K+s Ag · XETR:SDF
K+s — K+S Aktiengesellschaft — Q2 2025 Earnings Presentation
12 slides from K+s's earnings presentation, Aug 12, 2025
Slide 1: Q2/2025 Results
August 12, 2025 Q2/2025 Results Dr. Christian H. Meyer Dr. Jens Christian Keuthen 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: Background non-cash impairment at K+S
Background non-cash impairment at K+S IFRS vs. US GAAP – Impairment ▪ IFRS require companies to evaluate their assets for impairment and to adjust accordingly. This can lead to write-offs and write-backs. ▪ Under US GAAP, a one-off write-off is sufficient, and there is no obligation to write back, e
Slide 4: Ad hoc Quarterly Result / Forecast
Ad hoc Quarterly Result / Forecast Ad hoc disclosure – July 29, 2025 ▪ Q2/2025 results showed EBITDA below market expectations, while adjusted free cash flow aligned with forecasts. ▪ Full-year 2025 EBITDA and free cash flow forecasts remain confirmed, despite a less favorable USD/EUR exchange rate
Slide 5: Global megatrends…
Global megatrends… …require efficient fertilization and irrigation! > 700 million approx. 30% of the +0.2 °C 40% of the 9.7 billion people world's population global warming population people had to suffer from were moderately or severely per decade on suffer from will live in the world hunger in 202
Slide 6: Highlights Q2/25
Highlights Q2/25 Highlights Financials € million Q2/24 Q2/25 % ▪ Q2/25 EBITDA at €110 mln (Q2/24: €128 mln) ▪ Agriculture sales volume (excl. trade goods) at 1.74 mln t (Q2/24: Revenues 874 871 -0.3 1.84 mln t) lower due to postponed bulk ship, earlier maintenance t/o Agriculture 616 618 +0.3 Bethun
Slide 7: ASP development in Agriculture customer segment
ASP development in Agriculture customer segment 2023 Q1/24 Q2/24 Q3/24 Q4/24 2024 Q1/25 Q2/25 Revenues € million 2,721.3 679.9 615.9 605.8 648.5 2,550.1 664.8 617.5 thereof trade goods (mainly specialties, Overseas) 67.0 19.5 56.3 49.3 33.4 158.4 24.7 32.0 Europe € million 1,202.9 344.7 270.5 270.9
Slide 8: Outlook
Outlook 8
Slide 9: Market outlook 2025
Market outlook 2025 Key message ▪ Global potash demand is expected to remain strong in the second half of 2025, driven by strong demand in Brazil, India, and Western Europe. ▪ In June 2025, China agreed to a contract price of USD 346/t for standard potassium chloride, while the Indian contract was s
Slide 10: Guidance 2025
Guidance 2025* Guidance confirmed 2.423 2,423 ▪ EBITDA continues to be expected between €560 and 640 mln ▪ Midpoint: price level achieved in Brazil at the end of July will stay stable on average for rest of the year → ASP on level of H1/25 (330 €/t) ▪ Upper end: overseas prices continue to rise with
Slide 11: Housekeeping items / Financial calendar
Housekeeping items / Financial calendar Additional information on 2025 FY outlook – continuing operations ▪ Tax rate: 30% ▪ CapEx: €550 mln (2024: €531 mln) ▪ Cash interest: less than €-15 mln ▪ D&A: ~ €450 mln (2024: €560 mln) Financial calendar Commerzbank and ODDO BHF Corporate Conference, Frankf
Slide 12: Investor Relations @ K+S Aktiengesellschaft
Investor Relations @ K+S Aktiengesellschaft Julia Bock, CFA K+S Aktiengesellschaft Head of Investor Relations & Corporate Secretary Bertha-von-Suttner-Str. 7 34131 Kassel Phone: + 49 561 / 9301-1009 Fax: + 49 561 / 9301-2425 julia.bock@k-plus-s.com Esther Beuermann, MBA Senior Investor Relations Man
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