Plus   Neg

K+S Group Posts Lower EBITDA, Revenue For Q1

Potash and salt miner K+S Group (SDFG) Friday reported lower EBITDA for the first quarter, as revenues slid by 14 percent due to weaker de-icing salt business in Europe and North America as well as lower prices for potash fertilizers.

The Group's EBITDA or Earnings Before Interest, Taxes, Depreciation and Amortization for the quarter declined to 201 million euros from last year's 270 million euros.

K+S Group's revenue for the first quarter decreased by 14 percent to 1.1 billion euros from 1.3 billion euros. The decline in revenue was attributed to weaker de-icing salt business in Europe and North America as a result of mild weather conditions, as well as lower prices for potash fertilizers.

Looking ahead to the full year 2020, the Group now expects EBITDA of about 520 million euros, compared to its prior guidance of 500 million - 620 million euros.

With regards to the current global corona pandemic crisis, K+S said it ensured the supply of essential products to its customers from various sectors and its production was up at almost all sites without interruption.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
Follow RTT