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2015-04-24

Yara International ASA: Yara reports strong first-quarter results

Oslo,
24 April 2015: Yara International ASA delivered strong first-quarter results,
with higher deliveries and improved margins reflecting l
ower gas costs and a stronger US dollar. The Lifeco write-down had a negative
net income impact of NOK 929 million.

"Yara reports strong first-quarter results with higher deliveries and improved
margins, reflecting continued lower natural gas cost and a stronger US
dollar," said Torgeir Kvidal, Acting President and Chief Executive Officer of
Yara.

"Ammonia and finished fertilizer production increased significantly in the
quarter, benefitting from improved reliability and debottlenecking," said
Torgeir Kvidal.

Yara reports first-quarter net income after non-controlling interests of NOK
729 million (NOK 2.65 per share), compared with NOK 1,773 million (NOK 6.40
per share) a year earlier. Excluding net foreign exchange loss and special
items, the result was NOK 10.51 per share compared with NOK 7.03 per share
first quarter 2014. First-quarter EBITDA excluding special items was NOK
5,742 million compared with NOK 3,830 million a year earlier.

Global Yara fertilizer deliveries were up 3% from first quarter 2014 due to
the acquisitions of OFD in Latin America and Galvani in Brazil. Excluding OFD
and Galvani, deliveries were slightly lower than last year. In Europe,
fertilizer deliveries were down 3% mainly due to a more normal spring this
year compared with an early spring last year. Fertilizer deliveries outside
Europe were up 8%, however excluding OFD and Galvani, deliveries were in line
with last year. Industrial sales volumes increased by 11% compared with first
quarter 2014.

Yara's margins benefitted from lower energy costs and a stronger US dollar in
the first quarter. While Yara's average realized urea prices decreased 10%,
realized nitrate prices were down 5% and compound NPK prices decreased on
average 3% compared with first quarter 2014. Industrial margins were higher
compared with a year earlier.

Global nitrogen demand remained strong during the first quarter but continued
high urea exports from China resulted in lower commodity nitrogen prices
during the quarter. Season-to-date nitrogen industry deliveries are in line
with last year in Europe while US nitrogen deliveries are 6% higher than the
previous season. Based on current forward markets for oil products and
natural gas, Yara's European energy costs for the next two quarters are
expected to be NOK 800 million lower than a year earlier.

Link to report and presentation:
http://www.yara.com/investor_relations/quarterly_report/index.aspx
Link to webcast 24 April at 09:30 CEST:
http://www.yara.com/investor_relations/financial_webcasts/index.aspx

Contact

Anders Lerstad, Investor Relations

Telephone: (+47) 24 15 72 95

Cellular: (+47) 93 42 69 54
E-mail:anders.lerstad@yara.com
Bernhard Stormyr, Media Relations

Cellular: (+47) 90 10 76 85

E-mail:bernhard.stormyr@yara.com
About Yara
Yara's knowledge, products and solutions grow farmers' and industrial
customers' businesses profitably and responsibly, while nurturing and
protecting the earth's resources, food and environment.

Our fertilizers, crop nutrition programs and technologies increase yields,
improve product quality and reduce the environmental impact of agricultural
practices. Our industrial and environmental solutions improve air quality by
reducing emissions from industry and transportation, and serve as key
ingredients in the production of a wide range of goods. We foster a culture
that promotes the safety of our employees, contractors and societies.

Founded in 1905 to solve emerging famine in Europe, today, Yara has a
worldwide presence, with more than 12,000 employees and sales to more than
150 countries.
www.yara.com

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

1Q 2015 Report
http://hugin.info/134793/R/1914197/683965.pdf
1Q 2015 Presentation
http://hugin.info/134793/R/1914197/683974.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Yara International ASA via Globenewswire

HUG#1914197

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