vs: USD185m consensus estimate).
The management indicated that the worst could be over. Curtailments have been lowered and ....
19 Jul 2023
Strong margin squeeze in Q2
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Strong margin squeeze in Q2
- Published:
19 Jul 2023 -
Author:
Martin Schnee -
Pages:
4
Yara’s profitability was between a rock and a hard place in the Q2. A significant fall in sales prices smashed profitability, which was not fully offset by lower energy prices. Volumes showed some recovery. This scenario had been broadly anticipated although its magnitude was far greater (miss to consensus -sales: -13.5%; Yara’s EBITDA: -56.9%; net result: loss of USD-298m vs: USD185m consensus estimate).
The management indicated that the worst could be over. Curtailments have been lowered and ....