K+S Aktiengesellschaft
ISIN: DE000KSAG888
WKN: KSAG88
11 November 2021 06:31AM

DGAP-Adhoc: K+S Aktiengesellschaft: Preliminary examination findings received - DPR proceedings ongoing

K+S Aktiengesellschaft · ISIN: DE000KSAG888 · EQS - adhoc news
Country: Germany · Primary market: Germany · EQS NID: 1248166

DGAP-Ad-hoc: K+S Aktiengesellschaft / Key word(s): Statement
K+S Aktiengesellschaft: Preliminary examination findings received - DPR proceedings ongoing

11-Nov-2021 / 06:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


For the protection of the ongoing proceedings with the Financial Reporting Enforcement Panel ("FREP - DPR") K+S Aktiengesellschaft ("K+S") decided to postpone the publication of the following insider information. With the upcoming regular reporting for the third quarter on November 11, 2021, K+S is obliged to make this announcement.

In the meantime, the DPR has sent preliminary examination findings to K+S on September 6 and 14, 2021, in the procedure for the examination of the consolidated financial statements of K+S as of December 31, 2019, together with the associated Group management report, as well as the abbreviated financial statements as of June 30, 2020, together with the associated interim management report. Following its own comprehensive review and the involvement of external advisors, K+S considers these to be unfounded. K+S therefore commented in detail on the preliminary examination findings in writing and provided the DPR with an expert opinion by renowned IFRS experts.  On November 2, 2021, the Company explained its differing opinions to the DPR in a so-called company meeting.

With regard to the consolidated financial statements as of December 31, 2019, the DPR has not objected to the long-term potash price assumptions made by K+S. It is, however, of the preliminary opinion that material assumptions underlying the value in use determined for the impairment test of the Potash and Magnesium Products cash-generating unit ("CGU Potash") were not appropriate. Furthermore, the changes made to the assumptions compared with the previous year were in part not plausible and the uncertainty associated with the assets was not sufficiently taken into account. In the opinion of the DPR, the value in use of the CGU Potash had therefore not been reliably determined and had been significantly overstated, and therefore the recoverability had not been demonstrated. In detail, this relates to assumptions regarding the quantity framework (annual production capacity, mineable quantities, mine lifes, capacity utilization and the related disclosures in the notes).

K+S does not share the position of the DPR and is of the opinion that the recoverability has been appropriately determined and demonstrated by the value in use calculation carried out within the scope of discretion.

With regard to the abbreviated consolidated financial statements as of June 30, 2020, the DPR is of the preliminary opinion that the recoverability of the net assets of the CGU Potash has not been demonstrated. Despite negative potash price development, no impairment test had been carried out. K+S is of the opinion that no impairment test was necessary for the CGU Potash as of this reporting date. The price development has been adequately taken into account. Furthermore, K+S and the DPR disagree on the presentation of material events and their effects in the interim management report.

K+S has provided the DPR with further information. The proceedings are ongoing.



Contact:
Investor Relations:
Julia Bock, CFA
Phone: +49 561 9301-1009
julia.bock@k-plus-s.com

11-Nov-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: K+S Aktiengesellschaft
Bertha-von-Suttner-Str. 7
34131 Kassel
Germany
Phone: +49 561 9301 0
Fax: +49 561 9301 2425
E-mail: investor-relations@k-plus-s.com
Internet: www.k-plus-s.com
ISIN: DE000KSAG888
WKN: KSAG88
Indices: MDAX
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange
EQS News ID: 1248166

 
End of Announcement DGAP News Service

1248166  11-Nov-2021 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 4.039,10 4.070,70 2.432,10 3.213,10 5.676,60 3.872,60 0,00
EBITDA1,2 606,30 640,40 266,90 969,10 2.422,90 712,40 620,00
EBITDA-Margin3 15,01 15,73 10,97 30,16 42,68 18,40 0,00
EBIT1,4 226,90 208,50 39,90 676,60 1.979,10 256,30 0,00
EBIT-Margin5 5,62 5,12 1,64 21,06 34,86 6,62 0,00
Net Profit (Loss)1 42,20 88,90 -1.890,80 2.983,20 1.508,30 210,20 60,00
Net-Margin6 1,05 2,18 -77,74 92,85 26,57 5,43 0,00
Cashflow1,7 308,70 639,80 428,50 326,90 1.391,90 821,00 0,00
Earnings per share8 0,22 0,46 -8,96 15,59 7,88 1,12 0,28
Dividend per share8 0,25 0,04 0,00 0,20 1,00 0,70 0,15
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: PricewaterhouseCoopers

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
©boersengefluester.de
K+S
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
KSAG88 DE000KSAG888 AG 1.890,40 Mio € 01.05.1971 Halten 9F3F8C5W+RX
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
13,19 16,88 0,78 5,03 0,30 2,30 0,49
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
1,00 0,70 0,15 1,42%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
14.05.2025 13.05.2025 12.08.2025 14.11.2024 13.03.2025
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
-0,94%
10,56 €
ATH 91,78 €
-5,71% -12,85% -26,24% -26,75% +0,00%

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