The KWS Group (ISIN: DE0007074007) generated net sales of €857.7 million, at the level of the previous year (€862.5 million), in the first nine month 2018/2019. Operating income (EBIT) and earnings per share rose slightly. Higher earnings in Corn and Cereals segments offset decline in Sugarbeet result.
“Our business continued to perform well in a challenging environment,” said Eva Kienle, Chief Financial Officer of KWS SAAT SE. “Given that the spring sowing season was pleasing by and large, we expect a slight increase in net sales and an EBIT margin in the upper range of our forecast for the full year.”
Net sales in the first nine months of 2018/2019 were €857.7 million and thus at the level of the previous year (€862.5 million). The strong decline in value of a number of local currencies in countries where the KWS Group operates had negative effects on net sales, which are consolidated in euros.
The KWS Group’s operating income (EBIT) improved by 2.4% to €173.1 (169.0) million. An increase in gross profit was partly offset by higher function costs for research and development, sales and administration. The balance of other operating income and other operating expenses rose as a result of non-recurring income from the sale of a company participation, as well as positive effects from receivables management activities.
Net financial income/expenses was €9.8 (11.7) million and thus down on the previous year, mainly due to a fall in the interest result to € –7.4 (–5.1) million. Net income from our equity-accounted companies improved slightly to €17.2 (16.8) million.
Income taxes totaled € –54.8 (–56.5) million. Net income for the period and earnings per share improved slightly to €128.1 (124.1) million and €3.88 (3.76) respectively.