K+S Aktiengesellschaft — Non-Deal Roadshow (August 2021)
12 slides from K+S Aktiengesellschaft's roadshow presentation, Aug 19, 2021
Slide 1: Virtual Roadshow Kepler Cheuvreux
19 August 2021 K+S Aktiengesellschaft Virtual Roadshow Kepler Cheuvreux Dr. Burkhard Lohr Janina Rochell CEO Senior Investor Relations Manager & Sustainability Expert
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: Rapid Debt Reduction and Value Generation
Rapid Debt Reduction and Value Generation Sale of the Americas operating unit ▪ Closing completed on April 30 ▪ Net proceeds ~ €2.6 billion ▪ Book gain ~ €742 million Financial debt reduced significantly by ~ €1.7 billion ▪ > €1 billion credit facilities, promissory notes, commercial papers ▪ Succes
Slide 4: Social Responsibility
Social Responsibility ▪ We contributed to the vaccination campaign ▪ Until end of July, employees and family members received more than 3,500 vaccine doses 4
Slide 5: Q2/21 EBITDA significantly improved YoY
Q2/21 EBITDA significantly improved YoY Highlights Financials (continuing operations) ▪ Q2/21 EBITDA increased to €112m (Q2/20: €53m) € million Q2/2020 Q2/2021 % ▪ COVID-19: Minor efficiency losses on the previous year’s Q2 level Revenues 590 664 +13 ▪ Adj. net profit positive at €158m (Q2/20: €-27m
Slide 6: Strong performance in agricultural markets
Strong performance in agricultural markets % 240 ► Recovery of crop prices on back of 220 falling stock-to-use ratios, mainly corn and soybean below 5-year-average 200 180 ► First significant increase in agricultural profitability since 2015 160 ► Farmers switch from a cost-minimized 140 to a volume
Slide 7: Agriculture customer segment
Agriculture customer segment Q2/2021 USD/t EUR/t • Accelerated price recovery in 800 550 Brazil continued on the back of 750 Potassium 500 very strong demand 700 Sulfate 650 (SOP) • Concerns about supply due to Europe 450 600 sanctions against Belarus and 550 Mosaic (Esterhazy) 400 500 Potassium Chl
Slide 8: Trading update: Industry+
Trading update: Industry+ De-icing salt business ▪ Strong performance in Q1 ▪ Good early-fills business expected Pharmaceutical industry ▪ COVID-19-related declines Food industry ▪ COVID-19-related declines Chemical industry ▪ Strong performance in Q2, especially chlorine for plastics, PVC and glass
Slide 9: 2021 EBITDA outlook raised by €200 million
2021 EBITDA outlook raised by €200 million ▪ Significantly higher average price EBITDA in €m continuing operations ~700-800 in Agriculture product portfolio + REKS (~200) ▪ Sales volume in the Agriculture customer segment expected to be - Higher freight costs >7.5 million tonnes - Higher energy ~500
Slide 10: EBITDA guidance increase translates into cash
EBITDA guidance increase translates into cash € mln +260 Negative effects included in FCF 2021: 750 490 550 ▪ Cash interest for bond buybacks ▪ Still high capex, especially for +240 environment -110 ▪ Cash-out for the restructuring of -350 -300 the headquarters Mrz 21 March 21 Mai 21 May 21 Jul 21 A
Slide 11: Housekeeping items / Financial calendar
Housekeeping items / Financial calendar Additional information on 2021 FY outlook – continuing operations ▪ Tax rate: 30% ▪ Financial result: on the level of last year (2020: €-106m) ▪ CapEx: on the level of last year (2020: €428m) ▪ D&A: ~€300m Financial calendar Kepler Cheuvreux Roadshow Frankfurt
Slide 12: Investor Relations Contact
Investor Relations Contact K+S Aktiengesellschaft Bertha-von-Suttner-Str. 7 34131 Kassel (Germany) E-Mail: investor-relations@k-plus-s.com Website: www.kpluss.com IR-Website: www.kpluss.com/ir Newsletter: www.kpluss.com/newsletter Julia Bock, CFA Dirk Neumann Janina Rochell Senior Investor Relations
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