K+S Aktiengesellschaft (KPLUY) Q2 2023 Earnings Call Transcript

K+S Aktiengesellschaft (OTCQX:KPLUY) Q2 2023 Earnings Conference Call August 10, 2023 4:00 AM ET

Company Participants

Julia Bock – Head of Investor Relations

Burkhard Lohr – Chief Executive Officer

Christian Meyer – Chief Financial Officer

Conference Call Participants

Markus Mayer – Bank of America

Thomas Swoboda – Société Générale

Christian Faitz – Kepler

Andreas Heine – Stifel

Alexander Jones – Bank of America

Rikin Patel – BNP Exane

Lisa De Neve – Morgan Stanley

Julia Bock

Ladies and gentlemen, welcome to the K+S Second Quarter 2023 Earnings Call. We hope you had a chance to review our posted slides as well as our Q2 documents available on the website. After some opening remarks by Dr. Lohr, we will directly jump into Q&A. Just some technical notes. Please refer to our disclaimer on Page 2 of the presentation. Then a note on data privacy, please note that the Team session will be recorded, webcasted and be available as replay on our home page afterwards. People asking a question in the Team session have to be aware that by turning on the camera and microphone, they give consent to saving and replaying video and audio sequences.

Now I’d like to turn over to Dr. Lohr for the opening remarks.

Burkhard Lohr

Thank you, Julia. Good morning, everybody, and welcome to our Q2 earnings discussion. After my opening remarks, we will directly start with the Q&A session, and I will answer these together with my colleague, Christian Meyer, our CFO. We have good news for you. The potash market finally found the bottom and the worst is behind us. We thought that we would see the turnaround already with the Chinese contract, but MOP selling price in Brazil initially continue to fall and only, but finally bottomed out at the end of the quarter. If the positive demand and price trends continue in the further course of the

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