Germany's K+S raises 2026 outlook as higher prices boost profits (updated)
22/04/2026 09:55
Adds comment on Middle East conflict in paragraph 4, updates share move in paragraph 5, adds details on Q1 in paragraphs 7-8. April 22 (Reuters) - German potash and salt miner K+S SDFGn.DE raised its 2026 outlook on Wednesday after higher-than-anticipated agricultural prices drove a strong beat on first-quarter core earnings. Prices of potassium chloride, or potash, climbed to above $380 a metric ton by the end of the quarter. That compares to historic lows of below $280 a ton seen in late 2024. The Hessian-based group targets annual earnings before interest, taxes, depreciation and amortization (EBITDA) of 630 million to 730 million euros ($740 million to $857 million), compared to a previous range of 600-700 million euros. It, however, warned that the effects of the Middle East conflict could only be predicted to a limited extend. The company's shares were up 6% by 0947 GMT and have gained more than one-fourth in value since the start of 2026. K+S said its EBITDA was around 280 million euros in the first quarter, well above analysts' average forecast of 224.7 million euros in a Vara consensus poll. Higher demand for de-icing salt during a colder-than-usual winter in parts of Europe and price hikes in the company's agricultural segment led the overperformance. The company is set to release full first-quarter results on May 11. ($1 = 0.8509 euros) (Reporting by Tristan Veyet in Gdansk, Patricia Weiss in Frankfurt, editing by Milla Nissi-Prussak) ((Tristan.veyet@thomsonreuters.com;))