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K+S reports lower sales and earnings as global potash turmoil takes its toll

2:56 AM MDT | March 13, 2014 | Natasha Alperowicz

Potash producer K+S (Kassel, Germany) today announced its 2013 results and gave guidance for this year. The company reported an 18.4% decline in earnings before interest and tax (Ebit) at €656 million ($915 million) on flat sales of €3.95 billion. Fourth-quarter Ebit was down 45% on the corresponding period of 2012 at €99.6 million on sales 4% higher at €977.9 million. Fourth-quarter Ebit in the potash and magnesium business dropped 67% to €54.3 million and sales in that business were down 15% to €407.1 million. K+S says it...

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