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K+S releases 1Q18 results

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World Fertilizer,

K+S has released its results for 1Q18, reporting an increase in revenues by 4% up to €1.17 billion.

In addition to this, the company claims its EBITDA has increased by over 12%, reaching €237 million. Furthermore, the company reports that: adjusted free cash flow was significantly higher and the net debt/EBITDA ratio reduced further; implementation of the new ‘Shaping 2030’ group strategy is proceeding according to plan; and a significant increase in EBITDA is expected.

The company claims that its increased EBITDA was helped especially by deliveries from the new potash mine in Bethune, Canada, as well as by higher market prices for potassium chloride.

The CEO of K+S, Burkhard Lohr, said: “All in all, we witnessed a solid quarter. We remain confident for the remainder of the year. Operating earnings are expected to increase significantly compared with the previous year.”

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