K+S AG (MIL:1SDF)

€ 10.37 -0.185 (-1.75%) Market Cap: 1.86 Bil Enterprise Value: 1.17 Bil PE Ratio: 75.39 PB Ratio: 0.30 GF Score: 72/100

Q3 2020 K&S AG Earnings Call Transcript

Nov 12, 2020 / 09:00AM GMT

Release Date Price: €6.08 (+0.30%)

Transcript

Operator

Welcome to the K+S conference call regarding the publication of the quarterly report Q3 '20, hosted by Dr. Burkhard Lohr, CEO. (Operator Instructions) Please note, on Page 2 of the presentation, you will find the disclaimer.

I am now handing the call over to Dr. Burkhard Lohr to begin. Please go ahead.

Burkhard Lohr;S Aktiengesellschaft;Chairman of the Board of Executive Directors

K;CEO & Labor Relations Director

+- -

Thank you very much. Ladies and gentlemen, welcome to our Q3 call, and let's start right away with Slide #3. Despite difficult market conditions, Q3 was another decent quarter. Due to lower potash prices in agriculture, we lost a good EUR 50 million compared to the previous year. We were able to partially compensate this decline by showing the strong operational performance of our plants, to which Bethune, in particular, made a significant contribution. In addition, we had strong cost discipline and did our utmost to make optimal use of our logistics network. As in the first and second quarter,

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