K+S Stock SDF.DE
K+S stock (SDF.DE): Quarterly and annual results since 2023 from Quarterly Report and IR documents: revenue, earnings, balance sheet, cash flow and management guidance, every figure with its source. As of 08/2026, quarterly reporting. Stock analysis by NadirAlpha. Revenue Q2 2026: EUR 978 million (+12% year on year). Latest reading: Guidance raised, Acquisition, Revenue accelerating.
Guidance raised strategy: Acquisition Revenue accelerating ◦
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Not investment adviceNeutral financial information, no recommendation, no investment research within the meaning of MiFID II.
Verify yourselfFigures are extracted automatically, errors are possible. Every figure is clickable with its source; the issuer's original documents are always authoritative.
EditorialThe texts (business model, current status, development and others) are written AI-editorially from the original reports alone, cross-checked automatically and backed with sources; the company's own account, no assessment of our own. Methodology
AI research · This page works as a source-backed data basis for further research with AI assistants such as Claude; every figure remains verifiable via the source links.
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Business Model#
What the company does and how it earns its money; written AI-editorially, exclusively from the company's original reports, without any assessment of our own. Methodology
K+S is a German mining and chemical group specialising in potash, magnesium, and salt products. The Agriculture segment, which accounts for the majority of group revenues, sells potash-based and specialty fertilizers to global agricultural markets. The Industry+ segment supplies de-icing salts, food-grade salts, and industrial salts to municipal, food processing, and industrial customers. Revenue is earned through the direct sale of mineral-derived bulk and specialty products, with no significant recurring-subscription or service component. The company operates underground and surface mining facilities in Germany and at the Bethune potash mine in Saskatchewan, Canada, with multi-year capital programs underway to expand Bethune and transform the Werra operations to dry processing under the Werra 2060 project.
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Current Status#
Summary of the most recent reporting period: core figures, drivers and management statements; written editorially from the current original report, every figure backed by a source number. Methodology
Assessment by NadirAlpha, as of Q2 2026.
K+S reported second-quarter revenues of 978.3 million, higher than 871.2 million in the prior-year quarter, with operating EBITDA exceeding market expectations 26. Agriculture segment revenues were €700 million and Industry+ revenues were €278 million, both rising year-on-year driven by volume and price improvements 26. K+S raised its full-year EBITDA and free cash flow guidance for 2026 and announced an agreement to acquire Qemetica's salt operations in Poland and Germany 26.
Management commentary on the 2026-Q2 results (IR-Quarter, 2026-08-12):
“In the first half of the year, we demonstrated that K+S remains operationally strong even in a challenging geopolitical and macroeconomic environment. Strong demand for potash, combined with positive price trends, our improved production output, and the very good salt business, are driving revenues, earnings, and cash flow. Our cost discipline also had a positive impact in the second quarter. That is why we are raising our forecasts for EBITDA and free cash flow for the full year, even though it is not yet clear how the uncertain developments in the conflict in the Middle East will continue to affect us. At the same time, we remain focused on financial discipline, reliability for our customers, and the implementation of our major strategic projects.” Dr. Christian H. Meyer, Chief Executive Officer 26
“The strong demand during the successful placement of the bonds underscores the capital market's confidence in K+S and supports our strategic capital allocation.” Dr. Jens Christian Keuthen, Chief Financial Officer 26
Revenue · 2026-Q2978€m+12.3 % vs. 2025-Q2
Net profit · 2026-Q2647€m+137.3 % vs. 2025-Q2
Revenue trend
Guidance
For FY2026, the company guides De-icing salt volumes 2.6 (raised); EBITDA 680 to 760 €m (confirmed); Sales volumes Agriculture customer segment 7.4 to 7.6 (confirmed). 22
ProfitabilityOperating EBITDA reached €176 million in Q2, exceeding the market consensus of €149 million 26. Net income was 646.7 million, or – per diluted share 131. Operating cash flow was 117.3 million; adjusted free cash flow for the first half of 2026 was €101 million, up from €24 million in H1 2025 26.
LeverageNet debt stood at -426.5 million at quarter-end, lower than -309.2 million at the end of the prior-year second quarter 131. Cash was 452.4 million 131. K+S placed €320 million in convertible bonds on June 9, 2026 to finance the planned Qemetica acquisition 26.
Management viewK+S raised its 2026 full-year EBITDA guidance to €680-760 million from €630-730 million 26. Adjusted free cash flow guidance for 2026 was lifted to the mid- to higher-double-digit range from a prior target of break-even 26. The Qemetica transaction, once closed, is intended to complement K+S's existing salt operations with additional capacity in Poland and Germany 26.
ChangeFree cash flow was 19.8 million for Q2 as capital expenditures of 97.5 million outpaced operating cash flow 131. Industry+ segment revenues of €278 million in Q2 rose from €254 million in Q2 2025, driven by de-icing salt demand and price increases 26. Agriculture segment revenues of €700 million were higher than the €618 million recorded in Q2 2025, supported by volume and price improvements 26.
Risks (current)Asia accounted for 16% of 2025 revenue, and Middle East deliveries rely on alternative, costlier routes that could weigh on margins 25. Long-term mining restoration provisions total €1,407.9 million, representing a significant long-term balance sheet liability 25. The Werra 2060 transformation is required to comply with emissions and wastewater management obligations, and a permanent revocation of operating permits for tailings pile disposal could force production to cease 21.
New this reporting periodK+S agreed to acquire Qemetica's salt business in Poland and Germany for €350 million plus a performance bonus of up to €30 million, with closing expected in Q1 2027 26. Above-ground implementation of the Werra 2060 Wintershall plant renovation commenced during Q2, targeting a transition to dry processing by summer 2028 26. The Bethune plant capacity expansion in Canada continued on plan, with construction and cavern development underway 26.
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Price & Chart#
Interactive price chart (TradingView) and the trend of key figures from the core tables. Methodology
Daily candles with news and earnings markers. Loads only on click.
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Share-Price Drivers#
Factors the company itself names as material for its business development (IR-based); reproduced neutrally, no price forecast and no assessment of our own. Methodology
Agriculture customer segment potash and fertilizer volumes
Agriculture is the largest revenue segment and the primary swing factor for group sales, with quarterly segment revenue of 700.0 reported for 2026-Q2 26
Agriculture is the largest revenue segment and the primary swing factor for group sales, with quarterly segment revenue of 700.0 reported for 2026-Q2 26
Agriculture customer segment (potash/fertilizer demand)
Agriculture segment revenue of 700.0 in 2026-Q2 remains the dominant contributor; an India potassium chloride supply contract was secured 26 23
Agriculture segment revenue of 700.0 in 2026-Q2 remains the dominant contributor; an India potassium chloride supply contract was secured 26 23
Industry+ customer segment
Industry+ segment revenue of 278.0 in 2026-Q2 provides a second, steadier demand channel 26
Industry+ segment revenue of 278.0 in 2026-Q2 provides a second, steadier demand channel 26
Bethune potash site ramp-up toward four million tonnes capacity
Bethune capacity expansion and ramp-up to four million tonnes is ongoing, described as extending through 2040 8 27
Bethune capacity expansion and ramp-up to four million tonnes is ongoing, described as extending through 2040 8 27
Werra 2060 transformation project (dry processing transition)
Werra 2060 plant renovation and transition to dry processing is planned, with first above-ground conversion work beginning 2025 25 21
Werra 2060 plant renovation and transition to dry processing is planned, with first above-ground conversion work beginning 2025 25 21
Qemetica salt business acquisition
Planned acquisition of Qemetica's salt business, expected to complete around 2027-Q1, would broaden the salt/industry footprint 26 23
Planned acquisition of Qemetica's salt business, expected to complete around 2027-Q1, would broaden the salt/industry footprint 26 23
Energy cost measures (CHP and power-to-heat plants)
Combined heat and power plant at Bethune plus commissioned power-to-heat boilers at German sites aim to lower energy exposure 25 7
Combined heat and power plant at Bethune plus commissioned power-to-heat boilers at German sites aim to lower energy exposure 25 7
Sector trend: Fertilizer and potash demand is firming, with group change flags pointing to accelerating growth, improving profitability and raised guidance, while planned capacity additions at Bethune and the pending salt acquisition signal rising utilisation ambitions 26 23.
