Ad hoc disclosure pursuant to Section 15 of the German-Securities Trading Act [WpHG]

Half year revenues rise 11% to € 1,387 million

Half year revenues rise 11% to € 1,387 million / At € 108.8 million, EBIT up about 26% / Half year earnings per share € 2.14 (up 19%) / Forecast raised substantially

Second quarter revenues rose by 19% to € 626.4 million. In addition to business developing favourably, especially in the case of potash and magnesium products, the first-time consolidation of all of esco contributed to the increase. EBIT for the reporting period surged by 68%. All business segments with the exception of COMPO succeeded in posting better results. Earnings after taxes for the quarter rose by 27% to € 25.5 million, or by € 0.60 per share (up 25%).

Revenues for the first six months rose by 11% to € 1,387.0 million. About half the increase is attributable to the acquisition of the remaining 38% of esco. EBIT totalled € 108.8 million (up 26%) and earnings after taxes for the first half of the year rose by 22% to € 91.0 million. K+S Aktiengesellschaft therefore generated earnings of € 2.14 per share (H1 2003: € 1.80 €/share).

Given that global demand for potash and magnesium remains robust and as a result of the extensive measures that have been implemented to enhance efficiency, K+S expects to see strong revenue growth as well as a significant rise in earnings for 2004. K+S is also very confident about 2005.


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