Handout - K+S Aktiengesellschaft

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K+S Group Market Outlook (as of 6 November 2012) Potash and Magnesium Products Business Segment • Due to the continuing absence of contract conclusions with Chinese and Indian customers, North American and Russian producers announced further reductions in output in October in order to adjust supply to the reduced demand in these markets. While demand continued to be at a good level on the markets relevant for K+S, price negotiations in these regions will become increasingly difficult due to the missing contracts in China and India. • On the basis of the described developments, we assume global potash sales of about 54 million tonnes for 2012 as a whole (previously: about 56 million tonnes*; 2011: 60.2 million tonnes*). • For 2013, we expect a tangible increase in global potash sales volumes. The estimate is based primarily on a price level for agricultural raw materials which is continuously attractive for the earnings prospects of the agricultural sector, and the expectation of a significant increase in demand in China and India after the buying restraint in 2012. Against this background, worldwide capacities should once again be well utilised. Salt Business Segment • As a result of the exceptionally mild weather conditions at the start of the year, the demand for de-icing salt in Europe as well as in North America should decline accordingly in 2012 compared to the above-average year 2011. • For the year 2013, we are assuming sales volumes to be on its multi-year average level both in the North American and European markets. After demand was below average both in Europe and North America due to the unusually mild weather conditions at the start of the year 2012, the sales volumes of de-icing salt in 2013 should increase again accordingly. However, prices for the tenders for the winter season 2012/13 are overall slightly below the level of the last season with regional differences. January 2013 * Incl. potassium sulphate and potash grades with lower K 2 O content of around 3 million tonnes eff. K+S Group 51
K+S Group Revenues (€ billion) EBITDA (€ million) EBIT I (€ million) 4.0 a good 3.9 1,146.1 about 1,050 906.4 about 820 2011 2012e 2011 2012e 2011 2012e Group earnings, adj. (continued operations) (€ million) EPS, adj. (continued operations) (€) EPS, adj. 4) (€) 625.6 about 530 3.27 about 2.75 3.04 Revenues and Earnings Expectations 2012 1,2) 52 • Potash and Magnesium Products: moderate increase 3) • Salt: tangible decrease • Potash and Magnesium Products: stable • Salt: strong decrease about 3.30 January 2013 2011 2012e 2011 2012e 2011 2012e 1) Unless stated otherwise, information refers to continued operations (previous year‘s figures adjusted accordingly) 2) The underlying assumptions for this outlook can be found in our Quarterly Financial Report Q3/12 on page 24 3) In line with our customary and technical forecast policy, which maintains the currently achieved potash price level unchanged 4) Earnings from continued and discontinued operations K+S Group Outlook statement as of 6 November 2012
Page 1 and 2: Jakarta 1975 Cheuvreux German Corpo
Page 3 and 4: K+S Group Content A. Corporate Stru
Page 5 and 6: K+S Group K+S is the Leading Player
Page 7 and 8: K+S Group Corporate Strategy Differ
Page 9 and 10: K+S Group Potash and Magnesium Prod
Page 11 and 12: Potash and Magnesium Products Devel
Page 13 and 14: Potash and Magnesium Products Key D
Page 15 and 16: Potash and Magnesium Products Suppl
Page 17 and 18: Potash and Magnesium Products Marke
Page 19 and 20: Potash and Magnesium Products Agric
Page 21 and 22: Potash and Magnesium Products Price
Page 23 and 24: K+S Group Low Stocks-to-use Ratios
Page 25 and 26: Potash and Magnesium Products Profi
Page 27 and 28: K+S Group K+S sold COMPO • COMPO,
Page 29 and 30: K+S Group Salt Revenues (€ billio
Page 31 and 32: Salt Mitigation of Volatility in De
Page 33 and 34: Salt Historic and Recent Volume and
Page 35 and 36: Salt Presence in the most attractiv
Page 37 and 38: Salt Development of Salt Production
Page 43 and 44: K+S Group Operating EBIT Margins 20
Page 45 and 46: K+S Group Net Indebtedness and Rati
Page 47 and 48: K+S Group Maturity Profile € mill
Page 49 and 50: K+S Group Value Creation, Cash Gene
Page 51: K+S Group Earnings Sensitivities to
Page 55 and 56: K+S Group Potash One and the Legacy
Page 57 and 58: K+S Group Course of Capex Phase 1 P
Page 59 and 60: K+S Group What Potash Price is Requ
Page 61 and 62: Legacy Project New, State-of-the-ar
Page 65 and 66: K+S Aktiengesellschaft Key Data of
Page 67 and 68: K+S Aktiengesellschaft Attractive D
Page 69 and 70: K+S Aktiengesellschaft K+S Share Pr
Page 71 and 72: K+S Group Financial Calendar 14 Mar
Page 75 and 76: K+S Group Why Fertilize? There are
Page 77 and 78: K+S Group Meat consumption per Capi
Page 79 and 80: K+S Group Potash Fertilization and
Page 81 and 82: K+S Group Strong Impact on Soybean
Page 83 and 84: Potash and Magnesium Products Potas
Page 89 and 90: Potash and Magnesium Products Produ
Page 93 and 94: Salt SPL: Salt Extraction in the At
Page 95 and 96: Salt K+S Production Sites in Europe
Page 97 and 98: Salt Comparison of portfolios with
Page 99 and 100: Salt Morton Salt at a glance • La
Page 101 and 102: K+S Group Revenues and Earnings 1)
Page 103 and 104:
K+S Group Balance Sheet € million
Page 105 and 106:
January 2013 K+S Group 104
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Handout - K+S Aktiengesellschaft

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