News Manure
Fertilizer and winter weather push sales of K+S
Fertilizer and salt producer K+S has had a good first quarter. The company presented the figures this week. Improved market conditions in the agricultural sector have boosted fertilizer sales.
The turnover of K+S increased by 13% compared to the first quarter of 2020 to €733 million. This is not only attributable to the fertilizer, by the way. Due to the cold winter weather, considerably more salt has been sold for deicing roads on roads. The group's EBITDA (gross profit) for the first quarter of 2021 is €126 million, 27% higher than last year. The K+S agricultural division saw sales rise by 6% to slightly more than 2 million tons. Turnover has thus risen slightly to €469 million.
The market prospects for potash fertilizers - K+S's main products - are good according to the company. There is more demand for potash, especially outside Europe. The prices of chlorinated potash have risen since January, especially outside Europe. This has a positive influence on the income of K+S.
Profit forecast for the whole of 2021 revised upwards
The profit forecast for 2021 has therefore been revised upwards to €500 million to €600 million. That was $440 million to $540 million. “We got off to a good start in 2021,” said Burkhard Lohr, chairman of the board of K+S, in an explanation of the figures. "We are optimistic about the further course of this year. That is why we dare to raise the profit forecast".
Jurphaas Lugtenburg
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