KWS SAAT & (KWS) Investor presentation summary

Strategic positioning and growth drivers

• Focus on innovation in plant breeding, leveraging a heritage since 1856 and a broad crop portfolio for sustainable, profitable growth.

• Addresses global agricultural challenges with resilient varieties, digital solutions, and input reduction.

• Growth driven by leadership in field crops, expansion in high-value segments like vegetables and food ingredients, and advanced trait development.

• Strong R&D investment (€342m, 38% of employees in R&D) and over 500 new variety approvals in FY 2025/26.

• Capital allocation balances organic growth, M&A, and increasing dividends, with a payout ratio target of 25-30%.

Financial performance and segment highlights

• FY 2025/26 net sales at €1,627m (-1% YoY), EBITDA €343m (-2%), and net income €158m (+13%).

• Sugarbeet segment: €854m sales, 42% EBITDA margin, 63% of sales from innovations like CONVISOⓇ SMART and CR+.

• Corn segment: €434m sales, 21% EBITDA margin, market share gains in Europe, and €29m one-off from license sale.

• Cereals segment: €264m sales, 13% EBITDA margin, strong rapeseed growth (+24%), but declines in rye, wheat, and barley.

• Vegetables segment: €68m sales, negative EBITDA due to investment in breeding and sales, with a focus on pipeline expansion.

Innovation and technology

• Track record of first-in-class inventions, including disease resistance and herbicide tolerance traits.

• Hybridization and genome editing accelerate trait development, enabling faster market entry and higher value capture.

• Technology backbone includes bioinformatics, genomics, digital phenotyping, and CRISPR.

• Development of new varieties takes up to 10 years, with a robust pipeline supported by 527 new approvals in FY 2025/26.