K+S, the independent minerals company, has started the 2019 financial year with growth.
The K+S Group has started the 2019 financial year with growth. In the first quarter of 2019, revenues rose by 8% to €1.3 billion compared to the same period last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) improved by 14% to €270 million. Meanwhile, free cash flow reached €233 million in the first quarter, up 63% year-on-year.
The sustained favorable market environment in the agriculture customer segment contributed significantly to the increase in earnings.
"We have started the new financial year with great momentum," says Dr. Burkhard Lohr, Chairman of the Board of Executive Directors of K+S Aktiengesellschaft. "Our strategic measures are taking effect and we are also on track operationally. We continue to expect a significant increase in EBITDA for 2019 compared with the previous year.”
- Revenues up by 8% to €1.3 billion (1Q18: €1.2 billion)
- EBITDA of €270 million, up 14% on last year (1Q18: €237 million)
- Free cash flow is up 63% to €233 million (1Q18: €143 million)
- Positive demand and pricing trends continue in the agriculture customer segment
- Continuous increase in production volume at the Bethune site
- Good de-icing salt business in North America
- Outlook for 2019: significant increase in EBITDA to €700 - 850 million and positive free cash flow expected
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Read the article online at: https://www.worldfertilizer.com/special-reports/15052019/ks-announces-first-quarter-results/
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