(Reuters) -German salt and potash miner K+S reported second quarter revenues which were below expectations on Tuesday as sales volume at its agriculture business were affected by logistical challenges.
The Hessian-based firm posted second quarter revenue of 871 million euros ($1.01 billion), nearly six percent below analysts expectations according to a poll by Vara research.
CONTEXT
K+S pre-released part of its results and confirmed its full year outlook in July, reporting a core profit miss.
WHY IT’S IMPORTANT
Potash prices have started to rise again in 2025, following a period of volatility caused by Russia’s invasion of Ukraine that shrank margins at potash miners.
KEY QUOTES
“We still expect to achieve EBITDA of 560 million euros to 640 million euros and slightly positive adjusted free cash flow for the full year 2025, as potash prices have continued to rise moderately in recent months,” Chief Executive Officer Christian H. Meyer said.
PEERS
K+S’s results echoes the ones of U.S.-based peer Mosaic, which reported second-quarter adjusted earnings below Wall Street estimates as higher costs weighed against gains from stronger potash prices and robust sales in Brazil.
($1 = 0.8606 euros)
(Reporting by Tristan Veyet in Gdansk, editing by Matt Scuffham)
