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Yara International (YAR) investor relations material

Yara International Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary17 Oct, 2025

Executive summary

  • EBITDA excluding special items rose 38% year-over-year to $804M in 3Q25, driven by higher margins, cost reductions, and strong operational performance.

  • Adjusted earnings per share YTD 2025 increased to $3.25 from $1.37 last year.

  • Record-high production and robust commercial execution supported results, with total deliveries flat as higher urea sales offset lower nitrate sales.

  • Stable demand in key markets, notably Brazil, with improved NPK sales and steady nitrogen imports year-over-year.

  • Portfolio optimization and cost reduction programs continued, including plant closures and asset reallocation.

Financial highlights

  • Revenue for Q3 2025 was $4,108M, up from $3,654M in Q3 2024; YTD revenue reached $11,703M, up from $10,515M.

  • EBITDA excluding special items increased from $585M in 3Q24 to $804M in 3Q25.

  • ROIC (annualized) improved to 12.6% in 3Q25 from 8.9% in 3Q24.

  • Free cash flow impacted by increased operating capital from higher prices and inventory build outside main season.

  • Net debt remained stable at $3,316M, as strong cash earnings offset seasonal capital build.

Outlook and guidance

  • Maintenance CapEx for 2026 expected at the higher end of $700–$850 million range due to major plant turnarounds.

  • Cost and capex reduction program ahead of schedule, targeting $180M in annual fixed cost savings by Q4 2025.

  • No specific guidance on NPK premiums or future margins due to market volatility and CBAM uncertainty.

  • U.S. clean ammonia project updates expected in first half of next year; equity portion to be managed within capital allocation policy.

  • Nitrogen markets remain demand-driven; urea prices above historical averages despite low grain prices.

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Frequently asked questions

Yara International ASA is a fertilizer company that provides environmental and industrial solutions in Norway and internationally. Yara develops and produces products based on the mineral compound phosphate, a natural resource found in abundance in sea water and land. The company operates through its two segments of PTA (ammonium polyphosphate) and Magnesium (carbonates, oxides, salts), and Yara Ventures which includes Silcones and Minerals. Yara International is headquartered in Oslo, Norway

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