Higher Prices Drive K+S Profit Up - K+S reports 1.5% revenue growth as fertilizer and salt demand climbs
German fertilizer and salt producer K+S has announced a 1.5% year-on-year revenue increase to €879 million in the third quarter. The company also narrowed its full-year profit forecast to between €570 million and €630 million.
The positive results can be attributed to several factors. K+S's earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by roughly two-thirds to €111 million. This was driven by strong sales of de-icing salt and modest price increases in both Europe and overseas markets for agricultural fertilizers.
Prices for specialty products remain high and have been partially raised further. The company's CEO, Christian Meyer, has overseen this revenue growth and the future investment projects, including the Bethune plant expansion in Canada and Werra 2060.
The final full-year profit figure will depend on potash fertilizer production, gas prices, and weather conditions. Despite increased investments, K+S anticipates a slightly positive adjusted free cash flow.