K+S Group, Kassel, today posted a 27 percent increase in first-quarter EBITDA, to €126 million on revenues of €733.3 million, up from the year-ago €99.3 million and €647 million, respectively.
Agriculture customer segment revenues were up 3 percent at €469 million, while the division’s sales volumes rose 6 percent to 2.01 million mt from the year-ago 1.9 million mt.
“The rapid recovery in overseas potassium chloride prices seen in the first quarter and the assumption of an improved early fills business with de-icing salt” has led K+S to raise its full-year 2021 EBITDA guidance to between €500 million and €600 million, up from the previous forecast of €440 million to €540 million (FY2019: €267 million).
The new guidance has beat the average analyst estimate of €466.9 million, according to a Bloomberg report (range €306 million to €584 million, Bloomberg Consensus). The guidance continues to include the one-off gain of around €200 million generated by the closing of the REKS joint waste management venture.