Handout - K+S Aktiengesellschaft

K+S Group
Earnings Sensitivities to USD volatility in 2013
1.20 USD/EUR 1.30 USD/EUR* 1.40 USD/EUR
Ø USD/EUR exchange rate changes from
1.30 to 1.20 USD/EUR
• With the use of options, we still
participate in the possible appreciation
of the US dollar (less the amount we
paid for the premiums). Based on the
expected USD net exposure of the
K+S Group, the total positive effect on
EBIT I earnings of K+S Group in 2013
would be about € 50 million.
* underlying assumption of outlook 2013
Ø USD/EUR exchange rate changes from
1.30 to 1.40 USD/EUR
• Based on the expected USD net exposure
of K+S Group, the total negative effect
without hedging on EBIT I earnings of the
K+S Group in 2013 would be about
€ 65 million.
• As options in place cover our expected
net exposure from today’s perspective
to a large degree, the above-mentioned
risk reduces to about € 35 million in 2013
(including the amount we paid for the
premiums).
January 2013 K+S Group 50