25.11.2004 – 17:21
euro adhoc: K+S Aktiengesellschaft
K+S adjusts US-Dollar hedging /
Positive outlook for 2005 unchanged
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Altered market conditions have induced K+S Group to modify the US-Dollar hedging based on range options. All outstanding options for the years 2005, 2006 and 2007 now carry upper knock-outs of at least 1.40 USD/EUR. As a consequence of this restructuring, the weighted average hedging rate incl. premium payments will increase from 1.06 USD/EUR to 1.11 USD/EUR for the year 2005. For the years 2006 and 2007, net hedging rates will remain unchanged at 1.04 USD/EUR and 1.02 USD/EUR, respectively.
For the year 2005, the board of executive directors of K+S AG is unalteredly confident for the earnings perspective. Besides the commenced efficiency enhancements, this outlook is based on strong demand, especially in the potash and magnesium business segment; in these markets, price increases are already announced and further increases are likely.
end of announcement euro adhoc 25.11.2004 16:41:59
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