The following is a summary of the Yara International ASA (YARIY) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Yara International reported a 13% increase in the Africa and Asia business unit year-over-year due to improved demand.

• The company experienced improved earnings from the third quarter towards the fourth quarter of 2023, demonstrating a positive trend.

Business Progress:

• Yara is in the commissioning phase of the Porsgrunn pilot project, with some green premium expected due to reduced carbon footprint.

• Plans are in place for a Final Investment Decision in the second half of 2025 for a major project, with funding considerations involving efficiency improvements, potential IPO, and divestments.

• An increase in nitrates prices is being planned to align with market trends.

• The company is working on securing agreements for maturing the potential market side for the US projects and focusing on reducing carbon emission.

• Collaborative efforts are being made with various partners on supply and offtake.

• Anticipations reveal that the European nitrogen market's demands cannot be met solely by nitrate products hence, urea is expected to continue setting nitrogen prices.

• Yara has made progress on capturing CO2 through their process.

• There are indications of an operational plant start-up and the restart of production operations in locations like Romania.

• Curtailed productions are expected to start across Europe in 2024 following positive margins from current gas prices.

• Yara anticipates a supply increase from China in Q2, indicating uncertainties in the rest of the year's supply scenario.

More details: YARA INTERNATIONAL ASA SPON ADR EACH REP 0.50 ORD SHS IR

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