Yara International Asa — Q2 2024 Earnings Presentation

5 slides from Yara International Asa's earnings presentation, June 2024

Slide 1: Pre-quarter information 2Q 2024
Pre-quarter information 2Q 2024
Slide 2: Key market prices and outside-in model
Key market prices and outside-in model Market prices Outside-in estimate, volume neutral MUSD, based on sensitivities1,2 2023 2024 Avg Avg Feb Mar Apr May Feb Mar Apr May 2Q231 2Q241 Ammonia, FOB 2Q 23 252 Arab Gulf 665 448 297 249 331 319 285 282 314 293 Fertilizers USD/ton, Urea, FOB Arab average
Slide 3: Key considerations
Key considerations 2Q23 • Curtailments: 17% of ammonia capacity and 10% of finished product capacity in Europe was curtailed in 2Q23 • Negative price development across main fertilizer commodities (urea, DAP, MOP) led to significant position losses and inventory write-downs ‒ 140 MUSD inventory writ
Slide 4: Market developments
Focus on key urea market developments, not representing Yara’s business Market developments Urea price developments 2Q 2024 Regional developments • Early 2024 prices improved driven by just in time buying in the • At the end of 2Q the main application season is mostly completed in the northern hemis
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