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Event Timeline#
This timeline collects the material events from the original reports: guidance changes, revenue and margin signals, strategy shifts, product and M&A announcements. Methodology
Overview: one dot per event · click jumps to the period
2026 · 6 events
2026-Q2 · Apr to Jun 2026
Guidance raised 2026-08-12
FY2026 EBITDA guidance raised to €680 to 760 million from €630 to 730 million; adjusted free cash flow guidance raised to mid- to higher-double-digit million-euro range from prior break-even expectation 26
FY2026 EBITDA guidance raised to €680 to 760 million from €630 to 730 million; adjusted free cash flow guidance raised to mid- to higher-double-digit million-euro range from prior break-even expectation 26
Revenue accelerating ◦ 2026-08-11
Q2 revenues increased 12.3% to 978.3 million from €871 million in Q2 2025, driven by higher volumes and prices in both the Agriculture and Industry+ segments 22
Q2 revenues increased 12.3% to 978.3 million from €871 million in Q2 2025, driven by higher volumes and prices in both the Agriculture and Industry+ segments 22
Acquisition 2026-07-16
K+S agreed to acquire Qemetica's salt business in Poland and Germany for €350 to 380 million, expected to close in Q1 2027, financed in part through a €320 million convertible bond placement at 0.625% coupon 23
K+S agreed to acquire Qemetica's salt business in Poland and Germany for €350 to 380 million, expected to close in Q1 2027, financed in part through a €320 million convertible bond placement at 0.625% coupon 23
2026-Q1 · Jan to Mar 2026
earnings 2026-04-22
EBITDA increased 39.2% to €279.2 million with EBITDA margin expanding to 26.3% from 20.8%; a €290 million impairment charge on PP&E from IAS 36 cost-of-capital reassessment reduced net income to -156.9 million 25
EBITDA increased 39.2% to €279.2 million with EBITDA margin expanding to 26.3% from 20.8%; a €290 million impairment charge on PP&E from IAS 36 cost-of-capital reassessment reduced net income to -156.9 million 25
Revenue accelerating ◦ 2026-04-22
Revenue rose 10.0% to 1,060.8 million, driven by higher prices in both segments and strong de-icing salt volumes 25
Revenue rose 10.0% to 1,060.8 million, driven by higher prices in both segments and strong de-icing salt volumes 25
Guidance raised 2026-04-22
FY2026 EBITDA guidance raised to €630 to 730 million from €600 to 700 million on strong Q1 performance and positive agriculture price trends 25
FY2026 EBITDA guidance raised to €630 to 730 million from €600 to 700 million on strong Q1 performance and positive agriculture price trends 25
2025 · 15 events
2025-Q4 · Oct to Dec 2025
“With our determination, your trust, and your support, we are confident that we will lead K+S successfully into the future.” Dr. Christian H. Meyer, Chairman of the Board of Executive Directors 21
Adjusted result turned positive ◦ 2026-03-13
Q4 adjusted Group earnings after tax reached 1,662.7 million versus -€10.8 million in Q4 2024; FY2025 EBITDA of €612.8 million reached upper end of guided range, above FY2024 EBITDA of €557.7 million 12
Q4 adjusted Group earnings after tax reached 1,662.7 million versus -€10.8 million in Q4 2024; FY2025 EBITDA of €612.8 million reached upper end of guided range, above FY2024 EBITDA of €557.7 million 12
Guidance initiated 2026-03-13
FY2026 EBITDA guidance initiated at €600-700 million; adjusted free cash flow expected to at least break even despite continued elevated capital expenditures for Werra 2060 and Bethune 12
FY2026 EBITDA guidance initiated at €600-700 million; adjusted free cash flow expected to at least break even despite continued elevated capital expenditures for Werra 2060 and Bethune 12
Net income doubled 2026-03-12
Net income more than doubled YoY (24.4 to EUR 1,662.7 million, +6714%). 128
Net income more than doubled YoY (24.4 to EUR 1,662.7 million, +6714%). 128
2025-Q3 · Jul to Sep 2025
Divestiture 2026-04-23
K+S Salzdetfurth GmbH established as wholly-owned subsidiary following spin-off of the animal hygiene products business segment effective August 29, 2025 21
K+S Salzdetfurth GmbH established as wholly-owned subsidiary following spin-off of the animal hygiene products business segment effective August 29, 2025 21
Adjusted result turned positive ◦ 2025-11-11
Adjusted Group earnings after tax improved to €18.3 million in Q3 2025 from -€43.7 million in Q3 2024, supported by price increases, reduced inventory drawdowns, and favorable currency results 19
Adjusted Group earnings after tax improved to €18.3 million in Q3 2025 from -€43.7 million in Q3 2024, supported by price increases, reduced inventory drawdowns, and favorable currency results 19
Guidance confirmed 2025-11-11
FY2025 EBITDA guidance range narrowed to €570-630 million from €560-640 million, midpoint unchanged at €600 million, reflecting revised production volume and product mix assumptions 20
FY2025 EBITDA guidance range narrowed to €570-630 million from €560-640 million, midpoint unchanged at €600 million, reflecting revised production volume and product mix assumptions 20
2025-Q2 · Apr to Jun 2025
“Despite a less favorable USD/EUR exchange rate assumption, we still expect to achieve EBITDA of €560 million to €640 million and slightly positive adjusted free cash flow for the full year 2025, as potash prices have continued to rise moderately in recent months” Dr. Christian H. Meyer, CEO 18
Margin expanding 2025-08-12
Agriculture segment average selling price increased to €336/t from €305/t in Q2 2024, reflecting strong global potash demand, while Q2 revenues of 871.2 million remained broadly stable 18
Agriculture segment average selling price increased to €336/t from €305/t in Q2 2024, reflecting strong global potash demand, while Q2 revenues of 871.2 million remained broadly stable 18
Guidance confirmed 2025-08-12
FY2025 EBITDA guidance confirmed at €560-640 million with an assumed spot USD/EUR rate of 1.18 for remaining months 18
FY2025 EBITDA guidance confirmed at €560-640 million with an assumed spot USD/EUR rate of 1.18 for remaining months 18
Net income turned negative 2025-08-12
Non-cash impairment of €2,063 million recognized on the Potash and Magnesium Products CGU as of June 30, 2025, driven by USD depreciation against the euro and revised long-term EUR/USD exchange rate assumptions, driving Q2 net income to -1,734.2 million 17
Non-cash impairment of €2,063 million recognized on the Potash and Magnesium Products CGU as of June 30, 2025, driven by USD depreciation against the euro and revised long-term EUR/USD exchange rate assumptions, driving Q2 net income to -1,734.2 million 17
2025-Q1 · Jan to Mar 2025
“We are on track and have navigated through the year 2024 well despite low potash prices.” Dr. Burkhard Lohr, Vorsitzender des Vorstands 6 (translation, original on hover)
Margin compressing 2025-08-12
Collective bargaining agreement concluded with 3.2% wage increase effective April 1, 2025, raising the personnel cost base 17
Collective bargaining agreement concluded with 3.2% wage increase effective April 1, 2025, raising the personnel cost base 17
Net income doubled 2025-08-12
Net income more than doubled YoY (27.7 to EUR 85.5 million, +209%). 131
Net income more than doubled YoY (27.7 to EUR 85.5 million, +209%). 131
earnings 2025-03-13
EBITDA declined to €558 million (2023: €712 million) on lower potash prices, within management's guided corridor 6
EBITDA declined to €558 million (2023: €712 million) on lower potash prices, within management's guided corridor 6
Revenue decelerating 2025-03-13
Revenues fell to EUR 3,653.1 millionm as lower potash prices outweighed higher volumes and an improved product mix 7
Revenues fell to EUR 3,653.1 millionm as lower potash prices outweighed higher volumes and an improved product mix 7
2024 · 3 events
2024-Q1 · Jan to Mar 2024
“Our dedicated teams have once again demonstrated their performance capabilities.” Dr. Burkhard Lohr, Vorsitzender des Vorstands 3 (translation, original on hover)
Revenue decelerating ◦ 2024-03-14
Full-year revenues declined versus the 2022 record, primarily due to price-driven weakness in the Agriculture customer segment 3
Full-year revenues declined versus the 2022 record, primarily due to price-driven weakness in the Agriculture customer segment 3
Guidance initiated 2024-03-14
Management guided for normalization of the potash market in 2024 with a balance of supply and demand 3
Management guided for normalization of the potash market in 2024 with a balance of supply and demand 3
Strategic pivot 2024-03-14
New distribution policy applied at FY results: 30% to 50% of annually generated adjusted free cash flow returned via dividend and/or share buybacks; dividend of €0.70 per share proposed for FY 2023 3
New distribution policy applied at FY results: 30% to 50% of annually generated adjusted free cash flow returned via dividend and/or share buybacks; dividend of €0.70 per share proposed for FY 2023 3
2023 · 3 events
2023-Q3 · Jul to Sep 2023
Adjusted result turned negative ◦ 2023-11-13
Adjusted Group earnings after tax turned negative at €-24 million in Q3 2023 from €379 million in Q3 2022, as EBITDA compressed to €72.2 million from €633.3 million 1
Adjusted Group earnings after tax turned negative at €-24 million in Q3 2023 from €379 million in Q3 2022, as EBITDA compressed to €72.2 million from €633.3 million 1
Revenue decelerating ◦ 2023-11-13
Q3 2023 revenues fell to 880.8 million from €1,469.9 million in Q3 2022, with the Agriculture customer segment hit by average prices of €331/t versus €745/t in the prior-year quarter, partially offset by higher volumes of 1.87 million tonnes 1
Q3 2023 revenues fell to 880.8 million from €1,469.9 million in Q3 2022, with the Agriculture customer segment hit by average prices of €331/t versus €745/t in the prior-year quarter, partially offset by higher volumes of 1.87 million tonnes 1
Acquisition 2023-11-10
K+S acquired 75% of the fertilizer business of Industrial Commodities Holdings on 3 July 2023; the acquired entity now operates as Fertiva (Pty) Ltd. 2
K+S acquired 75% of the fertilizer business of Industrial Commodities Holdings on 3 July 2023; the acquired entity now operates as Fertiva (Pty) Ltd. 2
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Key Figures (€m)#
The company's core financial figures in three views, one below the other: fiscal years (as reported; after restatements the table shows the most recent filing version, marked), half-years (6-month basis, H2 = second half on its own) and quarters (3-month basis, not cumulative). All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. Methodology
All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.
Revenue (€m) · quarterly basis, as reported
Net income (€m) · quarterly basis, as reported
EPS (€) · quarterly basis, as reported
Operating cash flow (€m) · quarterly basis, as reported
Cash (€m) · quarterly basis, as reported
Debt (€m) · quarterly basis, as reported
Net Debt (€m) · quarterly basis, as reported
Capex (€m) · quarterly basis, as reported
FCF (€m) · quarterly basis, as reported
D&A (€m) · quarterly basis, as reported
Shown: the most recent fiscal years. Full history since FY2022 is on record.
