K+S Estimates
Consensus as of: 2024-04-12

Please note: All numbers are without impairment losses/reversals of impairment losses

*Industry+ = Industry, Consumer and Communities customer segments

** (Revenues-EBITDA)/(Sales volumes Agriculture+ Sales volumes Industry+)

*** This includes different instruments for shareholder distribution (2022: dividend of €1.00 per share and additional share buyback in the equivalent of around €1.00 per share)

KPI[EUR m]Q1 2023FY 2023Q1 2024 EQ2 2024 EQ3 2024 EQ4 2024 EFY 2024 EFY 2025 EFY 2026 E
RevenuesNumber of Estimates9888111110
RevenuesHighest955.3860.7917.41,030.03,684.33,911.13,969.3
RevenuesMean900.7817.4844.6925.23,488.03,583.53,658.4
RevenuesConsensus (Median)1,192.03,872.6904.3815.4849.9906.83,468.03,627.03,682.0
RevenuesLowest814.5781.0790.7871.43,323.03,391.03,369.0
EBITDANumber of Estimates9888111110
EBITDAHighest197.4149.1148.8200.5623.0786.2779.1
EBITDAMean166.7112.0113.3156.1563.6643.0677.9
EBITDAConsensus (Median)453.8712.4165.0111.6118.4153.3562.0647.0685.8
EBITDALowest137.289.867.281.2517.0523.3484.5
Earnings before operating hedges (EBIT I) without impairment effectsNumber of Estimates8777111110
Earnings before operating hedges (EBIT I) without impairment effectsHighest93.435.635.379.7160.7317.0302.8
Earnings before operating hedges (EBIT I) without impairment effectsMean51.6-2.3-7.339.192.9167.6195.0
Earnings before operating hedges (EBIT I) without impairment effectsConsensus (Median)345.9256.342.2-5.0-3.346.881.0158.4210.7
Earnings before operating hedges (EBIT I) without impairment effectsLowest27.1-26.9-46.8-32.362.962.962.0
Financial resultNumber of Estimates8777111110
Financial resultHighest20.020.020.020.080.080.040.0
Financial resultMean-0.7-0.4-1.4-2.8-3.1-6.0-15.3
Financial resultConsensus (Median)-17.8-28.0-3.5-3.7-3.7-4.0-13.4-19.2-20.9
Financial resultLowest-7.5-7.5-9.0-13.0-30.0-32.8-38.5
Earnings before income taxes, adjustedNumber of Estimates8777111110
Earnings before income taxes, adjustedHighest92.655.655.369.0195.7357.0342.8
Earnings before income taxes, adjustedMean50.9-2.7-8.736.389.7161.5179.7
Earnings before income taxes, adjustedConsensus (Median)328.1228.350.4-11.8-9.742.865.6137.0186.7
Earnings before income taxes, adjustedLowest23.8-29.4-55.9-12.348.238.652.9
Group earnings after taxes, adjusted without impairment effectsNumber of Estimates8777111110
Group earnings after taxes, adjusted without impairment effectsHighest64.838.938.749.8138.3252.4242.3
Group earnings after taxes, adjusted without impairment effectsMean35.5-1.7-6.626.563.2113.9126.9
Group earnings after taxes, adjusted without impairment effectsConsensus (Median)232.4161.935.3-8.8-8.835.546.395.9133.2
Group earnings after taxes, adjusted without impairment effectsLowest15.8-20.8-39.9-8.633.827.037.0
Average number of sharesNumber of Estimates766610109
Average number of sharesHighest179.1179.1179.1179.1179.1179.1179.1
Average number of sharesMean178.7178.7178.7178.7178.8178.8179.1
Average number of sharesConsensus (Median)191.4187.3179.1179.1179.1179.1179.1179.1179.1
Average number of sharesLowest176.4176.4176.4176.4176.4176.4179.1
EPS, adjusted (in Euro) without impairment effectsNumber of Estimates766610109
EPS, adjusted (in Euro) without impairment effectsHighest0.360.220.220.280.771.411.35
EPS, adjusted (in Euro) without impairment effectsMean0.210.00-0.030.140.360.650.72
EPS, adjusted (in Euro) without impairment effectsConsensus (Median)1.210.860.24-0.03-0.030.140.270.600.77
EPS, adjusted (in Euro) without impairment effectsLowest0.09-0.12-0.22-0.050.190.150.21
Tax rate (%)Number of Estimates8777111110
Tax rate (%)Highest38.2166.330.030.030.830.330.0
Tax rate (%)Mean30.648.726.227.729.429.629.5
Tax rate (%)Consensus (Median)29.229.129.930.029.629.930.030.029.7
Tax rate (%)Lowest27.825.46.117.124.827.828.0
Distribution to shareholders per share (in Euro)***Number of Estimates----778
Distribution to shareholders per share (in Euro)***Highest----0.200.270.50
Distribution to shareholders per share (in Euro)***Mean----0.100.110.17
Distribution to shareholders per share (in Euro)***Consensus (Median)-0.70----0.090.100.11
Distribution to shareholders per share (in Euro)***Lowest----0.000.000.00
CapExNumber of Estimates544410109
CapExHighest137.5137.5150.0183.0563.0600.2615.1
CapExMean120.3129.2141.3160.4552.0581.9585.5
CapExConsensus (Median)77.5525.3110.0129.7138.8160.6550.1586.0600.0
CapExLowest110.0120.0137.5137.5549.6554.1551.1
