K+S AG is aiming to lift its EBITDA to €3 billion in 2030, with at least a 15% return on capital employed, as part of its new strategy dubbed Shaping 2030.

The company intends to expand its specialty business as well as related operations, including fertigation, and grow its business in high-growth regions such as Asia and Africa.

K+S will achieve about two-thirds of the growth by developing its existing business and through optimizing the organization and its processes. The company is seeking to become free cash flow positive by 2019, it said.

Operational synergies are expected to reach at least €150 million per annum by the end of 2020.

The company will also integrate its potash and magnesium products unit with its salt business, according to an Oct. 9 release. K+S expects its net debt/EBITDA ratio to be halved by the end of 2020 and is aiming to regain its investment-grade rating in 2023.

"One of our strategy's strengths is that none of the growth options is so dominant that Shaping 2030's success depends on it," K+S Chairman Burkhard Lohr said.