Germany's K+S Q3 net loss narrows to €21.4m, revenue falls 10.8%

14 November 2013 06:32  [Source: ICIS news]

SINGAPORE (ICIS)--K+S Group’s third-quarter net loss narrowed slightly to €21.4m ($29m) this year from a loss of €21.7m in the same period in 2012, amid poorer prices as well as lower sales volumes at its potash and magnesium products business, the German fertilizer major said on Thursday.

The company’s revenue fell by 10.8% year on year to €817.7m in the third quarter, while its earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 17.5% to €175.6m, it said in a statement.

For the first nine months of this year, the company’s net loss narrowed to €56.8m from €60.9m in the same period last year, with sales slipping by 0.7% to €2.97bn, the company said.

Its EBITDA fell by 6.5% year on year to €739m in January-September this year, it added.

For the whole of 2013, K+S expects its revenue to be unchanged from last year’s €3.94bn.

($1 = €0.74)

By: Nurluqman Suratman

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