K+S Aktiengesellschaft

euro adhoc: K+S Aktiengesellschaft
Earnings Forecast
Recent price developments for fertilizers in Europe and overseas will have a stronger and quicker effect on earnings than was previously assumed
The previous earnings forecast of approximately EU

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.


Prices on the global fertilizer markets have increased significantly since the start of the year; the earnings forecast for the whole of 2008, drawn up by the Board of Executive Directors on 6 May 2008, was, as usual, based on the international fertilizer prices attained so far. Since then, prices have continued to increase significantly, particularly in the case of potash. Within the framework of the earnings estimate made internally on a regular basis, we have today come to the conclusion that in the second half of the year this will have a stronger and quicker effect than was previously assumed on the earnings of the K+S Group. Previously we had assumed that the operating earnings (EBIT I) of the K+S Group would approximately triple; this would have corresponded to an EBIT I of something over EUR 850 million (2007: EUR 285.7 million). Considering the prices of over USD 800 per tonne of potassium chloride (KCI) already implemented on the overseas markets for the second half of the year, and against the background of the price increase in Europe, announced a few days ago, to EUR 535 per tonne of KCl, we now expect the operating earnings (EBIT I) of the K+S Group for 2008 to be at least EUR 1.1 billion.

end of announcement                               euro adhoc

Further inquiry note:

Christian Herrmann
Tel.: +49 (0)561 9301 1460
E-Mail: christian.herrmann@k-plus-s.com

Branche: Chemicals
ISIN: DE0007162000
WKN: 716200
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / regulated dealing
Börse Hamburg / regulated dealing
Börse Stuttgart / regulated dealing
Börse Düsseldorf / regulated dealing
Börse Hannover / regulated dealing
Börse München / regulated dealing

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