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. As a result of the SPL acquisition, the scope of consolidation as of 30 June 2006 was extended to include 19 companies in the Group balance sheet for the first time; they are included in Group earnings as of the third quarter 2006.
| Income statement |
Apr. - Jun. (Q2) |
Jan. - Jun. (H1) |
| € million |
2007 |
2006 |
2007 |
2006 |
| Revenues |
778.6 |
700.1 |
1,723.3 |
1,555.6 |
| Cost of sales |
533.1 |
478.5 |
1,157.7 |
998.1 |
| Gross profit |
245.5 |
221.6 |
565.6 |
557.5 |
| Gross margin in % |
31.5 |
31.7 |
32.8 |
35.8 |
| Selling expenses |
181.8 |
163.5 |
385.5 |
364.7 |
| General and administrative expenses |
25.4 |
20.1 |
45.5 |
37.7 |
| Research and development costs |
3.5 |
3.8 |
7.5 |
6.9 |
| Other operating income/expenses |
34.4 |
24.4 |
45.2 |
23.2 |
| Income from investments, net |
0.2 |
0.8 |
0.4 |
1.1 |
| Operating earnings (EBIT I) |
69.4 |
59.4 |
172.7 |
172.5 |
| Operating EBIT margin in % |
8.9 |
8.5 |
10.0 |
11.1 |
| Market value changes from hedging transactions |
9.0 |
8.2 |
12.0 |
59.9 |
| Earnings after market value changes (EBIT II) |
78.4 |
67.6 |
184.7 |
232.4 |
| Interest income, net |
(5.9) |
(3.5) |
(15.0) |
(9.2) |
| Other financial result |
(0.4) |
3.3 |
(1.1) |
3.1 |
| Financial result |
(6.3) |
(0.2) |
(16.1) |
(6.1) |
| Earnings before income taxes |
72.1 |
67.4 |
168.6 |
226.3 |
| Earnings before income taxes, adjusted* |
63.1 |
59.2 |
156.6 |
166.4 |
| Taxes on income |
24.2 |
23.3 |
56.1 |
78.4 |
| - of which deferred taxes |
6.5 |
10.5 |
11.1 |
40.7 |
| Earnings after taxes |
47.9 |
44.1 |
112.5 |
147.9 |
| Minority interests in earnings |
– |
– |
0.1 |
– |
| Group earnings after taxes and minority interests |
47.9 |
44.1 |
112.4 |
147.9 |
| Elimination of market value changes after taxes |
(5.7) |
(5.1) |
(7.6) |
(37.7) |
| Group earnings after taxes, adjusted* |
42.2 |
39.0 |
104.8 |
110.2 |
| |
|
|
|
|
| Earnings per share in € (undiluted ^= diluted) |
1.16 |
1.07 |
2.73 |
3.59 |
| Earnings per share in €, adjusted* |
1.02 |
0.95 |
2.54 |
2.67 |
| Average number of shares (million) |
41.23 |
41.21 |
41.22 |
41.20 |
| |
|
|
|
|
Statement of changes in equity
€ million |
Subscribed
capital |
Additional
paid-in
capital |
Profit
retained/
revenue
reserves |
Differences
from foreign
currency
translation |
Fair value
reserve |
Minority
interests |
Equity |
| Balance as of 1 January 2007 |
108.8 |
7.9 |
997.5 |
(15.7) |
25.3 |
0.6 |
1,124.4 |
| Dividend for previous year |
– |
– |
(82.5) |
– |
– |
– |
(82.5) |
| Earnings after taxes for the period |
– |
– |
112.4 |
– |
– |
0.1 |
112.5 |
| Subscription of employee shares |
– |
(2.7) |
– |
– |
– |
– |
(2.7) |
| Market value of securities |
– |
– |
– |
– |
2.7 |
– |
2.7 |
| Other neutral changes |
– |
– |
(0.3) |
(7.3) |
0.2 |
– |
(7.4) |
| Balance as of 30 June 2007 |
108.8 |
5.2 |
1,027.1 |
(23.0) |
28.2 |
0.7 |
1,147.0 |
| Balance as of 1 January 2006 |
108.8 |
8.7 |
804.6 |
(0.2) |
20.1 |
0.1 |
942.1 |
| Dividend for previous year |
– |
– |
(74.2) |
– |
– |
– |
(74.2) |
| Earnings after taxes for the period |
– |
– |
147.9 |
– |
– |
– |
147.9 |
| Subscription of employee shares |
– |
(3.8) |
– |
– |
– |
– |
(3.8) |
| Market value of securities |
– |
– |
– |
– |
2.5 |
– |
2.5 |
| Consolidation effects |
– |
– |
– |
0.9 |
– |
0.6 |
1.5 |
| Other neutral changes |
– |
– |
2.7 |
– |
(9.4) |
– |
(6.7) |
| Balance as of 30 June 2006 |
108.8 |
4.9 |
881.0 |
0.7 |
13.2 |
0.7 |
1,009.3 |
| |
|
|
|
|
|
|
|
