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After the shareholders followed the proposal of the Supervisory Board and the Board of Executive Directors on the distribution for the 2022 financial year at the Annual General Meeting on May 10, K+S is starting to buy back its own shares today.

K+S generated revenues of just under €1.2 billion in the first quarter of the current year. EBITDA operating earnings reached €454 million (Q1/2022: €524 million). Higher revenues in the Industry+ customer segment could not fully offset the moderate decline of revenues in the Agriculture customer segment. Additionally, higher costs and valuation effects from mining provisions impacted earnings.

“2022 was an outstanding year for K+S,” says Dr. Burkhard Lohr, Chairman of the Board of Executive Directors of K+S Aktiengesellschaft. EBITDA operating earnings more than doubled to €2.4 billion (2021: €1.1 billion). Group revenues increased to €5.7 billion (2021: €3.2 billion).

The Supervisory Board of K+S Aktiengesellschaft and Mr. Holger Riemensperger have mutually agreed on a separation, as Mr. Riemensperger will take on new challenges in another company. He will leave K+S at the end of February.

Fertilizer and salt producer K+S is testing the use of electromobility in its German mines. The suitability of the charging infrastructure and safety underground are currently being tested in addition to the everyday suitability and range of the vehicles in a mine at the Werra integrated plant. In the long term, electric vehicles are to replace diesel-powered vehicles in all K+S mines.

K+S has agreed to acquire 75 percent of the fertilizer business of Industrial Commodities Holdings (Pty) Ltd (ICH), a South African trading company. K+S and ICH signed a corresponding agreement yesterday. The new business will operate under the name Fertiva (Pty) Ltd. The balance of 25 percent of the shares in Fertiva will be held by two former ICH shareholders, who previously managed the fertilizer business at ICH, and who will now also form part of the Fertiva management team.

The Supervisory Board of K+S Aktiengesellschaft has appointed Dr. Carin-Martina Tröltzsch as a further member of the Board of Executive Directors of the Company. She will assume her position at K+S on March 15, 2023.

The Board of Executive Directors of K+S AG has decided not to make use of the cap on electricity and gas prices as of January 1, 2023, which was approved by the German parliament. In principle, however, the Board of Executive Directors welcomes the aid measures taken by the federal government to support particularly affected companies in Germany.

K+S has completed the buy-back of the outstanding bonds maturing in 2024 (ISIN: XS1854830889) as planned. The Company is therefore reducing its financial liabilities by a further €116.4 million.

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