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Letter of Intent with Cinis Fertilizer
K+S intends to gain access to potassium sulfate in Scandinavia
K+S has signed a letter of intent with the Swedish company Cinis Fertilizer on future cooperation in the synthetic production of potassium sulfate (SOP). Under the planned agreement, K+S intends to supply Cinis Fertilizer with its entire potassium chloride (MOP) requirements. In return, K+S could purchase up to 600,000 tonnes of potassium sulfate (SOP) per year from Cinis.
Successful start to the new financial year
K+S made a very good start to the current year. Revenues in the first quarter rose by 65% to €1.2 billion compared with the same period last year. EBITDA operating earnings more than quadrupled to €524 million. Higher average prices in both customer segments and positive currency effects more than offset lower volumes and increased costs for energy, logistics, and materials.
Project for the treatment of saline water
K+S participates in water recovery project
The fertilizer and mining company K+S, based in Kassel (Germany), considers itself a pioneer of environmentally friendly mining. The company is now also participating in a joint project to test a new process for treating saline water and recovering dissolved minerals.
Ad hoc disclosure
K+S increases EBITDA forecast for financial year 2022
K+S AG is raising its forecast for the expected EBITDA of the K+S Group for the current year to € 2.3 billion to € 2.6 billion (previously: € 1.6 billion to € 1.9 billion; previous year: € 969 million). The increase in the forecast is mainly based on further higher average prices in the Agriculture customer segment.
Very successful 2021 financial year
Significant increase in earnings
K+S once again achieved an excellent production performance at all potash and salt sites during the past financial year. The Company's own good performance was additionally supported by the very positive market trend over the course of the year.
Solidarity with Ukraine
K+S donates €500,000 for humanitarian aid
K+S has provided half a million euros in emergency aid to support the civilian population in need as a result of the war in Ukraine. This sum will be donated to "Aktion Deutschland Hilft".
Change in the Board of Executive Directors
The Supervisory Board of K+S Aktiengesellschaft has mutually agreed with Thorsten Boeckers (46), Chief Financial Officer, to terminate Mr. Boeckers' service agreement at the end of February this year.
Out-of-court settlement with BUND
K+S continues work on tailings pile expansion
Yesterday, the BUND (“Federation for the Environment and Nature Conservation”) regional association in Hesse and K+S reached an out-of-court settlement in the legal dispute concerning the premature start of the tailings pile expansion at the Hattorf site (Werra plant). The Company has therefore meanwhile resumed the preparations for the tailings pile expansion, which were initially interrupted voluntarily.
Ad hoc disclosure
K+S Aktiengesellschaft: Strong increase in EBITDA and Free Cash Flow expected in the 2022 financial year
The K+S Group expects EBITDA for the 2022 financial year to range between EUR 1.6 billion and EUR 1.9 billion (2021: preliminary around EUR 960 million, including approximately EUR 220 million one-off effect from the REKS transaction). This forecast significantly exceeds the current market expectation (Vara 2022 consensus: EUR 1.269 billion). K+S will therefore more than double EBITDA compared to the figure of the previous year (adjusted for the effect from the REKS transaction).
Ad hoc disclosure
K+S Aktiengesellschaft: EBITDA and free cash flow for full year 2021 significantly exceed previous outlook
Based on preliminary earnings figures for the K+S Group financial statements as of December 31, 2021, EBITDA of continuing operations amounts to approximately EUR 960 million (previous outlook 2021: EUR 830 million; Vara consensus: EUR 863 million; both including REKS transaction; previous year: EUR 266.9 million).