K+S: 2020 target 'not realistic anymore'.

(CercleFinance.com) - German salt and fertilizer company K+S said on Tuesday that its targets set for 2020 did not appear "realistic anymore" in its current situation.


The group explained the target set in 2015 of achieving consolidated EBITDA of around 1.6 billion euros in 2020 was based on an estimated price of around 330 dollars per tonne for potassium chloride in Brazil at the time.

While the current price trend is heading "in the right direction," it is unlikely that the figure will be reached, K+S said.

However, the resources company reiterated its outlook for 2017.

Revenues for the current year are expected to be between 3.6 billion and 3.8 billion euros, with EBITDA in the range of 560 million and 660 million euros.

For the second-quarter, K+S recorded revenue that rose 1.4% to 742 million euros, with EBIT almost doubling to 29 million euros.

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