{"id":19185,"date":"2020-08-17T07:00:16","date_gmt":"2020-08-17T05:00:16","guid":{"rendered":"https:\/\/blog.brand-architecture.at\/2020\/08\/17\/ks-is-slightly-behind-last-years-half-year-results\/"},"modified":"2025-12-15T12:34:22","modified_gmt":"2025-12-15T11:34:22","slug":"ks-is-slightly-behind-last-years-half-year-results","status":"publish","type":"post","link":"https:\/\/loginfo24.com\/en\/2020\/08\/17\/ks-is-slightly-behind-last-years-half-year-results\/","title":{"rendered":"K+S is Slightly Behind Last Year&#8217;s Half-Year Results"},"content":{"rendered":"<p>The raw materials company K+S, which also has a logistics division (primarily bulk), is behind last year&#8217;s half-year results. Nevertheless, the damage caused by the Corona pandemic has been contained, and a positive result has been achieved. The sale of the Americas unit is planned in conjunction with a realignment of the company.<\/p>\n<p>(Kassel) K+S achieved solid results in the second quarter despite challenging conditions. The good operational performance and high cost discipline led to a significant increase in results in the Americas operational unit. In the Europe+ operational unit, revenue and results were below last year&#8217;s figures as expected due to lower average prices for potash fertilizers. The Corona pandemic further burdened K+S&#8217;s EBITDA by an additional \u20ac10 million.<\/p>\n<ul>\n<li>Revenue: \u20ac840 million (Q2\/2019: \u20ac878 million)<\/li>\n<li>EBITDA: \u20ac88 million (Q2\/2019: \u20ac130 million)<\/li>\n<li>EBITDA for the entire year 2020 before one-time restructuring expenses remains at around \u20ac520 million (2019: \u20ac640 million); after considering this one-time expense (up to \u20ac40 million), an EBITDA of \u20ac480 million is expected<\/li>\n<li>Efficiency losses due to Corona are included in the EBITDA forecast; they are approximately compensated by effects from a comprehensive package of measures<\/li>\n<li>The expectation of an approximately balanced adjusted free cash flow for 2020 remains unchanged<\/li>\n<li>The project for a comprehensive realignment of K+S will bring savings in administrative costs of around \u20ac60 million per year<\/li>\n<li>KfW loan increases financial flexibility<\/li>\n<\/ul>\n<h5><strong>Sales Process of the Americas Operational Unit on Schedule<\/strong><\/h5>\n<p>&#8220;The process for the complete divestment of the Americas operational unit is progressing well despite the ongoing Corona pandemic. I am very confident that we will reach a sales agreement before the end of the year,&#8221; emphasizes Dr. Burkhard Lohr, CEO of K+S.<\/p>\n<h5><strong>Realignment of K+S<\/strong><\/h5>\n<p>The focus on the business with mineral fertilizers and specialties associated with the sale of the Americas operational unit is linked to a comprehensive realignment of K+S. This includes a significant restructuring of administrative functions. The Europe+ operational unit and the holding company will be shaped into a leaner and more efficient K+S. The future functional organizational structure foresees a reduction of the budget for administrative functions by 30%, or a total of around \u20ac60 million to \u20ac140 million per year starting in 2021. Furthermore, K+S is on a very good path to realize synergies in production, logistics, purchasing, sales, and marketing, aiming to achieve a target amount of more than \u20ac150 million per year starting in 2021. With the implementation of all measures, K+S aims to reduce debt by significantly more than \u20ac2 billion by the end of 2021, thereby creating the conditions for a stable crossover rating.<\/p>\n<h5><strong>Outlook 2020<\/strong><\/h5>\n<p>For the entire year 2020, K+S continues to expect an EBITDA before one-time restructuring expenses of around \u20ac520 million (2019: \u20ac640 million). After considering this one-time expense, which could amount to up to \u20ac40 million, an EBITDA of around \u20ac480 million is expected. Efficiency losses due to Corona are included in the forecast and will be approximately compensated by effects from the extensive package of measures. For the adjusted free cash flow, an approximately balanced value is expected for the entire year.<\/p>\n<h5><strong>Securing Financial Flexibility Amid the Corona Pandemic<\/strong><\/h5>\n<p>K+S has reached an agreement with the state-owned development bank KfW and other banks for a consortium credit line of \u20ac350 million. This additional tranche to the already existing consortium credit line has a term of one year plus two extension options at market conditions. K+S applied for this financial aid to have additional financial resources available if needed during the Corona pandemic. <br \/>Photo: \u00a9 K+S<br \/><a href=\"https:\/\/www.kpluss.com\" target=\"_blank\" rel=\"noopener noreferrer\">www.kpluss.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The raw materials company K+S, which also has a logistics division (primarily bulk), is behind last year&#8217;s half-year results. Nevertheless, the damage caused by the Corona<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1557,1561,1559],"tags":[],"class_list":["post-19185","post","type-post","status-publish","format-standard","hentry","category-forwarding-logistics","category-regions","category-shipping-ports"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>K+S is Slightly Behind Last Year&#039;s Half-Year Results - Loginfo24<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/loginfo24.com\/en\/2020\/08\/17\/ks-is-slightly-behind-last-years-half-year-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"K+S is Slightly Behind Last Year&#039;s Half-Year Results - Loginfo24\" \/>\n<meta property=\"og:description\" content=\"The raw materials company K+S, which also has a logistics division (primarily bulk), is behind last year&#8217;s half-year results. 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