K&S AG
XMUN:SDF

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K&S AG Logo
K&S AG
XMUN:SDF
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Price: 15.05 EUR -0.79% Market Closed
Market Cap: €2.8B

K&S AG
Investor Relations

K+S AG is a German mining and industrial minerals company best known for producing potash and salt. It digs these materials out of underground mines and brine operations, then processes them into products used in farming, industry, and winter road safety. Its business is built around turning natural mineral deposits into products customers can use directly. The company sells fertilizer products to farmers and agribusinesses, plus industrial salt to chemical makers, food companies, water treatment customers, and road maintenance buyers. It also supplies de-icing salt for winter use. K+S AG makes money by selling these mined and processed materials, often through supply contracts and commodity-style sales, so its results depend on demand for essential inputs rather than consumer brands. What makes K+S AG different is that it sits at the start of the value chain: it is a raw-material supplier, not a manufacturer of finished consumer goods. Its mines, salt works, and logistics network are the core of the business, which gives it a role in two steady end markets, agriculture and salt-based industrial uses. That mix helps explain why the company can serve both farmers and a wide range of industrial customers from the same mineral base.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Aug 12, 2026
AI Summary
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.

Key Financials
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
Earnings Call Recording
Other Earnings Calls

Management

Dr. Burkhard Lohr
CEO & Chairman of the Board of Executive Directors
No Bio Available
Dr. Christian H. Meyer
CFO & Member of Board of Executive Directors
No Bio Available
Dr. Carin-Martina Troltzsch
Member of the Board of Executive Directors
No Bio Available
Ms. Christina Daske
Labor Director & Member of Board of Executive Directors
No Bio Available
Jens Christian Keuthen
Head of Legal, Tax, Regulatory Affairs & New Business Areas
No Bio Available
Ms. Frauke Riva
Head of Corporate Communications
No Bio Available
Ms. Katja Seeger
Head of Online & Project Communications
No Bio Available
Mr. Hans-Jürgen Müller
Head of Representative Office Berlin
No Bio Available
Mr. Ingo Nieke
Head of Power Plant
No Bio Available
Dirk Heinrich
Head of Production & Technology Above Ground - Borth Plant
No Bio Available

Contacts

Address
HESSEN
Kassel
Bertha-von-Suttner-Strasse 7
Contacts
+4956193010.0
www.kpluss.com