K+S Q3 operating profit soars to €108.5m, revenues rise 52%

02 November 2010 18:25  [Source: ICIS news]

TORONTO (ICIS)--K+S reported third-quarter operating earnings before interest and tax (EBIT) of €108.5m ($150.7m), up sharply from €9.4m in the 2009 third quarter as revenues rose 52%, the German fertilizer major said in an interim results release on Tuesday.

Revenues for the three months ended 30 September reached €1.06bn, compared with €698m in the 2009 third quarter, the Kassel-based company said.

“Conditions on global fertilizer markets have improved continuously and significantly since the beginning of the year; salt markets in western Europe and in North and South America prove to be stable on a high level,” it said in a statement.

K+S, which is due to issue official third-quarter results on 11 November, also raised its full-year 2010 EBIT guidance to €630-670m, up from earlier guidance of €550-600m.

K+S added that since its previous earnings forecast on 5 August, the business environment had undergone further recovery and fertilizer prices, especially potash prices, had increased. 

($1 = €0.72)

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By: Stefan Baumgarten
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