Fiscal years
Amounts in €m · EPS in € per share · as reported
Quarters
Amounts in €m · EPS in € per share · as reported
| Period | Published | Revenue | Op. income | Net income | EPS (€) | EPS adj. (€) | FCF | Cash | Net Debt | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2* | 2026-07-16 | 978.3 | – | 646.7 | – | 3.60 | 19.8 | 452.4~ | -426.5~ | 131 |
| 2026-Q1* | 2026-04-22 | 1,060.8 | 97.5 | -156.9 | 0.75 | -0.76 | 126.8 | 433.8~ | -1,594.3~ | 25 |
| 2025-Q4* | 2026-03-12 | 283.1~ | – | 1,662.7 | 0.34 | – | -45.3 | 433.8 | -309.2~ | 12 |
| 2025-Q3* | 2025-11-11 | 879.1~ | – | 2.2 | 0.01 | – | 26.2 | 291.3~ | -1,596.7~ | 127 |
| 2025-Q2* | 2025-08-12 | 871.2 | – | -1,734.2 | – | -9.94 | -22.4 | 332.7~ | -309.2~ | 9 |
| 2025-Q1* | 2025-08-12 | 964.7 | 122.8 | 85.5 | 0.33 | 0.33 | 71.2 | 332.7 | 456 | 128 |
| 2024-Q4* | 2026-03-12 | 925 | – | 24.4 | – | – | -80 | 352.6~ | -144.5~ | 14 |
| 2024-Q3* | 2025-11-11 | 866.2 | – | -25.6 | -0.15 | – | 33.5 | 872.5~ | -83.8~ | 127 |
| 2024-Q2* | 2025-08-12 | 873.8 | – | -6.3~ | 0.04 | – | -20.9 | 872.5 | -144.5~ | 124 |
| 2024-Q1* | 2025-08-12 | 988 | – | 27.7 | 0.04 | – | 130.3 | – | – | 17 |
| 2023-Q3* | 2023-11-10 | 880.8~ | – | -47.6 | -0.13 | – | 27.8 | – | 241 | 104 |
* derived: values with formula provenance (hover); Q4 = FY − 9M · H2 = FY − H1 · EPS via implied shares · net debt = financial debt − cash · FCF = OCF − |capex|.
Net debt: company definition (includes provisions, e.g. for mining and pension obligations); a negative value means net debt. Not the house formula financial debt minus cash.
Columns not reported in this reporting cadence are hidden: Op. income (adj.), EBITDA (adj.) (not reported in any source for these periods).
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Balance Sheet & Cash Flow (€m)#
Point-in-time balance sheet items (e.g. cash, financial debt) and cash flow items (operating cash flow, investments/capex) per fiscal year, half-year and quarter. All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. Methodology
Fiscal years
Amounts in €m · as reported
| Period | Published | Cash | Debt | Net Debt | OCF | Source |
|---|---|---|---|---|---|---|
| FY2025 | 2026-03-13 | 433.8 | 495.2~ | -309.2~ | 572.7 | 12 |
| FY2024 | 2026-04-23 | 352.6~ | 788.7 | -144.5~ | 583 | 128 |
Quarters
Amounts in €m · as reported
| Period | Published | Cash | Debt | Net Debt | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2 | 2026-07-16 | 452.4~ | 495.6 | -426.5~ | 97.5 | 117.3 | 97.5 | 19.8 | 131 |
| 2026-Q3 | 2026-07-16 | 587.5 | 767.8 | 180.3 | – | – | – | – | 131 |
| 2026-Q1 | 2026-04-22 | 433.8~ | 495.2~ | -1,594.3~ | 97.5 | 214 | 87.2 | 126.8 | 25 |
| 2025-Q4 | 2026-03-12 | 433.8 | 495.2~ | -309.2~ | – | 147.5 | 192.8 | -45.3 | 12 |
| 2025-Q3 | 2025-11-11 | 291.3~ | 494.5~ | -1,596.7~ | 90.4 | 160.7 | 134.5 | 26.2 | 127 |
| 2025-Q2 | 2025-08-12 | 332.7~ | 494.5 | -309.2~ | 125.3 | 102.9 | 125.3 | -22.4 | 9 |
| 2025-Q1 | 2025-08-12 | 332.7 | 788.7 | 456 | 122.8 | 161.6 | 90.4 | 71.2 | 128 |
| 2024-Q4 | 2026-03-12 | 352.6~ | 788.7 | -144.5~ | – | 99 | 179 | -80 | 14 |
| 2024-Q3 | 2025-11-11 | 872.5~ | 788.7 | -83.8~ | 120.4 | 173.6 | 140.1 | 33.5 | 127 |
| 2024-Q2 | 2025-08-12 | 872.5 | 788.7 | -144.5~ | 122 | 95.5 | 116.4 | -20.9 | 124 |
| 2024-Q1 | 2025-08-12 | – | – | – | – | 225.9 | 95.6 | 130.3 | 17 |
| 2023-Q3 | 2023-11-10 | – | – | 241 | – | 176.4 | 148.6 | 27.8 | 104 |
| 2023-Q4 | 2023-11-10 | – | 17.7~ | -889.3~ | – | – | – | – | 104 |
| 2023-Q1 | 2023-11-10 | – | 319.3~ | -834.2~ | – | – | – | – | 104 |
Debt = long-term + current · Net debt = debt − cash · FCF = OCF − capex.
Net debt: company definition (includes provisions, e.g. for mining and pension obligations); a negative value means net debt. Not the house formula financial debt minus cash.
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Revenue by Type (as of 2026-Q2 · EURm · 9/13)#
Revenue split by segment or product type, exactly as the company itself reports it. Methodology
| Segment | Since | Period | Basis | Revenue | Growth | Source |
|---|---|---|---|---|---|---|
| Agriculture | 2025-H1 | 2026-Q2 | 3M | 700 | – | 26 |
| Industry+ | 2025-H1 | 2026-Q2 | 3M | 278 | – | 26 |
| Europe | FY2025 | FY2025 | 12M | 2,187.9 | – | 21 |
| Asia | FY2025 | FY2025 | 12M | 466 | – | 21 |
| South America | FY2025 | FY2025 | 12M | 438.9 | – | 21 |
| Africa, Oceania | FY2025 | FY2025 | 12M | 285.8 | – | 21 |
| North America | FY2025 | FY2025 | 12M | 269.3 | – | 21 |
| Agriculture customer segment | 2022-Q3 | 2026-H1 | 6M | 1,378.4 | – | 23 |
| Industry+ customer segment | 2022-Q3 | 2026-H1 | 6M | 660.7 | – | 23 |
| Agriculture | FY2023 | FY2024 | 12M | 2,550 | – | 6 |
| Industry+ | FY2023 | FY2024 | 12M | 1,100 | – | 6 |
| Agriculture customer segment | 2023-Q3 | 2023-Q3 | 9M | 2,039 | -39% | 2 |
| Industry+ customer segment | 2023-Q3 | 2023-Q3 | 9M | 859.6 | 2% | 2 |
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Products & M&A (12/17 active+recent)#
Product announcements from the reports; market launches, approvals, partnerships; with first mention (date) and source. Methodology
| Product/Line | Since | Status | Source |
|---|---|---|---|
| Bethune site expansion to four million tonnes capacity (3x) | 2040 | Planned | 21 |
| India potassium chloride supply contract | 2026-05 | Launched | 23 |
| Cavern development at Bethune site (2x) | 2026-03 | Planned | 21 |
| Electric Loaders (SLP-14E) - Six Units | 2026 | Planned | 21 |
| Combined heat and power plant (CHP) at Bethune site (4x) | 2025-06 | Planned | 21 |
| Cavern ramp-up development | 2025-06 | Planned | 17 |
| Waste Heat Recovery Plant - Zielitz Site | 2025 | Launched | 21 |
| KORN-KALI® coating patent filed | 2025 | Launched | 21 |
| Integration of technology for automatic detection of unsuitable drill hole starting points into drill rig control system | 2025 | Planned | 21 |
| Implementation of AI-supported software at TOMRA Sorting GmbH pilot plant for crude salt sorting | 2025 | Launched | 21 |
| Expansion of land-based learning program Mamawi Kakashihtanaw at Thomson School in Regina, Saskatchewan | 2025 | Launched | 21 |
| Biomass Plant - Borth Site | 2025 | Launched | 21 |
| Ramp-up Bethune (2x) | 2024 | Planned | 6 |
| Power-to-heat boiler at Neuhof site (3x) | 2024 | Launched | 7 |
| C:LIGHT® products launch | 2024 | Launched | 21 |
| C-LIGHT products (CO2-reduced fertilizers) | 2024 | Launched | 7 |
| C-LIGHT climate-friendly fertilizer products | 2024 | Launched | 8 |
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M&A (10)#
All recorded acquisitions (purchases) and divestitures/exits with date, short description and source; deliberately including smaller transactions that summaries often miss. Methodology
Acquisitions · 6Divestitures/exits · 4
Acquisitions
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| Werra 2060 plant renovation and transition to dry processing | 2026-06 | Completed | 26 |
| Qemetica salt business acquisition (2×) | 2026-06 | Completed | 26 |
| Bethune plant capacity expansion (2×) | 2026-06 | Completed | 8 |
| Werra 2060 (5×) | 2024 | Completed | 25 |
| Fertiva acquisition (75% of Industrial Commodities Holdings fertilizer business) | 2023-07 | Completed | 2 |
| Werra strategic project (2×) | 2023 | Completed | 3 |
Divestitures / exits
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Risks (85 since the annual report of 2026-04-23, 121 tracked in total)#
Risk factors the company itself names in its reports, merged by topic across periods, with category, first and last mention and source. Methodology
| Risk | Category | First reported | Last reported |
|---|---|---|---|
| Challenging geopolitical and macroeconomic environment affecting business. | Macro | 2026-Q2 2026-08-12 26 | 2026-Q2 2026-08-12 26 |
| Uncertain impact of Middle East conflict on future operations. | Geopolitics | FY2025 2026-03-12 27 | 2026-Q2 2026-08-12 26 |
| De-icing salt business heavily dependent on winter weather conditions in Q1 and Q4 | Supply chain | 2026-H1 2026-07-16 23 | 2026-H1 2026-07-16 23 |
| Low water levels in Ulster and Werra rivers combined with high temperatures may limit production at Werra plant | Supply chain | 2026-H1 2026-07-16 23 | 2026-H1 2026-07-16 23 |
| Low water levels and high river temperatures could complicate cooling water management and limit production at Unterbreizbach, negatively impacting EBITDA. | operazione | 2026-H1 2026-08-11 22 | 2026-H1 2026-08-11 22 |
| Contingent tax liabilities of €173.5 million from corporate transactions and cross-border matters | Legal | 2026-H1 2026-07-16 23 | 2026-H1 2026-07-16 23 |
| Impairment risk for Potash and Magnesium Products operations sensitive to price assumptions | Regulatory | 2026-H1 2026-07-16 23 | 2026-H1 2026-07-16 23 |
| Long-term mining restoration provisions of €1,407.9 million create significant long-term liability exposure. | Financial | FY2025 2026-04-23 21 | 2026-Q1 2026-04-22 25 |
| Asia accounts for 16% of 2025 revenue; Middle East deliveries via alternative costly routes potentially impacting margins. | Customers | 2025-H1 2025-08-12 16 | 2026-Q1 2026-04-22 25 |
| Ongoing conflict driving higher prices for materials, energy and freight; increased dependence on alternative logistics routes. | Supply chain | 2026-Q1 2026-04-22 25 | 2026-Q1 2026-04-22 25 |
| Non-compliance with human and labor rights by suppliers and workforce. | ESG | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| €1,575 million impairment loss on Potash and Magnesium Products cash-generating unit due to valuation uncertainties | Financial | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| €2 billion non-cash impairment on consolidated assets; remaining adjustments expected from valuation model fluctuations. | Financial | FY2025 2026-03-12 27 | FY2025 2026-03-12 27 |
| Obligations for surface securing and renaturation of mining sites extend over periods up to 72 years. | Financial | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| KSPC commitments to Indigenous communities in Canada require ongoing dialogue and relationship management. | Geopolitics | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Supply disruption from Russia and Belarus since 2022 increases importance of K+S as European supplier | Geopolitics | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Alternative transport routes from Germany to Asia available but involve higher costs and longer delivery times | Supply chain | FY2025 2026-03-12 27 | FY2025 2026-04-23 21 |
