Yara posts higher Q4 2025 earnings as cost cuts lift margins

Yara International reported stronger earnings for the fourth quarter and full year 2025, supported by higher nitrogen margins, increased volumes and lower fixed costs.

Earnings before interest, taxes, depreciation and amortization (EBITDA), excluding special items, rose to $709 million in the fourth quarter, up from $519 million in the same period a year earlier. Net income totaled $344 million, compared with a loss of $290 million in the fourth quarter of 2024.

The company said it has delivered more than $200 million in fixed cost reductions since the second quarter of 2024. For the full year, performance was supported by higher deliveries and production as well as execution of previously announced cost and capital expenditure reductions.

Yara’s board proposed an annual dividend of approximately $2 per share, equivalent to NOK 22 per share at current exchange rates.

At its Capital Markets Day in January 2026, Yara outlined the next phase of its improvement program, targeting an additional $200 million in EBITDA improvement by the end of 2027 and a further $150 million by the end of 2030. The company said these gains would be driven by enhanced asset utilization, logistics optimization, targeted market opportunities and disciplined capital allocation.

Yara also emphasized efforts to diversify energy exposure and mitigate rising carbon costs to strengthen long-term resilience and returns. The company is continuing to mature its ammonia projects with Air Products, with a final investment decision expected in mid-2026.

Chief executive Svein Tore Holsether said the company’s flexible operating model positions it to manage geopolitical and regulatory uncertainty, adding that Yara would maintain strict capital prioritization to support cash flow growth and shareholder returns through the cycle.