We keep you updated

K+S has agreed to acquire 75 percent of the fertilizer business of Industrial Commodities Holdings (Pty) Ltd (ICH), a South African trading company. K+S and ICH signed a corresponding agreement yesterday. The new business will operate under the name Fertiva (Pty) Ltd. The balance of 25 percent of the shares in Fertiva will be held by two former ICH shareholders, who previously managed the fertilizer business at ICH, and who will now also form part of the Fertiva management team.

The Supervisory Board of K+S Aktiengesellschaft has appointed Dr. Carin-Martina Tröltzsch as a further member of the Board of Executive Directors of the Company. She will assume her position at K+S on March 15, 2023.

The Board of Executive Directors of K+S AG has decided not to make use of the cap on electricity and gas prices as of January 1, 2023, which was approved by the German parliament. In principle, however, the Board of Executive Directors welcomes the aid measures taken by the federal government to support particularly affected companies in Germany.

K+S has completed the buy-back of the outstanding bonds maturing in 2024 (ISIN: XS1854830889) as planned. The Company is therefore reducing its financial liabilities by a further €116.4 million.

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR IN OR INTO OR TO ANY PERSON RESIDENT OR LOCATED IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.

K+S almost doubled its revenues in the third quarter to €1.47 billion. At €633 million, EBITDA more than quintupled compared to the prior-year quarter. Higher average prices in the Agriculture customer segment and for industrial products containing potash more than offset lower sales volumes in both customer segments as well as increased costs for energy, materials, and freight.

K+S is taking a major step in the strategic optimization of its existing business and the further reduction of the environmental footprint of domestic potash production. The extensive “Werra 2060” project strengthens competitiveness and extends the life of the Werra plant with increased and more stable production in the long term. It secures jobs and value creation in the region in the long term and ensures that K+S can continue to supply its customers with future-oriented products.

By storing CO2 in the soil, experts hope to combat climate change. Yet transparent measurement methods and standards are still lacking to determine the efficiency of carbon farming measures. A newly founded initiative aims to remedy this situation. With significant financial support and content-related assistance from the Landwirtschaftliche Rentenbank, K+S Aktiengesellschaft and Klim, an Agritech company, have launched a DIN standardization process for carbon storage in soil - DIN SPEC 3609. At an event on August 2, 2022, under the leadership of the German Institute for Standardization (DIN), 17 German companies, associations as well as scientific institutions agreed to the business plan for the formation of a corresponding consortium.

K+S more than doubled revenues to € 1.5 billion in the past second quarter, while EBITDA also rose strongly year-on-year to €706 million. Significantly higher average prices in both customer segments more than compensated for higher costs. In the first half of the year, revenues amounted to €2.7 billion and EBITDA to €1.2 billion.

K+S begins covering its tailings piles at the Werra potash plant in Hattorf and Wintershall. Initially, with the start of construction on the tailings pile top in Hattorf, the focus is on the plateau covers, with the side covers to follow later. In the long term, the white mountains of the Werra Valley will become green and the environment will be sustainably relieved.