Yara Sees Earnings Weighed By $134 Million Impairments
January 29 2016 - 2:25AM
Dow Jones News
By Dominic Chopping
Norwegian fertilizer producer Yara International ASA (YAR.OS)
warned Friday that its fourth-quarter results will be hit by asset
impairment charges of around 1.15 billion Norwegian kroner ($133.6
million) as well as lower sales and production volumes.
The impairments relate to its Montoir fertilizer plant in
France, which has seen profits weighed by lower grain prices as
well as lower phosphate and potash demand, while its Trinidad
ammonia plant has experienced frequent gas supply curtailments and
low energy efficiency.
"In addition to the impairment charges, Yara's fourth-quarter
results are impacted by lower sales and production volumes compared
with a year earlier, mainly for ammonia and urea where Yara
suffered significant production outages during the quarter."
The company is due to report its fuill-year report on February
11, and it said operating income in the fourth-quarter is seen at
0.7 billion kroner, while earnings before interest, tax,
depreciation and amortisation is expected at around 3.5 billion
kroner.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
January 29, 2016 02:10 ET (07:10 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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