| Sustainability risks among direct suppliers related to human rights, environmental matters, and labor standards. | Supply chain | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Sudden subsidence over large areas risks mine loss, property damage, personal injury | Macro | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Skilled worker shortage project completed but ongoing labor market difficulties persist. | Macro | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Uncertainty regarding complexity may result in violations of antitrust and competition laws. | Legal | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Customer payment default risk; credit insurances cover receivables portfolio | Legal | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Hydrogeological risks in underground mining could cause total mine loss | Legal | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Werra 2060 transformation project required to meet emissions reductions and wastewater management requirements. | Regulatory | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Risks associated with permits required under water and mining laws for German production | Regulatory | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Revocation or suspension of individual operating permits by authorities could result in production discontinuation. | Regulatory | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Production projects take 10-15 years for approval; Werra 2060 scheduled delay to summer 2028 maintenance break. | Regulatory | FY2025 2026-03-12 27 | FY2025 2026-03-12 27 |
| Permanent revocation or annulment of operating permits for tailings pile disposal could force production discontinuation. | Regulatory | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Contingent tax liabilities of up to €168.0 million expected from corporate transactions. | Regulatory | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Tax loss carryforwards of €173.6 million with indefinite carryforward period; deferred tax assets not recognized for €59.2 million due to insufficient probability of positive taxable income | Regulatory | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Middle East escalation may affect logistics routes and energy availability; 16% Asia sales, 70% 2026 gas fixed | strategie | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Kassel Regional Council denied Springen mine residue storage; alternative disposal methods under exploration. | strategie | FY2025 2026-03-12 27 | FY2025 2026-03-12 27 |
| Uncontrolled CO₂ escapes from inclusions risk production cuts, personal injury | Technology | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Werra 2060 and Bethune site expansion require significant capital expenditures and project execution risks. | Technology | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Competitors ICL and APC have production in affected regions; potash market share impact cannot be estimated | Competition | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Net financial position could shift from asset position if adverse conditions occur. | Financial | 2026-H1 2026-08-11 22 | 2026-H1 2026-08-11 22 |
| Weaker agricultural commodity prices could dampen demand and reduce EBITDA. | Macro | 2026-H1 2026-08-11 22 | 2026-H1 2026-08-11 22 |
| Weaker agricultural commodity prices could deteriorate farmer yield prospects and suppress fertilizer demand | Macro | 2026-H1 2026-07-16 23 | 2026-H1 2026-07-16 23 |
| Price trends for potash determined by global supply and demand | Macro | 2026-H1 2026-07-16 23 | 2026-H1 2026-07-16 23 |
| Global potash market remains subject to geopolitical and macroeconomic uncertainties affecting pricing | Macro | 2026-H1 2026-07-16 23 | 2026-H1 2026-07-16 23 |
| Elevated energy and freight costs remain pressures, though long-term gas procurement contracts provide partial hedging | Macro | FY2024 2025-03-13 8 | 2026-H1 2026-07-16 23 |
| Salt wastewater discharge limits could constrain production, though Werra 2060 project expected to resolve by 2028 | Regulatory | 2026-H1 2026-07-16 23 | 2026-H1 2026-07-16 23 |
| Significant fluctuations in IAS 36 impairment testing factors result in €290 million impairment loss Q1 2026; sensitivity exposed. | Financial | 2026-Q1 2026-04-22 25 | 2026-Q1 2026-04-22 25 |
| EUR/USD exchange rate fluctuations affect overseas market realization with assumption revised from 1.20 to 1.17 for 2026. | Macro | 2026-Q1 2026-04-22 25 | 2026-Q1 2026-04-22 25 |
| Reliance on global potash market pricing dynamics; Brazil market prices reached USD 400/t influencing K+S realization. | Market | 2025-H1 2025-08-12 17 | 2026-Q1 2026-04-22 25 |
| Risk of corruption, bribery, and non-compliance with applicable laws. | Cyber | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Default risks of hedging transaction partners and credit line holders | Financial | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Energy availability depends on escalation duration and regional spread of Middle East conflict | Financial | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| German Company Pension Plan Act requires review every three years; inflation adjustments may increase pension obligations | Financial | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Changes in market interest rates may impact interest payable and fair values of financial instruments. | Financial | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Equity investments in plan assets expose provisions to significant market price fluctuations | Financial | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Adjusted free cash flow declined to €29.1 million from €62.4 million; net debt increased to €1,594.3 million. | Financial | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| External financial crisis could limit ability to replace credit lines or bonds at acceptable terms. | Financial | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Tax-related loss carryforward limitations could affect financial position. | Financial | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Dependence on long-term freight capacity and logistics service providers for global delivery | Supply chain | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| De-icing salt demand highly dependent on weather conditions; mild winters reduce sales volumes. | Supply chain | 2025-Q3 2025-11-11 20 | FY2025 2026-04-23 21 |
| Effects of climate change on de-icing salt business development cannot be ruled out; climate risk analysis models being examined | Macro | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Unfavorable U.S. dollar development led to €1.58 billion impairment loss in 2025 | Macro | 2025-Q3 2025-11-11 20 | FY2025 2026-04-23 21 |
| European chemical industry faces continued economic challenges with below-normal capacity utilization | Macro | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Reliance on fossil fuels for energy production and operations. | Macro | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Recent Middle East developments increased market uncertainty; impact on potassium chloride availability and logistics from competitors (~9% of 2024 potash market) cannot be assessed. | Macro | 2025-Q4 2026-03-12 14 | 2025-Q4 2026-03-12 14 |
| Oil price fluctuations affect freight rates for K+S; impact shared with competitors. | Macro | FY2025 2026-03-12 27 | FY2025 2026-03-12 27 |
| Potash price increase forecasts postponed by approximately one year according to Argus Media updates, impacting CGU valuation | Market | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Potash and magnesium prices depend on global supply-demand dynamics and agricultural cycles. | Market | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Translation risks from non-euro subsidiaries affecting earnings and equity | Market | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| USD/EUR exchange rate fluctuations significantly impact revenues and financial results through translation and transaction risks. | Market | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Cyclicality of potash business requires strong cost management and optimization during capacity excess periods | Market | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Potash market dependent on global economic conditions and agricultural cycles; spring season demand timing critical. | Market | 2025-Q4 2026-03-12 14 | 2025-Q4 2026-03-12 14 |
| Changes in general interest rate level affecting variable liabilities and investment returns | Market | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Russia and Belarus regained market position; global capacity fully utilized | Market | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Global potash demand and price fluctuations dependent on spring season progress and market conditions | Market | 2023-Q3 2023-11-10 2 | FY2025 2026-04-23 21 |
| Increase in life expectancy results in corresponding increase in pension obligation levels | People | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Contingent liabilities related to corporate transactions and cross-border activities amounted to €168.0 million. | Legal | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Investment-grade rating BBB- maintained with S&P; rating depends on capital structure and financial performance metrics. | Legal | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Various local protests and concerns regarding environmental impacts and business model, though no specific legal proceedings detailed. | Legal | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Members may breach laws, regulations; K+S risks asset/reputation damage | Regulatory | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Long-term exchange rate expectations shifted from USD/EUR 1.10 to 1.20, reducing Potash and Magnesium Products CGU recoverability by approximately €2 billion | Regulatory | 2025-H1 2025-08-12 17 | FY2025 2026-04-23 21 |
| ESRS requirements remain recent with uncertain market standard interpretation; potential implementation inconsistencies. | Regulatory | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Rating agency downgrade could negatively impact financing costs and availability | Regulatory | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Stringent regulatory requirements and administrative burdens in Germany and Europe impact competitiveness | Regulatory | FY2024 2025-03-13 8 | FY2025 2026-04-23 21 |
| Ongoing substantial capital expenditures required for Werra 2060 project and Bethune ramp-up | strategie | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Technology and system risks related to legacy infrastructure. | Technology | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Ongoing research into tailings pile coverage and alternative covering materials with uncertain efficacy. | Technology | FY2025 2026-04-23 21 | FY2025 2026-04-23 21 |
| Stricter occupational exposure limits (OELs) underground since end of August 2025 implemented with moderate adjustments to ventilation times where needed. | Legal | 2025-Q3 2025-11-11 20 | 2025-Q3 2025-11-11 20 |
| U.S. tariff policies on imports; fertilizer products currently exempted but subject to policy changes | Legal | 2025-H1 2025-08-12 17 | 2025-H1 2025-08-12 17 |
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Reported KPIs (as disclosed) (250)#
Figures the company discloses itself in addition to the standard financials; order intake, recurring revenue, user or unit counts, adjusted measures. Methodology
Company-specific KPIs verbatim from the filings (English, as disclosed; not normalised). Balance-sheet and boilerplate items filtered.
