Germany’s K+S warns on 2013 outlook in wake of Uralkali move

06 August 2013 14:46  [Source: ICIS news]

LONDON (ICIS)--German fertilizer major K+S said on Tuesday that it can no longer maintain its previous 2013 outlook of a slight year-on-year increase in operating earnings.

K+S cited as the reason for this the announcement last week by Russia’s Uralkali regarding leaving the sales organisation it operates with Belarusian fertilizer firm Belaruskali, and instead expanding its own potash production while accepting price reductions.

K+S said that Uralkali’s move wiped off billions of euros in stock market valuations in the fertilizer industry within a few days and “created considerable uncertainty about future volume and price trends on the market for potash fertilizers”.

“Against this backdrop, K+S takes a cautious stance and decided today that it will no longer maintain its forecast for 2013 that a slight increase in operating earnings will be possible,” the Kassel-based company said.

K+S CEO Norbert Steiner added that, in contrast to competitors who are focused exclusively on potash, K+S has a second important operation, in its international salt business.

“In addition, K+S offers its customers a product range that is not available from any other potash producer,” Steiner said.

“That makes us more robust in the event that competition intensifies,” he added.


By: Stefan Baumgarten
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index