K+S Q1 Profit Climbs; Continues To Expect Higher Earnings In FY22 - Quick Facts

K+S Group (SDFG), a German chemical company, reported Wednesday that its first -quarter earnings climbed to 310.9 million euros from last year's 182.2 million euros.

Earnings per share grew to 1.62 euros from 0.95 euro last year.

Adjusted Group earnings after tax was 312.7 million euros, compared to 229.3 million euros last year.

EBITDA operating earnings more than quadrupled to 524 million euros from last year's 126 million euros.

Revenues in the first quarter rose 65 percent to 1.2 billion euros from prior year's 733 million euros.

Higher average prices in both customer segments and positive currency effects more than offset lower volumes and increased costs for energy, logistics, and materials.

For the full year 2022, K+S Group continues to expect strong increase in adjusted earnings after tax, compared to last year's 525 million euros.

Further, the company now expects EBITDA to be in the range of 2.3 billion euros to 2.6 billion euros, which was raised in mid-April from its previous expectation of 1.6 billion euros to 1.9 billion euros. In 2021, EBITDA was 969 million euros.

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