K+S falls, analyst points to buy-side disappointment

K+S AG

13/03/2025 09:00

** German potash and salt miner K+S SDFGn.DE shares fall around 5%, with an analyst pointing to disappointment from the buy-side after the share's 35% appreciation year-to-date

** "Stock price appreciation of 35% year to date ... seemed to be based on buy-side expectations that higher potash prices might have a very positive impact on K+S's earnings in 2025 and maybe also beyond. That was never reflected in the sell-side condensed numbers," Oliver Schwarz, analyst at Warburg Research, notes

** The analyst adds that the 2025 guidance was given the range more or less at midpoint on the consensus expectations, with the buy-side expecting more

** The Hessian-based firm reported a Q4 EBITDA of 163.7 million euros ($177.8 million), ahead of consensus that saw it reach 148.3 million euros

** K+S' stock falls to the bottom of Germany's midcaps index .MDAXI and is on track for a worst day since November 2023

($1 = 0.9209 euros)

 (Reporting by Tristan Veyet)

 ((Tristan.chabba@thomsonreuters.com))