DGAP-Adhoc: K+S Aktiengesellschaft: Impairment - K+S Cleans Up Balance Sheet
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DGAP-Ad-hoc: K+S Aktiengesellschaft / Key word(s): Miscellaneous
The K+S Board of Executive Directors has adjusted its long-term assumptions against the background of the realignment of the Company and the sale of the Americas operating unit. This mainly concerns the long-term potash price assumption as well as a higher cost of capital rate. Based on the current potash price level, K+S expects prices to continue to rise in the short and medium term. However, the assumption regarding the long-term price trend is now lower than previously assumed. Overall, this results in a one-off, non-cash impairment loss on assets in the Europe+ operating unit of about € 2 billion. This special impairment will be made for the third quarter of 2020 and will have a corresponding negative impact on adjusted net income after taxes and ROCE, but will not lead to a liquidity outflow.
Based on the operating performance in the third quarter, the outlook for EBITDA in 2020 of about €480 million after one-time restructuring expenses is confirmed. The detailed figures for the third quarter of 2020 will be published on November 12, 2020. More information on the impairment and the outlook of K+S is available at www.kpluss.com. Contact: Investor Relations: Dirk Neumann Phone: +49 561 9301-1460 [email protected]
04-Nov-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | K+S Aktiengesellschaft |
| Bertha-von-Suttner-Str. 7 | |
| 34131 Kassel | |
| Germany | |
| Phone: | +49 561 9301 0 |
| Fax: | +49 561 9301 2425 |
| E-mail: | [email protected] |
| Internet: | www.k-plus-s.com |
| ISIN: | DE000KSAG888 |
| WKN: | KSAG88 |
| Indices: | MDAX |
| Listed: | Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange |
| EQS News ID: | 1145452 |
| End of Announcement | DGAP News Service |
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1145452 04-Nov-2020 CET/CEST
K+S AG Stock
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