Rapeseed sowing. (KWS photo)

  • Sales at €267.7 (266.3) million at the previous year's level
  • Strong growth in European autumn sowing
  • Earnings figures negative on a regular basis
  • Forecasts for the 2023/2024 financial year confirmed

(November 9, 2023) - “For us, the European business with winter crops is particularly crucial in the first quarter; we were able to make good growth here with our strong portfolio, especially in the rapeseed sector,” commented Eva Kienle, CFO of KWS. “Despite climatic and geopolitical challenges, we are confident about the rest of the financial year and confirm our forecasts.”

Business development Q1 2023/2024

The KWS Group's sales revenue increased by 0.5% in the first three months of the 2023/2024 financial year and reached a value of €267.7 (266.3) million. Overall, currency effects had a minor impact on sales. The KWS Group's operating earnings figures are, as regularly, negative in the first quarter. EBITDA amounted to €–21.3 (–7.1) million and EBIT was €–48.3 (–33.1) million. A higher gross profit was offset by planned higher costs for research & development, selling and administration. At €–28.4 (–29.8) million, the financial result was at the same level as the previous year. Income taxes amounted to €–21.5 (–16.7) million. This resulted in a result after taxes of €–55.3 (–46.2) million or €–1.67 (–1.40) per share. Free cashflow fell to €–122.4 (–72.0) million, mainly due to the development of operating earnings and the build-up of working capital in the course of the planned business expansion.

For more information, see KWS publishes results for the first quarter of 2023/2024 and confirms forecasts.

KWS is one of the world’s leading plant breeding companies. More than 5,000 employees* in over 70 countries generated net sales of around €1.8 billion in fiscal 2022/2023. A company with a tradition of family ownership, KWS has operated independently for over 165 years. It focuses on plant breeding and the production and sale of seed for corn, sugarbeet, cereals, vegetables, oilseed rape and sunflowers. KWS uses leading-edge plant breeding methods to continuously improve yield for farmers and plants’ resistance to diseases, pests and abiotic stress. To that end, the company invested more than €300 million last fiscal year in research and development.

*Excluding seasonal workers

For more information: www.kws.com.