K+S Raises FY Operating EBITDA Outlook

K+S AG said it raised its outlook for operating EBITDA for the full year 2021 to around 630 million euros once again from the prior outlook of 500 million euros to 600 million euros, excluding REKS one-off gain of about 200 million euros. This is mainly attributable to the further improvement in expectations for the development of average prices in the Agriculture customer segment in 2021 as a whole.

K+S now expects free cash flow in 2021 to break even compared to the prior outlook of negative 180 million euors, excluding REKS cash inflow.

After the EU Commission referred the antitrust clearance procedure to the Federal Cartel Office, the review of the REKS transaction is still ongoing.

K+S continues to expect that a release can be granted, but that it will maybe not take place in 2021 as previously assumed. Against this background, K+S only includes the operating business in the outlook for 2021.

The company will publish its third-quarter financial results and full-year outlook for 2021 on November 11, 2021.

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