| Date | Period | KPI | Value / change | Source |
|---|---|---|---|---|
| 2026-08-12 | 2026-Q2 | sales volumes Industry plus prior year | 1.31 million tonnes | 26 |
| 2026-08-12 | 2026-Q2 | sales volumes Industry plus | 1.47 million tonnes | 26 |
| 2026-08-12 | 2026-Q2 | sales volumes Agriculture prior year | 1.74 million tonnes | 26 |
| 2026-08-12 | 2026-Q2 | sales volumes Agriculture | 1.90 million tonnes | 26 |
| 2026-08-11 | 2026-H1 | ROCE (LTM) Excluding Extraordinary Impairment Effects | 4.4 | 22 |
| 2026-08-11 | 2026-H1 | Net Financial Liabilities | 73.5 (million EUR) | 22 |
| 2026-08-11 | 2026-H1 | Agriculture ASP excl. Trade Goods | 342.8 | 22 |
| 2026-08-11 | 2026-H1 | Agriculture ASP | 343/t | 22 |
| 2026-07-16 | 2026-H1 | net cash position | 579.1 (EUR millions) | 23 |
| 2026-07-16 | 2026-H1 | market capitalization | 2.79 billion | 23 |
| 2026-07-16 | 2026-H1 | equity ratio | 62.3 | 23 |
| 2026-07-16 | 2026-H1 | Enterprise Value | 3.94 billion | 23 |
| 2026-07-16 | 2026-H1 | Book Value per Share | 30.03 | 23 |
| 2026-07-16 | 2026-H1 | Working Capital | 1,269.3 (EUR € million) | 23 |
| 2026-07-16 | 2026-H1 | ROCE LTM excl. Extraordinary | 4.4 | 23 |
| 2026-07-16 | 2026-H1 | Net Financial Liabilities (-)/Net Asset Position (+) | 73.5 (EUR € million) | 23 |
| 2026-05-08 | 2026-Q1 | Sales volumes Industry+ customer segment | 2.62 (EUR million tonnes) | 28 |
| 2026-05-08 | 2026-Q1 | Sales volumes Agriculture customer segment | 2.00 (EUR million tonnes) | 28 |
| 2026-05-08 | 2026-Q1 | ROCE (LTM) | 2.9 | 28 |
| 2026-05-08 | 2026-Q1 | Net Financial Liabilities | 37.5 (in millions) | 28 |
| 2026-05-08 | 2026-Q1 | EBITDA Margin | 26.3 | 28 |
| 2026-05-08 | 2026-Q1 | Average selling price Agriculture segment | 336 | 28 |
| 2026-04-22 | 2026-Q1 | Total Shares Outstanding | 179.1 (million) | 25 |
| 2026-04-22 | 2026-Q1 | Sales Volumes Agriculture Excluding Trade | 1.97 (EUR million tonnes) | 25 |
| 2026-04-22 | 2026-Q1 | ROCE LTM Excluding Impairment | 2.9 | 25 |
| 2026-04-22 | 2026-Q1 | ROCE LTM | -22.4 | 25 |
| 2026-04-22 | 2026-Q1 | Market Capitalization | 2.92 (EUR € billion) | 25 |
| 2026-04-22 | 2026-Q1 | Equity Ratio | 62.2 | 25 |
| 2026-04-22 | 2026-Q1 | Enterprise Value | 4.51 (EUR € billion) | 25 |
| 2026-04-22 | 2026-Q1 | EBITDA Margin Prior Year | 20.8 | 25 |
| 2026-04-22 | 2026-Q1 | EBITDA Margin | 26.3 | 25 |
| 2026-04-22 | 2026-Q1 | De-Icing Salt Volumes | 1.49 (million tonnes) | 25 |
| 2026-04-22 | 2026-Q1 | Book Value per Share | 26.46 | 25 |
| 2026-04-22 | 2026-Q1 | Average price Agriculture Q4 2025 | €328/t | 25 |
| 2026-04-22 | 2026-Q1 | Average price Agriculture | €336/t | 25 |
| 2026-04-23 | FY2025 | Trainee retention rate | around 83% | 21 |
| 2026-04-23 | FY2025 | Trademark rights | 1,886 | 21 |
| 2026-04-23 | FY2025 | Total benefit implemented ideas | €10.3 million | 21 |
| 2026-04-23 | FY2025 | Taxonomy aligned turnover ratio | 1.5% | 21 |
| 2026-04-23 | FY2025 | taxonomy aligned capex | €9.1 million | 21 |
| 2026-04-23 | FY2025 | sustainability risk assessment coverage | 81.0% | 21 |
| 2026-04-23 | FY2025 | supplier code of conduct coverage | 93.9% | 21 |
| 2026-04-23 | FY2025 | specific CO2 emissions | 259.7 | 21 |
| 2026-04-23 | FY2025 | patent families | 41 | 21 |
| 2026-04-23 | FY2025 | occupational accidents with lost time | 97 | 21 |
| 2026-04-23 | FY2025 | net probability translation risks | possible | 21 |
| 2026-04-23 | FY2025 | net probability liquidity | unlikely | 21 |
| 2026-04-23 | FY2025 | net probability interest rate level | possible | 21 |
| 2026-04-23 | FY2025 | national patent rights | 119 | 21 |
| 2026-04-23 | FY2025 | LTI rate | 5.5 | 21 |
| 2026-04-23 | FY2025 | ideas submitted | 9,619 | 21 |
| 2026-04-23 | FY2025 | ideas implementation rate | 58% | 21 |
| 2026-04-23 | FY2025 | health safety management system coverage | 99.3% | 21 |
| 2026-04-23 | FY2025 | donations | €0.5 million | 21 |
| 2026-04-23 | FY2025 | critical suppliers code acceptance | 98.2% | 21 |
| 2026-04-23 | FY2025 | compliance training completion functions at risk | 97.0% | 21 |
| 2026-04-23 | FY2025 | basic trademarks | 377 | 21 |
| 2026-04-23 | FY2025 | average training duration per employee Germany | 8.4 hours | 21 |
| 2026-04-23 | FY2025 | available liquidity | 1,125 (million €) | 21 |
| 2026-04-23 | FY2025 | Antitrust training completion functions at risk | 80.9% | 21 |
| 2026-04-23 | FY2025 | Working capital | 1,086.1 (EUR € million) | 21 |
| 2026-04-23 | FY2025 | Weighted average duration of obligations (2025) | 12 years | 21 |
| 2026-04-23 | FY2025 | Weighted average duration of obligations (2024) | 14 years | 21 |
| 2026-04-23 | FY2025 | Total dividend (proposed) | €12.5 million | 21 |
| 2026-04-23 | FY2025 | Specific CO2 emissions | 259.7 | 21 |
| 2026-04-23 | FY2025 | Shares outstanding Dec 31 | 179.1 (million) | 21 |
| 2026-04-23 | FY2025 | Secured percentage (2025) | 86% | 21 |
| 2026-04-23 | FY2025 | Secured percentage (2024) | 86% | 21 |
| 2026-04-23 | FY2025 | Salt and brine production capacity | 9 million tonnes | 21 |
| 2026-04-23 | FY2025 | Sales volumes Industry segment | 6.26 (EUR million tonnes) | 21 |
| 2026-04-23 | FY2025 | Sales volumes Agriculture segment | 7.6 million tonnes | 21 |
| 2026-04-23 | FY2025 | Sales volumes Agriculture segment | 7.31 (EUR million tonnes) | 21 |
| 2026-04-23 | FY2025 | Risk-free interest rate (2025) | 3.50% | 21 |
| 2026-04-23 | FY2025 | Risk-free interest rate (2024) | 2.50% | 21 |
| 2026-04-23 | FY2025 | Return on total investments adjusted | 2.4 (EUR %) | 21 |
| 2026-04-23 | FY2025 | Return on revenue adjusted | 3.4 (EUR %) | 21 |
| 2026-04-23 | FY2025 | Return on equity after tax adjusted | 2.6 (EUR %) | 21 |
| 2026-04-23 | FY2025 | Return on equity (2025) | 9.8% | 21 |
| 2026-04-23 | FY2025 | Return on equity (2024) | 10.2% | 21 |
| 2026-04-23 | FY2025 | ROCE adjusted | 1.9 | 21 |
| 2026-04-23 | FY2025 | ROCE | 1.9 | 21 |
| 2026-04-23 | FY2025 | Potash production capacity | 8 million tonnes | 21 |
| 2026-04-23 | FY2025 | Plan assets - Shares (2025) | 101.7 (in € million) | 21 |
| 2026-04-23 | FY2025 | Plan assets - Shares (2024) | 87.8 (in € million) | 21 |
| 2026-04-23 | FY2025 | Plan assets - Reinsurance arrangements (2025) | 45.2 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Plan assets - Reinsurance arrangements (2024) | 46.5 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Plan assets - Other equity investments (2025) | 62.4 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Plan assets - Other equity investments (2024) | 65.1 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Plan assets - Other (2025) | 6.4 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Plan assets - Other (2024) | 4.4 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Plan assets - Cash and cash equivalents (2025) | 0.5 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Plan assets - Cash and cash equivalents (2024) | 11.0 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Plan assets - Bonds (2025) | 71.5 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Plan assets - Bonds (2024) | 73.0 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Ownership interest (REKS GmbH & Co. KG) | 50% | 21 |
| 2026-04-23 | FY2025 | Ownership interest (K+S Baustoffrecycling GmbH) | 50% | 21 |
| 2026-04-23 | FY2025 | Outstanding shares (2025) | 179.1 (in € million) | 21 |
| 2026-04-23 | FY2025 | Outstanding shares (2024) | 179.1 (in € million) | 21 |
| 2026-04-23 | FY2025 | Outstanding shares (2023) | 179.1 (in € million) | 21 |
| 2026-04-23 | FY2025 | Net retained profits (2025) | 134.5 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Net retained profits (2024) | 26.9 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Net financial liabilities to EBITDA ratio | 0.4 | 21 |
