KWS posts good start to fiscal year 2026/2027 and confirms forecasts

Einbeck, 11.11.2026

• Net sales rose to 236.5 (228.2) million (organically: +4%)
• Double-digit growth in oilseed rape (12%) underscores leading position in the European market
• Key earnings figures negative due to seasonal reasons; previous year’s numbers impacted substantially by positive special effects
• Forecasts for fiscal year 2026/2027 confirmed

Dr. Jörn Andreas, Chief Financial Officer of KWS, commented: “We’ve got off to a good start to the new fiscal year operationally, in particular thanks to a strong oilseed rape business. In an agricultural environment that remains challenging, we therefore believe we’re on track to achieve our annual targets. We can build on a strong balance sheet as part of that: In the quarter under review, we repaid a significant loan tranche of over €100 million fully from our existing liquidity. That underlines our great financial strength and reinforces our financial profile.”

Business performance in Q1 2026/2027

The KWS Group’s net sales in the first quarter of 2026/2027 rose by 3.6% to €236.5 (228.2) million. This equates to an increase of 3.9% on a comparable basis (excluding exchange rate and portfolio effects). A key factor in this was the positive business performance in the Cereals and Vegetables Segments.

The KWS Group’s key earnings figures for the first quarter are negative due to seasonal reasons. Earnings before net financial income/expenses, taxes, depreciation and amortization (EBITDA) were € −27.1 (4.8 or, excluding the special effect, −24.2) million and earnings before net financial income/expenses and taxes (EBIT) were € −53.0 (−20.9 or, excluding the special effect, −49.9) million. In the same period of the previous year, these two key figures included a positive special effect of €29.0 million from the sale of license rights as part of the sale of the North American corn business.

Net financial income/expenses declined to € −1.7 (6.9) million due to a lower result from equity investments of €0.0 (7.7) million. In the same period of the previous year, the result from equity investments included a positive derecognition effect of €7.7 million from the sale of the shares in the joint ventures of the North American corn business. Earnings before taxes were € −54.7 (−14.0) million. Income taxes totaled € −17.0 (−4.2) million. That gave earnings after taxes of € −37.7 (−9.8) million or € −1.14 (−0.30) per share.

The equity ratio improved to 59.6% (57.7%) and net debt fell to €104.3 (119.0) million.

Business performance of the segments

The Sugarbeet Segment does not generate the major part of its annual net sales until the spring sowing season in Europe and North America in the third quarter (January to March). Net sales in the quarter under review were €33.6 million and thus at the level of the previous year (€34.3 million). The segment’s income (EBITDA) in the first quarter is typically negative and was € −41.3 (−30.5) million.

The Corn Segment does not generate the major part of its annual net sales until the spring sowing season in Europe in the third quarter (January to March). Net sales in the period under review were €6.6 (7.5) million. The segment’s income (EBITDA) in the first quarter is typically negative and was € −30.1 (−1.0 or, excluding the special effect, −30.0) million. In the same period of the previous year, the segment’s income included a positive special effect of €29.0 million from the sale of license rights as part of the sale of the North American corn business.

The Cereals Segment grew its net sales in the quarter under review to €180.1 (172.1) million. The oilseed rape seed business posted a sharp 12% increase in net sales, while net sales from rye seed declined slightly by 2%. The sharp increase in the oilseed rape business was mainly due to our high-performance variety portfolio and positive market conditions. We grew our net sales in particular in Germany and Southeastern Europe. The segment’s income (EBITDA) rose to €84.3 (77.9) million.

Net sales at the Vegetables Segment rose by 16% to €15.3 (13.2) million. This is mainly attributable to higher net sales from spinach seed. Higher net sales of bunched spinach and baby leaf spinach in Europe contributed in particular to this positive performance. As in the same period of the previous year, the segment’s income (EBITDA) was negative at € −7.9 (−6.9) million due to planned expenditure on expanding vegetable breeding.

Net sales in the Corporate Segment, which are mainly generated by KWS’ farms in Germany, France and Poland, were €0.9 (1.2) million. The segment’s income (EBITDA) was € −32.1 (−34.7) million. Since all cross-segment costs for the KWS Group’s central functions and basic research expenditure are charged to the Corporate Segment, its income is usually negative.

Forecasts for fiscal year 2026/2027 confirmed

Assuming that there is a recovery in the agricultural environment, KWS expects net sales in fiscal 2026/2027 (on a comparable basis, excluding exchange rate and portfolio effects) to grow by around 3% compared with the previous year. KWS expects the EBITDA margin to be in a range between 19% and 20% in line with its medium-term targets.

KWS is one of the world’s leading plant breeding companies. Around 5,200 employees* in over 70 countries generated net sales of approximately €1.63 billion in fiscal 2025/2026. KWS has operated independently as a family business for 170 years. It focuses on plant breeding and the production and sale of seed for sugarbeet, corn, 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 approximately €342 million in fiscal year 2025/2026 in research and development.

* Excluding seasonal workers