Yara International Asa · OSL:YAR
Yara International Asa — Q3 2026 Earnings Presentation
11 slides from Yara International Asa's earnings presentation, 2026
Slide 1: Pre-quarter information 3Q 2026
Pre-quarter information 3Q 2026
Slide 2: Pre-quarter information
Pre-quarter information • On the first day of quiet period, Yara publishes a pre-quarter information package on the website, ensuring that all externally available information relevant to model the upcoming quarter is accessible to all at the same time. • Yara does not provide guidance on total fina
Slide 3: Key market prices and outside-in model
Key market prices and outside-in model Market prices Outside-in estimate, volume neutral MUSD, based on financial sensitivities1,2 2025 2026 Avg Avg May Jun Jul Aug May Jun Jul Aug 3Q 25 3Q 26 Ammonia 3Q 25 804 FOB Arab Gulf 283 290 313 319 307 773 758 622 498 626 Urea Europe Fertilizers1 FCA France
Slide 4: Key considerations in addition to market prices
Key considerations in addition to market prices 3Q 25 • Nitrate and premiums were on a downward trend but still at strong levels compared to 1H 2026. • 40 MUSD positive impact from fixed cost reduction program. • Seasonally strong orderbook going into the quarter, suggested 2 months price lag on nit
Slide 5: Market developments
Focus on key urea market developments, not representing Yara’s business Market developments Urea price developments 3Q 26 Regional developments • Urea prices increased through the third quarter, despite the return of • There was an increase in urea import demand from Europe in 3Q. Preliminary data C
Slide 6: Q&A 1/3
Q&A 1/3 Q: Impact from increased gas costs in Europe? Q: Is the effect of curtailments included in the gas guiding? A: Gas to Ammonia upgrading margins in Europe turned negative during the quarter due to A: Yara’s gas guidance is volume neutral and is consequently not adjusted for increasing gas pri
Slide 7: Q&A 2/3
Q&A 2/3 Q: How should I think about premiums for the quarter? Q: Yara exposure to the middle east? A: Important to remember that premium is not the same as margin. A: Yara has limited direct exposure to the region, and the primary impact on Yara’s Yara reported pressured nitrate and NPK premiums in
Slide 8: Q&A 3/3
Q&A 3/3 Q: How should I model progress on the improvement target of 200 MUSD by Q: What is the impact from phosphate upgrading margins economics on your 2027? results? A: No specific guidance provided for the timing of improvement initiates, will be a A: Phosphate upgrading margins are a driver to Y
Slide 9: Negative ammonia margins in Europe, urea close to break even
Negative ammonia margins in Europe, urea close to break even Ammonia weekly price vs. gas cost Urea weekly price vs. gas cost (no other costs included) (no other costs included) 1,000 1,000 NH3 CFR 800 Europe2 800 Urea FOB Egypt2 + 35 USD/t freight (no CBAM) 600 600 Gas cost proxy1 400 400 Gas cost
Slide 10: 3Q 26 | Timeline
3Q 26 | Timeline Closed period: September 25th, 2026 – October 21st, 2026* Ahead of announcement of quarterly results, Yara has a so-called "closed period" when contact with external analysts, investors and journalists is minimized. Yara will not comment upon own activities or market developments du
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