| 2026-04-23 | FY2025 | Net financial liabilities to EBITDA | 0.1 (EUR millions) | 21 |
| 2026-04-23 | FY2025 | Net debt to equity pct | 32.6 | 21 |
| 2026-04-23 | FY2025 | Market risk premium (2025) | 6.50% | 21 |
| 2026-04-23 | FY2025 | Market risk premium (2024) | 6.75% | 21 |
| 2026-04-23 | FY2025 | Market Capitalization | 2.2 (EUR € billion) | 21 |
| 2026-04-23 | FY2025 | LTI rate | 5.5 | 21 |
| 2026-04-23 | FY2025 | Issued capital (2025) | 179.1 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Issued capital (2024) | 179.1 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Issued capital (2023) | 179.1 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Gross margin | 12.6 | 21 |
| 2026-04-23 | FY2025 | Equity ratio pct | 63.5 | 21 |
| 2026-04-23 | FY2025 | Equity Ratio | 63.5 | 21 |
| 2026-04-23 | FY2025 | Equity (REKS GmbH & Co. KG 2025) | 288.9 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Equity (REKS GmbH & Co. KG 2024) | 285.2 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Equity (K+S Baustoffrecycling GmbH 2025) | 42.3 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Equity (K+S Baustoffrecycling GmbH 2024) | 47.5 (EUR in € million) | 21 |
| 2026-04-23 | FY2025 | Enterprise Value | 3.8 (EUR € billion) | 21 |
| 2026-04-23 | FY2025 | EBITDA Margin | 16.8 | 21 |
| 2026-04-23 | FY2025 | Dividend per share (proposed) | 7 cents | 21 |
| 2026-04-23 | FY2025 | Dividend per share | 0.07 | 21 |
| 2026-04-23 | FY2025 | Dividend per share | 0.07 | 21 |
| 2026-04-23 | FY2025 | Discount rate - Salt CGU (2025) | 8.2% | 21 |
| 2026-04-23 | FY2025 | Discount rate - Salt CGU (2024) | 8.3% | 21 |
| 2026-04-23 | FY2025 | Discount rate - Potash and Magnesium Products CGU (2025) | 8.2% | 21 |
| 2026-04-23 | FY2025 | Discount rate - Potash and Magnesium Products CGU (2024) | 8.3% | 21 |
| 2026-04-23 | FY2025 | Debt ratio (2025) | 31.0% | 21 |
| 2026-04-23 | FY2025 | Debt ratio (2024) | 31.0% | 21 |
| 2026-04-23 | FY2025 | Conditional capital | €17,910,000.00 | 21 |
| 2026-04-23 | FY2025 | Closing price Dec 31 Xetra | 12.42 | 21 |
| 2026-04-23 | FY2025 | Capital costs before tax (2025) | €852.4 million | 21 |
| 2026-04-23 | FY2025 | Capital costs before tax (2024) | €963.9 million | 21 |
| 2026-04-23 | FY2025 | Book Value per Share | 27.3 | 21 |
| 2026-04-23 | FY2025 | Beta factor (2025) | 0.96 | 21 |
| 2026-04-23 | FY2025 | Beta factor (2024) | 0.96 | 21 |
| 2026-04-23 | FY2025 | Average price Agriculture segment | 332.0 | 21 |
| 2026-04-23 | FY2025 | Average interest rate on debt before tax (2025) | 4.4% | 21 |
| 2026-04-23 | FY2025 | Average interest rate on debt before tax (2024) | 3.2% | 21 |
| 2026-04-23 | FY2025 | Average capital employed (2025) | €7,285.6 million | 21 |
| 2026-04-23 | FY2025 | Available liquidity | 1,124.5 (in € million) | 21 |
| 2026-04-23 | FY2025 | Authorized capital | €35,820,000.00 | 21 |
| 2026-03-12 | FY2025 | Dividend per share | 7 cents | 27 |
| 2026-03-12 | FY2025 | Dividend payout ratio | 43 percent | 27 |
| 2026-03-12 | FY2025 | Werra 2060 project budget | around €600 million | 27 |
| 2026-03-12 | FY2025 | Industry Plus segment sales volume | 6.3 million tonnes | 27 |
| 2026-03-12 | FY2025 | Industry Plus segment revenue | €1.1 billion | 27 |
| 2026-03-12 | FY2025 | Canada potash production target 2040 | 4 million tonnes | 27 |
| 2026-03-12 | FY2025 | Canada potash production current | 2.3 million tonnes | 27 |
| 2026-03-12 | FY2025 | CO2 emissions reduction since 1990 | around 80 percent | 27 |
| 2026-03-12 | FY2025 | Agriculture segment sales volume | 7.3 million tonnes | 27 |
| 2026-03-12 | FY2025 | Agriculture segment revenue | €2.5 billion | 27 |
| 2026-03-13 | 2025-Q4 | Return on Capital Employed (LTM) | 1.9 (EUR %) | 12 |
| 2026-03-13 | 2025-Q4 | Net financial liabilities/EBITDA (LTM) | 2.2 (EUR x-times) | 12 |
| 2026-03-13 | 2025-Q4 | Market capitalization as of December 31 | 3.8 (EUR € billion) | 12 |
| 2026-03-13 | 2025-Q4 | Equity Ratio | 63.5 | 12 |
| 2026-03-13 | 2025-Q4 | Enterprise value (EV) as of December 31 | 3.8 (EUR € billion) | 12 |
| 2026-03-13 | 2025-Q4 | EBITDA Margin | 20.6 | 12 |
| 2026-03-12 | 2025-Q4 | ROCE (LTM; %) (excluding extraordinary impairment effect) | 1.9 | 14 |
| 2026-03-12 | 2025-Q4 | Industry+ turnover (t/o Industry+) | 283 (€ million) | 14 |
| 2026-03-12 | 2025-Q4 | Depreciation | 120 (€ million) | 14 |
| 2026-03-12 | 2025-Q4 | Agriculture turnover (t/o Agriculture) | 650 (€ million) | 14 |
| 2026-03-12 | 2025-Q4 | Agriculture sales volumes (excl. trade goods) | 1.87 million tonnes | 14 |
| 2026-03-12 | 2025-Q4 | ASP (excl. trade goods) | 328 €/t | 14 |
| 2025-11-11 | 2025-Q3 | Total number of shares as of September 30 | 179.1 (million) | 19 |
| 2025-11-11 | 2025-Q3 | ROCE LTM Excluding Impairment | 0.8 | 20 |
| 2025-11-11 | 2025-Q3 | ROCE LTM | -29.0 | 20 |
| 2025-11-11 | 2025-Q3 | ROCE (LTM) Excluding Extraordinary Impairment Effects | 0.8 | 19 |
| 2025-11-11 | 2025-Q3 | Net asset position | 13.4 (EUR in € million) | 20 |
| 2025-11-11 | 2025-Q3 | Market capitalization as of September 30 | 2.07 (EUR € billion) | 19 |
| 2025-11-11 | 2025-Q3 | Market Capitalization | 2.07 (EUR € billion) | 20 |
| 2025-11-11 | 2025-Q3 | Equity Ratio | 59.9 | 20 |
| 2025-11-11 | 2025-Q3 | Enterprise value (EV) as of September 30 | 3.66 (EUR € billion) | 19 |
| 2025-11-11 | 2025-Q3 | Enterprise Value | 3.66 (EUR € billion) | 20 |
| 2025-11-11 | 2025-Q3 | EBITDA Margin | 12.6 | 20 |
| 2025-11-11 | 2025-Q3 | Book Value per Share | 23.83 | 20 |
| 2025-11-11 | 2025-Q3 | Average selling price Agriculture | 336.5 | 20 |
| 2025-11-11 | 2025-Q3 | ASP Agriculture (excl. trade goods) Q3/2025 | 336/t | 19 |
| 2025-11-11 | 2025-Q3 | ASP Agriculture (excl. trade goods) Q3/2024 | 305/t | 19 |
| 2025-08-12 | 2025-H1 | Total number of shares as of June 30 | 179.1 (million) | 17 |
| 2025-08-12 | 2025-H1 | ROCE LTM excl. extraordinary impairment effects | 0.0 | 17 |
| 2025-08-12 | 2025-H1 | Return on Capital Employed LTM | -29.6 (EUR %) | 17 |
| 2025-08-12 | 2025-H1 | Market capitalization as of June 30 | 2.25 (EUR € billion) | 17 |
| 2025-08-12 | 2025-H1 | equity ratio | 60.2 | 17 |
| 2025-08-12 | 2025-H1 | Enterprise value as of June 30 | 3.60 (EUR € billion) | 17 |
| 2025-08-12 | 2025-H1 | Book value per share as of June 30 | 35.65 | 17 |
| 2025-08-12 | 2025-H1 | Average price Agriculture customer segment Q2 2025 | 339.0 | 17 |
| 2025-08-12 | 2025-H1 | Average price Agriculture customer segment H1 2025 | 334.3 | 17 |
| 2025-08-12 | 2025-H1 | Working Capital | 1,119.7 (EUR € million) | 17 |
| 2025-08-12 | 2025-H1 | Shares outstanding as of June 30 | 179.1 (million) | 16 |
| 2025-08-12 | 2025-Q2 | Sales volumes Industry+ (Q2) | 1.31 million tonnes | 18 |
| 2025-08-12 | 2025-Q2 | Sales volumes Agriculture (Q2, excluding trade goods) | 1.74 million tonnes | 18 |
| 2025-08-12 | 2025-H1 | ROCE (LTM) Excluding Extraordinary Impairment Effects | 0.0 | 16 |
| 2025-08-12 | 2025-H1 | Net financial liabilities/EBITDA (LTM) | 0.0 (EUR x-times) | 16 |
| 2025-08-12 | 2025-H1 | Net financial liabilities / net asset position as of June 30 | -7.1 (EUR € million) | 16 |
| 2025-08-12 | 2025-H1 | Net Financial Liabilities | -7.1 (€ million) | 17 |
| 2025-08-12 | 2025-H1 | Industry+ customer segment revenues | 553.6 (EUR € million) | 17 |
| 2025-08-12 | 2025-Q2 | Average selling price (Agriculture) | €336/t | 18 |
| 2025-08-12 | 2025-H1 | Average number of shares | 179.1 (million) | 16 |
| 2025-08-12 | 2025-H1 | Agriculture customer segment revenues | 1,282.3 (EUR € million) | 17 |
