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EQS-Ad-hoc: K+S Aktiengesellschaft / Key word(s): Quarter Results/Forecast
EBITDA of the K+S Group in the second quarter of 2023 amounts to about EUR 24 million and, therefore, underperforms the market expectation, in particular due to price effects (Vara consensus estimate as of July 18, 2023: EUR 70.5 million median). In the second quarter, the potassium chloride selling price in the Brazilian market faced a more significant drop than previously expected. The price recovery which is currently observed has also started later than assumed. For the year as a whole, it will not be possible to compensate for the EBITDA shortfall of the second quarter. Furthermore, sales-related optimization of the product portfolio will have an impact on production volumes. In addition, as a result of the port strike in Canada, negative effects from the still ongoing normalization of supply chains cannot be ruled out. If the positive demand impetus and price trends currently observed continue in the further course of the year, it would still be possible to achieve the current market expectation for K+S Group EBITDA of about EUR 800 million at the upper end of the range (Vara consensus estimate: EUR 810 million). In case of a renewed reluctance to buy in key sales regions, however, this could lead to negative volume and price effects. In this case, EBITDA could be at the lower end of the range at about EUR 600 million. Adjusted free cash flow for the full year 2023 should reach between EUR 300 million and EUR 450 million (Vara consensus estimate assuming EUR 550 million capital expenditure: EUR 442.9 million) and will, therefore, be less burdened than EBITDA, as forecasted. The closing of accounts is still ongoing. The Company will publish the H1/2023 Half-Year Financial Report on August 10, 2023. Contact: Investor Relations: Julia Bock, CFA Phone: +49 561 9301-1009 julia.bock@k-plus-s.com End of Inside Information
26-Jul-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | K+S Aktiengesellschaft |
| Bertha-von-Suttner-Str. 7 | |
| 34131 Kassel | |
| Germany | |
| Phone: | +49 561 9301 0 |
| Fax: | +49 561 9301 2425 |
| E-mail: | investor-relations@k-plus-s.com |
| Internet: | www.k-plus-s.com |
| ISIN: | DE000KSAG888 |
| WKN: | KSAG88 |
| Indices: | MDAX |
| Listed: | Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange |
| EQS News ID: | 1689041 |
| End of Announcement | EQS News Service |
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1689041 26-Jul-2023 CET/CEST
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