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    SDF   DE000KSAG888

K+S AG

(SDF)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 07/29 03:58:38 pm
12.163 EUR   -0.59%
07/21K+S : DZ Bank remains Neutral
MD
07/21K+S : UBS reiterates its Neutral rating
MD
07/20K+S : Receives a Buy rating from Baader Bank
MD
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

K+S : cancels state credit line after sale of salt unit

05/18/2021 | 05:09am EDT

(Reuters) - German potash miner K+S on Tuesday said it would no longer need to draw on a German state credit line it was granted last year, citing financial relief from the sale of its U.S. salt business.

K+S last August reached an agreement for a 350-million-euro ($428 million) credit line from Germany's state development bank KfW after it was hit by low potash prices and by the fallout from the coronavirus pandemic. [L8N2FF0UI]

K+S said on Tuesday it repaid about 1 billion euros in financial liabilities immediately after the sale of the salt operations to Stone Canyon Industries Holdings which closed last month. Net proceeds from the transaction of around 2.6 billion euros will be used to repay liabilities, it added.

Cost cuts would enable all its remaining production sites to generate a positive free cash flow from 2023 at the latest, even in the event of low potash prices and weak demand for de-icing salt, the company added.

($1 = 0.8187 euros)

(Reporting by Bartosz Dabrowski in Gdansk; Additional reporting by Anita Kobylinska; Editing by Jonathan Oatis, Tomasz Janowski and Louise Heavens)


ę Reuters 2021
All news about K+S AG
07/21K+S : DZ Bank remains Neutral
MD
07/21K+S : UBS reiterates its Neutral rating
MD
07/20K+S : Receives a Buy rating from Baader Bank
MD
07/20K+S : Potash producer K+S beats quarterly profit estimates
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07/19K+S : Gets a Buy rating from Kepler Cheuvreux
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07/16K+S : Baader Bank reiterates its Buy rating
MD
07/14K+S : UBS remains Neutral
MD
07/12K+S : Buy rating from Baader Bank
MD
More news
Financials
Sales 2021 2 826 M 3 358 M 3 358 M
Net income 2021 407 M 483 M 483 M
Net Debt 2021 1 153 M 1 370 M 1 370 M
P/E ratio 2021 6,77x
Yield 2021 0,37%
Capitalization 2 332 M 2 772 M 2 771 M
EV / Sales 2021 1,23x
EV / Sales 2022 1,16x
Nbr of Employees 10 896
Free-Float 100%
Chart K+S AG
Duration : Period :
K+S AG Technical Analysis Chart | MarketScreener
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Technical analysis trends K+S AG
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 12,19 €
Average target price 11,63 €
Spread / Average Target -4,56%
EPS Revisions
Managers and Directors
Burkhard Lohr Chairman-Executive Board
Thorsten Boeckers Chief Financial Officer
Andreas Kreimeyer Chairman-Supervisory Board
Holger Riemensperger Chief Operating Officer
Philip Freiherr von dem Bussche Independent Member-Supervisory Board
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