January 9, 2019 / 2:26 PM / 5 months ago

Fertiliser maker Yara to focus on improvement amid high uncertainty -CEO

OSLO, Jan 9 (Reuters) - Norwegian fertiliser maker Yara sees a lot of uncertainty on prices for its products and input factors in the time ahead despite less capacity coming into the market, its chief executive told Reuters on Wednesday.

“We are going into a year with less capacity growth after a rapid expansion period. Demand increased during last summer and autumn but the market is characterized by a lot of volatility,” Svein Tore Holsether said on the sidelines of a conference.

“We have a high degree of uncertainty about the price of products and input factors, which we cannot influence, so for us it is important to focus on what we can do something about, and that is our improvement program,” he added.

Yara said in October it was on track to reach a target of at least $500 million of annual EBITDA improvement by 2020, of which $330 million had been achieved at the end of the third quarter.

Yara’s shares have risen by 10 percent so far this year but are still down six percent in the last 12 months. (Reporting by Camilla Knudsen, writing by Ole Petter Skonnord, editing by Terje Solsvik)

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