Germany’s K+S Q2 earnings ‘significantly above’ last year’s figures

30 July 2012 15:18  [Source: ICIS news]

LONDON (ICIS)--Germany-based potash and salt producer K+S on Monday said its second-quarter revenues and earnings before interest and taxes (EBIT) were “significantly above” adjusted figures for the same period last year.

The results also beat consensus expectations, the company added.

K+S’s EBIT in the second quarter totalled €219.8m, up 21% year on year as revenues hit €996.5m, up from €821.7m reported in the same period last year.

For 2012 as a whole, K+S confirmed its outlook, expecting revenues to be between €3.9bn-4.2bn, compared with €4.0bn reported in 2011.

“Revenues in the Potash and Magnesium Products business segment, on the basis of the currently achieved potash price level, should increase moderately and revenues in the Salt business segment are expected to decline tangibly,” the company said.

The group expects 2012 EBIT to reach a figure of between €820m-900m, compared with €906.2m last year.

“In the Potash and Magnesium Products business segment, slightly increasing (previously: stable) operating earnings are expected. In the Salt business segment, operating earnings might decline strongly in comparison to last year, which benefited from above-average volumes of de-icing salt,” the company said.

K+S will release a detailed half-year and second-quarter financial report on 14 August 2012.

($1 = €0.81)

By: Franco Capaldo
+44 (0)20 8652 3214

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