Adds vitality prices, element
OSLO, July 16 (Reuters) – Norwegian fertiliser firm Yara YAR.OL on Friday proposed an extra dividend of 20 Norwegian crowns ($2.27) per share to be paid within the third quarter after sturdy second-quarter money circulate.
April-June earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA), excluding non-recurring gadgets, rose to $775 million from $588 million and topped the $769 million anticipated by 10 analysts, Refinitiv Eikon knowledge confirmed.
Greater costs greater than offset rising prices of pure fuel used to make nitrogen fertilisers, the Oslo-listed agency mentioned.
“Nitrogen fertiliser markets are strong, with considerably larger costs than a 12 months in the past reflecting each stronger demand and restricted new provide,” Yara mentioned.
European pure fuel costs have continued to rise from report low ranges in 2020 however have been greater than offset by larger nitrogen costs, the corporate mentioned.
Yara mentioned it anticipated to pay $380 million extra for pure fuel within the third quarter than a 12 months earlier, and $300 million extra within the fourth quarter.
($1 = 8.8176 Norwegian crowns)
(Reporting by Victoria Klesty)
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