K+S confirms 2018 forecast despite quarter-two loss

摘要

K+S (Kassel, Germany) reports a loss of €31.9 million ($36.3 million) in the second quarter. The company had reported a €38.3-million profit a year earlier. K+S nevertheless has confirmed its 2018 forecast. EBITDA for the second quarter grew 3.1% year on year (YOY) to €105.1 million on revenue 9.4% higher at €811.9 million. In March this year, K+S said it expects group revenues to be 'tangibly higher' than in 2017 when they reached €3.62 billion. Similarly, the company expects EBITDA to be significantly higher that the €576.7 million reported last year. EBITDA was below analysts' consensus estimate provided by Vara Research (Frankfurt, Germany).