K + S more confident for day-to-day business

The high fertilizer prices make K + S more optimistic about day-to-day business.

Earnings before interest, taxes, depreciation and amortization should rise to around 630 million euros in 2021, the fertilizer company announced on Tuesday in Kassel.

However, due to a delay in the planned establishment of the Reks joint venture with the Remondis subsidiary Remex, K + S no longer takes into account a single premium of EUR 200 million.

Brussels / Kassel - So far, CEO Burkhard Lohr had expected an operating profit of 500 to 600 million euros plus the 200 Reks million.

The exclusion of Reks from the forecast had already become apparent after the EU antitrust watchdogs reported last week continued concerns about Reks' possibly too great a market power and passed the case on to the German Federal Cartel Office.

dpa