March 11, 2020 / 1:23 PM / in 23 days

K+S reports Q4 below expectations, sees lower 2020 core profit

March 11 (Reuters) - German minerals miner K+S reported lower than expected fourth-quarter core profit on Wednesday, citing the weakening of the potash market and mild winter in Europe.

The world’s largest producer of salt for food and de-icing said fourth-quarter earnings before interest, tax, depreciation and amortization (EBITDA) fell 29.9% to 159.8 million euros ($181 million), below a consensus provided by the company of 165.5 million euros.

The company expects 2020 EBITDA to range between 500 million and 620 million euros, down from 640 million euros in 2019. ($1 = 0.8825 euros) (Reporting by Bartosz Dabrowski in Gdansk Editing by Tomasz Janowski)

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