KWS increases forecast for fiscal year 2022/2023
Publication of insider information in accordance with Article 17 of EU-Regulation 596/2014
KWS SAAT SE & Co. KGaA (ISIN DE0007074007)
Einbeck (Germany), May 3, 2023 – Based on preliminary results, the KWS Group's sales rose by around 25% to around EUR1.51 billion in the first nine months of 2022/2023. At EUR 261.2 million, the operating result (EBIT) is significantly higher than in the previous year (EUR 185.9 million). The reason for this development is primarily a significant expansion of business in the Corn and Sugarbeet segments. The strong increase in EBIT is mainly due to higher prices and an advantageous product mix.
Based on this positive business development in the first nine months, the Executive Board is increasing the forecast for the 2022/2023 financial year. KWS now expects to achieve sales growth at the upper end of the previous range of 13-15% (on a comparable basis, excluding currency and portfolio effects).
The EBIT margin* is expected to be 11-12% (previously: 10-11%) as a result of the significant increase in the operating result in the reporting period. As a result, EBIT for the 2022/2023 financial year is expected to be significantly higher than in the previous year (EUR 155.1 million).
The research and development ratio should now be in the range of 18 to 19% (previously: 18 to 20%). Despite an expected strong decline in the financial result, the net income for the year is expected to be significantly higher than the previous year's level (EUR 107.8 million).
KWS will publish the quarterly statement for the first nine months of 2022/2023 on Thursday, May 11, 2023 at 7:00 a.m. CEST and discuss the results in a conference call for analysts and investors at 10:00 a.m. CEST.
* “EBIT Margin” (in %) equals operating income before interest and taxes divided by revenues