KWS SAAT & (KWS) Q2 2025 earnings summary

Executive summary

• Achieved double-digit growth in sales and earnings for FY 2023/24, with net sales up 12% to €1,678.1m and EBIT up 55% to €302.0m.

• Expanded global leadership in sugarbeet seeds and received a record number of new variety approvals.

• Divested corn businesses in China and South America, generating significant one-time gains and reducing financial leverage.

• Increased dividend to €1.00 per share, up 11% year-over-year.

• Group net income improved due to gains from discontinued operations, notably the South American divestment.

Financial highlights

• Net sales rose 12% year-over-year to €1,678.1m; EBIT margin improved to 18.0% from 13.0%.

• Net income increased 46% to €184.1m; EPS up 46% to €5.58.

• Free cash flow reached €56.8m; CAPEX increased to €139.9m.

• Equity ratio improved to 54.2% as of H1 2024/25; net debt reduced to €343m.

• Free cash flow from continuing operations improved; discontinued operation contributed €270.8m.

Outlook and guidance

• FY 2024/25 sales expected to grow 2–4% (comparable basis), with EBIT margin forecast at 14–16%.

• Continued high R&D investment planned at 18–19% of sales.

• One-time gain of ~€100m after tax expected from South America corn divestment.

• Segment forecasts unchanged; risks from localization and import restrictions in Russia and Ukraine conflict noted.