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K+S's Ebit down 21% on lower potash and magnesium results, says prices are stabilizing

6:32 AM MDT | May 14, 2014 | Francinia Protti-Alvarez

Potash producer K+S (Kassel, Germany) reports a 21% year-on-year (YOY) decrease in first-quarter Ebit, to €219.6 million ($301.6 million), mostly because of lower potash and magnesium product sales. Adjusted group earnings after taxes for the first quarter were €141.5 million, down 25.6% YOY. Revenues also shrank, just over 7% YOY, to €1.19 billion. K+S says that, following the turmoil in the worldwide potash market in the second half of 2013, the market for products containing potash appears to be stabilizing. “The demand for potash and...

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