17.05.2018 KWS SAAT SE  DE0007074007

DGAP-News: KWS in line with earnings targets despite challenging markets

DGAP-News: KWS SAAT SE / Key word(s): 9-month figures KWS in line with earnings targets despite challenging markets 17.05.2018 / 07:30 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Einbeck, May 17, 2018 No. 18 | ww KWS in line with earnings targets despite challenging markets Net sales slightly lower due to currency influences - Rise in costs, especially due to realignment of the company's organization - EBIT stable - Earnings expectations for the year as a whole unchanged The KWS Group (ISIN: DE0007074007) recorded a 4.7% fall in net sales to EUR862.5 million due to exchange rate influences in the first nine months of fiscal 2017/2018. The decline was attributable to the regions Brazil, Argentina, North America and Turkey and related primarily to the corn seed business. KWS grew its net sales in Europe on the back of good sugarbeet and cereal seed business. The KWS Group was able to maintain its EBIT at the good level of the previous year despite the decline in net sales, higher expenditure on realignment of the company's organization, and the fact that there were no positive special effects as in the previous year. EBIT totaled EUR169.0 (previous year: 170.1) million. KWS still assumes that its earnings will remain unchanged for the year as a whole and that it will post an EBIT margin of between 11% and 12%. "KWS is performing in line with our earnings targets. That's an excellent achievement in view of the difficult market environment for corn and our reorganization projects," stated Eva Kienle, Chief Financial Officer of KWS SAAT SE. Excluding the largely negative exchange rate influences, net sales would have been EUR893.6 million, a slight fall of 1.2% and thus virtually at the level of the previous year. At the same time, net selling expenses did not increase and remained stable. However, research and development expenditure was increased by just over 3%. IT project costs and optimization of administration were the main factors for the rise in administrative expenses. Earnings in the previous year were also impacted by a positive special effect from sugarbeet seed processing. The EBIT generated in the third quarter is vital to the company's success for the year as a whole. It was EUR169.0 (170.1) million after nine months. Net income after taxes for the period declined by 3.4% to EUR124.1 (128.5) million. Segment reports: Sugarbeet and cereal seed business expanded Net sales at the Corn Segment in the first nine months of fiscal 2017/2018 totaled EUR575.9 (691.4) million. The 16.7% decline is mainly due to the performance of our corn and soybean seed business in Brazil, significant negative exchange rate influences, and transfer of rapeseed activities to the Cereals Segment. If exchange rates had been at the level of the previous year, the segment's net sales would have been EUR616.2 million, or a fall of 10.9%. Very wet weather in the spring in extensive parts of Europe resulted in a later sowing season for corn and so meant there was a shift in net sales to the fourth quarter. Net sales of corn seed in China rose again after the disappointing previous year. The segment's EBIT was EUR61.8 (87.2) million, this drop being mainly attributable to lower contribution margins from net sales as well as negative exchange rate influences. Net sales at the Sugarbeet Segment were EUR369.6 million, exceeding the good level for the same period of the previous year (EUR358.6 million). Sales were up sharply, even though cultivation area in the EU remained largely stable. This trend more than compensated for the declines in net sales in North America (due to exchange rate influences) and Turkey (due to exchange rate influences and market-related factors). Business was largely positive in the other regions as well. In Eastern and Southeastern Europe, the launch of initial varieties with CONVISO SMART technology went successfully and according to plan. The segment's income was EUR154.7 (137.1) million, this increase being attributable to higher sales and the fact that the company no longer has to pay royalties in North America. At the same time, research and development expenditure was increased significantly. Net sales at the Cereals Segment in the first nine months of fiscal 2017/2018 were well up over the previous year, rising by 42.0% to EUR137.6 (96.9) million. In addition to the fact that all rapeseed activities were transferred to this segment at the beginning of fiscal 2017/2018, winter cereal and winter rapeseed business performed very positively. There was also a slight increase in demand for summer cereal and summer rapeseed due to the wet weather in the winter and spring. All in all, net sales for all the segment's key crops rose. In particular, good hybrid rye seed business had a positive impact on the segment's earnings, which increased to EUR30.6 (17.0) million. Net sales in the Corporate Segment totaled EUR3.2 (4.3) million. Costs for strengthening our IT infrastructure and optimizing the company's administration resulted in a (largely planned) increase in general administrative expenses. Research expenditure was increased slightly, while additional marketing measures also led to a rise in selling expenses. The segment recorded higher currency gains compared to the previous year. The segment's income totaled EUR -59.1 (-48.1) million. Reconciliation table In EUR million Segments Reconciliation KWS Group1 Net sales 1,086.3 -223.8 862.5 EBIT 188.0 -19.0 169.0 Forecast: Earnings target for the year as a whole will likely be achieved KWS anticipates lower net sales for the fiscal year as a whole in Europe, North America and South America, in particular given that the market situation in corn seed business is still challenging. KWS currently assumes in its guidance that the Group's net sales for the fiscal year as a whole (ending June 30, 2018) will remain stable. The company expects that the KWS Group's earnings will be in the forecast range of 11% to 12% - despite the decline in net sales from corn and the increase in expenditure aimed at securing the future development - and so KWS is sticking to its guidance here. The R&D intensity is expected to be around 18%. KWS anticipates that capital spending will be around EUR100 million in accordance with the corporate planning. The 9M Quarterly Report can be downloaded on the Internet at www.kws.de/ir. About KWS1 KWS is one of the world's leading plant breeding companies. In fiscal 2016/2017, 4,950 employees in 70 countries generated net sales of EUR1,080 million and earnings before interest and taxes (EBIT) of EUR132 million. A company with a tradition of family ownership, KWS has operated independently for more than 160 years. It focuses on plant breeding and the production and sale of seed for corn, sugarbeet, cereals, rapeseed and sunflowers. KWS uses leading-edge plant breeding methods to continuously improve yield and resistance to diseases, pests and abiotic stress. To that end, the company invested EUR190 million last fiscal year in research and development, 17 percent of its net sales. For more information: www.kws.de. Follow us on Twitter(R) at https://twitter.com/KWS_Group. 1 All figures excluding the shares of the equity-accounted companies AGRELIANT GENETICS LLC., AGRELIANT GENETICS INC. and KENFENG - KWS SEEDS CO., LTD. Contact: Wolf-Gebhard von der Wense Head of Investor Relations Phone: +49-5561-311-968 Mobile: +49-151-18855673 [email protected] KWS SAAT SE www.kws.de --------------------------------------------------------------------------- 17.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: KWS SAAT SE Grimsehlstraße 31 37555 Einbeck Germany Phone: +49 (0)5561 311-0 Fax: +49 (0)5561 311-322 E-mail: [email protected] Internet: www.kws.de ISIN: DE0007074007 WKN: 707400 Indices: S-DAX Listed: Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 686845 17.05.2018

Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 1.036,77 1.075,24 1.068,01 1.113,34 1.282,55 1.310,23 1.395,00
EBITDA1,2 160,95 180,94 182,42 198,72 225,50 230,86 234,50
EBITDA-Marge3 15,52 16,83 17,08 17,85 17,58 17,62 16,81
EBIT1,4 112,76 131,59 132,56 149,99 137,37 137,03 139,50
EBIT-Marge5 10,88 12,24 12,41 13,47 10,71 10,46 10,00
Jahresüberschuss1 85,28 97,71 99,66 104,02 95,22 110,59 112,00
Netto-Marge6 8,23 9,09 9,33 9,34 7,42 8,44 8,03
Cashflow1,7 125,86 122,35 98,06 72,85 136,16 168,32 170,00
Ergebnis je Aktie8 2,58 2,96 3,02 3,15 2,89 3,35 3,40
Dividende8 0,60 0,64 0,64 0,67 0,70 0,80 0,80
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Ernst & Young

KWS Saat
WKN Kurs in € Einschätzung Börsenwert in Mio. €
707400 72,300 Kaufen 2.385,90
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
20,37 19,44 1,09 24,30
2,32 14,17 1,82 12,39
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
0,80 0,80 1,11 02.12.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
18.11.2021 24.02.2022 12.05.2022 20.10.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
0,03% -0,66% 11,23% 13,15%
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Agrar , 707400 , KWS , XETR:KWS