Yara Integrated Report 2021 | Yara International

“Looking at our triple “bottom line” – through the lenses of people, planet, and prosperity – we can conclude that we enter 2022 strengthened, more focused, and more able.”

Svein Tore Holsether, President and CEO

Integrated Report 2021

Yara’s Integrated Report 2021 outlines our business model and strategy, describes how we create value and reflects how we manage our performance – holistically.

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People

Our people are our greatest asset. Their knowledge help to feed 289 million people.

Planet

We are meeting global challenges head on with green solutions and ambitious climate targets.

Prosperity

We target superior returns from efficient operations and new and greener revenue streams.

Governance

We ensure that success is achieved in the right way, to the highest standards.

Stategy scorecard 2021

Our Strategy scorecard shows the KPIs we use to measure the progress on the execution of our corporate strategy.

People performance

Yara KPI	Measure	2021	2025 Target
Strive towards zero accidents	TRI	1.0	<1.0
Engagement index	Index	79	Top quartile
Diversity and inclusion index	Index	77	Top quartile
Female senior managers*	%	29	40

* The definition of the KPI was updated during 2021, and the target performance was changed from 35% to 40%.

Planet performance

Yara KPI	Measure	2021	2025 Target
Energy efficiency*	GJ/t NH3	33.4	32.7
GHG emissions, intensity	t CO₂e /t N	3.0	2.7
GHG emissions, scope 1+2**	Mt CO₂e	17.5	13.0
Active hectares***	MHa	8.2	150
Carbon marketplace			tbd

* Energy efficiency target is for 2023
** GHG absolute emissions scope 1+2 target is a 30% reduction by 2030 from a 2019 baseline
*** Cropland with digital farming user activity within defined frequency parameters

Prosperity performance

Yara KPI	Measure	2021	2025 Target
Ammonia production*	Mt	7.8	8.9
Finished fertilizer production*	Mt	21.8	23.9
Premium generated	MUSD	280	N/A
Revenues from new business models	MUSD	11	1,500
Revenues from online sales	MUSD	4	1,200
Working capital**	Days	83	92
Capital return (ROIC)**	%	7.9	>10
Fixed costs**	MUSD	2,487	2,314
Capex***	BUSD	0.9	1.2
Net debt/EBITDA**	Ratio	1.36	1.5-2.0
MSCI rating	Score	A	A
Sustainalytics rating	Score	Med	Med

* Target is for 2023
** See page 255 for definitions, explanations, and reconciliations of Alternative Performance
Measures (APMs).
*** CAPEX max 1.2 for 2022 onwards (including maintenance)

Diversity, equity and inclusion illustration

The business case for diversity, equity and inclusion

The business case for diversity has never been stronger but to reap its benefits we also need equity and inclusion. In 2021, Yara’s Black Talent Initiative embarked on the road to eliminating racial discrimination and making Yara a more diverse, equitable, and inclusive workplace. Learn more in the Integrated report.

Our strategy

We are broadening our business model

Over the past two decades, Yara’s business model has developed from focusing on our asset and product base – what we have, to focusing on farmers and complete solutions – how we can contribute.

We will continue to improve our fertilizer production and competitive edge, what we have, but we are increasingly aiming to expand our reach and offerings - tapping into the opportunities emerging in our business environment, how we can contribute.