EANS-Adhoc: K+S Aktiengesellschaft
Significant rise in Q3 revenues and
earnings
Forecast raised for year as a whole
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
9-month report
02.11.2010
Third quarter revenues and operating earnings (EBIT I) reach EUR 1,061.2 million (+52% against the previous year) and EUR 108.5 million (+1,054% against the previous year) respectively / Therefore, K+S quarterly figures are considerably higher than the figures for the same period last year and, in some parts, significantly above consensus expectations / K+S Group´s operating earnings (EBIT I) forecast for 2010 raised from previously EUR 550-600 million to EUR 630-670 million
Today (2 November 2010), the Board of Executive Directors of K+S AG prepared the interim financial statements as of 30 September 2010. Because the K+S Group´s third quarter revenues and earnings figures are not only considerably above the corresponding figures for the previous year, but, especially in the Salt business segment, also clearly exceed the existing consensus expectations, significant key financial data for the third quarter are already being released today: Revenues reached EUR 1,061.2 million (Q3/09: EUR 698.1 million), operating earnings (EBIT I) EUR 108.5 million (Q3/09: EUR 9.4 million), and adjusted earnings after taxes, including non-cash extraordinary interest expenses for mining provisions, EUR 40.4 million or EUR 0.21 per share (Q3/09: EUR (2.1) million or EUR (0.01) per share).
Conditions on global fertilizer markets have improved continuously and significantly since the beginning of the year; salt markets in Western Europe and in North and South America prove to be stable on a high level. In the earnings forecast for the whole of 2010 issued by the Board of Executive Directors on 5 August 2010, among other things, the international prices of fertilizers at this point in time have been taken into account as usual. Since then, the business environment has undergone a further recovery and prices, especially in the case of potash, have increased so that in the course of its regular internal earnings estimates, the Board of Executive Directors now expects the K+S Group´s operating earnings (EBIT I) to reach EUR 630-670 million (previously: EUR 550-600 million).
As planned, the K+S Group will release an overall view of third quarter figures, including a detailed outlook, in its interim report on 11 November 2010.
K+S Aktiengesellschaft Kassel, 2 November 2010 The Board of Executive Directors
End of the ad hoc disclosure
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Christian Herrmann
Telefon: +49(0)561-9301-1460
E-Mail: christian.herrmann@k-plus-s.com
Branche: Chemicals
ISIN: DE0007162000
WKN: 716200
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Original content of: K+S Aktiengesellschaft, transmitted by news aktuell