Yara International Asa · OSL:YAR
Yara International Asa — Q2 2026 Earnings Presentation
11 slides from Yara International Asa's earnings presentation, 2026
Slide 1: Pre-quarter information 2Q 2026
Pre-quarter information 2Q 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 Feb Mar Apr May Feb Mar Apr May 2Q 25 2Q 26 2Q 25 652 Ammonia FOB Arab Gulf 329 306 285 283 291 475 542 701 773 672 Fertilizers1 Urea Europe Ammonia 43
Slide 4: Key considerations in addition to market prices
Key considerations in addition to market prices 2Q 25 • Total deliveries in line with the year before • Strong nitrate and NPK premiums • 46 MUSD positive impact from fixed cost reduction program 2Q 26 • Strong deliveries in Europe in 4Q 25 and 1Q 26 as CBAM triggered pre-buying • Significant volati
Slide 5: Market developments
Focus on key urea market developments, not representing Yara’s business Market developments Urea price developments 2Q 2026 Regional developments • Urea prices increased significantly after the outbreak of the Middle East conflict, • Peak season in Europe coincided with a period of very strong urea
Slide 6: Q&A 1/3
Q&A 1/3 Q: How should I think about deliveries for the quarter? Q: What is the impact from phosphate upgrading margins economics on your A: No guiding policy, please refer to general market commentary and comments provided in results? previous quarterly presentations. A: Phosphate upgrading margins
Slide 7: Q&A 2/3
Q&A 2/3 Q: How should the impacts of the Strait of Hormuz be considered when modelling Q: Yara exposure to the middle east? the quarter? A: Yara has limited direct exposure to the region, and the primary impact on Yara’s A: Yara does not guide on its volumes or realized prices. Looking at global mar
Slide 8: Q&A 3/3
Q&A 3/3 Q: How should I model progress on the improvement target of 200 MUSD by 2027? A: No specific guidance provided for the timing of improvement initiates, will be a gradual phasing over the two years. Q: What is Yara’s EU ETS costs in 2Q 2026? A: Yara’s EU ETS cost is calculated as the differen
Slide 9: 2Q 26 Timeline
2Q 26 | Timeline Closed period: June 19th, 2026 – July 17th, 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 during thi
Slide 10: Sensitivities updated ahead of 1Q26 to reflect current operations and CBAM price effect
Sensitivities updated ahead of 1Q26 to reflect current operations and CBAM price effect on nitrogen in Europe Annual sensitivities with CBAM split EBITDA Reference recommended EU Urea sensitivity +10 USD/t 24.8 Urea FCA France • With the parallel implementation of CBAM and phasing out of free allowa
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