K+S AG : Q3 EBITDA in-line, advance energy payment hit FCF, but strong Q4 rebound ahd; guidance confirmed; new mid-term targets doable, CMD today
>Better Q3 sales on strong de-icing start and better Ag; EBITDA in line as spot gas costs weighed; easing cost pressure underway - Sales growth was stronger than expected at 32% y-o-y to € 746m (ODDO/consensus € 674m/€ 685m), primarily fuelled by Ag revenues (+42% y-o-y) but with higher-than-expected Industry revenues.EBITDA of € 121m was in-line with our/consensus estimates (€ 117m/€ 122m), implying 16.2% of sales (ODDO BHF/consensus 17.4%/17.9%) as € 16m y-o-y...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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