Standardpräsentation Investor Relations - K+S Aktiengesellschaft
Standardpräsentation Investor Relations - K+S Aktiengesellschaft
Standardpräsentation Investor Relations - K+S Aktiengesellschaft
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Potash and Magnesium Products<br />
Currency Management<br />
US dollar<br />
• USD revenues are hedged after the deduction of overseas freight costs, capital expenditure<br />
for the Legacy Project and<br />
a safety margin<br />
• Use of options or futures, which<br />
prescribe a worst-case scenario,<br />
but provide the opportunity to<br />
share in any possible appreciation<br />
of the US dollar<br />
„worst case“ for the fiscal year 2012:<br />
USD/EUR 1.32 after premiums<br />
„worst case“ for the fiscal year 2013<br />
(for ~60% of expected USD net exposure):<br />
USD/EUR 1.29 after premiums<br />
Canadian dollar<br />
• Capital expenditure in Canadian dollar for the Legacy Project expected with sufficient certainty<br />
are also hedged with the use of options<br />
or futures, which prescribe a worstcase<br />
scenario, but provide the<br />
opportunity to share in any possible<br />
depreciation of the Canadian Dollar<br />
„worst case“ for the fiscal year 2013<br />
(for ~80% of expected capex in Canadian dollar):<br />
CAD/EUR 1.30 after premiums<br />
June 2013 <strong>K+S</strong> Group 52
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