EQS-News

KWS reports significant growth in sales and earnings for the first nine months of 2023/2024

EQS-News: KWS SAAT SE & Co. KGaA / Key word(s): Quarterly / Interim Statement KWS reports significant growth in sales and earnings for the first nine months of 2023/2024 14.05.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. KWS reports significant growth in sales and earnings for the first nine months of 2023/2024

• Preliminary key figures confirmed as published on April 30, 2024
• Revenue up 10.4% to €1,360.4 (1,232.2) million (excluding FX effects: +18.4%)
• EBIT rises by 47.8% to €336.4 (227.6) million
• Sugarbeet segment with another strong performance thanks to sustainable solutions
• Sale of Chinese corn business completed with significant positive earnings contribution
• Nicolás Wielandt's Executive Board contract extended

"With an extremely strong sugarbeet season, we have laid the foundation for another successful 2023/2024 fiscal year for KWS," commented Eva Kienle, Chief Financial Officer of KWS. "In addition, with the divestment of our corn activities in China and South America, we are paving the way for our strategic objectives of increased focus on plant-based foods and at the same time higher profitability."

Business development 9M 2023/2024

Following the agreement reached at the end of March 2024 to sell the South American corn business, the key figures for the first nine months of 2023/2024 relate to KWS's continuing operations. The South American corn business will be reported as a discontinued operation in KWS's financial reporting until the transaction is completed.

In the first nine months of fiscal year 2023/2024, the KWS Group's sales increased significantly by 10.4% to €1,360.4 (1,232.2) million. Negative currency effects, especially from Eastern European currencies, the Turkish lira and the US dollar, had a negative impact on sales. On a comparable basis (excluding currency effects), sales increased by 18.4%.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 37.4% to €401.9 (292.4) million, while earnings before interest and taxes (EBIT) rose by 47.8% to €336.4 (227.6) million. EBIT and EBITDA include a one-time positive earnings contribution of approximately €30 million from the completed sale of the Chinese corn portfolio.