Germany’s K+S Q3 adjusted earnings rise 35% on divestment gains

13 November 2012 08:03  [Source: ICIS news]

SINGAPORE (ICIS)--Germany’s K+S Group said on Tuesday that its third-quarter adjusted group earnings rose by 35% year on year to €164.9m ($209m), augmented by a €66m gain from the divestment of its nitrogen business.

However, its operating profit declined by 14% year on year to €156.7m, despite a 7% year-on-year increase in revenue, the Kassel-based specialty fertilizer company said in a statement. Total revenue for the third quarter was at €916.6m.

Third-quarter revenue increased because of exchange rate-related gains and improved volumes for its potash and magnesium products as well as in its salt and complementary business segments, K+S said.

Earnings before interest, tax, depreciation and amortisation (EBITDA) during the July-September period declined by 10% to €213.8m, the company added.

In the first nine months of this year, sales were up by 1% year on year to €3bn, with operating profit at €57.1m, it said.

The EBITDA from January to September this year was at €793.8m, down by 7% from the same period a year ago.

K+S said it expects revenue for the whole of 2012 to reach approximately “a good €3.9bn”.

($1 = €0.79)

By: Pearl Bantillo
+65 6780 4359

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