Company News

K+S reports second-quarter EBITDA beat on cost cuts

Aug 13 (Reuters) - German minerals miner K+S on Thursday reported higher than expected second-quarter core profit, as good operational performance and high cost discipline partly offset lower average prices for potash fertilizers and the effects of the coronavirus pandemic.

The salt and potash fertiliser supplier said quarterly earnings before interest, tax, depreciation and amortization (EBITDA) fell 32% to 88 million euros ($104 million), above a company-provided consensus of 77.9 million euros.

The company confirmed its full-year guidance and expects 2020 EBITDA of about 520 million euros. ($1 = 0.8472 euros) (Reporting by Bartosz Dabrowski in Gdansk; editing by Jonathan Oatis)