K+S Group Q3 EBITDA More Than Doubles; Revises FY19 Outlook - Quick Facts
(RTTNews) - K+S Group (SDFG) reported Thursday that its third-quarter EBITDA more than doubled to 80.6 million euros from 36.4 million euros in the year-ago period.
Adjusted loss after tax for the quarter narrowed to 41.8 million euros from 60.6 million euros in the prior-year period. Loss per share narrowed to 0.22 euros from 0.32 euros in the year-ago period.
K+S Group revenues for the quarter rose 7.7 percent to 904.9 million euros from 840.1 million euros last year.
The company noted that both operating units benefited from the current euro/ U.S. dollar exchange rate level. In addition, positive price and volume effects boosted the revenues of the Europe+ operating segment in particular.
Looking ahead, K+S noted that since autumn 2019, there is a sustained weak market environment for potassium chloride. Parallel to the company's announced curtailment of the potassium chloride production of 300,000 tonnes, the company said that maintenance measures will reduce production by a further 200,000 tonnes.
For fiscal 2019, K+S now forecasts adjusted Group earnings after taxes to remain roughly stable with 85.4 million euros in 2018. The company now projects EBITDA for the full year of about 650 million euros, compared to 606 million euros in the prior year.