Sales of fertilizers to pull Brazil result of Yara in 3Q

The Norwegian Yara International registered in the third quarter of this year sales records for fertilizers and higher margins due to lower gas prices in Europe, which helped to boost its financial results during this period, the company reported this morning.
The company recorded net profit of 1.707 billion Norwegian kroner ($ 260,03 million), compared to 1.571 billion ($ 239.3 million) from the same period last year.
The net revenues, in turn, amounted to 24.10 billion kroner (US $ 3.67 billion), more than the 20.61 billion kroner (US $ 3.14 billion) recorded in the third quarter of 2013 and also above the market's expectation of 21.67 billion kroner (US $ 3.30 billion).
Orders have risen 16% fertilizer compared to quarter to quarter, pulled mainly by Brazil, with the inclusion of packages operated by Bunge in August 2013, according to the company. Without Brazil, fertilizer sales rose 6 percent on the same comparison, highlighting the supply of urea and nitrates.
Yara's industrial sales, in turn, recorded high of 7% in the third quarter of this year compared to the same period in 2013.
"Yara recorded strong results in the third quarter with record deliveries, reflecting both organic growth and the acquisition [fertilizer operations] of Bunge in Brazil," said this morning the CEO Torgeir Kvidal. "Our plants in Europe had a good performance, with higher output and better margins, as gas prices on the continent retreated," he said.
While the overall average cost of oil and gas from the Norwegian company retreated 19% during this period, the average prices of urea grew by 3% compared with the third quarter of last year.