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 2022 K&S AG Earnings Call Transcript

May 11, 2022 / 08:00AM GMT

Release Date Price: €29.09 (-2.22%)

Transcript

Burkhard Lohr;S Aktiengesellschaft;CEO

K;CFO & Chairman of the Board of Executive Directors

+- -

Ladies and gentlemen, I would like to welcome you to our Q1 Teams conference. And let me directly start with the development of our business on Slide #3. After the sale of our Americas operating unit, we defined our new corporate strategy, which states potash and magnesium products are our core business. The market environment for these products is very attractive. And I would like to point out that potash prices already strongly increased during 2021. In Brazil, prices had already more than tripled to USD 800 per tonne by the end of the year. Due to uncertainties of market participants regarding the geopolitical situation and supply constraints, prices increase even further. And now please turn to Slide 4.

We want to share a closer look at our key figures with you. Our EBITDA increased from EUR 126 million to EUR 524 million in the first quarter. The positive effects of higher prices, especially in the Agriculture customer segment, more than compensated

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