| 2025-03-13 | FY2024 | New conveyor belt systems Werra 2060 | rund 15 Kilometer | 7 |
| 2025-03-13 | FY2024 | Planned annual increase Bethune | 100 bis 150 Tausend Tonnen | 7 |
| 2025-03-13 | FY2024 | Planned potash production Bethune through 2040 | 4 Millionen Tonnen | 7 |
| 2025-03-13 | FY2024 | Planned capital expenditure 2025 | insgesamt rund 550 Millionen Euro | 7 |
| 2025-03-13 | FY2024 | Current potash production Bethune | 2,2 Millionen Tonnen | 7 |
| 2025-03-13 | FY2024 | Revenue decline 2024 vs. prior year | 6 Prozent | 7 |
| 2025-03-13 | FY2024 | Specialty fertilizers sales volumes (Agriculture segment) | just under 3.2 million tonnes | 8 |
| 2025-03-13 | FY2024 | Salt products sales volumes Industry+ customer segment | knapp 6,6 Millionen Tonnen | 7 |
| 2025-03-13 | FY2024 | Sales volumes (Industry+ segment) | just under 6.6 million tonnes | 8 |
| 2025-03-13 | FY2024 | Sales volumes (Agriculture segment, excluding trade goods) | 7.6 million tonnes | 8 |
| 2025-03-13 | FY2024 | Potassium chloride deliveries (Agriculture segment) | about 58 percent | 8 |
| 2025-03-13 | FY2024 | Potash production target (Bethune, Canada) | 4 million tonnes | 8 |
| 2025-03-13 | FY2024 | Planned capital expenditure (2025) | around €550 million | 8 |
| 2025-03-13 | FY2024 | Potassium chloride share | 58 Prozent | 7 |
| 2025-03-13 | FY2024 | Specialty fertilizers sales volume | knapp 3,2 Millionen Tonnen | 7 |
| 2025-03-13 | FY2024 | Dividend per share 2024 | 15 Cent | 7 |
| 2025-03-13 | FY2024 | Dividend per share | 15 Cent | 6 |
| 2025-03-13 | FY2024 | Dividend per share | 15 cents | 8 |
| 2025-03-13 | FY2024 | Dividend payout ratio | 43% | 8 |
| 2025-03-13 | FY2024 | Current potash production (Bethune, Canada) | 2.2 million tonnes | 8 |
| 2025-03-13 | FY2024 | Total distribution | 27 Mio. € | 6 |
| 2025-03-13 | FY2024 | Payout ratio | 43 % | 6 |
| 2025-03-13 | FY2024 | Payout ratio | 43 Prozent | 7 |
| 2025-03-13 | FY2024 | Sales volume agriculture segment (excl. trading goods) | 7,6 Mio. t | 6 |
| 2025-03-13 | FY2024 | Sales volume industry+ segment | 6,58 Mio. t | 6 |
| 2025-03-13 | FY2024 | Overseas agriculture sales | 4,45 Mio. t | 6 |
| 2025-03-13 | FY2024 | Sales agriculture segment (excl. trading goods) | 7,6 Millionen Tonnen | 7 |
| 2025-03-13 | FY2024 | Europe agriculture sales | 3,45 Mio. t | 6 |
| 2024-03-14 | FY2023 | Proposed dividend per share | 0,70 € | 3 |
| 2024-03-14 | FY2023 | Total distribution | 125 Mio. € | 3 |
| 2024-03-14 | FY2023 | Payout ratio | 40 % | 3 |
| 2023-11-13 | 2023-Q3 | Total number of shares | 191.4 (million) | 1 |
| 2023-11-13 | 2023-Q3 | Shares outstanding | 191.4 (million) | 1 |
| 2023-11-13 | 2023-Q3 | Sales volumes (Industry+) | 1.55 (EUR million tonnes) | 1 |
| 2023-11-13 | 2023-Q3 | Sales volumes (Agriculture) | 1.87 (EUR million tonnes) | 1 |
| 2023-11-13 | 2023-Q3 | Return on Capital Employed (LTM) | 8.3 (EUR %) | 1 |
| 2023-11-13 | 2023-Q3 | Market Capitalization | 3.17 (EUR € billion) | 1 |
| 2023-11-13 | 2023-Q3 | Equity Ratio | 70.9 | 1 |
| 2023-11-13 | 2023-Q3 | Enterprise Value | 4.06 (EUR € billion) | 1 |
| 2023-11-13 | 2023-Q3 | De-icing salt sales volumes | 0.44 (EUR million tonnes) | 1 |
| 2023-11-13 | 2023-Q3 | Average price (Agriculture) | 331 | 1 |
| 2023-11-10 | 2023-Q3 | Enterprise value (EV) | 4,06 Mrd. € | 2 |
| 2023-11-10 | 2023-Q3 | Return on Capital Employed (LTM) | 8,3 % | 2 |
| 2023-11-10 | 2023-Q3 | Net asset position | 241,0 | 2 |
| 2023-11-10 | 2023-Q3 | Market capitalization | 3,17 Mrd. € | 2 |
| 2023-11-10 | 2023-Q3 | Total shares outstanding | 191,4 | 2 |
| 2023-11-10 | 2023-Q3 | Equity ratio | 70,9 % | 2 |
| 2023-11-10 | 2023-Q3 | EBITDA margin | 8,2 % | 2 |
| 2023-11-10 | 2023-Q3 | Book value per share | 35,97 € | 2 |
| 2023-11-10 | 2023-Q3 | Shares outstanding | 184,5 | 2 |
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Guidance Tracking (latest per metric/period · 25/26)#
All management forecasts (guidance) and their later outcome. Methodology
| For period | Guided on | Metric | Guided | Actual | Verdict | Direction | Source |
|---|---|---|---|---|---|---|---|
| FY2026 | 2026-08-11 | De-icing salt volumes | 2.6 | – | pending | raised | 22 |
| FY2026 | 2026-07-16 | EBITDA | 680–760 | – | pending | confirmed | 26 |
| FY2026 | 2026-07-16 | Sales volumes Agriculture customer segment | 7.4–7.6 | – | pending | confirmed | 22 |
| FY2026 | 2026-07-16 | Average price in Agriculture customer segment | -332 | – | pending | confirmed | 23 |
| FY2026 | 2026-07-16 | Sales volumes de-icing salt | 2.6 | – | pending | raised | 23 |
| FY2026 | 2026-05-08 | Capex | 600 | – | pending | confirmed | 26 |
| FY2026 | 2026-05-08 | Agriculture customer segment sales volumes | 7.4–7.6 | – | pending | confirmed | 28 |
| FY2026 | 2026-05-08 | De-icing salt sales volumes | 2.5 | – | pending | raised | 28 |
| FY2026 | 2026-04-22 | Tax rate | higher than in 2025 | – | pending | confirmed | 28 |
| FY2026 | 2026-04-22 | Sales volumes Agriculture customer segment (excluding trade goods) | 7.4–7.6 | – | pending | confirmed | 25 |
| FY2026 | 2026-04-22 | Average price in Agriculture customer segment (excluding trade goods) | -332 | – | pending | raised | 25 |
| FY2026 | 2026-03-13 | Sales volumes Agriculture customer segment (excl. trade goods) | 7.4–7.6 | – | pending | confirmed | 12 |
| FY2026 | 2026-03-13 | Average price in Agriculture customer segment adj. by trade goods | -332 | – | pending | cut | 12 |
| FY2025 | 2025-11-11 | Tax rate | 100 | – | – | raised | 20 |
| FY2025 | 2025-11-11 | EBITDA | 570–630 | 612.8 | in line | confirmed | 19 |
| FY2025 | 2025-11-11 | Sales volumes Agriculture customer segment | 7.4 | – | – | cut | 19 |
| FY2025 | 2025-11-11 | Sales volumes Agriculture customer segment (excluding trade goods) | 7.4 | – | – | cut | 20 |
| FY2025 | 2025-08-12 | Capex | 550 | – | – | confirmed | 19 |
| FY2025 | 2025-08-12 | Average price in Agriculture customer segment in the full year (excluding trade goods) | -330–25 | – | – | confirmed | 20 |
| FY2025 | 2025-08-12 | Sales volumes de-icing salt | 2 | – | – | confirmed | 20 |
| FY2025 | 2025-08-12 | Sales volumes Agriculture segment | 7.5–7.7 | – | – | confirmed | 18 |
| FY2023 | 2023-11-13 | Adjusted Free Cash Flow | 300–450 | – | pending | confirmed | 1 |
| FY2023 | 2023-11-10 | EBITDA | 600–800 | – | pending | confirmed | 1 |
| FY2023 | 2023-11-10 | Adjusted Free Cash Flow | 300–450 | – | pending | confirmed | 2 |
| FY2023 | 2023-11-10 | Capital Expenditure | 550 | – | pending | confirmed | 2 |
| FY2024 | 2024-03-14 | EBITDA | 500–650 | 557.7 | in line | initiated | 3 |
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Development#
A condensed summary per reporting period as running text: what changed operationally, which drivers management names, how earnings and cash flow developed. Methodology
FY2026
K+S Group revenues rose 10.0% to 1,060.8 million in Q1 2026 25 and 12.3% to 978.3 million in Q2 2026 22, supported by higher realised prices in the Agriculture segment and robust de-icing salt volumes in Industry+. H1 2026 EBITDA reached €455 million from €310 million in H1 2025, and full-year EBITDA guidance was raised twice during the period, ending at €680 to 760 million after Q2 23. A €290 million impairment charge on property, plant and equipment recognised in Q1 reduced net income to -156.9 million in that quarter 25, while a net positive impairment effect in H1 contributed to H1 group net income of €489.5 million 23. K+S agreed to acquire Qemetica's salt business in Poland and Germany for €350 to 380 million, financed in part through a €320 million convertible bond placement, with closing expected in Q1 2027 23.
