KWS SAAT SE & Co. KGaA / DE0007074007

KWS SAAT SE & Co. KGaA: Based on preliminary key figures, KWS significantly exceeds forecasts for fiscal year 2023/2024 and publishes outlook for fiscal year 2024/2025

EQS-Ad-hoc: KWS SAAT SE & Co. KGaA / Key word(s): Preliminary Results/Forecast
KWS SAAT SE & Co. KGaA: Based on preliminary key figures, KWS significantly exceeds forecasts for fiscal year 2023/2024 and publishes outlook for fiscal year 2024/2025

16-Aug-2024 / 10:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Disclosure of inside information pursuant to Article 17 of Regulation (EU) No 596/2014 KWS SAAT SE & Co. KGaA: Based on preliminary key figures, KWS significantly exceeds forecasts for fiscal year 2023/2024 and publishes outlook for fiscal year 2024/2025 KWS SAAT SE & Co. KGaA (ISIN DE0007074007) Einbeck (Germany), August 16, 2024 – KWS SAAT SE & Co. KGaA ("KWS") achieved high growth in sales and EBIT in fiscal year 2023/2024 and significantly exceeded full-year forecasts. Based on preliminary, unaudited key figures, revenue in the 2023/2024 financial year increased by around 12% year-on-year to EUR 1,678 million (previous year: EUR 1,500.3 million) against the backdrop of another strong business performance in the final quarter. This corresponds to growth on a comparable basis of around 16% (forecast: 11 – 13%). EBIT rose by more than 50% to approx. EUR 300 million (previous year: EUR 195.1 million), with the corresponding EBIT margin reaching around 18% (forecast: 15 – 17%). The research and development ratio was 19.4% (forecast: approx. 20%). The significant increase in sales and EBIT is attributable in particular to the successful business performance in the Sugarbeet segment. In addition, EBIT includes a positive one-off earnings contribution (EUR 28 million) from the sale of the Chinese corn business (including licenses). Following the agreements reached at the end of March 2024 on the sale of the South American corn business, the reported preliminary key figures relate to KWS's continuing operations, and the corresponding key figures for the previous year have been adjusted accordingly. Outlook for the 2024/2025 financial year The Executive Board of the general partner of KWS SAAT SE & Co. KGaA, KWS SE, expects sales growth of 2 – 4% (on a comparable basis, excluding currency effects) for fiscal year 2024/2025. The lower growth momentum compared to previous years is attributable to the generally subdued agricultural environment and an expected significant decline in business in Russia as a result of import restrictions and efforts to localize seed production. The EBIT margin is forecast to be in a range of 14 – 16 %, and the research and development ratio is expected to be in a range of 18 – 19%. In addition, according to preliminary calculations, the Management Board expects the recently completed sale of the South American corn business to have a positive one-off effect on earnings from discontinued operations of approximately EUR 100 million (after tax). The purchase price amounted to a mid three-digit million euro amount. The transaction will have a significant positive impact on key financial indicators of the KWS Group. Since most of the proceeds from the sale will be used to reduce debt, KWS expects a significant improvement in financial leverage (net debt/EBITDA) and equity ratio in the future, as well as a significant reduction in interest expenses. KWS will publish its Annual Report 2023/2024 as planned on September 26, 2024. For an explanation of the financial ratios EBIT, EBIT margin and comparable revenue growth used, please refer to the statements in the KWS Annual Report 2022/2023, p. 24f. and p. 89.   Notifying person: Peter Vogt
Head of Investor Relations
Phone [phone]
E-Mail: [e-mail]
KWS SAAT SE & Co. KGAA
www.kws.com  


 

End of Inside Information

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16-Aug-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:	English
Company:	KWS SAAT SE & Co. KGaA
	Grimsehlstraße 31
	37555 Einbeck
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.kws.de
ISIN:	DE0007074007
WKN:	707400
Indices:	S-DAX
Listed:	Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1969641

End of Announcement	EQS News Service

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1969641  16-Aug-2024 CET/CEST