The interim reports of the K+S Group have been prepared in accordance with International Financial Reporting Standards (IFRSs) since 2005. The valuation principles applied in these quarterly financial statements correspond to those applied to the corresponding period. The interim figures are unaudited.
As a result of the SPL acquisition, the scope of consolidation as of 30 June 2006 was extended to include 19 companies for the first time; they are included in group earnings as of the third quarter.
| Income statement |
Oct. - Dec. (Q4) |
Jan. - Dec. (12M) |
|
| € million |
2006 |
2005 |
2006 |
2005 |
|
| Revenues |
732.0 |
716.0 |
2,957.7 |
2,815.7 |
|
| Cost of sales |
460.0 |
439.9 |
1,913.9 |
1,811.2 |
|
| Gross profit |
272.0 |
276.1 |
1,043.8 |
1,004.5 |
|
| Gross margin in % |
37.2 |
38.6 |
35.3 |
35.7 |
|
| Selling expenses |
206.9 |
178.2 |
728.1 |
673.0 |
|
| - of which freight costs |
121.3 |
106.2 |
431.5 |
394.2 |
|
| General and administrative expenses |
23.4 |
18.1 |
82.1 |
71.7 |
|
| Research and development costs |
3.7 |
3.1 |
13.8 |
13.0 |
|
| Other operating income/expenses |
15.7 |
(32.5) |
56.4 |
(5.0) |
|
| Income from investments, net |
0.1 |
4.6 |
1.8 |
9.1 |
|
| Operating earnings (EBIT I) |
53.8 |
48.8 |
278.0 |
250.9 |
|
| Operating EBIT margin in % |
7.3 |
6.8 |
9.4 |
8.9 |
|
| Market value changes from hedging transactions |
(21.6) |
1.0 |
83.6 |
20.8 |
|
| Earnings after market value changes (EBIT II) |
32.2 |
49.8 |
361.6 |
271.7 |
|
| Interest income, net |
(10.9) |
(4.4) |
(27.5) |
(17.8) |
|
| Other financial result |
2.1 |
(0.5) |
7.4 |
5.7 |
|
| Financial result |
(8.8) |
(4.9) |
(20.1) |
(12.1) |
|
| Earnings before income taxes |
23.4 |
44.9 |
341.5 |
259.6 |
|
| Earnings before income taxes, adjusted* |
45.0 |
43.9 |
257.9 |
238.8 |
|
| Taxes on income |
(39.8) |
8.6 |
70.3 |
85.2 |
|
| - of which deferred taxes |
(39.1) |
0.3 |
20.4 |
35.5 |
|
| Earnings after taxes** |
63.2 |
36.3 |
271.2 |
174.4 |
|
| Minority interests in earnings |
0.4 |
0.0 |
0.4 |
0.0 |
|
| Group earnings after taxes and minority interests** |
62.8 |
36.3 |
270.8 |
174.4 |
|
| Elimination of market value changes |
13.6 |
(0.6) |
(52.7) |
(13.1) |
|
| Group earnings after taxes, adjusted*, ** |
76.4 |
35.7 |
218.1 |
161.3 |
|
| |
|
|
|
|
|
| Earnings per share in € (undiluted ^= diluted)** |
1.52 |
0.87 |
6.57 |
4.12 |
|
| Earnings per share in €, adjusted*, ** |
1.85 |
0.86 |
5.29 |
3.81 |
|
| Average number of shares (million) |
41.25 |
41.70 |
41.24 |
42.31 |
|
| Statement of changes in equity |
Subscribed
capital |
Additional paid-
in capital |
Profit
retained/
revenue
reserves |
Differences
from foreign
currency
translation |
Fair value
reserve |
Minority
interests |
Equity |
|
| € million |
|
|
|
|
|
|
|
|
| Balance as of 1 January 2006 |
108.8 |
8.7 |
804.6 |
(0.2) |
20.2 |
0.0 |
942.1 |
|
| Dividend for previous year |
– |
– |
(74.3) |
– |
– |
– |
(74.3) |
|
| Earnings after taxes for the period |
– |
– |
270.8 |
– |
– |
0.4 |
271.2 |
|
| Subscription of employee shares |
– |
(0.9) |
– |
– |
– |
– |
(0.9) |
|
| Market value of securities |
– |
– |
– |
– |
8.1 |
– |
8.1 |
|
| Consolidation effects |
– |
0.1 |
(1.7) |
(15.4) |
(0.1) |
0.2 |
(16.9) |
|
| Other neutral changes |
– |
– |
(2.0) |
(0.1) |
(2.9) |
– |
(5.0) |
|
| Balance as of 31 December 2006 |
108.8 |
7.9 |
997.4 |
(15.7) |
25.3 |
0.6 |
1,124.3 |
|
| Balance as of 1 January 2005 |
108.8 |
4.7 |
757.1 |
(1.6) |
11.6 |
– |
880.6 |
|
| Dividend for previous year |
– |
– |
(55.3) |
– |
– |
– |
(55.3) |
|
| Earnings after taxes for the period |
– |
– |
174.4 |
– |
– |
– |
174.4 |
|
| Cancellation of own shares |
– |
– |
(66.7) |
– |
– |
– |
(66.7) |
|
| Subscription of employee shares |
– |
4.0 |
– |
– |
– |
– |
4.0 |
|
| Market value of securities |
– |
– |
– |
– |
8.0 |
– |
8.0 |
|
| Consolidation effects |
– |
0.0 |
0.0 |
0.1 |
– |
– |
0.1 |
|
| Other neutral changes |
– |
– |
(4.9) |
1.3 |
0.6 |
– |
(3.0) |
|
| Balance as of 31 December 2005 |
108.8 |
8.7 |
804.6 |
(0.2) |
20.2 |
– |
942.1 |
|
