K+S Estimates
Consensus as of: 2024-01-31

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 (2022: dividend of €1.00 per share and additional share buyback in the equivalent of around €1.00 per share)

KPI[EUR m]Q4 2022FY 2022Q4 2023 EFY 2023 EFY 2024 EFY 2025 EFY 2026 E
RevenuesNumber of Estimates99886
RevenuesHighest1,104.84,003.43,812.84,052.74,149.8
RevenuesMean935.73,834.33,566.33,696.53,726.7
RevenuesConsensus (Median)1,484.55,676.6954.43,853.03,565.03,713.33,744.3
RevenuesLowest648.03,546.63,261.43,298.23,384.4
EBITDANumber of Estimates99886
EBITDAHighest156.2706.5904.41,053.7824.0
EBITDAMean140.7691.0600.0668.1692.3
EBITDAConsensus (Median)559.22,422.9145.1695.1556.6632.9719.7
EBITDALowest115.1665.4495.8513.8493.9
Earnings before operating hedges (EBIT I) without impairment effectsNumber of Estimates99886
Earnings before operating hedges (EBIT I) without impairment effectsHighest56.2281.0484.4613.7364.2
Earnings before operating hedges (EBIT I) without impairment effectsMean22.5247.3153.5216.5238.9
Earnings before operating hedges (EBIT I) without impairment effectsConsensus (Median)434.21,979.120.4245.195.1177.1259.3
Earnings before operating hedges (EBIT I) without impairment effectsLowest-5.9218.849.937.186.1
Financial resultNumber of Estimates99886
Financial resultHighest20.011.656.560.85.0
Financial resultMean-8.4-16.8-5.5-6.2-17.3
Financial resultConsensus (Median)73.8135.10.0-8.5-12.6-15.6-19.0
Financial resultLowest-61.5-70.0-33.7-33.7-33.7
Earnings before income taxes, adjustedNumber of Estimates99886
Earnings before income taxes, adjustedHighest65.4281.7541.0674.5350.0
Earnings before income taxes, adjustedMean14.2230.4148.0210.4221.6
Earnings before income taxes, adjustedConsensus (Median)771.72,134.717.8234.081.8171.7243.7
Earnings before income taxes, adjustedLowest-67.4148.833.516.752.4
Group earnings after taxes, adjusted without impairment effectsNumber of Estimates99886
Group earnings after taxes, adjusted without impairment effectsHighest52.3204.6405.7499.1245.0
Group earnings after taxes, adjusted without impairment effectsMean8.3161.2107.6151.1155.7
Group earnings after taxes, adjusted without impairment effectsConsensus (Median)366.31,494.010.6163.859.2120.8172.4
Group earnings after taxes, adjusted without impairment effectsLowest-46.8106.423.412.036.7
Average number of sharesNumber of Estimates78886
Average number of sharesHighest187.3189.7185.3185.3181.9
Average number of sharesMean103.1187.3180.1180.8179.4
Average number of sharesConsensus (Median)191.4191.4182.0187.1179.1179.1179.1
Average number of sharesLowest-379.7185.5178.1178.1178.1
EPS, adjusted (in Euro) without impairment effectsNumber of Estimates78886
EPS, adjusted (in Euro) without impairment effectsHighest0.291.102.272.701.35
EPS, adjusted (in Euro) without impairment effectsMean0.060.840.600.830.87
EPS, adjusted (in Euro) without impairment effectsConsensus (Median)1.927.810.060.850.320.670.96
EPS, adjusted (in Euro) without impairment effectsLowest-0.060.560.130.060.20
Tax rate (%)Number of Estimates99886
Tax rate (%)Highest139.634.930.030.030.0
Tax rate (%)Mean45.029.428.729.029.7
Tax rate (%)Consensus (Median)52.530.030.028.629.729.830.0
Tax rate (%)Lowest15.622.925.026.028.6
Distribution to shareholders per share (in Euro)***Number of Estimates-8875
Distribution to shareholders per share (in Euro)***Highest-0.701.001.300.50
Distribution to shareholders per share (in Euro)***Mean-0.620.320.380.32
Distribution to shareholders per share (in Euro)***Consensus (Median)-2.00-0.630.200.250.30
Distribution to shareholders per share (in Euro)***Lowest-0.500.080.030.10
CapExNumber of Estimates99886
CapExHighest229.6577.0624.9650.0670.0
CapExMean200.3547.7567.5569.8567.6
CapExConsensus (Median)163.3403.8202.6550.0579.0585.5610.2
CapExLowest177.4524.8440.0457.0328.8
Free Cash Flow, adjustedNumber of Estimates88886
Free Cash Flow, adjustedHighest118.0446.2402.9359.8259.5
Free Cash Flow, adjustedMean18.5346.771.729.237.6
