Experience Growth
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FINANCIAL REPORT 2010 2010 FINANCIAL REPORT EXPERIENCE GROWTH ← COVER PICTURE EXPERIENCE GROWTH WITH THE K+S GROUP: WE EXTRACT, REFINE AND MARKET NATURAL RAW MATERIALS SUCH AS POTASH AND SALT. OUR FERTILIZERS FACILITATE RICH AND HIGHQUALITY HARVESTS K+S AKTIENGESELLSCHAFT WORLDWIDE. P.O. BOX 10 20 29 34111 KASSEL, GERMANY WWW.K-PLUS-S.COM TENYEAR SUMMARY / BUSINESS SEGMENTS - + BUSINESS SEGMENTS AT A GLANCE IFRS IFRS IFRS IFRS IFRS IFRS IFRS HGB HGB HGB Revenues, Earnings, Cash Flow Revenues million , . , . ,. , . ,. ,. , . ,. ,. ,. Earnings before interest, taxes, depreciation and amortisation EBITDA million . ,. . . . in € million in € million Operating earnings (EBIT I) million . . , . . Revenues ,. ,. , . ,. , . Revenues ,. ,. ,. ,. ,. Result after operating hedges EBIT II million . ,. (106.9) . . — — — EBITDA . ,. . EBITDA . (.) . Earnings before taxes million . ,. (.) . . . EBIT I . . , . EBIT I . (.) . Earnings before taxes, adjusted ¹ million . , . . — — — Capital expenditure . . Capital expenditure . Group earnings million . ( . ) . ² . . Employees (number) , , , , , Employees (number) , , , , , Group earnings, adjusted ¹ million . . ² . . — — — Potash and magnesium crude salts are extracted at six mines. We use them to produce a wide range of fertilizers and, in addition, The Nitrogen Fertilizers business segment distributes fertilizers for almost all agricultural crops. In addition to products for home Gross cash £ ow million . . ,. we process our raw materials into products for industrial applications, high-purity potassium and magnesium salts for the phar- and garden, plant care and plant protection, speciality fertilizers for public green areas, nurseries, horticulture and various special Capital expenditure ³ million . . . maceutical, cosmetics and food industries as well as elements of feed. crops are o¯ ered. Depreciation ³ million . . . . Working capital million . . Balance Sheet Equity million ,. ,. ,. . ,. Property, plant and equipment and intangible assets million , . ,. ,. ,. ,. . Net indebtedness million . , . ,. Balance sheet total million , . ,. , . ,. , . ,. ,. ,. ,. ,. in € million in € million Employees Revenues ,. ,. Revenues . . Employees as of 31 Dec. number , , , , , , , , , , EBITDA . EBITDA . – of which trainees number EBIT I . EBIT I . Average number of employees number , , , , , , , , , , Capital expenditure . Capital expenditure . Personnel expenses million ,. . . . . Employees (number) , , , , , Employees (number) Ratios Salt products of the highest purity and quality are used as food grade salt, industrial salt and salt for chemical use as well as de- In addition to recycling activities and the disposal of waste at potash and rock salt mines as well as the granulation of CATSAN®, Earnings per share, adjusted ¹ . ² . icing salt by winter road clearance services to ensure safety on the roads. They are produced in Germany and in other Western the term “Complementary Business Segments” bundles together further activities of importance to the K+S Group. With Kali- Dividend per share . European countries as well as in North America and South America. Transport Gesellschaft mbH KTG, Hamburg, the K+S Group possesses its own logistics service provider. Chemische Fabrik Kalk GmbH CFK trades in di¯ erent basic chemicals. Dividend yield % . EBITDA margin % . . . EBIT margin % . Return on revenues % . ² . Return on capital employed ROCE % . Return on total investment % . Return on equity after taxes % . ² . Book value per share . Gross cash £ ow per share . . The Share ← Footnotes Ten-Year Summary Closing price as of 31 Dec. XETRA, . . ¹ The adjusted key ´ gures unalteredly only include the realised result from operating forecast hedges of the respective reporting FTE: Full-time equivalents; part-time positions are weighted in accordance with their respective share of working hours. Market capitalisation billion . period. The changes in the market value of operating forecast hedges still outstanding, however, are not taken into account Personnel expenses also include expenditures connected with partial retirement and early retirement. Enterprise value as of 31 Dec. billion . in the adjusted earnings. Related e¯ ects on deferred and cash taxes are also eliminated; tax rate for 2010: 28.2 % (2009: 27.9 %). The ´ gure for 2010 corresponds to the dividend proposal; the dividend yield is based on the year-end closing price. The ½¾¿® Logo identi´ es products which Total number of shares as of 31 Dec. million . ² Without non-recurrent deferred tax income of € 41.9 million or € 0.25 per share. The price of the K+S share since