K&S AG (SDFGn.DE) Key Developments | Reuters.com
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K&S AG (SDFGn.DE)

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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
Monday, 27 Jun 2016 06:30am EDT 

K+S : Says potash production shortfall of more than 400,000 tonnes so far this quarter due to environmental regulation . Says supply shortages cannot be ruled out within the following months Further company coverage: [SDFGn.DE] (Frankfurt Newsroom) ((Frankfurt.newsroom@thomsonreuters.com; +49 7565 1272;)).  Full Article

K+S sees floor in prices for potash products in Brazil
Tuesday, 10 May 2016 05:07am EDT 

K+S AG analyst call: CFO says seeing floor in prices for potash, magnesium products in Brazil Full story [nL5N1870QG] Further company coverage: [SDFGn.DE] ((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1270;)).  Full Article

K + S AG issues Schuldschein worth 600 million euros
Monday, 2 May 2016 08:00pm EDT 

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 to suspend production at Hattorf and Unterbreizbach mines - Reuters News
Tuesday, 29 Mar 2016 03:32am EDT 

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 gives FY 2016 outlook, confirms FY 2020 forecast, proposes dividend
Thursday, 10 Mar 2016 01:00am EST 

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

K + S AG - Court widens K+S waste water investigation -WirtschaftsWoche - Reuters News
Wednesday, 9 Mar 2016 07:14am EST 

K + S AG:A German court will widen an investigation into whether to extend a salt-water disposal permit for potash and salt miner K+S SDFGn.DE, WirtschaftsWoche reported on Wednesday. - RTRS.The reason for the extension is charges filed last month by prosecutors in the town of Meiningen, southeast of K+S's headquarters in the city of Kassel, over suspected illegal waste disposal, the weekly said, citing a court document.K+S declined to comment.The administrative court in the Hessian city of Kassel, which will decide whether to extend the permit, was not immediately available for comment.K+S has won provisional approval for the discharge of saline waste water in Hesse under strict limits.It said in December it expected to receive final approval for deep-well injection until 2021 by this summer.K+S has for years fought complaints by environmental groups and some local municipalities about the discharge of salty waste water from processing potash ore into fertiliser products.The company has previously said it had obtained approval from state mining authorities for waste water disposal and it was fully cooperating with the investigators.But in the statement earlier this month, prosecutors argued those involved in the approval process, including three current and former mining authority employees, must have known that the expert opinion the clearance rested on was wrong about pollution levels.  Full Article

K + S AG - Prosecutors seek 325 mln euros in damages from K+S -WirtschaftsWoche - Reuters - Update
Wednesday, 2 Mar 2016 03:30am EST 

K + S AG:German prosecutors are seeking 325 million euros ($353 million) in damages from potash and salt miner K+S SDFGn.DE over suspected illegal waste water disposal, weekly magazine WirtschaftsWoche reported on Wednesday. - RTRS.Prosecutors in the town of Meiningen, southeast of K+S's headquarters in the German city of Kassel, accuse the company of having put undue pressure on regional authorities to obtain permission for waste water discharge, the magazine said, without specifying its sources.A Meiningen state attorney who acts as spokesman for the prosecutors office declined to comment.A judge at the court in Meiningen said it would take at least three months for it to decide whether the prosecutors' case will be accepted for trial. He declined to comment on any damages or fines sought.A judge told Reuters last month that prosecutors had filed charges over suspected illegal waste disposal at K+S.The charges stem from accusations by authorities at a small town near Meiningen, Gerstungen, which said the company had illegally disposed of saltwater between 1999 and 2007.K+S has previously said it had approval from state mining authorities for the waste water disposal during the time in question and that K+S was fully cooperating with the investigators.The prosecutors' claims were calculated based on 9.5 million cubic meters of saline wastewater that prosecutors allege were discharged illegally, WirtschaftsWoche said.  Full Article

German prosecutors seek 325 mln euros in damages from K + S AG- Reuters
Tuesday, 1 Mar 2016 07:00pm EST 

K + S AG:German prosecutors are seeking 325 million euros ($353 million) in damages from K+S over suspected illegal waste water disposal, weekly magazine WirtschaftsWoche reported-Reuters.German Regional Court says decision on whether to accept prosecutor's charges against K+S for water pollution will take at least 3 months.  Full Article

K + S AG faces output curbs amid lack of waste water approval - Reuters
Monday, 23 Nov 2015 08:32am EST 

K + S AG:K+S SDFGn.DE could face restrictions to production as authorities are withholding approval of its request for the continued discharge of waste water from processing potash - RTRS.K+S was raided earlier this year by German criminal state police, on suspicion of illegally disposing of saltwater, which emerges from the production of fertiliser from potash ore that K+S extracts from mines - RTRS.The group has for years been embroiled in a dispute with environmental groups and local municipalities about the waste water discharge into the Werra river and into porous layers of rock - RTRS.Local authorities in Kassel need time beyond Nov. 30 to process a request by K+S to continue to be allowed through 2021 to discharge waste water, the company said on Monday, adding authorities were pondering a "transitionary regulation." - RTRS."Depending on the water flow of the Werra river, potash production in Hesse and Thuringia might therefore only be ensured to a limited extent in a few days' time," K+S managing director Ralf Diekmann said - RTRS.  Full Article

K + S confirms FY 2015 EBIT I outlook; confirms FY 2020 earnings forecast
Tuesday, 10 Nov 2015 07:00pm EST 

K + S AG:Outlook for FY 2015: significant increase in EBIT I confirmed.Confirms its previous forecast of significant increase in operating earnings.Is expecting EBITDA of between 1.06 billion and 1.11 billion euros in spite of reduced availability of volumes in Potash and Magnesium Products business unit and current weakness in potassium chloride market, sees EBIT I of between 780 and 830 million euros.Revenues of K+S Group in FY 2015 should be significantly higher compared with previous year (2014: 3.82 billion euros).Earnings forecast for FY 2020 also confirmed.In spite of current dip in the potash market, the medium-term growth trends remain intact. Based on this assumption, gradual increase in EBITDA to around 1.6 billion euros and average annual growth of at least 10 pct are expected by 2020.FY 2015 EBITDA outlook 1.1 billion euros - Thomson Reuters I/B/E/S.  Full Article

UPDATE 2-K+S Q2 profit slumps on lower potash prices

* Shares down 10 pct (Adds details on Potash takeover approach, shares, previous forecast)