Financial Section

  For an explanation of the amendments to accounting standards that have been applied for the first time since the beginning of financial year 2009, please see here.
 
 
Statement of income for the period
€ million Q3/09 Q3/08 9M/09 9M/08
Revenues 698.1 1,441.4 2,512.5 3,838.9
Cost of sales 474.3 737.3 1,611.3 2,084.2
Gross profit 223.8 704.1 901.2 1,754.7
Selling expenses 155.7 178.6 504.5 589.1
General and administrative expenses 23.6 25.8 83.2 76.9
Research and development costs 5.6 4.6 14.1 13.2
Other operating income 31.6 48.2 101.9 78.1
Other operating expenses 51.6 43.4 167.6 109.5
Income from investments, net 2.0 0.9 2.8 1.5
Result from operating forecast hedges 1) (3.5) (32.7) (28.5) (139.3)
Result after operating hedges (EBIT II) 2) 17.4 468.1 208.0 906.3
Interest income 0.7 0.6 2.8 2.4
Interest expenses (24.5) (9.2) (42.1) (36.7)
Other financial result 12.1 0.5 (57.4) 12.0
Financial result (11.7) (8.1) (96.7) (22.3)
Earnings before income taxes 5.7 460.0 111.3 884.0
Taxes on income 1.9 126.3 30.2 239.2
- of which deferred taxes 13.0 5.9 6.2 46.0
Net income 3.8 333.7 81.1 644.8
Minority interests in earnings 0.1 0.2 0.3 0.3
Group earnings after taxes and minority interests 3.7 333.5 80.8 644.5
Earnings per share in € (undiluted ≙ diluted) 0.02 2.02 0.49 3.91
         
Operating earnings (EBIT I) 9.4 502.2 201.5 1,054.9
Earnings before income taxes, adjusted 3) (2.3) 494.1 104.8 1,032.6
Group earnings, adjusted 3) (2.1) 358.1 76.1 751.8
Earnings per share in €, adjusted 3) (0.01) 2.17 0.46 4.56
Average number of shares (million) 165.00 165.00 164.91 164.93
         

 

Statement of comprehensive income for the period
€ million Q3/09 Q3/08 9M/09 9M/08
Net income 3.8 333.7 81.1 644.8
Available-for-sale financial assets – (0.1) – (20.3)
Foreign currency translation (18.7) 36.6 (25.6) 10.8
Cashflow hedge (28.8) – (28.8) –
Earnings without recognition in profit or loss (47.5) 36.5 (54.4) (9.5)
Comprehensive income (43.7) 370.2 26.7 635.3
Minority interests in comprehensive income 0.1 0.2 0.3 0.3
Group comprehensive earnings after taxes and minority interests (43.8) 370.0 26.4 635.0
         

 

Operating earnings (EBIT I)
€ million Q3/09 Q3/08 9M/09 9M/08
Result after operating hedges (EBIT II) 2) 17.4 468.1 208.0 906.3
+/- Result from operating forecast hedges 1) 3.5 32.7 28.5 139.3
+/- Realized earnings from operating forecast hedges (11.5) 1.4 (35.0) 9.3
Operating earnings (EBIT I) 9.4 502.2 201.5 1,054.9
         

1)  Last year includes earnings from derivatives that are no longer in operation.

2)  The K+S Group is managed on the basis of operating earnings (EBIT I). EBIT II is reconciled to operating earnings (EBIT I) below the income statement. The allocation of EBIT I to the individual business segments can be found in the summary by quarter on page 39.

3)  The adjusted figures only contain the result from operative forecast hedges already realised during the current period. By contrast, changes in the market value of operative forecast hedges still outstanding are not taken into account. The effects on deferred and cash taxes are also eliminated; Q3/09 tax rate: 27.9 % (Q3/08: 27.8 %).

 


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