Yara Specialities delivers another record year!
Yara Specialities closed 2004 with a record turnover of USD 773 million, up 20% or almost USD 130 million on 2003 figures and 45% or USD 240 million above 2002 figures. The growth can be explained by 10% due to price increases, 5% due to volume increase and 5% due to exchange rate effects.
The specialities business in Yara has with this record result more than doubled its turnover since 2001 and is now contributing significantly to the bottom line of Yara´s Downstream operation.
All our 9 Business Units have contributed to the growth in 2004, with the Business Units Latin America and Mediterranean making the lead. These two BU´s also passed USD 100 million in turnover for the first time and joined BU Asia and North America in the "above USD 100 million" category.
The ongoing integration of Phosyn business in our downstream activity has of course contributed very positively to our growth and not at least to our business concept of "Adding Quality to Yield".
Thanks to all Phosyn employees who have contributed in achieving this record result!
The 2004 result is confirming that our strategy makes sense to growers all over the world. We are well positioned to further develop our leading position in speciality plant nutrition, but let us not dwell with the success of the past - we are already well into 2005 and focus should be switched to continued demand creation and in achieving our stretched targets for 2005!
Author: Terje Knutsen, Global
Published: February 2005