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K+S Group Q1 Profit Rises, Revenue Up 8%; Confirms 2019 Outlook - Quick Facts

K+S Group (SDFG) said it has started the new fiscal year with great momentum as the favorable market environment in the Agriculture customer segment contributed significantly to the increase in earnings for the first quarter. The company continues to expect a significant increase in EBITDA for fiscal 2019.

For the first-quarter of 2019, the company reported earnings of 109.0 million euros compared to 76.4 million euros, prior year. Earnings per share was 0.57 euros compared to 0.40 euros. EBITDA improved by 14% to 270 million euros. Adjusted Group earnings after taxes improved by 29% to 108 million euros from 84 million euros, resulting in earnings per share of 0.56 euros compared to 0.44 euros.

For the first-quarter, revenues were 1.26 billion euros compared to 1.17 billion euros, prior year. The company said, higher prices especially in the Agriculture segment increased revenues in the operating unit Europe.

For the first-quarter, free cash flow was 233 million euros, up 63% year-on-year. K+S plans to achieve a positive free cash flow in the current fiscal year.

K+S still expects 2019 EBITDA to be significantly higher than previous year's figure, in a range between 700 million euros and 850 million euros.

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