K+S Estimates
Last Update: 2023-01-31

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

KPI[EUR m]Q4 2021FY 2021Q4 2022 EFY 2022 EFY 2023 EFY 2024 EFY 2025 E
RevenuesNumber of Estimates66665
RevenuesHighest1,510.95,703.05,005.04,548.14,320.6
RevenuesMean1,361.75,553.84,672.54,093.63,766.5
RevenuesConsensus (Median)1,069.33,213.11,419.05,611.14,772.94,242.33,930.3
RevenuesLowest1,041.95,234.03,911.83,118.02,868.8
EBITDA continued operations (excluding REKS)Number of Estimates66665
EBITDA continued operations (excluding REKS)Highest576.22,440.01,859.41,468.01,032.4
EBITDA continued operations (excluding REKS)Mean540.32,403.91,503.7991.7762.8
EBITDA continued operations (excluding REKS)Consensus (Median)391.8750.0534.62,398.41,492.8931.4914.2
EBITDA continued operations (excluding REKS)Lowest517.22,379.71,188.2494.5260.2
Earnings before operating hedges (EBIT I) without impairment effects (excluding REKS)Number of Estimates66665
Earnings before operating hedges (EBIT I) without impairment effects (excluding REKS)Highest513.02,050.01,443.71,049.0608.2
Earnings before operating hedges (EBIT I) without impairment effects (excluding REKS)Mean442.91,979.91,088.6566.6351.8
Earnings before operating hedges (EBIT I) without impairment effects (excluding REKS)Consensus (Median)307.4457.4439.31,976.31,028.4488.8478.9
Earnings before operating hedges (EBIT I) without impairment effects (excluding REKS)Lowest398.11,935.1914.4182.7-40.7
Financial resultNumber of Estimates66665
Financial resultHighest20.782.038.062.07.9
Financial resultMean-39.721.6-14.5-8.3-20.5
Financial resultConsensus (Median)51.87.0-19.841.5-14.6-13.6-22.2
Financial resultLowest-113.3-52.0-58.4-55.4-55.4
Earnings before income taxes, adjusted (excluding REKS)Number of Estimates66665
Earnings before income taxes, adjusted (excluding REKS)Highest482.52,080.81,451.61,057.0616.1
Earnings before income taxes, adjusted (excluding REKS)Mean403.22,001.51,074.0558.3331.2
Earnings before income taxes, adjusted (excluding REKS)Consensus (Median)359.2464.4408.02,006.31,024.7467.8473.9
Earnings before income taxes, adjusted (excluding REKS)Lowest296.51,894.8892.2160.6-62.8
Group earnings after taxes from continued operations, adjusted without impairment effects (excluding REKS)Number of Estimates66665
Group earnings after taxes from continued operations, adjusted without impairment effects (excluding REKS)Highest316.81,444.51,016.1739.9431.3
Group earnings after taxes from continued operations, adjusted without impairment effects (excluding REKS)Mean271.81,399.5757.9394.1263.8
Group earnings after taxes from continued operations, adjusted without impairment effects (excluding REKS)Consensus (Median)294.7351.0279.51,407.2741.4337.2327.0
Group earnings after taxes from continued operations, adjusted without impairment effects (excluding REKS)Lowest197.91,325.6624.6112.4-44.0
Average number of sharesNumber of Estimates77665
Average number of sharesHighest191.4191.4191.4191.4191.4
Average number of sharesMean191.4191.4191.4191.4191.4
Average number of sharesConsensus (Median)191.4191.4191.4191.4191.4191.4191.4
Average number of sharesLowest191.4191.4191.4191.4191.4
EPS from continued operations, adjusted (in Euro) without impairment effects (excluding REKS)Number of Estimates66665
EPS from continued operations, adjusted (in Euro) without impairment effects (excluding REKS)Highest1.667.555.313.872.25
EPS from continued operations, adjusted (in Euro) without impairment effects (excluding REKS)Mean1.427.313.962.061.38
EPS from continued operations, adjusted (in Euro) without impairment effects (excluding REKS)Consensus (Median)1.541.831.467.353.871.761.71
EPS from continued operations, adjusted (in Euro) without impairment effects (excluding REKS)Lowest1.036.933.260.59-0.23
Tax rate (%)Number of Estimates66665
Tax rate (%)Highest43.132.631.031.031.0
Tax rate (%)Mean32.330.129.329.38.3
Tax rate (%)Consensus (Median)18.024.432.530.030.030.030.0
Tax rate (%)Lowest23.928.325.025.0-74.6
Distribution to shareholders per share (in Euro)***Number of Estimates-7543
Distribution to shareholders per share (in Euro)***Highest-2.002.501.901.10
Distribution to shareholders per share (in Euro)***Mean-1.351.260.950.67
Distribution to shareholders per share (in Euro)***Consensus (Median)-0.20-1.501.100.750.51
Distribution to shareholders per share (in Euro)***Lowest-0.200.500.400.40
CapEx continued operationsNumber of Estimates66665
CapEx continued operationsHighest214.5455.0594.8600.0650.0
CapEx continued operationsMean172.8413.3504.8507.2502.5
CapEx continued operationsConsensus (Median)111.7334.3169.4409.9521.5519.4493.0
CapEx continued operationsLowest149.3389.8390.7374.2344.3
Free Cash Flow, adjusted continued operations (excluding REKS)Number of Estimates44554
Free Cash Flow, adjusted continued operations (excluding REKS)Highest192.91,007.0959.3831.8158.5
Free Cash Flow, adjusted continued operations (excluding REKS)Mean128.4942.5852.5169.9-107.3
Free Cash Flow, adjusted continued operations (excluding REKS)Consensus (Median)156.14.1133.7947.8820.0186.7-32.3
Free Cash Flow, adjusted continued operations (excluding REKS)Lowest53.4867.5770.0-484.0-523.0
Net financial debt (+) / Net financial asset position (-)Number of Estimates44432
Net financial debt (+) / Net financial asset position (-)Highest-16-16419328278
Net financial debt (+) / Net financial asset position (-)Mean-398-398-626-789-379
Net financial debt (+) / Net financial asset position (-)Consensus (Median)606606-464-464-910-1,222-379
Net financial debt (+) / Net financial asset position (-)Lowest-647-647-1,104-1,473-1,036
Agriculture, RevenuesNumber of Estimates66655
Agriculture, RevenuesHighest1,179.94,531.03,945.23,497.73,057.7
Agriculture, RevenuesMean1,086.54,437.63,632.22,969.92,718.5
Agriculture, RevenuesConsensus (Median)800.32,272.11,108.74,459.83,711.82,875.32,884.5
Agriculture, RevenuesLowest913.94,265.03,069.72,275.92,026.6
Agriculture, Sales volume (in million tons)Number of Estimates55444
Agriculture, Sales volume (in million tons)Highest2.047.267.717.918.11
Agriculture, Sales volume (in million tons)Mean1.887.107.537.737.86
Agriculture, Sales volume (in million tons)Consensus (Median)1.967.621.877.107.517.727.82
Agriculture, Sales volume (in million tons)Lowest1.756.977.377.567.68
Industry+*, RevenuesNumber of Estimates66655
Industry+*, RevenuesHighest339.91,180.91,185.91,213.91,262.9
Industry+*, RevenuesMean275.21,116.21,039.81,034.41,047.2
Industry+*, RevenuesConsensus (Median)269.0941.0302.31,143.31,064.4999.51,006.1
Industry+*, RevenuesLowest128.0969.0838.1838.1838.1
Industry+*, Sales volume (in million tons)Number of Estimates44444
Industry+*, Sales volume (in million tons)Highest1.936.917.057.197.33
Industry+*, Sales volume (in million tons)Mean1.866.846.756.806.85
Industry+*, Sales volume (in million tons)Consensus (Median)2.227.911.896.866.746.786.80
Industry+*, Sales volume (in million tons)Lowest1.746.726.466.466.46
-thereof: de-icing salt sales volume (in million tons)Number of Estimates22333
-thereof: de-icing salt sales volume (in million tons)Highest0.802.202.202.222.24
-thereof: de-icing salt sales volume (in million tons)Mean0.672.071.951.971.99
-thereof: de-icing salt sales volume (in million tons)Consensus (Median)0.893.180.672.071.972.012.05
-thereof: de-icing salt sales volume (in million tons)Lowest0.531.931.671.671.67
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbNumber of Estimates11211
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbHighest569.6851.5615.0437.5352.0
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbMean569.6851.5579.2437.5352.0
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbConsensus (Median)792.9543.1569.6851.5579.2437.5352.0
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbLowest569.6851.5543.4437.5352.0
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Number of Estimates55555
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Highest624.9637.7516.0442.2398.1
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Mean569.7622.5479.9386.5347.9
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Consensus (Median)408.3298.2597.0629.7478.6372.5370.9
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Lowest511.6605.3426.1305.7266.3
Cash Unit Costs K+S Group (in Euro per ton**Number of Estimates44444
Cash Unit Costs K+S Group (in Euro per ton**Highest251.2234.7264.9250.0245.0
Cash Unit Costs K+S Group (in Euro per ton**Mean214.6224.9236.8229.1227.2
Cash Unit Costs K+S Group (in Euro per ton**Consensus (Median)162.1158.6237.5230.6234.2229.5228.5
Cash Unit Costs K+S Group (in Euro per ton**Lowest132.3203.6214.0207.5206.9
Ø USD/EUR exchange rate, spotNumber of Estimates22433
Ø USD/EUR exchange rate, spotHighest1.021.081.081.171.24
Ø USD/EUR exchange rate, spotMean1.011.071.061.091.12
Ø USD/EUR exchange rate, spotConsensus (Median)1.141.181.011.071.071.081.08
Ø USD/EUR exchange rate, spotLowest1.001.061.031.031.03
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.