Yara International ASA — Q1 2024 Earnings Presentation

5 slides from Yara International ASA's earnings presentation, May 26, 2024

Slide 1: Pre-quarter information 1Q 2024
Pre-quarter information 1Q 2024
Slide 2: Key market prices and outside-in model
Key market prices and outside-in model Market prices Outside-in model MUSD, volume neutral, based on sensitivities2 Fertilizers USD/ton, average of publications 2023 2024 1Q 23 487 Avg Avg Nov Dec Jan Feb Nov Dec Jan Feb 1Q231 1Q241 Price/margin Ammonia 72 Ammonia, FOB 895 848 774 665 762 510 477 41
Slide 3: Key considerations first quarter 2023 and 2024
Key considerations first quarter 2023 and 2024 Key elements 1Q23 Relevant elements 1Q24 • Curtailments: 44% of ammonia capacity and 30% of finished product • Updated sensitivities in 4Q23 capacity in Europe was curtailed in 1Q23 • Sensitivities published on Yara.com are based on a normalized capacit
Slide 4: Market developments
Focus on key urea market developments, not representing Yara’s business Market developments Urea price developments Dec-Feb 24 Regional developments • Urea prices were stable in December following declines earlier in 2H • Nitrate prices in Europe stable lately, gaining attractiveness versus urea. We
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