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K+S Aktiengesellschaft Reports Surge in Q1 2024 Financial Results, Maintains Annual Forecast

K+S Aktiengesellschaft announced that its EBITDA and adjusted free cash flow for Q1 2024 significantly exceeded market expectations. The preliminary figures reveal an EBITDA of around EUR 200 million, surpassing the median expectation of EUR 165 million. The adjusted free cash flow also exceeded estimates, reaching about EUR 111 million against a forecasted EUR 68 million.

This financial uplift was driven by robust performances in the European, specialty, and industry sectors. Particularly in the Agriculture segment, sales volumes hit 2 million tonnes with prices averaging above EUR 335 per tonne. Despite the strong quarter, K+S has decided to maintain its full-year forecast unchanged with EBITDA expected to be between EUR 500 million and EUR 650 million, and the adjusted free cash flow projected to at least break even.

Company officials noted that while a lower range EBITDA is now less likely, uncertainties with contracts in key markets like China and India persist. They also indicated that potassium chloride prices on a global scale would be crucial later in the year.

R. H.

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