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    SDF   DE000KSAG888

K+S AG

(SDF)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 01/24 03:53:47 pm
16.35 EUR   -3.80%
01/18K+S : UBS sticks Neutral
MD
01/13K+S : Berenberg raises its recommendation to Buy
MD
01/11K+S : Baader Bank keeps its Buy rating
MD
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K+S Aktiengesellschaft: German Federal Cartel Office grants clearance for REKS joint venture - one-off gain and cash inflow expected before the end of the 2021 financial year

12/01/2021 | 06:44am EST

DGAP-Ad-hoc: K+S Aktiengesellschaft / Key word(s): Joint Venture/Forecast
K+S Aktiengesellschaft: German Federal Cartel Office grants clearance for REKS joint venture - one-off gain and cash inflow expected before the end of the 2021 financial year

01-Dec-2021 / 12:42 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.


Today, the German Federal Cartel Office has granted the final approval for the merger of the new REKS joint venture. With this joint venture, K+S and REMEX, a subsidiary of the REMONDIS Group, aim to open up the attractive and rapidly growing European market for the recovery and disposal of waste as well as the realization of sustainable waste management solutions.

The closing of the transaction is now expected before the end of 2021. As a result of the contribution of the K+S stakes to REKS, which is consolidated at equity, K+S will generate a one-off gain of about ?200 million in the current fourth quarter. At the same time, a total cash inflow of about ?90 million before taxes will be generated.

Therefore, K+S expects operating earnings EBITDA of the K+S Group for 2021 of about ?830 million (previous outlook: approximately ?630 million excluding REKS transaction; 2020: ?267 million) and a slightly positive free cash flow (previous outlook: balanced free cash flow; 2020: ?-109.9 million).
?
After the EU Commission referred the antitrust clearance procedure to the German Federal Cartel Office at the end of October, it was initially not foreseeable how long the antitrust review would last. Against this background, K+S had only included the operating business in its last forecast for the full year 2021.


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

01-Dec-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: 1253238

 
End of Announcement DGAP News Service

1253238  01-Dec-2021 CET/CEST

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ę EQS 2021
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Financials
Sales 2021 3 104 M 3 514 M 3 514 M
Net income 2021 1 827 M 2 069 M 2 069 M
Net Debt 2021 988 M 1 119 M 1 119 M
P/E ratio 2021 1,35x
Yield 2021 1,01%
Capitalization 3 103 M 3 510 M 3 512 M
EV / Sales 2021 1,32x
EV / Sales 2022 1,01x
Nbr of Employees 10 738
Free-Float -
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 16,21 €
Average target price 16,93 €
Spread / Average Target 4,46%
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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