K+S confirms forecast
The salt and fertilizer manufacturer K+S is reaffirming its annual targets despite the war in Ukraine and the associated uncertainties for the agricultural markets. For 2022, K+S still expects one Increase in operating profit (Ebitda) to 1.6 to 1.9 billion eurosas the Kassel-based company announced on Thursday.
“With the range mentioned, we would achieve the best result in our company’s history to date,” said CEO Burkhard Lohr. Last year, according to the final figures – also thanks to special income of around 220 million euros – an increase in earnings to 969 (2020: 267) million euros to book. Sales climbed by almost a third to 3.2 billion euros.
K+S had already published preliminary figures for the past financial year and an initial outlook at the beginning of February. The shareholders should Dividend of 20 cents per share received after it had been canceled in the previous year after a loss of billions.
The company expects a boost this year, above all, from higher fertilizer prices, which should more than compensate for rising costs – especially for energy, logistics and materials. The overall economic effects of the war in Ukraine are not yet foreseeable, it said.
However, K+S is observing the development, especially with regard to energy supply and the sanctions. The company is the world’s fourth largest supplier of potash, one of the main nutrients for plants. The largest supplier is the North American consortium of the groups Nutrien and Mosaic, followed by the Russian Uralkali and Belaruskali from Belarus.