K+S 4Q earnings off 95 percent

Kassel-Germany’s K+S Group reported a 95.2 percent drop in earnings before income taxes for the fourth quarter ending Dec. 31, 2009, to E15.2 million (E.10 per share) on sales of E1 billion, versus the year-ago E315.1 million (E1.38 per share) and E955.5 million. For the year, earnings were off 89.5 percent, to E126.5 million (E.56 per share) and E3.6 billion, compared to 2008’s E1.2 billion (E5.94 per share) and E4.8 billion. The company’s salt business somewhat offset the performance of its fertilizer business. K+S sees 2010 as a transitional year for fertilizer, and expects to see more benefits from its 2009 acquisition of Morton Salt. Figures below are in Euros and millions.