K+S Group Q3 Earnings Fall, Bust Sales Rise

K+S Group(SDFG), a German chemical company, on Thursday posted a fall in earnings for the third-quarter. However, the company reported a rise in revenue amidst higher prices in Europe and overseas and a rise in demand.

In addition, the company has revised its full-year EBITDA outlook.

For the quarter ended in September, Kassel-headquartered firm reported post-tax adjusted earnings of 378.7 million euros, compared with 1.278 billion euros of previous year. Last year's income was backed by a non-cash reversal of impairment losses on property, plant and equipment, and intangible assets amounting to 1.420 billion euros.

Excluding items, earnings per share were 1.98 euros per share, lesser than 6.68 euros per share a year ago.

EDBITDA rose to 633.3 million euros from 120.7 million euros of previous fiscal.

The company generated revenue of 1.469 billion euros, higher than 746.3 million euros of previous year.

Looking ahead, for the fiscal 2022, the company now expects EBITDA of 2.4 billion euros, without gas levy or shortage in the final quarter as against its previous outlook of 2.3 billion euros to 2.6 billion euros, including gas levy or gas shortage scenario.

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