01.10.2007 

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

K+S adjusts US dollar hedging

K+S adjusts US dollar hedging / Operating earnings EBIT I for 2007 expected at lower end of the previously published forecast (€ 310 million to € 325 million)

The K+S Group has adjusted its US dollar hedging based on double-barrier options to changed market conditions. All remaining options with upper knock-out barriers of 1.43 USD/EUR for the months of October to December 2007 now have higher knock-out barriers. As a consequence of this restructuring, the average hedged rate incl. premium payment for 2007 will deteriorate from 1.11 USD/EUR to about 1.20 USD/EUR. As a result of this, operating earnings EBIT I of the K+S Group for 2007 will reach a value that, assuming an average de-icing salt business during the fourth quarter, will be at the lower end of the previously published profit forecast of € 310 million to € 325 million.

With regard to 2008, the Board of Executive Directors of K+S Aktiengesellschaft remains confident. This assessment is based primarily on the healthy development of demand in the Potash and Magnesium Products business segment; the price increases already implemented in the markets this year alone should lead to a significant increase in revenues in the coming year, one that should more than make up for currency effects and other cost effects. 

K+S Aktiengesellschaft
Kassel, 1 October 2007
The Board of Executive Directors

End of ad hoc notification

 

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