Free Cash Flow, adjustedConsensus (Median)117.9932.03.0331.227.516.532.4
Free Cash Flow, adjustedLowest-31.4296.8-48.0-165.7-168.2
Net financial debt (+) / Net financial asset position (-)Number of Estimates47765
Net financial debt (+) / Net financial asset position (-)Highest-138-138-157457
Net financial debt (+) / Net financial asset position (-)Mean-348-276-280-147-166
Net financial debt (+) / Net financial asset position (-)Consensus (Median)-245-245-362-195-185-147-171
Net financial debt (+) / Net financial asset position (-)Lowest-531-531-872-391-385
Agriculture, RevenuesNumber of Estimates77776
Agriculture, RevenuesHighest678.52,717.62,786.63,046.32,927.0
Agriculture, RevenuesMean650.32,689.42,515.42,634.22,642.9
Agriculture, RevenuesConsensus (Median)1,114.64,465.6662.32,701.42,513.12,613.22,666.3
Agriculture, RevenuesLowest600.02,639.02,343.62,339.62,329.2
Agriculture, Sales volume (in million tons)Number of Estimates77776
Agriculture, Sales volume (in million tons)Highest2.007.277.647.848.14
Agriculture, Sales volume (in million tons)Mean1.957.227.437.617.79
Agriculture, Sales volume (in million tons)Consensus (Median)1.897.111.957.227.407.577.70
Agriculture, Sales volume (in million tons)Lowest1.907.177.287.467.57
Industry+*, RevenuesNumber of Estimates77776
Industry+*, RevenuesHighest426.41,285.81,293.21,292.71,292.2
Industry+*, RevenuesMean323.91,183.31,070.21,083.01,083.8
Industry+*, RevenuesConsensus (Median)369.91,211.0318.81,178.21,122.51,055.21,063.8
Industry+*, RevenuesLowest235.91,095.3810.2847.4852.3
Industry+*, Sales volume (in million tons)Number of Estimates66665
Industry+*, Sales volume (in million tons)Highest2.226.957.257.407.41
Industry+*, Sales volume (in million tons)Mean1.916.646.917.037.06
Industry+*, Sales volume (in million tons)Consensus (Median)1.876.831.896.626.947.066.95
Industry+*, Sales volume (in million tons)Lowest1.736.466.656.686.68
-thereof: de-icing salt sales volume (in million tons)Number of Estimates55444
-thereof: de-icing salt sales volume (in million tons)Highest0.852.202.202.202.21
-thereof: de-icing salt sales volume (in million tons)Mean0.692.042.092.112.13
-thereof: de-icing salt sales volume (in million tons)Consensus (Median)0.682.080.682.032.082.112.15
-thereof: de-icing salt sales volume (in million tons)Lowest0.601.952.002.032.03
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbNumber of Estimates-2332
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbHighest-356.0455.7354.0350.0
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbMean-355.0370.9346.3342.5
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbConsensus (Median)580.4862.3-355.0347.0350.0342.5
MOP gran spot price (Brazil - cfr -US$), historic figures = fmbLowest-354.0310.0335.0335.0
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Number of Estimates77776
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Highest351.6377.4382.8405.1381.6
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Mean333.5372.5338.9346.4339.1
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Consensus (Median)592.2628.1332.0371.8335.1342.9338.4
Ø price of the K+S Agriculture Product Portfolio (in Euro per ton)Lowest315.8368.1318.9312.6305.6
Cash Unit Costs K+S Group (in Euro per ton**Number of Estimates66665
Cash Unit Costs K+S Group (in Euro per ton**Highest238.5235.9221.7230.7230.6
Cash Unit Costs K+S Group (in Euro per ton**Mean218.2230.2211.5211.2208.4
Cash Unit Costs K+S Group (in Euro per ton**Consensus (Median)246.1233.4215.4229.6214.1208.2200.8
Cash Unit Costs K+S Group (in Euro per ton**Lowest200.7225.4197.1199.1193.4
Ø USD/EUR exchange rate, spotNumber of Estimates34555
Ø USD/EUR exchange rate, spotHighest1.081.101.101.101.10
Ø USD/EUR exchange rate, spotMean1.071.081.091.091.09
Ø USD/EUR exchange rate, spotConsensus (Median)1.021.071.081.081.101.101.10
Ø USD/EUR exchange rate, spotLowest1.051.051.051.051.05
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.