K+S Beats Estimates
K+S Group, Kassel, reported a 5 percent increase in EBITDA to €606.3 million for fiscal 2018, up from the year-ago €576.7 million, and falling within the guided range of €570 million to €630 million and beating analysts’ consensus of €589 million, according to Bloomberg data. EBITDA was burdened by the prolonged heat wave and severe drought in Germany last year and low water levels in rivers; the negative impact for the year was €110 million. The Bethune plant in Saskatchewan, Canada, which produced its targeted 1.4 million mt of potash for the year, added a positive EBITDA contribution for the first time.