K+S is engaged in the chemical sector. Co. has three business segments. The Potash and Magnesium Products segment combines the production and marketing of potash fertilizers and fertilizer specialities as well as potash and magnesium compounds for technical, industrial and pharmaceutical applications. The Salt segment encompasses the production and marketing of food grade salt, industrial salt and salt for chemical use, de-icing salt and sodium chloride brine. The Complementary Activities segment bundles together recycling activities and waste disposal or reutilisation in potash and rock salt mines as well as catsan® granulation.
  • TickerKSAG88
  • ISINDE000KSAG888
  • SectorChemicals
  • CountryGermany

Analysts

Seth Goldstein

Morningstar | K+S Reports Solid First Quarter; Raising Fair Value Estimate to EUR 18 on Higher Near-Term Outlook

K+S began 2019 on a positive note as total EBITDA grew 14% year on year to EUR 270 million driven primarily by higher potash prices. Management maintained 2019 annual EBITDA guidance of a range of EUR 700 million to EUR 850 million. We have slightly raised our near-term outlook for K+S to account for higher deicing salt prices. Having updated our model to reflect these changes, we raise our fair value estimate for K+S to EUR 18 per share from EUR 17.50. Our no-moat rating is unchanged. At current prices, we view K+S as fairly valued, with shares trading just below our fair value estimate. In ...

Seth Goldstein

Morningstar | K+S Reports Solid First Quarter; Raising Fair Value Estimate to EUR 18 on Higher Near-Term Outlook. See Updated Analyst Note from 15 May 2019

K+S began 2019 on a positive note as total EBITDA grew 14% year on year to EUR 270 million driven primarily by higher potash prices. Management maintained 2019 annual EBITDA guidance of a range of EUR 700 million to EUR 850 million. We have slightly raised our near-term outlook for K+S to account for higher deicing salt prices. Having updated our model to reflect these changes, we raise our fair value estimate for K+S to EUR 18 per share from EUR 17.50. Our no-moat rating is unchanged. At current prices, we view K+S as fairly valued, with shares trading just below our fair value estimate. In ...

Seth Goldstein

K+S Reports Solid First Quarter; Raising Fair Value Estimate to EUR 18 on Higher Near-Term Outlook

K+S began 2019 on a positive note as total EBITDA grew 14% year on year to EUR 270 million driven primarily by higher potash prices. Management maintained 2019 annual EBITDA guidance of a range of EUR 700 million to EUR 850 million. We have slightly raised our near-term outlook for K+S to account for higher deicing salt prices. Having updated our model to reflect these changes, we raise our fair value estimate for K+S to EUR 18 per share from EUR 17.50. Our no-moat rating is unchanged. At curren...

Nurhayati Wan

K+S AG

Expert Corporate Governance Service (ECGS)

K+S - AGM 15 May 2019

General: Supervisory Board member Jella Benner-Heinacher is Deputy Chief Managing Director (part-time) of DSW, the local partner of ECGS. This report has been prepared using standard ECGS guidelines. K+S is an international resources company that has been mining and processing mineral raw materials for more than 125 years. The Company provides mineral products for the areas of agriculture, industry, consumers and communities. K+S operates production sites in Europe, North America and South America as well as a global distribution network. As of 31 December 2018, DWS Investment GmbH held 5.69...

Seth Goldstein

Morningstar | K+S Reports Solid First Quarter; Raising Fair Value Estimate to EUR 18 on Higher Near-Term Outlook

K+S began 2019 on a positive note as total EBITDA grew 14% year on year to EUR 270 million driven primarily by higher potash prices. Management maintained 2019 annual EBITDA guidance of a range of EUR 700 million to EUR 850 million. We have slightly raised our near-term outlook for K+S to account for higher deicing salt prices. Having updated our model to reflect these changes, we raise our fair value estimate for K+S to EUR 18 per share from EUR 17.50. Our no-moat rating is unchanged. At current prices, we view K+S as fairly valued, with shares trading just below our fair value estimate. In ...

Seth Goldstein

Morningstar | K+S Reports Solid First Quarter; Raising Fair Value Estimate to EUR 18 on Higher Near-Term Outlook. See Updated Analyst Note from 15 May 2019

K+S began 2019 on a positive note as total EBITDA grew 14% year on year to EUR 270 million driven primarily by higher potash prices. Management maintained 2019 annual EBITDA guidance of a range of EUR 700 million to EUR 850 million. We have slightly raised our near-term outlook for K+S to account for higher deicing salt prices. Having updated our model to reflect these changes, we raise our fair value estimate for K+S to EUR 18 per share from EUR 17.50. Our no-moat rating is unchanged. At current prices, we view K+S as fairly valued, with shares trading just below our fair value estimate. In ...

