16.03.2023

Implenia wins another large Subway Tunnelling Project in Oslo

• Implenia wins contract for K2D Skøyen-Vækerø
• Part of Fornebubanen, a major subway tunnelling project in Oslo (Norway)
• Win follows previous work for this project
• Order volume of around CHF 115 million for Implenia  
  
  

15.03.2023

Epiroc wins its largest-ever automation order to work with Roy Hill to create world’s largest single autonomous mine

Epiroc has won its largest-ever automation order, for the work to convert Roy Hill’s mixed fleet of haul trucks to driverless operation in Australia. The on-going work will create the world’s largest single autonomous mine.  

15.03.2023

QRC takes message on coal royalty tax hike direct to homes

The Queensland Resources Council (QRC) is taking its message warning about the threat to local jobs from Palaszczuk Government’s coal royalty tax increase directly to homes in Rockhampton, Townsville and Mackay.  

Market-Place-4.0 K+S AG

15.03.2023

K+S achieves best result in the Company´s history

K+S achieves best result in the Company´s history (Credits: K+S)

“2022 was an outstanding year for K+S,” says Dr. Burkhard Lohr, Chairman of the Board of Executive Directors of K+S Aktiengesellschaft. EBITDA operating earnings more than doubled to €2.4 billion (2021: €1.1 billion). Group revenues increased to €5.7 billion (2021: €3.2 billion).

• Revenues: +77% to €5.7 billion (2021: €3.2 billion)
• EBITDA: more than doubled to €2.4 billion (2021: €1.1 billion)
• Adjusted free cash flow before special effects: €1.2 billion (2021: €0.2 billion)
• Capital return to shareholders of up to a total of €391.4 million or about €2 per share, respectively, by dividend distribution and share buyback in equal parts
• Positive outlook on FY 2023:
  • EBITDA expected to range between €1.3 billion and €1.5 billion
  • Adjusted free cash flow: €700-€900 million expected

“2022 was an outstanding year for K+S,” says Dr. Burkhard Lohr, Chairman of the Board of Executive Directors of K+S Aktiengesellschaft. EBITDA operating earnings more than doubled to €2.4 billion (2021: €1.1 billion). Group revenues increased to €5.7 billion (2021: €3.2 billion). Significantly higher average prices in the Agriculture customer segment and for industrial products containing potash more than offset lower sales volumes and higher costs. By concluding long-term gas supply contracts at an early stage, cost increases for energy in the mid three-digit million euro range were avoided.

“We are also optimistic for the current year”, states Lohr. “EBITDA operating earnings are expected to range between €1.3 billion and €1.5 billion. That would be another very good result!”

Growth in both customer segments

In the Agriculture customer segment, revenues rose sharply to €4.5 billion in the 2022 financial year (2021: €2.3 billion) due to significantly higher average prices and despite lower sales volumes. This was attributable to good demand in the first half of the year, which encountered limited supply on the world market. Potash prices therefore rose again very significantly in all sales regions. The second half of the year experienced a wait-and-see attitude on the part of customers. Accordingly, prices normalized at a high level during this period, although with regional differences.

The Industry+ customer segment, with its wide range of product applications, was characterized overall by a positive trend in demand. Prices rose for both potash and salt products. In 2022, the customer segment reported revenues of €1.2 billion, up around 29% on the previous year (2021: €0.9 billion).

Higher dividend and share buyback proposed

The Board of Executive Directors and the Supervisory Board will propose to the Annual General Meeting a dividend for the 2022 financial year of €1.00 per share (2021: €0.20 per share). Furthermore, the Board of Executive Directors and Supervisory Board have resolved to buy back own shares up to a value of €200 million and subsequently cancel them. The buyback is to begin after the Annual General Meeting on May 10, 2023 and be completed by the end of February 2024 at the latest. Capital of up to about €2 per share would therefore be returned to shareholders. The total capital return to shareholders would be just under €400 million; this is more than 40% of adjusted free cash flow in 2022.

2023 outlook: Very good results expected again

K+S expects demand to increase this year and an attractive price level overall, although at a lower level than in the previous year. The supply of potash from Russia and Belarus will remain limited. At the same time, a further increase in costs, especially for energy, logistics, and materials, as well as higher personnel costs are to be expected. EBITDA is therefore expected to reach a level of between €1.3 billion and €1.5 billion in the current financial year (2022: €2.4 billion). Adjusted free cash flow should range between €700 million and €900 million (2022: €932 million after deducting the use of funds for the full repayment of factoring and the purchase of further CO2 certificates).

Source: K+S

#potash #salt #salts #rock salt #economy #mining economy #raw materials #securing raw materials #raw material supply #resources business #stock market #Germany (DE) #K+S AG #Mining #underground mining

                     

14.03.2023

Balfour Beatty set to protect Communities in Wales through coastal Defence Contracts

Balfour Beatty announces its appointment to deliver two coastal defence schemes valued at a combined c.£97 million on behalf of Denbighshire County Council. The schemes have been awarded through the SCAPE Civil Engineering framework.