K+s Ag · XETR:SDF
K+s — K+S Aktiengesellschaft — Q3 2023 Earnings Presentation
12 slides from K+s's earnings presentation, Nov 14, 2023
Slide 1: Q3/2023 Results
November 14, 2023 Q3/2023 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: Q3/23 EBITDA decreased after record 2022
Q3/23 EBITDA decreased after record 2022 Highlights Financials ▪ Q3/23 EBITDA at €72m (Q3/22: €633m); not yet reflecting price € million Q3/2022 Q3/2023 % increases, mainly in Brazil, after finally having seen turning point at the Revenues 1,470 881 -40 end of Q2 ▪ Agriculture sales volume up at 1.8
Slide 4: ASP development in Agriculture customer segment
ASP development in Agriculture customer segment 2021 Q1/22 Q2/22 Q3/22 Q4/22 2022 Q1/23 Q2/23 Q3/23 Revenues € million 2,272.1 944.1 1,244.2 1,162.8 1,114.6 4,465.6 820.4 557.0 620.7 Europe € million 950.9 349.9 543.0 372.0 406.8 1,671.6 340.1 231.9 300.1 Overseas USD million 1,562.5 666.5 746.5 796
Slide 5: Outlook
Outlook 5
Slide 6: Continued positive environment
Continued positive environment Farmer profitability at historically high level Price development of agricultural commodities since 01/2020 US corn farmer profitability in USD/acre since 01/1996 220 Corn 200 Soybeans 180 160 140 120 100 80 December 2019 = 100 60 01 04 07 10 01/21 04 07 10 01/22 04 07
Slide 7: World potash production and sales volumes by region
World potash production and sales volumes by region in million tonnes 28 ▪ Even before limitation of Russian exports and sanctions against Belarus, 17 the potash market was fully used at 25 capacity limit. 5 32 ▪ Until 2021, Russia’s Uralkali and 9 6 5 Belarus each accounted for approx. 18 16% of gl
Slide 8: New potash capacities needed to meet rising demand!
New potash capacities needed to meet rising demand! in million tonnes eff. (product) 8.5 24 5.5 6 4 Demand growth Capacities announced Assumption: Addition of Supply expansion Capacities still until 2032 by BHP until 2032 only half of the Russian via other announced needed to meet (CAGR = IFA foreca
Slide 9: 2023 outlook confirmed!
2023 outlook confirmed! ▪ 2023 EBITDA still expected to range between EBITDA in € billion €600 million and €800 million ▪ Adjusted free cash flow still expected to range between €300 million and €450 million, based on €550 million of capex 1,600 ▪ Agriculture customer segment: ▪ FY average price mod
Slide 10: New distribution policy
New distribution policy K+S sets guiding principles for attractive shareholder participation Shareholder participation in K+S aims to return 30% to 50% of the adjusted free cash flow The following factors are applied K+S wants to maintain a K+S's corporate success will generated annually to in deter
Slide 11: Housekeeping items / Financial calendar
Housekeeping items / Financial calendar Additional information on 2023 FY outlook – continuing operations ▪ Tax rate: 30% ▪ CapEx: €550m (2022: €404m) ▪ Cash interest: ~ €-30m (2022: €-53m) ▪ D&A: ~ €450m Financial calendar Kepler Cheuvreux Global Agriculture Conference, virtual – CEO November 16, 2
Slide 12: Investor Relations Contacts
Investor Relations Contacts Nathalie Frost Julia Bock, CFA Esther Beuermann Senior Investor Relations Manager Head of Investor Relations Senior Investor Relations Manager, ESG Expert Phone: + 49 561 / 9301-1403 Phone: + 49 561 / 9301-1009 Phone: + 49 561 / 9301-1679 Fax: + 49 561 / 9301-2425 Fax: +
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