Standardpräsentation Investor Relations - K+S Aktiengesellschaft
Standardpräsentation Investor Relations - K+S Aktiengesellschaft
Standardpräsentation Investor Relations - K+S Aktiengesellschaft
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<strong>K+S</strong> Group<br />
Earnings Sensitivities to USD volatility in 2013<br />
1.20 USD/EUR 1.30 USD/EUR* 1.40 USD/EUR<br />
Ø USD/EUR exchange rate changes from<br />
1.30 to 1.20 USD/EUR<br />
• With the use of options, we still<br />
participate in the possible appreciation<br />
of the US dollar (less the amount we<br />
paid for the premiums). Based on the<br />
expected USD net exposure of the<br />
<strong>K+S</strong> Group, the total positive effect on<br />
EBIT I earnings of <strong>K+S</strong> Group in 2013<br />
would be about € 54 million.<br />
* underlying assumption of outlook 2013<br />
Ø USD/EUR exchange rate changes from<br />
1.30 to 1.40 USD/EUR<br />
• Based on the expected USD net exposure<br />
of <strong>K+S</strong> Group, the total negative effect<br />
without hedging on EBIT I earnings of the<br />
<strong>K+S</strong> Group in 2013 would be about<br />
€ 66 million.<br />
• As options in place cover our expected<br />
net exposure from today’s perspective<br />
to a large degree, the above-mentioned<br />
risk reduces to about € 36 million in 2013<br />
(including the amount we paid for the<br />
premiums).<br />
June 2013 <strong>K+S</strong> Group 101