KASSEL (dpa-AFX) - After a surprisingly good start to the year, the fertilizer group K+S is looking to the year as a whole with a little more confidence. An operating profit (EBITDA) at the lower end of the annual target range has become less likely, but uncertainties nevertheless remain, the MDax group announced on Tuesday in the course of the surprising presentation of key data for the first quarter. For example, the world's major potash producers had not yet concluded the contracts with China and India that are important for the price development in the industry. The K+S share was recently up a good 4 percent.

In the first quarter, earnings before interest, taxes, depreciation and amortization (EBITDA) fell by more than half to around 200 million euros compared to the strong previous year's figure, but were still well above the average market expectation, the company said. For 2024, CEO Burkhard Lohr continues to forecast an operating result of between 500 and 650 million euros. The free cash flow adjusted for special effects should continue to be at least balanced in 2024. In the first quarter, it amounted to around 111 million euros./mis/ngu