Full-Year 2021 EBITDA and Free Cash Flow Significantly Exceed Previous Outlook

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K+S Aktiengesellschaft / Key word(s): Annual results
K+S Aktiengesellschaft: Full-Year 2021 EBITDA and Free Cash Flow Significantly Exceed Previous Guidance

04-Feb-2022 / 11:08 CET/CEST
Disclosure of privileged information according to. in Article 17 MAR of Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Based on the preliminary results of the K+S Group financial statements as of December 31, 2021, EBITDA from continuing operations amounts to approximately 960 million euros (previous outlook 2021: 830 million euros; Vara consensus: 863 million euros; both including operation REKS; the previous year: 266.9 million euros).

The improvement in the result compared to the previous outlook is mainly explained by higher average prices in the Agriculture customer segment in Q4 2021, higher sales volumes of road salt at the end of the year due to climatic conditions , as well as a – one-time cash effect of the REKS transaction. This effect now amounts to approximately 220 million euros instead of the previously expected 200 million euros. Additionally, feasibility studies now available for planned tailings heap cover procedures have resulted in reversal effects regarding mining provisions affecting earnings.

Preliminary adjusted free cash flow is expected to be around €100 million (previous outlook: slightly positive; Vara consensus estimate: €52 million; both including operation REKS; previous year: EUR -109.9 million) and the Group’s adjusted result after tax will also be positively impacted by the effects described.

The Company will publish its accounts as well as the 2021 annual report on March 10, 2022; completion is in progress.

Contact:
Investor Relations:
Julia Bock, CFA
Telephone: +49 561 9301-1009
[email protected]

04 February 2022 CET/CEST DGAP distribution services include regulatory announcements, financial/corporate news and press releases.
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