the capital increase in December 2009 has been traded ex subscription right. contain wood from well managed ³ Cash-e¯ ective investments in or depreciation on property, plant and equipment, intangible assets. Historical values were not adjusted. forests certi´ ed in accordance with the rules Outstanding shares as of 31 Dec. million . . Up to the end of 2003 incl. 50 % special reserves and balance from capital consolidation. Total number of shares less the number of own shares held by K+S as of the balance sheet date. Average number of shares ¹ million . . . ¹ Total number of shares less the average number of own shares held by K+S. of the Forest Stewardship Council®. U U TENYEAR SUMMARY / BUSINESS SEGMENTS - + BUSINESS SEGMENTS AT A GLANCE IFRS IFRS IFRS IFRS IFRS IFRS IFRS HGB HGB HGB Revenues, Earnings, Cash Flow Revenues million , . , . ,. , . ,. ,. , . ,. ,. ,. Earnings before interest, taxes, depreciation and amortisation EBITDA million . ,. . . . in € million in € million Operating earnings (EBIT I) million . . , . . Revenues ,. ,. , . ,. , . Revenues ,. ,. ,. ,. ,. Result after operating hedges EBIT II million . ,. (106.9) . . — — — EBITDA . ,. . EBITDA . (.) . Earnings before taxes million . ,. (.) . . . EBIT I . . , . EBIT I . (.) . Earnings before taxes, adjusted ¹ million . , . . — — — Capital expenditure . . Capital expenditure . Group earnings million . ( . ) . ² . . Employees (number) , , , , , Employees (number) , , , , , Group earnings, adjusted ¹ million . . ² . . — — — Potash and magnesium crude salts are extracted at six mines. We use them to produce a wide range of fertilizers and, in addition, The Nitrogen Fertilizers business segment distributes fertilizers for almost all agricultural crops. In addition to products for home Gross cash £ ow million . . ,. we process our raw materials into products for industrial applications, high-purity potassium and magnesium salts for the phar- and garden, plant care and plant protection, speciality fertilizers for public green areas, nurseries, horticulture and various special Capital expenditure ³ million . . . maceutical, cosmetics and food industries as well as elements of feed. crops are o¯ ered. Depreciation ³ million . . . . Working capital million . . Balance Sheet Equity million ,. ,. ,. . ,. Property, plant and equipment and intangible assets million , . ,. ,. ,. ,. . Net indebtedness million . , . ,. Balance sheet total million , . ,. , . ,. , . ,. ,. ,. ,. ,. in € million in € million Employees Revenues ,. ,. Revenues . . Employees as of 31 Dec. number , , , , , , , , , , EBITDA . EBITDA . – of which trainees number EBIT I . EBIT I . Average number of employees number , , , , , , , , , , Capital expenditure . Capital expenditure . Personnel expenses million ,. . . . . Employees (number) , , , , , Employees (number) Ratios Salt products of the highest purity and quality are used as food grade salt, industrial salt and salt for chemical use as well as de- In addition to recycling activities and the disposal of waste at potash and rock salt mines as well as the granulation of CATSAN®, Earnings per share, adjusted ¹ . ² . icing salt by winter road clearance services to ensure safety on the roads. They are produced in Germany and in other Western the term “Complementary Business Segments” bundles together further activities of importance to the K+S Group. With Kali- Dividend per share . European countries as well as in North America and South America. Transport Gesellschaft mbH KTG, Hamburg, the K+S Group possesses its own logistics service provider. Chemische Fabrik Kalk GmbH CFK trades in di¯ erent basic chemicals. Dividend yield % . EBITDA margin % . . . EBIT margin % . Return on revenues % . ² . Return on capital employed ROCE % . Return on total investment % . Return on equity after taxes % . ² . Book value per share . Gross cash £ ow per share . . The Share ← Footnotes Ten-Year Summary Closing price as of 31 Dec. XETRA, . . ¹ The adjusted key ´ gures unalteredly only include the realised result from operating forecast hedges of the respective reporting FTE: Full-time equivalents; part-time positions are weighted in accordance with their respective share of working hours. Market capitalisation billion . period. The changes in the market value of operating forecast hedges still outstanding, however, are not taken into account Personnel expenses also include expenditures connected with partial retirement and early retirement. Enterprise value as of 31 Dec. billion . in the adjusted earnings. Related e¯ ects on deferred and cash taxes are also eliminated; tax rate for 2010: 28.2 % (2009: 27.9 %). The ´ gure for 2010 corresponds to the dividend