14 March 2013 07:32 [Source: ICIS news]
SINGAPORE (ICIS)--Germany’s K+S Group reported on Thursday a 12% year-on-year drop in its fourth quarter adjusted group earnings from continued operations to €131.6m ($171m), weighed by lower revenues and earnings.
The company’s revenues fell by 7.8% year on year to €941.6m in the fourth quarter of last year, while earnings before interest, tax, depreciation and amortisation (EBITDA) was down by 13% at €243.9m, the company said in a statement.
For the full-year of 2012, the company’s adjusted group earnings from continued operations fell by 14% year on year to €540.8m, while revenues were down by 1.5% at €3.94bn.
Its EBITDA in 2012 fell by 9.5% year on year to €1.04bn.
“All in all, we expect the K+S Group to achieve a slight increase in revenues and operating earnings,” said Norbert Steiner, K+S’s chairman of the board of executive directors.
“For 2014, we also see opportunities for a slight increase in revenues and earnings in comparison to 2013," Steiner added.
($1 = €0.77)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections