K+S Reports Adj. Profit From Cont. Ops In Q2, Revenues Up About 13%; Raises Forecast

K+S (SDFG) said the company more than doubled its operating earnings in its second-quarter due to higher prices and increased sales volumes for fertilizers and strong business in the Industry+ customer segment. In the remainder of the year, the company expects a continued positive development in the fertilizer business and in industrial products, and so increased its earnings guidance.

Second-quarter EBITDA was 112 million euros compared to 53 million euros, last year. Adjusted profit after taxes from continuing operations was 157.5 million euros compared to a loss of 27.2 million euros. Adjusted profit per share from continuing operations was 0.82 euros compared to a loss of 0.14 euros.

Second-quarter revenues increased to 664 million euros from 590 million euros, last year.

For 2021, K+S now expects EBITDA from continuing operations in a range of 700 million euros to 800 million euros, revised from prior guidance of 500 million euros to 600 million euros. Adjusted Group earnings after taxes from continuing operations are expected to rise sharply to a figure in the mid three-digit million range, revised from prior guidance of sharp increase to a positive figure.

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