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Potash producer K+S swings to Q2'19 profit on higher prices, output

K+S AG recorded a net profit of €13.9 million, or 7 cents per share, for the second quarter, swinging year over year from a loss of €31.9 million, or 17 cents per share.

The German-based potash producer said a good fertilizer price environment coupled with higher production volumes at the Werra operation in Germany and the Bethune operation in Saskatchewan were main factors in its results.

Revenue grew 8.2% year over year to €878.5 million, while EBITDA rose 23.8% to €130.1 million.

K+S revised its full-year EBITDA guidance to a range of €730 million to €830 million, increasing from the previous target of €700 million to €850 million.

The increase reflects anticipated exchange rates between the euro and the U.S. dollar, which the company expects to offset the impact of an extended maintenance shutdown at Bethune and uncertainty brought by China's import ban on potassium chloride.