Fertiliser manufacturer Yara said that revenue and other income for 2025 stood at over $15.7 billion, up from $13.9 billion in the previous year.

The Norwegian-headquartered company's earnings before interest, tax, depreciation, and amortisation (EBITDA), excluding special items, was $2.8 billion, 37% higher than 2024 ($2 billion).

Yara said the "strong performance" reflected higher margins and volumes, as well as reduced fixed costs.

Total deliveries were 4% higher compared with 2024, driven by Europe and Brazil.

Net income for 2025 was $1.37 billion, up from $15 million in the previous year.

Yara

In Europe, 2025 EBITDA excluding special items was $612 million, 121% higher than 2024, mainly reflecting higher margins, higher volumes, and lower fixed costs.

Total deliveries were 5% higher compared with 2024, driven by increased premium product deliveries.

In the Amercias, EBITDA excluding special items was $839 million, which is 28% higher than the previous year. Total deliveries were 6% higher compared with 2024.

EBITDA excluding special items in Africa and Asia was $227 million, 2% higher than 2024, while total deliveries were stable compared the previous year.

The company also reported today (Wednesday, February 11) fourth quarter (Q4) 2025 EBITDA, excluding special items, of $709 million, compared with $519 million in Q4 2024.

Net income for the quarter was $344 million, compared with a loss of $290 million a year earlier.

Total deliveries were 4% higher than for the same quarter a year ago, mainly from increased premium products and external ammonia sales.

Svein Tore Holsether, Yara president and chief executive officer, said that the company had "worked diligently to deliver on our cost reduction targets and sharpen our strategic focus to increase returns".

"I am pleased to say we have delivered on both, and we are well positioned to build on this momentum to further strengthen long-term value creation,” he said.

Yara has proposed an annual dividend of Norwegian Krone (NOK) 22 per share.

Fertiliser

Yara said it will optimise both ammonia sourcing and product allocation to avoid the EU's Carbon Border Adjustment Mechanism (CBAM) creating a competitive disadvantage on its production or exports.

In January, the European Commission proposed activating a clause for fertiliser under CBAM allowing suspension under serious and unforeseen circumstances.

Yara said this causes uncertainty for European industry, which "may lead to market volatility and create a less predictable environment for European farmers".

The company said that global nitrogen markets remain tight going into 2026.

"Strong sales and imports in Europe in 4Q have led to a slow start to 2026 with farmers being largely covered for the first application," Yara said.

Volatility

At the January 2026 Capital Markets Day, Yara introduced the next phase of its improvement programme.

This plan targets an incremental $200 million EBITDA improvement by the end of 2027 and a further $150 million EBTIDA improvement by the end of 2030.

The company said these improvements will be achieved through enhanced asset utilisation, logistical optimisation, targeted market opportunity and capital reallocation.

"Our ability to adapt, optimise and deploy our system where it creates the most value, combined with the expertise and commitment of our people, ensures that Yara remains robust in any environment.

"Our flexibility is a proven advantage, enabling us to manage different scenarios with confidence and maintain strong performance over time,” Holsether said.