30.11.2006 

Ad hoc notification in accordance with Section 15 of the German Securities Trading Act (WpHG)

K+S reorganises corporate structure of the SPL Group

K+S reorganises corporate structure of the SPL Group / Non-recurrent deferred tax income recognised in profit and loss of about € 35 - 40 million / Reduction in tax expense of the K+S Group in 2006 non-cash to a great extent

Today, the responsible bodies resolved to merge SPL, Chile, which was acquired by K+S, with a Chilean acquisition company formed by K+S taking effect from 1 December 2006. The merger will trigger an increase in tax carrying amounts and lower future income tax payments on the part of the company in Chile as a result of the recognition of additional tax depreciation.

It will also lead to the reporting of non-recurrent deferred tax income recognised in profit and loss of about € 35-40 million in the K+S consolidated financial statements prepared in accordance with IFRSs. Consequently, the adjusted earnings per share forecast for 2006 will probably increase by € 0.85 to € 1.00 (hitherto forecast: € 4.00-4.25 per share). However, the reduction in the tax expense resulting from the appropriate accounting treatment will be non-cash to a great extent in 2006 with the cash advantage rather having an effect successively over the coming years.

The Board of Executive Directors therefore does not intend to take account of this extraordinary effect in determining its proposal for the 2006 dividend.

K+S Aktiengesellschaft
Kassel, 30 November 2006
The Board of Executive Directors

End of ad hoc notification

 

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