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MarketScreener Homepage  >  Equities  >  Moscow Micex - RTS  >  Uralkali    URKA   RU0007661302

URALKALI

(URKA)
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K+S cuts output, sees lower earnings on weak potash demand

09/23/2019 | 11:44am EST

FRANKFURT (Reuters) - German mineral miner K+S will cut production of potash fertilisers, dragging core earnings lower, as a halt imposed by China on potash imports dampens global markets.

"In the current weak market environment, which is further intensified by the continuing Chinese import bans on the standard potassium chloride product, adjusting production is a difficult decision, but the right one," K+S executive Alexa Hergenroether said in a statement on Monday.

The group's potash output will be reduced by up to 300,000 tonnes by the end of the year, holding back core earnings, or earnings before interest, taxes, depreciation and amortisation (EBITDA), by as much as 80 million euros (70.7 million pounds), the company said.

It had previously forecast 2019 EBITDA of 730-830 million euros, targeting the sale of 6.9-7.1 million tonnes of potash for the year.

Larger Canadian rival Nutrien earlier this month flagged a $100-$150 million reduction in potash EBITDA as a result of cutting output by about 700,000 tonnes.

Russian potash producer Uralkali last week followed up with plans to reduce output by 350,000-500,000 tonnes.

(Reporting by Ludwig Burger; Editing by Christoph Steitz and David Evans)

By Ludwig Burger


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
K+S AG -2.17% 9.728 Delayed Quote.24.91%
NUTRIEN LTD. 0.06% 68.27 Delayed Quote.11.48%
URALKALI 0.00% 119.04 End-of-day quote.0.00%
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Financials (USD)
Sales 2019 2 782 M - -
Net income 2019 1 207 M - -
Net Debt 2019 4 854 M - -
P/E ratio 2019 125x
Yield 2019 -
Capitalization 2 106 M 2 102 M -
EV / Sales 2018 2,37x
EV / Sales 2019 2,62x
Nbr of Employees 20 000
Free-Float 0,02%
Chart URALKALI
Duration : Period :
Uralkali Technical Analysis Chart | URKA | RU0007661302 | MarketScreener
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Average target price 2,30 $
Last Close Price 1,62 $
Spread / Highest target 41,8%
Spread / Average Target 41,8%
Spread / Lowest Target 41,8%
Managers and Directors
NameTitle
Vitaly Lauk Chief Executive Officer
Sergey Viktorovich Chemezov Chairman
Anton Vladimirovich Vishchanenko Chief Financial Officer
Paul James Ostling Independent Director
Dmitry Vasilyevich Osipov Director
Sector and Competitors
1st jan.Capitalization (M$)
URALKALI0.00%2 102
YARA INTERNATIONAL ASA9.07%12 046
SAUDI ARABIAN FERTILIZERS COMPANY15.63%11 825
THE MOSAIC COMPANY25.60%10 956
CF INDUSTRIES HOLDINGS, INC.17.02%9 690
COROMANDEL INTERNATIONAL LIMITED0.96%3 299