KWS SAAT Reports Strong Growth in Preliminary 9-Month Financial Results for 2023/2024

KWS SAAT SE & Co. KGaA has revealed substantial growth in its sales and EBIT for the first nine months of the fiscal year 2023/2024, with an announced increase in full-year forecasts. Sales have risen by 10%, reaching EUR 1,360.4 million, while EBIT surged by 48% to EUR 336.4 million from the previous figures. This growth is significantly driven by the performance in the sugarbeet business segment and includes a notable one-time earnings boost of approximately EUR 30 million from the sale of the Chinese corn business.

As a result of these robust results and the divestiture of the South American corn division, the Executive Board has revised its full-year projections upwards. Sales for the entire fiscal year are now expected to grow by 6 to 8%, with an increased EBIT margin projection of 15 to 17%. The research and development spending ratio is estimated to maintain at around 20%. These improved forecasts reflect the solid ongoing operations excluding the recently discontinued South American corn business. KWS is set to release a detailed quarterly statement on May 14, 2024.