Ergebniskonferenzen

Letzter Earnings Call

Geschäftsperiode
Q2 2026
Datum des Calls
12. Aug 2026
KI-Zusammenfassung
Q2 2026

EBITDA beat: Q2 EBITDA came in at about EUR 176 million, well above last year, helped by higher average selling prices, higher volumes and tight cost control.

Guidance raised: Full-year 2026 EBITDA guidance was lifted to EUR 680 million to EUR 760 million from EUR 630 million to EUR 730 million, and free cash flow guidance was raised to mid- to higher double-digit million euros from at least breakeven.

Operations helped: Management said Q2 benefited from a timing shift because part of the usual Bethune maintenance work moved into Q3 this year, making the quarter look stronger than it otherwise would have been.

Demand tone: Brazil demand was described as healthy, Europe potash demand was expected to stay intact despite drought, and deicing inventories were said to be low with most catch-up buying already done in Q2.

Cost risks managed: The company said it is well hedged on gas, sees limited near-term exposure from current prices, and is monitoring low water levels at Werra but does not expect a saline-water impact.

Pricing mix: K+S continues to shift production toward the best netback product mix week by week, balancing MOP, SOP and kieserite, while sulfur-linked pricing remained supportive.

Wichtige Finanzkennzahlen
EBITDA
about EUR 176 million
Free cash flow
EUR 40 million
Potash prices
stable on average during H2 assumed in guidance
Gas price assumption
USD 45 per megawatt-hour
Open gas exposure
30%
CO2 certificate cost
EUR 30 million per year
Tax rate
roughly 30%
Trading revenues
EUR 46 million
Europe gas hedge for 2027
50% hedged
Canada gas hedge for 2027
88% hedged
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