Outlook
Key facts

At a glance

Here you will find the most important financial facts about our company. These include our key financial figures, the outlook for the current business year, and the key figures for agriculture and industry business segments.

K+S key facts¹

The K+S key facts contain an overview of the financial figures for the past five years and an overview of the business figures for the last year. The figures relate to the continuing and discontinued operations of the K+S Group, unless otherwise indicated

    2020 2019 2018 2017 2016
Profit and Loss
Revenues m€ 3,698.4 4,070.7 4,039.1 3,627.0 3,456.6
Earnings before interest, taxes, depreciation, and amortization (EBITDA) 2 m€ 444.8 640.4 606.3 576.7  519.1
EBITDA-Margin % 12.0 15.7 15.0 15.9  15.0
Depreciation 3 m€ 404.9 431.9 379.1 305.9  289.8
Group earnings, adjusted 4 m€ -1,802.5 77.8 85.4 145.0  130.5
Earnings per share, adjusted 4 -9.42 0.41 0.45 0.76  0.68
Cash flow
Operating cash flow m€ 428.5 639.8 308.7 306.8  445.4
Capital expenditure 5 m€ 526.0 493.3 443.2 810.8  1,170.8
Adjusted free cash flow m€ -42.2 139.7 -206.3 -389.8  -776.8
Balance sheet
Balance sheet total m€ 8.387,4 10,592.2 9,966.2 9,754.4  9,645.5
Equity m€ 2,222.6 4,495.1 4,144.1 4,160.7  4,552.2
Equity ratio % 26.5 42.4 41.6 42.7  47.2
Net debt as of Dec. 31 6 m€ 3,217.4 3,116.6 3.241,5 2.974,1  2.401,1
Debt ratio (Net financial liabilities/EBITDA) 6 x-fold 7.2 4.9 5.3 5.2  4.6
Working capital m€ 747.4 1,037.9 1,126.7 968.1  894.6
Return on Capital Employed (ROCE) % -22.8 2.3 2.6 3.2  3.0
Employees
Employees as of Dec. 31 7 number 14,732 14,868 14,931 14,793  14,530
Average number of employees 7 number 14,758 14,693 14,904 14.654  14,446
Share
Book value per share 11.61 23.49 21.65 21.74  23.78
Dividend per share 8 0.00 0.04 0.25 0.35  0.30
Dividend yield 8 % 0.0 1.3 1.6 1.7  1.3
Closing price as of Dec. 31 XETRA,€ 7.79 11.12 15.72 20.76  22.69
Market capitalization b € 1.5 2.1 3.0 4.0  4.3
Enterprise value as of Dec. 31 b € 6.1 6.7 7.4 8.1  7.9
Average number of shares 9 million 191.40 191.40 191.40 191.40  191.40

1 The figures relate to the continuing and discontinued operations of the K+S Group, unless otherwise indicated. The balance sheet and therefore the key figures working capital, net financial debt, net financial debt / EBITDA and book value per share also include the discontinued operations of the Nitrogen business in 2011 and the discontinued operations of the Americas operating unit in 2020.
2 EBITDA is defined as earnings before interest, taxes, depreciation and amortization, adjusted by the depreciation and amortization amount not recognized in profit and loss in the context of own work capitalized, earnings arising from changes in the fair market value of outstanding operating anticipatory hedges, changes in the fair value of operating anticipatory hedges recognized in prior periods. 
3 Relates to amortization of intangible assets and depreciation of property, plant and equipment, adjusted for depreciation and amortization of own work capitalized recognized directly in equity.

4 The adjusted key figures only include the result from operating forecast hedges of the respective reporting period reported; changes in the fair market value of outstanding operating forecast hedges are eliminated. In addition, related effects on deferred and cash taxes are eliminated; tax rate for 2020: 30.1% (2019: 30.0%).
5 Relates to cash payments for investments in property, plant and equipment and intangible assets, taking claims for reimbursement from claim management into account excluding additions to leases in accordance with IFRS 16. 
6 From January 1, 2019 contains leasing obligations arising explicitly from finance lease contracts concluded. Prior-year figures are unadjusted.
7 FTE: Full-time equivalents; part-time positions are weighted in accordance with their respective share of working hours.
8  In 2019, the proposed dividend was adjusted from the previous €0.15 to the minimum dividend to maintain eligibility for funding by KfW. In 2020, the figure corresponds to the dividend proposal. 
9 Total number of shares less the average number of own shares held by K+S.

