K&S AG (SDFGn.DE)
Latest Key Developments (Source: Significant Developments)
K+S says so far this quarter potash production down more than 400,000 tonnes due to environmental regulation
K + S AG:Issues Schuldschein worth 600 million euros.Proceeds from the issue to increase financial flexibility, for instance to reduce drawings against the existing credit line. Full Article
K + S AG:K+S said that limits imposed by local authorities on salt waste water disposal are forcing it to temporarily suspend production at two mines. - RTRS.Potash production at the Hattorf and Unterbreizbach sites will be temporarily suspended from Friday, April 1, it said in a statement on Tuesday.The company said when production could be resumed would depend on the weather. A regional environmental regulator last year gave only provisional approval for the disposal of waste water via deep-well injection into porous layers of rock and imposed strict limits.K+S has since then relied on discharge into the river Werra, which in turn is governed by the river's water levels to control its salt content.K+S reiterated on Tuesday it expects the limits on deep-well injection to be lifted as part of final approval for deep-well injection until 2021 which it hopes to receive by summer of this year. Full Article
K + S AG:Prudent outlook for 2016 despite tentative signs of recovery: significant decline in earnings expected.Group revenues in the 2016 financial year should therefore decrease moderately year over year, while operating earnings EBITDA and EBIT I are expected to be significantly lower.2016 adjusted group earnings after taxes should follow developments in operating earnings and thus also be significantly below last year’s numbers.Mid-term prospects: still sees EBITDA of around 1.6 billion euros in 2020.Higher proposed dividend: 1.15 euros per share (2014: 0.90 euros per share).FY 2015 reported operating earnings (EBIT I) at 782 million euros.FY 2015 reported revenues at 4.2 billion euros.FY 2015 reported EBITDA at 1.1 billion euros. Full Article
FRANKFURT The interim results of a German environmental regulator's probe into waste water discharge by K+S will keep the potash mining company in limbo, with hundreds of thousands of tonnes of potential potash production at risk.