Seth Goldstein

K+S Reports Solid First Quarter; Raising Fair Value Estimate to EUR 18 on Higher Near-Term Outlook

K+S began 2019 on a positive note as total EBITDA grew 14% year on year to EUR 270 million driven primarily by higher potash prices. Management maintained 2019 annual EBITDA guidance of a range of EUR 700 million to EUR 850 million. We have slightly raised our near-term outlook for K+S to account for higher deicing salt prices. Having updated our model to reflect these changes, we raise our fair value estimate for K+S to EUR 18 per share from EUR 17.50. Our no-moat rating is unchanged. At curren...

Seth Goldstein

Morningstar | K+S Expects Higher Profits in 2019; Maintaining Our EUR 17.50 FVE With Outlook Intact

In K+S' outlook for 2019, management issued EBITDA guidance of EUR 700 million to EUR 850 million, up from EUR 606 million in 2018. The company expects the increase to be driven by a combination of higher prices and higher potash volumes as the low-cost Bethune mine in Canada continues to ramp up. This is in line with our outlook for higher potash prices in 2019. With our long-term forecast largely unchanged, we maintain our EUR 17.50 per share fair value estimate and no-moat rating for K+S. The market reacted positively to K+S' outlook for higher potash profits, sending shares up over 9% on t...

Seth Goldstein

Morningstar | K+S Expects Higher Profits in 2019; Maintaining Our EUR 17.50 FVE With Outlook Intact. See Updated Analyst Note from 14 Mar 2019

In K+S' outlook for 2019, management issued EBITDA guidance of EUR 700 million to EUR 850 million, up from EUR 606 million in 2018. The company expects the increase to be driven by a combination of higher prices and higher potash volumes as the low-cost Bethune mine in Canada continues to ramp up. This is in line with our outlook for higher potash prices in 2019. With our long-term forecast largely unchanged, we maintain our EUR 17.50 per share fair value estimate and no-moat rating for K+S. The market reacted positively to K+S' outlook for higher potash profits, sending shares up over 9% on t...

3 directors bought

Three Directors at K&S Ag bought 13,048 shares at between 23.300EUR and 23.656EUR. The significance rating of the trade was 65/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. ...

Nurhayati Wan

K+S AG

K + S AG sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of K + S AG (DE), a company active in the Specialty Chemicals industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 22, 2019, the closing price was EUR 16.85 and its potential was estimated at EUR 18.95.

Nurhayati Wan

K+S AG

Nurhayati Wan

K+S AG

Nurhayati Wan

K+S AG

Markus Schmitt

K+S AG : K+S issued new € 600m bond; we recommend buying the new issue

K+S issued a new € 600m bond due 2024 to refinance the € 500m bond due in December 2018. - The new issue carries a coupon of 3.25% which is c.100bp higher than the 2023 issue's YTW, while K+S’s yield curve widened because of the refinancing. Books were reportedly above € 1.1bn. - Q1 18 revenue and EBITDA grew on the back of increased potash and de-icing volumes. - Note that the company expects a burden on the Q2 18 results due to production issues at Bethune. Production was negatively ...

Markus Schmitt

K+S AG : K+S issued new € 600m bond; we recommend buying the new issue

K+S issued a new € 600m bond due 2024 to refinance the € 500m bond due in December 2018. - The new issue carries a coupon of 3.25% which is c.100bp higher than the 2023 issue's YTW, while K+S’s yield curve widened because of the refinancing. Books were reportedly above € 1.1bn. - Q1 18 revenue and EBITDA grew on the back of increased potash and de-icing volumes. - Note that the company expects a burden on the Q2 18 results due to production issues at Bethune. Production was negatively ...

Expert Corporate Governance Service (ECGS)

K+S - AGM 15 May 2019

General: Supervisory Board member Jella Benner-Heinacher is Deputy Chief Managing Director (part-time) of DSW, the local partner of ECGS. This report has been prepared using standard ECGS guidelines. K+S is an international resources company that has been mining and processing mineral raw materials for more than 125 years. The Company provides mineral products for the areas of agriculture, industry, consumers and communities. K+S operates production sites in Europe, North America and South America as well as a global distribution network. As of 31 December 2018, DWS Investment GmbH held 5.69...

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