KASSEL (dpa-AFX) - K+S Group (SDFG) reported Thursday that its third-quarter EBITDA rose 19.3 percent to 96.0 million euros from 80.6 million euros in the year-ago period.
The company noted that one-time, non-cash income from package of measures in the latest quarter compensated for corona-related efficiency losses in the full year.
However, adjusted loss after tax for the quarter widened to 1.98 billion euros from 41.8 million euros in the prior-year period. Loss per share widened to 10.32 euros from 0.22 euros in the year-ago period.
K+S Group revenues for the quarter declined 9.2 percent to 821.7 million euros from 904.9 million euros last year.
Looking ahead to fiscal 2020, K+S affirmed its outlook for EBITDA of about 480 million euros after taking into account one-off restructuring expenses of up to 40 million euros.
As a result of the impairment loss on assets of about 2 billion euros, the company projects adjusted Group earnings after taxes for the year as a whole will fall to a significantly negative figure.
Furthermore, the company still expects adjusted free cash flow in 2020 to be roughly balanced, compared to 140 million euros in 2019.
Copyright RTT News/dpa-AFX
© 2020 AFX News