FY2025
K+S Group revenues of 3,647.9 million in 2025 remained largely stable versus the prior year, as price increases in both the Agriculture and Industry+ segments offset lower sales volumes and negative currency effects 21. EBITDA reached €612.8 million, at the upper end of the anticipated guidance range, supported by higher prices for potash, magnesium, and salt products 21. A non-cash impairment loss of €1,575 million was recorded on the Potash and Magnesium Products cash-generating unit over the course of the year, arising from an initial €2,063 million charge in H1 2025, primarily attributable to USD depreciation against the euro and a revised long-term EUR/USD exchange rate assumption, and partially reversed by €488 million at year-end, resulting in a full-year reported net loss of €1,075.5 million 21. Adjusted free cash flow reached €29.1 million despite elevated capital expenditures of €545.8 million directed at the Werra 2060 transformation project and the Bethune site ramp-up in Canada 21. Operating cash flow was 572.7 million, with cash and cash equivalents closing the year at 433.8 million 21.
FY2024
K+S reported full-year 2024 revenues of EUR 3,653.1 millionm, lower year-on-year as lower potash prices were only partially offset by higher sales volumes and an improved product mix 7. EBITDA reached €558 million, within management's guided corridor but below the prior-year level of €712 million 6. Full-year net income was EUR 11.4 millionm and adjusted free cash flow exceeded break-even at just over €62 million, ahead of management's own guidance 8. K+S eliminated its net financial debt during the year and its credit rating returned to investment-grade territory 7. The company completed the divestiture of its American salt business (OU Americas) and launched the Werra 2060 transformation project alongside the Bethune potash plant ramp-up in Canada 7.
FY2023
K+S Group revenues in FY 2023 fell below the 2022 record level, driven primarily by significantly lower average prices in the Agriculture customer segment 3. In Q3 2023, Group revenues reached 880.8 million, down from €1,469.9 million in the prior-year quarter, as average potash prices in the Agriculture segment declined to €331 per tonne from €745 per tonne in Q3 2022 1. Nine-month revenues fell to €2,898.6 million from €4,192.2 million in the same period of 2022, with higher Agriculture sales volumes of 1.87 million tonnes partly mitigating the price headwind 2. Full-year EBITDA came in significantly below the 2022 record but exceeded analyst consensus estimates, while adjusted free cash flow declined due to elevated capital investment activity 3. K+S expanded its Southern African fertilizer presence through the acquisition of 75% of the fertilizer business of Industrial Commodities Holdings, now operating as Fertiva (Pty) Ltd., and adopted a new distribution policy targeting a payout of 30% to 50% of annually generated adjusted free cash flow, with a proposed dividend of €0.70 per share for FY 2023 2 3.
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Glossary#
- Revenue: Revenue from contracts with customers, net of sales deductions, as the company itself reports it; not total output, gross revenue, GMV or order intake.
- Op. income: The operating line of the income statement; EBIT only as a marked fallback, never pre-tax or ordinary income.
- Net income: Net income attributable to the shareholders of the parent, after discontinued operations; not the result including minority interests, not comprehensive income.
- EPS: Diluted earnings per share attributable to the shareholders of the parent; a printed figure always beats a calculated one, calculated values are marked.
- EPS adj.: Adjusted earnings per share, verbatim and company-defined (non-GAAP).
- FCF: Free cash flow = operating cash flow minus capital expenditure on property, plant and equipment; the company's own free cash flow figure is shown separately.
- OCF: Cash flow from operating activities as reported; IFRS companies may show interest paid in financing cash flow, so the figure is not always comparable.
- Cash: Cash and cash equivalents, without securities unless the company reports them as part of the position.
- Net Debt: Net debt = financial debt excluding lease liabilities minus cash at the same reporting date; the company's own net position may differ.
- *: derived, the formula is in the hover
- ≈: calculated, approximation
- ~: uncertain; the value stays visible, verdicts do not use it
- °: repaired by a targeted query against the document, or curated with documentary evidence
- EBIT: EBIT as a fallback: the income statement carries no operating line
- basic: basic earnings per share as a fallback when diluted is missing
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Sources: quarterly reports, annual reports and investor relations documents#
All original documents NadirAlpha used for this report, with type (quarterly report, half-year report, annual report, earnings release), publication date and a direct link to the filing (EDINET/SEC/IR). Methodology
28 documents · 2023 to 2026 · IR
| # | Document type | Published | Link |
|---|---|---|---|
| #2 / #104 | IR-Quarter quarterly report | 2023-11-10 | Open |
| #1 | IR-Quarter quarterly report | 2023-11-13 | Open |
| #3 | IR-Annual annual report | 2024-03-14 | Open |
| #4 | IR-Half half-year report | 2024-08-14 | Open |
| #5 | IR-Quarter quarterly report | 2024-11-14 | Open |
| #6 | IR-Annual annual report | 2025-03-13 | Open |
| #7 | IR-Annual annual report | 2025-03-13 | Open |
| #8 | IR-Report report | 2025-03-13 | Open |
| #9 | IR-Half half-year report | 2025-08-12 | Open |
| #10 | IR-Half half-year report | 2025-08-12 | Open |
| #16 | IR-Half half-year report | 2025-08-12 | Open |
| #17 / #124 | IR-Half half-year report | 2025-08-12 | Open |
| #18 | IR-Quarter quarterly report | 2025-08-12 | Open |
| #11 | IR-Quarter quarterly report | 2025-11-11 | Open |
| #19 | IR-Quarter quarterly report | 2025-11-11 | Open |
| #20 / #127 | IR-Quarter quarterly report | 2025-11-11 | Open |
| #14 | IR-Quarter quarterly report | 2026-03-12 | Open |
| #15 | IR-Quarter quarterly report | 2026-03-12 | Open |
| #27 | IR-Annual annual report | 2026-03-12 | Open |
| #12 | IR-Quarter quarterly report | 2026-03-13 | Open |
| #25 / #134 | IR-Quarter quarterly report | 2026-04-22 | Open |
| #21 / #128 | IR-Annual annual report | 2026-04-23 | Open |
| #28 | IR-Quarter quarterly report | 2026-05-08 | Open |
| #13 | IR-Quarter quarterly report | 2026-06-23 | Open |
| #23 / #131 | IR-Half half-year report | 2026-07-16 | Open |
| #22 | IR-Half half-year report | 2026-08-11 | Open |
| #24 | IR-Half half-year report | 2026-08-12 | Open |
| #26 | IR-Quarter quarterly report | 2026-08-12 | Open |
FAQ#
Is there a management forecast (guidance) for FY2026?
Yes. Management has issued targets for FY2026, including De-icing salt volumes. The guidance tracking chapter shows all targets and checks them against the actuals reported later; neutral, with no estimate of our own.
Does K+S AG pay a dividend?
The filings report on the dividend; most recent entry: dividends paid €12.5 million (FY2025) (as reported, no assessment of our own). Details with source links are in the report chapters.
Where can I find the official investor relations documents of K+S AG?
NadirAlpha links all 34 original filings used (IR documents) in the sources chapter: quarterly report, half-year report, annual report, each with type, publication date and a direct link; every figure in the report carries a source number.
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