Yara International : Consensus estimates - 8 May 2024

Yara

May 8, 2024

Date of next report: July 19, 2024 (08:00 CET)

Date of last report: April 26, 2024

Latest update	Recommendations	Target price (NOK)
April 29, 2024	Buy/add	4	Average	350
	Hold/neutral	5	Contributors	12
Oldest update	Sell/reduce	3
April 26, 2024

	Quarterly estimates						Yearly estimates
Currency:	2023Q2	2024Q2						2023Y	2024Y		2025Y		2026Y
USDm	Actual	Average	Median	Low	High	Contr		Actual	Average	Contr	Average	Contr	Average	Contr
Revenue and other income	3,943	3,748	3,864	2,969	4,346	9		15,547	14,412	12	15,077	12	15,314	12
Growth	-38.9%	-4.9%	-2.0%	-24.7%	10.2%	9	-35.4%	-7.3%	12	4.6%	12	1.6%	12
Operating income (Yara definition)	-250	142	147	7	219	7	312	757	11	1,042	11	1,127	11
Margin	-6.3%	3.8%	4.8%	0.2%	5.7%	7	2.0%	5.3%	11	6.9%	11	7.4%	11
EBITDA (Yara definition) excl. special items	252	464	482	286	593	9	1,712	1,945	12
Margin	6.4%	12.4%	13.2%	8.5%	15.1%	9	11.0%	13.5%	12
Total special items in EBITDA (Yara definition)	-15	0	0	0	0	9	-3	0	12
EBITDA (Yara definition)	237	464	482	286	593	9	1,709	1,945	12	2,250	12	2,355	12
Margin	6.0%	12.4%	13.2%	8.5%	15.1%	9	11.0%	13.5%	12	14.9%	12	15.4%	12
Foreign currency translation gain/loss	-14	0	0	0	0	9	-32	-40.2	12	0	0	0	0
Income before tax	-291	134	142	-16	243	9	191	607	12	934	12	1,017	12
Net income to parent company shareholders	-300	102	111	-12	184	9	48	445	12	720	12	783	12
EPS	-1.18	0.40	0.44	-0.05	0.72	9	0.19	1.75	12	2.83	12	3.07	12
EPS excluding currency and special items	-0.36	0.40	0.44	-0.05	0.72	9	1.11	1.74	8
No of shares in EPS calculation		254.7	254.7	254.7	254.7				254.7		254.7		254.7
DPS total (NOK)							5.00	11.38	12	17.34	12	18.53	12
DPS total (USD)							0.57	1.09	12	1.65	12	1.77	12
Contributors													Contact: Kristian Lang
ABG Sundal Collier	Exane BNP Paribas			SEB Equities									Infront
BMO Capital Markets	Morgan Stanley			Sparebank 1 Markets						Telephone: [phone]
BofA Securities	Nordea Markets										E-mail: [e-mail]
Deutsche Bank	Norne Securities
DNB Markets	Pareto Securities

Definitions

Common			Statistics
Contributors	Name of the contributing firms		Actual	Outcome same period last year
Date of report	Date of the company's next interim report		Average	Arithmetic mean
Latest report	Date of the company's latest interim report		Chg Q	Change in	consensus (average)	since last report, in percent
Latest update	Date of the latest analyst report, included in consensus		Contr	Number of contributors/analysts
Next report	Date of the company's next interim report		Median	The estimate in the middle of the estimates included in consensus
Oldest update	Date of the oldest analyst report, included in consensus		Low	The smallest estimate in the consensus
Target price	The contributors/analysts price target 6-12 month		High	The largest estimate in the consensus
			Std	Estimates standard deviation based on the estimates included in consensus
Variables
The variables are defined according to the company's own definitions
DPS	Dividend per share
EPS	Earnings per share, calculated from analysts net profit and Infront Data's number of shares
Growth	Growth in the P&L level above compared to same period last year
Margin	Margin for the P&L level above. P&L level divided by sales excluding VAT
Net earnings	Net earnings attributable to parent company shareholders
No of shares in EPS calculation	Total number of shares outstanding
Disclaimer			Contact Information
This report has been prepared by Infront Data, the financial research department of Infront Finance.		Responsible Analyst	Head of Research
The report has been compiled exclusively for the customers of Infront Data and the consent of Infront Data is required for		Contact: Kristian Lang	Contact: Andreas Westermark
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