H1 2020 K+S revenues were down almost 10% at €1,929.2M, from €2,141.9M in H1 2019. Revenues in the Americas unit were stable but lower average prices in the Europe+ unit were not fully offset by higher volumes and exchange rate effects. The other major factor was a downturn in the de-icing salt business, especially during Q1, but Q2 sales of de-icing salt in the Communities business were 0.60Mt compared to 0.86Mt in Q2 2019. H2 2020 Communities de-icing sales were 4.21Mt, nearly 47% lower than the 7.97Mt of H1 2019, following a very mild second half to the 2019/2020 winter.
The diversity of salt markets supplied by K+S helped it partially offset declines in revenues and sales volumes in some markets with increases in others. The fall in de-icing sales and revenues was the most severe but was expected after the mild end to the winter. The effects of COVID-19 were felt in a number of markets. Sales of culinary salts were up because of greater home consumption and growing demand for higher margin products. Sales of water softening and pool salts also rose as did products for the pharmaceutical sector. By contrast, sales volumes to the food service and food processing industries were down as were those of commercial-use water-softening products, as well as those for the oil and gas industry.
Roskill’s Salt: Outlook to 2028, 18th Edition report was published in November 2019. Click here to download the brochure or sample pages for the report, or to access further information.