Kassel, Germany-The K+S Group reported a 447.6 percent increase in adjusted group earnings after taxes to E231.1 million (E1.40 per share) on sales of E1.2 billion for the second quarter ending June 30, 2008. This compares with the year-ago E42.2 million (E.26 per share) and E778.6 million, respectively. It was the company’s best quarter so far. Within the K+S Group, the potash and magnesium segment achieved the best increase in operating earnings, up 421.3 percent, to E291.4 million from the year-ago E55.9 million. Sales from this segment were up 80.4 percent, to E612.8 million from E339.7 million. Earnings were up 223.3 percent at the COMPO unit at E29.1 million from E9 million, and 170.9 percent at fertiva to E14.9 million from E5.5 million. COMPO sales were up 30.7 percent, to E205 million from E156.9 million. Fertiva sales were up 48.6 percent, to E228.8 million from E154 million. Six-month K+S earnings were up 275.7 percent, to E393.7 million on sales of E2.4 billion (E2.39 per share) versus the year-ago E112.4 million (E.64 per share) and E1.72 billion, respectively. First-half potash/magnesium operating income was up 325.3 percent, to E462.3 million on sales of E1.13 billion versus the year-ago E108.7 million and E708.2 million, respectively. K+S expects company-wide 2008 revenues to reach E5.3-5.5 billion versus 2007’s E3.3 billion.
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