Outlook

Our outlook for 2021

Development of forecasts for the whole year: Expected earnings development, financial position and planned capital expenditure of the continuing operations of the K+S Group.

    ACTUAL 2020 Forecast in 2020 Annual Report Forecast Q1/2021 Forecast Q2/2021 Forecast Q3/2021
K+S Group   
EBITDA1 €  million 266.9

440 to 540 of which:
around 200 REKS
(one-off)

500 to 600; of which:
around 200 REKS
(one-off)
700 to 800; of which:
around 200 REKS
(one-off)
 
Capital expenditure2 €  million 427.6 unchanged unchanged unchanged  
Group earnings after taxes, adjusted3 €  million -1,920.9 strong increase,
positive figure
strong increase,
positive figure
strong increase to
a value in the mid three-digit million
range
 
Group earnings after taxes including discontinued operations, adjusted3 € million -1,920.9 strong increase to
a value in the mid
three-digit million range
strong increase to a value in the mid three-digit million range strong increase to
significantly more than
€1 billion
 
Adjusted free cash flow €  million -109.9

significantly negative,
below the level of 2020

negative, below 2020 level negative, close to the
level of 2020
 
Adjusted free cash flow including discontinues operations € million  -42.2 > € 2 billion significantly
> € 2 billion
significantly
> €2 billion
 
ROCE % -33.5 significant increase,
positive
significant increase, positive significant increase,
positive
 
Average EUR/USD spot rate EUR/USD 1.14 1.20 1.20 1.20  
Sales volumes  Customer Segment Agriculture million tonnes 7.3 > 7.5 > 7.5 > 7.5  
Average price  Customer Segment Agriculture €/t 233.1 slight increase
vs. FY 2020
moderate increase
vs. FY 2020
significant increase
vs. FY 2020
 
Sales volumes  Customer Segment Communities million tonnes 0.93 > 2.5 > 2.6 > 2.6  

1 EBITDA is defined as earnings before interest, taxes, depreciation, and amortization, adjusted for depreciation and amortization of own work capitalized recognized directly in equity, gains/losses from fair value changes arising from operating anticipatory hedges still outstanding and changes in the fair value of operating anticipatory hedges recognized in prior periods.
2 Relates to cash payments for investments in property, plant, and equipment and intangible assets, excluding leases in accordance with IFRS 16.
3 The adjusted key indicators include gains/losses on operating anticipatory hedges in the respective reporting period, which eliminates effects from fluctuations in the market value of the hedges. In addition, related effects on deferred and current taxes are eliminated; tax rate for 2020: 30.1%.

Key figures of the business segments

Key figures for the Agriculture business segment

The figures relate to the continuing operations of the K+S Group, unless otherwise indicated

We help farmers secure the world's food supply.

            FY/2019 Q1/2020 Q2/2020 Q3/2020 Q4/2020 FY/2020
Revenues million € 1,715.6 453.7 404.6 373.0 470.2 1,701.5
Sales volumes million t  6.30 1.90 1.75 1.66 1.99 7.30
Revenues by region              
  - Revenues Europe million € 874.6 263.6 195.6 176.2 196.2 831.6
  - Revenues overseas million USD 941.5 209.7 230.2 229.9 326.8 996.6
Sales by region              
  - Sales Europe million t 3.16 0.93 0.76 0.69 0.78 3.16
  - Sales overseas million t 3.14 0.97 0.99 0.97 1.21 4.13
Key figures of the business segments

Key figures for the Industry business segment

The figures relate to the continuing operations of the K+S Group, unless otherwise indicated

We offer solutions that keep industries running.

    FY/2019 Q1/2020 Q2/2020 Q3/2020 Q4/2020 FY/2020
Revenues million €  822.9 191.9 184.1 192.1 158.5 726.6
Sales volumes million t  6.52 1.30 1.28 1.42 1.34 5.34
thereof de-icing   2.16 0.21 0.24 0.25 0.24 0.94
Contact

Investor Relations

Julia Bock
K+S Aktiengesellschaft Investor Relations
Julia Bock
Head of Investor Relations
Janina Rochell
K+S Aktiengesellschaft Investor Relations
Janina Rochell
Senior Investor Relations Manager & Sustainability Expert