K+S AG : Q3 EBITDA 37% above css on strong volumes; outlook confirmed, in line with css of € 696m at mid-point; 30-50% of FCF planned payout
>Q3 EBITDA of € 72m 37% above consensus of €53m (ODDO € 54m), tripling q-o-q vs € 24m in Q2 2023 on 12% q-o-q higher Ag volumes and flat Ag ASP - Q3 2023 EBITDA tripled q-o-q to € 72m compared with € 24m in Q2 2023, fuelled by 7% q-o-q higher group sales of € 881m (Q2 2023 € 826m, cons/ODDO € 867m). Ag ASP was flat q-o-q in Q3 2023 at € 332/t (cons/ODDO € 334/t; € 341/t) compared to € 334/t in Q2, primarily mirroring sequentially slightly higher potash (MOP) prices. ...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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