March 14 (Reuters) - German salt and potash miner K&S

sees a further decline in core earnings for year

ahead as due to lower potash price levels, it said on Thursday,

after reporting a more than two-thirds fall in its core 2023

profit.

The Hessian-based company expects yearly core earnings to be

within a range of 500 to 650 million euros ($547.05 million -

$711.17 million), compared with analysts' expectations for 556.6

million euros, according to a consensus compiled by Vara

research.

Potash prices fell from near record highs hit in 2022

following a drop in demand, as farmers used up existing

fertiliser stocks and cut back on its use to rein in costs.

For 2023, K&S reported a 71% slump in core profit, posting

earnings before interest, taxes, depreciation and amortization

(EBITDA) of 712 million euros, although above analysts'

expectations for 695.1 million euros, according to consensus

forecasts.

K+S' yearly results echo the wider potash sector's

performance, as companies such as Toronto-listed Nutrien ( NTR )

and U.S-based Mosaic have also seen their

margins dented by lower potash prices.

K+S said it would propose for a dividend of 0.70 euro per

share for the 2023 financial year, above expectations for 0.63

euro per share, according to consensus estimates.

($1 = 0.9140 euros)