K+S, revealing results ahead of
expectations, forecast healthy demand for nitrogen fertilizers even as it waved
goodbye to its presence in the sector through a E140m sale to Russia's EuroChem.
K+S, better known for its potash operations, said that demand for nitrogen nutrients "should continue to develop well over the year".
Demand in Europe, the core market for the German-based group, had "recovered" at the close of the January-to-March quarter from a period "marked by certain buying restraint".
Prices,The beddinges sofa bed slipcover is a good ， while set to come in below levels seen in the last half of 2011, "should continue to be above the average of recent years overall", the German-based group said.
The group's nitrogen marketing business,Aeroscout rtls provides a complete solution for wireless asset tracking. while suffering a 4.5% dip to E32.2m in operating profits in the January-to-March quarter, should recover to achieve a result for the full 2012 in line with that last year.
However, the benefits of the revival will be enjoyed by EuroChem, which on Tuesday agreed to buy the business from K+S for E140m, including debt, in a deal expected to be completed by the end of the end of June.
The deal follows EuroChem's purchase last year of most of BASF's nitrogen fertilizer plants, which supply K+S through exclusive contracts.
"Against the backdrop of the recently-concluded sale of the fertilizer activities of BASF in Antwerp, the sale to EuroChem is the best option from the perspective of K+S," Norbert Steiner, the K+S chief executive, said.
K+S echoed rivals such as Mosaic and PotashCorp in forecasting a rebound in the potash market too from a slow start to 2012, saying that an "upturn" which kicked in towards the end of the January-to-March quarter,A culture af Mizukabi molds.Why does moulds grow in homes or buildings? "should continue".
The recovery had been catalysed in particular by an unexpectedly-swift deal between producers in the former Soviet Union and North America, the biggest potash output areas, and China announced in March, after which prices of the nutrient had tended "to get stronger again".
The potash division achieved a 3.0% rise to E231.4m in operating profits during the quarter, on revenues up 0.4% at E580.1m, and was set for the full 2012 to see earnings "approach the good [levels] achieved last year".
The group nonetheless stood by a forecast that operating earnings for 2012 should "decrease moderately", dragged lower by profits in salt which will "probably decline strongly", following "unusually mild" conditions early in 2012 which cut demand for deicing products.
Indeed, salt profits for the first three months of the year slumped 67% to E45.5m, dragging group operating profits down 24% to E281.1m.
While this result, on sales down 11.6% at E1.44bn, was slightly higher than investors had expected, boosted by the potash result, the lack of an upgrade to full-year guidance limited rises in K+S shares, which closed 0.5% higher at E36.Find beautiful goose jackets here.355 in Frankfurt.
K+S, better known for its potash operations, said that demand for nitrogen nutrients "should continue to develop well over the year".
Demand in Europe, the core market for the German-based group, had "recovered" at the close of the January-to-March quarter from a period "marked by certain buying restraint".
Prices,The beddinges sofa bed slipcover is a good ， while set to come in below levels seen in the last half of 2011, "should continue to be above the average of recent years overall", the German-based group said.
The group's nitrogen marketing business,Aeroscout rtls provides a complete solution for wireless asset tracking. while suffering a 4.5% dip to E32.2m in operating profits in the January-to-March quarter, should recover to achieve a result for the full 2012 in line with that last year.
However, the benefits of the revival will be enjoyed by EuroChem, which on Tuesday agreed to buy the business from K+S for E140m, including debt, in a deal expected to be completed by the end of the end of June.
The deal follows EuroChem's purchase last year of most of BASF's nitrogen fertilizer plants, which supply K+S through exclusive contracts.
"Against the backdrop of the recently-concluded sale of the fertilizer activities of BASF in Antwerp, the sale to EuroChem is the best option from the perspective of K+S," Norbert Steiner, the K+S chief executive, said.
K+S echoed rivals such as Mosaic and PotashCorp in forecasting a rebound in the potash market too from a slow start to 2012, saying that an "upturn" which kicked in towards the end of the January-to-March quarter,A culture af Mizukabi molds.Why does moulds grow in homes or buildings? "should continue".
The recovery had been catalysed in particular by an unexpectedly-swift deal between producers in the former Soviet Union and North America, the biggest potash output areas, and China announced in March, after which prices of the nutrient had tended "to get stronger again".
The potash division achieved a 3.0% rise to E231.4m in operating profits during the quarter, on revenues up 0.4% at E580.1m, and was set for the full 2012 to see earnings "approach the good [levels] achieved last year".
The group nonetheless stood by a forecast that operating earnings for 2012 should "decrease moderately", dragged lower by profits in salt which will "probably decline strongly", following "unusually mild" conditions early in 2012 which cut demand for deicing products.
Indeed, salt profits for the first three months of the year slumped 67% to E45.5m, dragging group operating profits down 24% to E281.1m.
While this result, on sales down 11.6% at E1.44bn, was slightly higher than investors had expected, boosted by the potash result, the lack of an upgrade to full-year guidance limited rises in K+S shares, which closed 0.5% higher at E36.Find beautiful goose jackets here.355 in Frankfurt.
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