K+S Group Net Income Down, Earnings from Continued Operations Up

K+S Group reported net income for the second quarter of €28.7 million, over €76.4 million last year. Earnings per share dropped to €0.15 from €0.40 a year ago.

Earnings from continued operations rose to €126.2 million or €0.66 per share from €64.7 million or €0.34 per share in the prior year quarter.

Adjusted earnings from continued operations were €126.8 million or €0.66 per share, compared to €85.9 million or €0.45 per share last year.

Operating earnings before interest and taxes climbed 38% year-over-year to €191.9 million from €138.9 million a year ago.

Quarterly revenues also jumped to €1.05 billion from €948.1 million in the previous year.

"Thanks to our strong fertilizer business we were able to significantly increase revenues and earnings of the K+S Group also in the second quarter compared to the previous year," said Chairman Norbert Steiner.

Looking forward, the company now anticipates full-year adjusted earnings per share from continued operations between €3.40 and €3.75 and revenues of €5 billion and €5.30 billion.