German potash and salt miner K+S surpassed 2024 core profit forecasts, driven by increased sales volumes from agricultural customers that helped offset lower potash prices.
The company reported earnings before interest, tax, depreciation, and amortization (EBITDA) of €557.7 million ($607.2 million), exceeding analysts’ expectations of €542.3 million, according to Vara Research.
In contrast, competitors such as US-based Mosaic and Canada’s Nutrien posted weaker-than-expected results due to lower sales.
“Considering that we had a year in which potash prices were at a relatively low level … we really came through this year well,” CEO Burkhard Lohr stated.
Potash prices remained stable in 2024 following a period of volatility caused by Russia’s invasion of Ukraine, which had previously pressured margins for potash producers.
For 2025, K+S projects EBITDA in the range of €500 million to €620 million, compared to analysts’ average estimate of €537.5 million. Lohr also expressed optimism about global potash demand, stating that it could reach 80 million tons, depending on the spring season.
K+S announced plans to propose a 2024 dividend of €0.15 per share, significantly lower than the €0.70 paid out last year.
