March 15, 2018 / 6:25 AM / 2 years ago

New mine to help K+S post significant earnings gain in 2018

FRANKFURT, March 15 (Reuters) - German potash miner K+S vowed to increase earnings significantly this year, as it ramps up production at its new Bethune mine in Canada and after temporary restrictions on waste water at its main domestic mine were lifted.

Revenues would be tangibly higher and earnings before interest, taxes, depreciation and amortisation (EBITDA) would see significant gains, it said on Thursday.

Fourth-quarter operating profit adjusted for currency hedging effects (EBIT I) came in at 92.7 million euros ($14 million), up from 27.5 million a year earlier but slightly below the 95 million euros expected on average by analysts in a Reuters poll.

Reporting by Ludwig Burger Editing by Maria Sheahan

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