Potassium Pricing and Production Issues Plague K+S' 2016; Maintaining our FVE
K+S endured a rough 2016. Not only did potassium prices move against the company during the year, but production was limited by issues at an important German mine. Operating earnings sank to EUR 229 million from EUR 782 million in 2015. The outlook is a bit brighter for K+S. We think potassium prices will improve in 2017, and the company will start to see production rise with the first tons of potash expected this year from the Legacy greenfield project in Saskatchewan. Still, we think long-term...K+S is engaged in the chemical sector. Co. has three business segments. The Potash and Magnesium Products segment combines the production and marketing of potash fertilizers and fertilizer specialities as well as potash and magnesium compounds for technical, industrial and pharmaceutical applications. The Salt segment encompasses the production and marketing of food grade salt, industrial salt and salt for chemical use, de-icing salt and sodium chloride brine. The Complementary Activities segment bundles together recycling activities and waste disposal or reutilisation in potash and rock salt mines as well as catsan® granulation.
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