By Kjetil Malkenes Hovland
OSLO--Norway's Yara International ASA (YAR.OS) said Wednesday
that its fourth-quarter net profit rose significantly on the year
amid improved margins, as the fertilizer producer benefits from
lower European gas prices and a stronger dollar.
Fourth-quarter net profit was 1.86 billion Norwegian kroner
($245.24 million), compared with a restated net profit of NOK63
million in the same period a year earlier, which was hit by foreign
exchange effects and one-offs including a corruption fine from
Norwegian authorities.
Fourth-quarter revenue totaled NOK25.99 billion, from NOK20.47
billion a year earlier. Earnings before interest and taxes totaled
NOK3.12 billion, from NOK656 million. The company said it would pay
a dividend of NOK13 per share for 2014, from NOK10 a year
earlier.
Yara said it expected its first-quarter European energy costs to
drop by NOK1.3 billion on the year, and second-quarter European
energy costs to be NOK700 million lower than a year earlier.
Write to Kjetil Malkenes Hovland at
kjetilmalkenes.hovland@wsj.com