August 15, 2012
Germany's K+S Q2 2012 net profit up 7.3% on year
Germany's salt and fertilisers maker K+S reported an increase in its second quarter net profit by 7.3% on year to EUR128.6 million (US$158.9 million) on the back of sales growth and confirmed its full-year guidance.
Adjusted for one-offs, the figure grew by 17.2% to EUR141.2 million (US$174 million). Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 16.4% to EUR275.8 million (US$340 million), while the EBITDA margin declined to 27.7% from 28.8%.
Revenue improved by 21.3% to EUR996.5 million (US$1.23 billion) mainly due to the strong growth in the Potash and Magnesium Products business segment. The segment is expected to continue performing well and offset the weather-related drop in operating earnings to be booked by the Salt segment, CEO Norbert Steiner said.
For the full 2012 K+S expects its adjusted profit from continuing operations to range from EUR540 million (US$665 million) to EUR600 million (US$740 million) compared with the 2011 level of EUR625.6 million (US$771 million). EBITDA is foreseen to be between EUR1.05 billion (US$1.3 billion) and EUR1.13 billion (US$1.4 billion). In 2011 it was EUR1.15 billion (US$1.4 billion). Revenue is to range from EUR3.9 billion (US$4.8 billion) to EUR4.2 billion (US$5.2 billion) compared with EUR4 billion (US$5 billion) for 2011.