K+s Ag · XETR:SDF
K+s — K+S Aktiengesellschaft — Q1 2023 Earnings Presentation
14 slides from K+s's earnings presentation, May 13, 2023
Slide 1: Q1/2023 Results
May 09, 2023 Q1/2023 Results Dr. Burkhard Lohr Dr. Christian H. Meyer CEO CFO
Slide 2: Disclaimer
Disclaimer No reliance may be placed for any purpose whatsoever on the information or opinions contained in the Presentation or on its completeness, accuracy of fairness. No representation or warranty, express or implied, is made or given by or on behalf of the Company or any of its respective direc
Slide 3: Good start into 2023 after record 2022
Good start into 2023 after record 2022… Revenues in €m EBITDA in €m Free cash flow adj in €m 1.212 524 1.192 113 454 103 733 126 -15 Q1/2021 Q1/2022 Q1/2023 Q1/2021 Q1/2022 Q1/2023 Q1/2021 Q1/2022 Q1/2023 3
Slide 4: Q1/23 EBITDA decreased YoY
Q1/23 EBITDA decreased YoY Highlights Financials ▪ Q1/23 EBITDA at €454m (Q1/22: €524m) € million Q1/2022 Q1/2023 % ▪ Moderately lower average selling prices and slight declines in sales Revenues 1,212 1,192 -2 volumes due to delayed deliveries in view of continued tight logistics and a persistent w
Slide 5: ASP development in Agriculture customer segment
ASP development in Agriculture customer segment 2021 Q1/22 Q2/22 Q3/22 Q4/22 2022 Q1/23 Revenues € million 2,272.1 944.1 1,244.2 1,162.8 1,114.6 4,465.6 861.4 Europe € million 950.9 349.9 543.0 372.0 406.8 1,671.6 340.1 Overseas USD million 1,562.5 666.5 746.5 796.3 722.3 2,931.6 559.3 Potassium chl
Slide 6: Outlook
Outlook 6
Slide 7: Low stocks-to-use ratios and unfavorable climate keep agricultural commodity prices up
Low stocks-to-use ratios and unfavorable climate around the world keep agricultural commodity prices up and farmer profitability at high level Price development of important agricultural commodities US corn farmer profitability in USD/acre since 01/1996 since 01/2020 220 Corn 200 Soybeans 180 160 14
Slide 8: World potash production and sales volumes by region
World potash production and sales volumes by region in million tonnes ▪ Even before limitation of Russian 28 exports and sanctions against Belarus, the potash market was fully used at 25 capacity limit. 33 6 ▪ Russia and Belarus each account for 12 7 7 approx. 16% of global potash 16 production. 17
Slide 9: World potash supply according to IFA: Geopolitical effects
World potash supply according to IFA: Geopolitical effects ▪ Russia exports about 2/3 to "friendly countries" K2 O ~ 60% of t eff KCl ▪ More than 80% of the currently forecasted expansion of potash production comes from Russia ▪ Different assumptions for the recovery of the world's potash supply ▪ P
Slide 10: 2023: Very good full-year figures expected again
2023: Very good full-year figures expected again ▪ 2023 EBITDA expected to range between EBITDA in € billion €1.15 billion and €1.35 billion ▪ Adjusted free cash flow expected to range between €650 million and €850 million, based on a mid triple-digit million euro amount of capex 1,600 ▪ Agriculture
Slide 11: Planned use of additional liquidity
Planned use of additional liquidity ▪ Participation of shareholders for the 2022 financial year → €1.00 dividend per share and → additional share buyback of up to €200m (about €1.00 per share) ▪ Investment in optimizing our existing business (Bethune, Werra 2060) ▪ Securing crisis-proof balance shee
Slide 12: Shareholder's participation in the Company's success
Shareholder’s participation in the Company’s success Combination of dividend payment and share buyback in € million in €/share Total distribution 400 2,00 Dividend €191.4 million 300 Share Share buyback up to €200.0 million* 1,50 buyback ► up to €391.4 million, respectively about €2 per share 200 1,
Slide 13: Housekeeping items / Financial calendar
Housekeeping items / Financial calendar Additional information on 2023 FY outlook – continuing operations ▪ Tax rate: 30% ▪ CapEx: mid triple-digit million (2022: €404m) ▪ Cash interest: ~ €-20m (2022: €-53m) ▪ D&A: ~ €450m Financial calendar AGM, virtual May 10, 2023 Roadshow, Frankfurt – CEO, CFO
Slide 14: Investor Relations Contacts
Investor Relations Contacts Nathalie Frost Julia Bock, CFA Esther Beuermann Senior Investor Relations Manager Head of Investor Relations Investor Relations Manager Phone: + 49 561 / 9301-1403 Phone: + 49 561 / 9301-1009 Phone: + 49 561 / 9301-1679 Fax: + 49 561 / 9301-2425 Fax: + 49 561 / 9301-2425
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