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Investing.com -- K+S AG (ETR:SDFGn) beat revenue expectations in the first quarter and forecast in-line adjusted EBITDA for the full year. The German potash and salt miner’s shares fell nearly 2% in European trading.
Adjusted EBITDA came in at €201 million, matching the company’s pre-released figure, while revenue reached €965 million, slightly above the €958 million consensus forecast compiled by Vara Research.
The company reaffirmed its full-year 2025 guidance, which had been raised on April 29. It continues to expect adjusted EBITDA between €560 million and €640 million, broadly in line with the consensus of €581 million. Adjusted free cash flow is still projected to be slightly positive.
K+S said it sees continued strength in the potash market, supported by tight supply and solid demand. “Our agricultural products, potassium chloride and potassium sulphate, are explicitly excluded from the tariffs,” said Chief Financial Officer Christian Meyer.
“The U.S. has only very insignificant potash production of its own and is dependent on imports. We do not expect any change in this tariff policy for our products in the future," he added.
The company noted that potassium chloride prices have surged about 25% since late 2024, reaching just under $360 per metric ton in early May.
Commenting on the report, Jefferies analysts said the results were "in line with the pre-release."
"We expect a muted share price response," they added.