K+S AG posted a second-quarter loss of €31.9 million, or 17 euro cents per share, swinging from a year-ago profit of €38.3 million, or 20 cents per share, according to an Aug. 14 earnings release.

The company recorded a loss hedging of €28.4 million, compared to a gain of €28 million in the year-ago period. Income tax expense totaled €11.8 million in the quarter, compared to an income tax gain of €14.1 million in the prior-year quarter.

Quarterly revenue increased to €811.9 million, from €742.0 million in the prior-year quarter, on the back of higher sales volumes from the ramp-up of the new Bethune potash plant in Saskatchewan and higher prices for potassium chloride and fertilizer specialties. Cost of sales increased to €581.6 million from €509.0 million due to increased output at the Bethune plant.

EBITDA in the quarter increased 3% year over year to €105 million. EBITDA from the potash and magnesium segment jumped 26.9% year over year to €90.6 million, partially offset by a 19.7% decline in the salt segment to €23.3 million.

K+S said it expects full-year revenue of €4.1 billion, from €3.6 billion a year ago. EBITDA is estimated to grow to between €660 million and €740 million for the full year, compared to the 2017 EBITDA of €577 million.