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

Q1 2021 K&S AG Earnings Call Transcript

May 11, 2021 / 08:00AM GMT

Release Date Price: €10.4 (-1.79%)

Transcript

Operator

Welcome to the K+S conference call regarding the publication of the quarterly report Q1 '21, hosted by Dr. Burkhard Lohr, CEO; and Thorsten Boeckers. (Operator Instructions) Please note on Page 2 of the presentation, you will find a disclaimer.

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

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

K;CEO & Labor Relations Director

+- -

Thank you, operator. Ladies and gentlemen, welcome to our Q1 call. Before we start with the Q1 results, I would like to comment on our latest achievements. Contrary to the expectations of some observers, we completed the sale of our North and South American salt business to Stone Canyon Industries on April 30. K+S has implemented the most decisive component of the picket of measures announced in December 2019.

This is an important milestone in the planned reduction of debt. The net proceeds of around EUR 2.6 billion will be entirely used to reduce

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