logo
Plus   Neg
Share
Email

K+S FY16 Adj. Profit Declines, Revenues Down Approx. 17% - Quick Facts

K+S Group (SDFG) reported Group earnings, adjusted, of 130.5 million euros or 0.68 euros per share in fiscal 2016 compared to 542.3 million euros or 2.83 euros per share, prior year. The operating earnings (EBIT I) decreased significantly to 229 million euros from 782 million euros.

In the 2016 fiscal year, revenues decreased by approximately 17 percent to 3.5 billion euros from 4.2 billion euros, prior year. The company said the decrease in revenue was mainly due to a lower average price level in the Potash and Magnesium Products business unit and the severe production limitations at the Werra potash plant.

The Board of Executive Directors and Supervisory Board of K+S Group intend to propose a dividend of 0.30 euros per share at the AGM on May 10, 2017, which corresponds to a pay-out ratio of 44 percent.

Looking forward, the Group expects revenues, operating earnings EBITDA and EBIT I to increase tangibly in fiscal 2017 as compared to the previous year's values. However, K+S noted that possible production limitations during longer low-water periods in the Werra may lead to significant deviations from this assessment.

K+S remains optimistic to achieve its Group EBITDA target of around 1.6 billion euros in 2020. The 'Salt 2020' strategy is on track to reach operating earnings (EBIT I) to more than 250 million euros by 2020, and EBITDA of over 400 million euros, assuming a normal winter.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Member of Congress have reportedly been told President Donald Trump's administration has reached an agreement to put Chinese telecom giant ZTE Corp. back in business. Reports from the New York Times and Reuters said the deal brokered by the Commerce Department would require ZTE to pay a substantial... Delta Air Lines will resume non-stop flights between the U.S. and India next year, almost a decade after it exited the Indian market. The airline said Thursday that its decision to resume non-stop flights from the U.S. to India follows agreements between the U.S. and the governments of the United Arab Emirates and Qatar to address the issue of government subsidies provided to state-owned carriers. Mortgage rates continued their upward trend this week and hit a seven-year high, even as housing demand remained robust. According to data released Thursday by mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage rose to 4.66 percent in the week ending May 24, from 4.61 percent in the prior week and 3.95 percent a year ago. This is also the highest level since May 5, 2011.
Follow RTT