Free Cash Flow, adjustedNumber of Estimates4333998
Free Cash Flow, adjustedHighest132.3114.916.829.063.8120.8103.7
Free Cash Flow, adjustedMean44.930.8-21.46.821.19.915.4
Free Cash Flow, adjustedConsensus (Median)113.2311.267.914.7-5.00.029.017.026.3
Free Cash Flow, adjustedLowest-88.6-37.3-75.9-8.6-19.0-116.1-136.2
Net financial debt (+) / Net financial asset position (-)Number of Estimates3333666
Net financial debt (+) / Net financial asset position (-)Highest181647623611389
Net financial debt (+) / Net financial asset position (-)Mean-1231715-24-81016
Net financial debt (+) / Net financial asset position (-)Consensus (Median)-347-125-179-4432-12-62252
Net financial debt (+) / Net financial asset position (-)Lowest-207-68-63-62-62-78-106
Agriculture, RevenuesNumber of Estimates988810109
Agriculture, RevenuesHighest665.0598.6641.9735.02,509.32,614.42,682.2
Agriculture, RevenuesMean608.9568.8586.7632.32,387.92,445.62,515.4
Agriculture, RevenuesConsensus (Median)861.42,721.3610.5573.1590.9619.22,384.42,441.92,524.5
Agriculture, RevenuesLowest549.0525.0528.0575.22,317.22,347.02,325.0
Agriculture, Sales volume (in million tons)Number of Estimates8777998
Agriculture, Sales volume (in million tons)Highest2.001.871.932.057.617.818.05
Agriculture, Sales volume (in million tons)Mean1.851.791.851.987.487.637.78
Agriculture, Sales volume (in million tons)Consensus (Median)1.737.311.881.801.862.007.487.607.75
Agriculture, Sales volume (in million tons)Lowest1.681.701.711.867.377.507.57
Industry+*, RevenuesNumber of Estimates988810109
Industry+*, RevenuesHighest341.0282.0283.9355.81,253.31,252.81,252.3
Industry+*, RevenuesMean292.0248.6257.9292.91,086.51,105.21,108.5
Industry+*, RevenuesConsensus (Median)330.61,151.3280.0253.1272.3289.11,086.11,081.11,056.9
Industry+*, RevenuesLowest229.8206.2213.2262.9955.5984.81,021.1
Industry+*, Sales volume (in million tons)Number of Estimates7666887
Industry+*, Sales volume (in million tons)Highest1.881.501.682.027.007.147.35
Industry+*, Sales volume (in million tons)Mean1.811.441.641.956.766.887.02
Industry+*, Sales volume (in million tons)Consensus (Median)1.796.621.811.441.651.956.856.947.03
Industry+*, Sales volume (in million tons)Lowest1.681.401.611.886.056.306.49
-thereof: de-icing salt sales volume (in million tons)Number of Estimates4333666
-thereof: de-icing salt sales volume (in million tons)Highest0.620.330.450.772.172.212.25
-thereof: de-icing salt sales volume (in million tons)Mean0.590.320.440.732.062.062.06
-thereof: de-icing salt sales volume (in million tons)Consensus (Median)0.592.100.600.320.440.742.082.082.08
-thereof: de-icing salt sales volume (in million tons)Lowest0.530.320.440.681.891.851.82
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbNumber of Estimates4444443
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbHighest455.7455.7455.7455.7455.7342.5342.9
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbMean342.0351.4351.4350.1348.7328.4331.6
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbConsensus (Median)502.2396.5311.1320.0320.0319.9317.8327.6335.0
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbLowest290.0310.0310.0305.0303.8316.0317.0
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Number of Estimates8777998
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Highest333.7337.6336.5320.6327.3340.4344.8
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Mean328.3317.3316.1312.6317.3319.8323.2
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Consensus (Median)498.9372.3330.1310.5314.0311.1317.9319.3319.5
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Lowest314.5308.8308.8304.7310.0308.8301.9
Cash Unit Costs K+S Group (in Euro per ton**Number of Estimates7666887
Cash Unit Costs K+S Group (in Euro per ton**Highest210.4243.1224.1211.3217.3214.5214.7
Cash Unit Costs K+S Group (in Euro per ton**Mean197.9216.7208.2196.8203.6200.6199.0
Cash Unit Costs K+S Group (in Euro per ton**Consensus (Median)209.7226.9197.7213.6205.2192.9201.9201.6196.0
Cash Unit Costs K+S Group (in Euro per ton**Lowest182.6203.8202.2186.6196.1185.4186.0
Ø USD/EUR exchange rate, spotNumber of Estimates6666666
Ø USD/EUR exchange rate, spotHighest1.101.101.101.101.101.101.10
Ø USD/EUR exchange rate, spotMean1.081.091.091.091.081.091.09
Ø USD/EUR exchange rate, spotConsensus (Median)1.071.081.091.091.091.091.091.091.09
Ø USD/EUR exchange rate, spotLowest1.051.051.051.051.051.051.05
Disclaimer

This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.