| 2012/02/08 | 17:35:01 | + 15 min |
| Price: 40.15 EUR | 0.00 % |
Notes
Explanatory Notes; changes in the legal Group and organisational structure
The interim report of 31 March 2010 is prepared in accordance with the International Financial Reporting Standards (IFRSs) as well as the interpretations of the International Financial Reporting Interpretations Committee (IFRIC), insofar as those have been recognised by the European Union. The report is prepared as abridged financial statements with selected explanatory notes as stipulated by IAS 34. With the exception of adjustments made as a result of changes to accounting standards, the accounting and valuation principles used for this interim report correspond to those used for the consolidated financial statements as of 31 December 2009.
Accounting standards and interpretations to be applied in the financial year 2010 for the first time are of no relevance to the consolidated financial statements of the K+S Group.
The legal Group and organisational structure presented in the Financial Report 2009 did not change as of 31 March 2010 .
There were no noteworthy changes to the composition and responsibilities of the Board of Executive Directors and the Supervisory Board as described in the Financial Report 2009.
Seasonal factors
There are seasonal differences over the course of the year that affect the sales volume of fertilizers and salt products. In the case of fertilizers, we generally attain our highest sales volumes in the first half of the year because of the spring fertilisation in Europe. This effect can either be enhanced or diminished by overseas sales volumes. Sales volumes of salt products – especially of de-icing salt – largely depend on the respective wintry weather during the first and fourth quarters. In the aggregate, both these effects mean that revenues and particularly earnings are generally strongest during the first half of the year.
Notes on non-comparable figures for the corresponding previous year period
The effects of the acquisition of Morton International Inc. (Morton Salt) on 1 October 2009 on the earnings position in the first three months of 2010 are presented in the following table.
* After one-time effects from the revaluation and consolidation within the framework of the inventory valuation according to IFRSs (€ 12.0 million) and depreciation on the value adjustments to be made within the framework of purchase price allocation (€ 16.2 million).
