DGAP-Adhoc K+S Aktiengesellschaft: Impairment - K+S Cleans Up Balance Sheet

Nachrichtenquelle: EQS Group AG
04.11.2020, 13:44  |  124   |   |   

DGAP-Ad-hoc: K+S Aktiengesellschaft / Key word(s): Miscellaneous
K+S Aktiengesellschaft: Impairment - K+S Cleans Up Balance Sheet

04-Nov-2020 / 13:44 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


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
d.neumann@k-plus-s.com

04-Nov-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


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: investor-relations@k-plus-s.com
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

1145452  04-Nov-2020 CET/CEST

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DGAP-Adhoc K+S Aktiengesellschaft: Impairment - K+S Cleans Up Balance Sheet DGAP-Ad-hoc: K+S Aktiengesellschaft / Key word(s): Miscellaneous K+S Aktiengesellschaft: Impairment - K+S Cleans Up Balance Sheet 04-Nov-2020 / 13:44 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No …

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