K+S AG : China-bottom?! Bringing 2025 forward to 2023 still leaves 30% discount to Nutrien
>Profit warning as China contract takes its toll on global potash price levels - The recent China potash contract agreed with Canpotex at US$ 307/t standard MOP for 6 months deliveries reset and lowered the bar for global potash prices elsewhere and made K+S' earnings projection rather unachievable. Hence, K+S issued a profit warning, saying that a transition of the China settlement into other regional markets throughout 2023 may translate to a group EBITDA 2023 of ar...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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