Financial Section

Statement of Income for the Period
€ millionQ3/10Q3/099M/109M/09LTM3)/1012M/09
Revenues 1,061.2 698.1 3,653.3 2,512.5 4,714.6 3,573.8
Cost of sales 679.0 474.3 2,217.6 1,611.3 2,950.2 2,343.9
Gross profit 382.2 223.8 1,435.7 901.2 1,764.4 1,229.9
Selling expenses 224.4 155.7 753.7 504.5 961.6 712.4
General and administrative expenses 38.2 23.6 122.5 83.2 162.4 123.1
Research and development costs 3.1 5.6 10.6 14.1 15.2 18.7
Other operating income 31.7 31.6 163.6 101.9 216.2 154.5
Other operating expenses 37.8 51.6 164.0 167.6 249.7 253.3
Income from investments, net 1.4 2.0 3.2 2.8 1.3 0.9
Result from operating forecast hedges 47.1 (3.5) (3.8) (28.5) (11.2) (35.9)
Result after operating hedges (EBIT II) 1) 158.9 17.4 547.9 208.0 581.8 241.9
Interest income 1.5 0.7 4.4 2.8 6.3 4.7
Interest expenses (57.8) (24.5) (110.0) (42.1) (129.6) (61.7)
Other financial result 3.6 12.1 1.2 (57.4) 0.2 (58.4)
Financial result (52.7) (11.7) (104.4) (96.7) (123.1) (115.4)
Earnings before income taxes 106.2 5.7 443.5 111.3 458.7 126.5
Taxes on income 29.2 1.9 117.5 30.2 116.9 29.6
- of which deferred taxes 0.6 13.0 (8.1) 6.2 (23.0) (8.7)
Net income 77.0 3.8 326.0 81.1 341.8 96.9
Minority interests in earnings 0.2 0.1 0.6 0.3 0.8 0.5
Group earnings after taxes and minority interests 76.8 3.7 325.4 80.8 341.0 96.4
Earnings per share in € (undiluted ≙ diluted) 0.40 0.02 1.70 0.49 1.83 0.58
             
Operating earnings (EBIT I) 108.5 9.4 531.7 201.5 568.2 238.0
Earnings before income taxes, adjusted 2) 55.8 (2.3) 427.3 104.8 445.1 122.6
Group earnings, adjusted 2) 40.4 (2.1) 313.7 76.1 331.2 93.6
Earnings per share in €, adjusted 2) 0.21 (0.01) 1.64 0.46 1.78 0.56
Average number of shares (million) 191.40 165.00 191.32 164.91 185.95 166.15
Statement of comprehensive Income for the Period
€ millionQ3/10Q3/099M/109M/09LTM3)/1012M/09
Net income 77.0 3.8 326.0 81.1 341.8 96.9
Foreign currency translation (198.3) (18.7) 97.5 (25.6) 129.4 6.3
Cash flow hedge – (28.8) – (28.8) 28.8 –
Earnings without recognition in profit or loss (198.3) (47.5) 97.5 (54.4) 158.2 6.3
Comprehensive income (121.3) (43.7) 423.5 26.7 500.0 103.2
Minority interests in comprehensive income 0.2 0.1 0.6 0.3 0.8 0.5
Group comprehensive income after taxes and minority interests (121.5) (43.8) 422.9 26.4 499.2 102.7
Operating Earnings (EBIT I)
€ millionQ3/10Q3/099M/109M/09LTM3)/1012M/09
Result after operating hedges (EBIT II) 1) 158.9 17.4 547.9 208.0 581.8 241.9
+/- Result from operating forecast hedges (47.1) 3.5 3.8 28.5 11.2 35.9
+/- Realized earnings from operating forecast hedges (3.3) (11.5) (20.0) (35.0) (24.8) (39.8)
Operating earnings (EBIT I) 108.5 9.4 531.7 201.5 568.2 238.0

1)  Management of the K+S Group is handled on the basis of operating earnings (EBIT I). Reconciliation of EBIT II to operating earnings (EBIT I) is recorded below the income statement.

2)  The adjusted key figures only contain the earnings actually realised on operating forecast hedges for the respective reporting period. The changes in the market value of operating forecast hedges still outstanding, however, are not taken into account. Any resulting effects on deferred and cash taxes are also eliminated; tax rate 2010: 28.0 % (2009: 27.9 %).

3)  LTM = last twelve months (Q4/09 + Q1/10 + Q2/10 + Q3/10)