KWS SAAT SE & Co. KGaA reported that its earnings after taxes from continuing operations for fiscal year 2024/2025 declined to 140.0 million euros from last year's 184.1 million euros, with earnings per share from continuing operations decreasing to 4.24 euros from 5.58 euros in the prior year.
Including the profit of 96.4 million euros from the sale of the corn and sorghum business in South America, earnings per share increased sharply to 7.16 euros from 3.96 euros in the prior year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 13.4% year-over-year to 350.5 million euros and earnings before interest and taxes (EBIT) decreased by 18.0% to 247.6 million euros from last year. The previous year benefited from a positive one-off effect of 28.1 million euros from divestment of the Chinese corn business. This was partly offset by a positive effect of 7.7 million euros from the reversal of a VAT risks provision in the Sugarbeet Segment.
The KWS Group generated net sales of 1.677 billion euros in fiscal 2024/2025 compared to 1.678 billion euros last year. On a comparable basis, excluding exchange rate and portfolio effects, net sales increased by 1.0%, slightly exceeding the updated guidance issued during the course of the fiscal year.
The company stated that the key figures pertain to KWS's continuing operations, following the completion of the sale of its South American corn and sorghum business, which was finalized on July 31, 2024. This business segment is now classified as a discontinued operation.
KWS said it will present a revised strategic framework and medium-term financial targets for the period 2025-2028. The company aims for organic net sales growth of 3% to 5% and an EBITDA margin of 19% to 21% over the next three years, while rigorously pursuing its sustainability objectives for 2030.
Given the structural strengthening of KWS's financial position and its history of dividend payments at the upper end of the 20-25% payout range, the company now intends to raise the payout ratio to 25-30%, aligning with future profit growth and capital allocation priorities.
The Executive and Supervisory Boards will propose a dividend of 1.25 euros per share for fiscal year 2024/2025, an increase from the previous year's 1.00 euros, to the Annual Shareholders' Meeting on December 3, 2025.
Looking ahead for fiscal year 2025/2026, KWS expects net sales growth on a comparable basis to increase by 3% year over year in fiscal 2025/2026. The net sales forecast thus remains within the medium-term target range despite a generally subdued agricultural environment and an anticipated decline in business in Russia as a result of import restrictions and localization efforts for seed.
In line with the medium-term targets, the EBITDA margin is expected to be in the range of 19% to 21%. This figure does not include a positive one-off effect of around 30 million euros from the sale of license rights as part of the divestment of the North American corn business.
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