euro adhoc: K+S Aktiengesellschaft
other
K+S reorganises corporate structure
of the SPL Group
Non-recurrent deferred tax income recognised in profit and
loss of about EUR 35-40 million
Reduction in tax expense of the K+S Group in
2006 non-cash to
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
30.11.2006
Today, the responsible bodies resolved to merge SPL, Chile, which was acquired by K+S, with a Chilean acquisition company formed by K+S taking effect from 1 December 2006. The merger will trigger an increase in tax carrying amounts and lower future income tax payments on the part of the company in Chile as a result of the recognition of additional tax depreciation.
It will also lead to the reporting of non-recurrent deferred tax income recognised in profit and loss of about EUR 35-40 million in the K+S consolidated financial statements prepared in accordance with IFRSs. Consequently, the adjusted earnings per share forecast for 2006 will probably increase by EUR 0.85 to EUR 1.00 (hitherto forecast: EUR 4.00-4.25 per share). However, the reduction in the tax expense resulting from the appropriate accounting treatment will be non-cash to a great extent in 2006 with the cash advantage rather having an effect successively over the coming years.
The Board of Executive Directors therefore does not intend to take account of this extraordinary effect in determining its proposal for the 2006 dividend.
K+S Aktiengesellschaft Kassel, 30 November 2006 The Board of Executive Directors
end of announcement euro adhoc 30.11.2006 14:05:19
Further inquiry note:
Christian Herrmann
Tel.: +49 (0)561 9301 1460
E-Mail: christian.herrmann@k-plus-s.com
Branche: Chemicals
ISIN: DE0007162000
WKN: 716200
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
Prime All Share
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Original-Content von: K+S Aktiengesellschaft, übermittelt durch news aktuell