Börse Express – KWS Saat raises full-year sales forecast

EINBECK (dpa-AFX) – KWS Saat . seed manufacturer
More upbeat about the year as a whole after increases in corn, grain and sugar beet seed sales. In the current fiscal year 2022/23 (as of June 30), sales should now increase 10 to 12 percent on a comparative basis — that is, without currency and portfolio effects — as the SDax-listed company on Monday provided the numbers for its first announced quarter. The company had previously set its sights on an increase of up to 9 percent. Earnings before interest and taxes (EBIT) of 10-11 percent (previous year: 10.1 percent) are expected to remain in effect.

In the first quarter, sales increased by a good one-fifth to €266 million year-over-year. Operating loss (EBIT) decreased from €42.1 million in the previous year to €33.1 million. Usually a loss is incurred in the first quarter. In sum, the missing amount increased by nearly seven percent to 46.2 million euros. Among other things, the financial result fell due to the increase in interest expenses in Brazil and Turkey./mne/stk

 ISIN  DE0007074007

AXC0063 2022-11-14 / 07: 29

Abigail Anderson

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