Yara International Asa (YRAIF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Jara's first quarter results presentation. Today's presentation will be held by our CEO, Svein Tore Holsetter, and our CFO, Magnus Krogh Angarstad. There will be a conference call at 1 p.m. Oslo time where you can dial in and ask questions to management. You can find login details on our website under investors. With that, it's my pleasure to hand over to Svein Tore Holsetter. Thank you, Maria, and good morning, good afternoon, good evening, depending on where you're calling in from, and thank you for joining our first quarter results presentation. As always, we start by looking at our safety performance. Yara must be a safe place to work for our colleagues and contractors. Unfortunately, the start of this year has not shown the continued strong progress that we've aimed for, and we saw an increase in the accidents across several of our sites. I take this personally, and I'm not satisfied with my performance on safety. We have addressed this immediately within the organization, and we've taken action on this to strengthen our focus on execution on Safe by Choice, making sure that the basics and routines are in place. This negative trend clearly demonstrates that safety requires continuous focus, and we still have accidents that could and should have been avoided. This has unfortunately also continued into the second quarter, and at our current rate, we will see a negative trend in the next quarter as well. While the real severity and also the potential severity of the accidents remain low, this is something I will continue to have on top of my agenda to reverse the trend and to achieve our ambition of zero accidents. Moving then to the results in the first quarter, Yara reports an EBITDA excluding special items up 47% compared to last year. And this reflec...