Potash miner K+S beats 2024 core profit forecast

Nutrien

13/03/2025 06:04

Repeats with no changes

March 13 (Reuters) - German potash and salt miner K+S SDFGn.DE beat 2024 core profit expectations on Thursday as higher sales volumes from agriculture customers helped to offset lower potash prices.

The group reported earnings before interest, tax, depreciation and amortisation (EBITDA) of 557.7 million euros ($607.2 million), topping analysts' average forecast of 542.3 million euros, according to Vara Research.

Rivals such as U.S.-based Mosaic MOS.N and Canada's Nutrien NTR.TO reported lower than expected 2024 results on the back of lower sales.

"Considering that we had a year in which potash prices were at a relatively low level ... we really came through this year well," CEO Burkhard Lohr said in an interview.

Potash prices stabilised in 2024, following a period of volatility caused by Russia's invasion of Ukraine that shrank margins at potash miners.

In 2025, K+S expects EBITDA to range between 500 and 620 million euros.

Analysts' average forecast is 537.5 million euros, according to Vara Research.

"Perhaps we will also achieve the 80 million tons of global potash demand for the first time in this industry. However, this also depends on how the spring season goes", Burkhard Lohr said.

K+S will propose a 2024 dividend of 15 cents per share, it said. Last year, it paid out 0.70 euro per share.

($1 = 0.9185 euros)

 (Reporting by Tristan Veyet and Rafal W. Nowak in Gdansk, Patricia Weiss in Frankfurt. Editing by Mark Potter)

 ((Tristan.Chabba@thomsonreuters.com;))