K+S Aktiengesellschaft

euro adhoc: K+S Aktiengesellschaft
Earnings Forecast
Depreciation of the US dollar against the euro lowers the operating earnings of the K+S Group by a further EUR 25 million
Corresponding reduction in the previous earnings forecast for EBIT I ...

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23.11.2007

The continued decline in the USD/EUR exchange rate to just under 1.50 USD/EUR has made it necessary to implement a further adjustment in the double-barrier options used by the K+S Group to hedge the US dollar. As a result of the restructuring, the average hedge rate, including premium payment, for 2007 will deteriorate from 1.26 USD/EUR to about 1.33 USD/EUR. In addition, the current USD/EUR exchange rate will probably result in a higher decline in the value of outstanding US dollar receivables. We expect these two effects to reduce operating earnings by about EUR 25 million in total. There will be a corresponding decrease in the previous earnings forecast of between EUR 300 million and EUR 310 million for 2007. Further follow-up hedging costs if the 1.50 USD/EUR mark is exceeded cannot be ruled out depending on how the US dollar evolves.

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ots Originaltext: K+S Aktiengesellschaft
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Christian Herrmann
Investor Relations
Telefon: +49(0)561-9301-1460
E-Mail: Christian.Herrmann@k-plus-s.com

Branche: Chemicals
ISIN:      DE0007162000
WKN:        716200
Index:    Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
              Prime All Share
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / regulated dealing
              Börse Hamburg / regulated dealing
              Börse Stuttgart / regulated dealing
              Börse Düsseldorf / regulated dealing
              Börse Hannover / regulated dealing
              Börse München / regulated dealing



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