DGAP-News: KWS SAAT AG: Report on the 1st half of 2012/2013 KWS continues its successful expansion
(firmenpresse) - DGAP-News: KWS SAAT AG / Key word(s): Half Year Results
KWS SAAT AG: Report on the 1st half of 2012/2013 KWS continues its
successful expansion
26.02.2013 / 07:30
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Einbeck, February 26, 2013
No. 10 | gf
Report on the 1st half of 2012/2013
KWS continues its successful expansion
Guidance for the end of the fiscal year confirmed / net sales in first half
increased by 7.7% to EUR206.3 million.
KWS SAAT AG (ISIN: DE0007074007) has confirmed the higher guidance it
published on February 11, 2013, for the end of fiscal 2012/2013. Apart from
positive performance in its cereals business, which is now essentially
complete for the year, there are signs of higher demand for corn seed in
particular.
Cereals and corn record sharp growth
The first half of fiscal 2012/2013 was impacted by high demand for cereal
seed and launch of our business operations in Brazil. KWS' net sales
increased year on year from EUR191.5 million to EUR206.3 million. Its
operating income in the first half of the year is always negative for
seasonal reasons and was EUR -59.1 million compared with EUR -31.2 million
in the same period of the previous year. The sharp decline in EBIT is
attributable not only to the special effects of the previous year but also
to the planned expansion of research and development activities and
distribution.
KWS grew its net sales in the Corn Segment by 15.9% to EUR82.9 million in
the first half of the fiscal year, with this growth coming from the
Brazilian market. As usual for the season, the segment's income was
negative and totaled EUR -44.3 million compared with EUR -33.1 million in
the same period of the previous year. The planned expansion of distribution
structures was mainly responsible for this sharp decline.
KWS also posted a sharp increase in net sales of 21.0% to EUR94.5 million
in its Cereals Segment. In particular, hybrid rye varieties were sold out.
Accordingly, the segment's income improved significantly from EUR28.0
million to EUR37.2 million. Since the vast majority of cereals business is
transacted in this period, the semi-annual figures are a good indicator of
the results for the year as a whole.
By contrast, the performance of the Sugarbeet Segment in the first six
months is not indicative of its performance for the year as whole, since
sugarbeet is not sown until the spring. Net sales in the first half are due
to early orders by our customers, which can vary greatly from year to year.
Net sales at this segment were EUR25.5 million in the first six months and
its income EUR -29.1 million compared with EUR -6.7 million in the same
period of the previous year. However, the latter figure was impacted
positively by special effects of around EUR10 million.
Forecast: Another year of strong earnings
After raising its guidance for fiscal 2012/2013 as a whole, the KWS Group
anticipates an increase in consolidated net sales of just over 15% to
EUR1.140 billion. On the strength of the increase in demand for corn and
cereals that is already visible at this stage of the fiscal year, it will
be possible to generate that growth in these segments of the company in
particular. KWS now expects its operating income (EBIT) to reach the
previous year's level of EUR140 million. Accordingly, an EBIT margin of
just over 12% is anticipated.
'Our cereals business is going especially well, and we'll surpass the
EUR100 million mark for net sales for the first time. We'll also reach that
mark in our North American sugarbeet business - a success story written by
our genetically improved varieties,' said Dr. Hagen Duenbostel.
Contact:
Georg Folttmann
Head of Investor Relations
Phone +49-5561-311-640
Fax +49-5561-311-510
Mobile +49 (0)173 / 29 10 520
georg.folttmann(at)kws.com
KWS SAAT AG
Grimsehlstraße 31
37555 Einbeck
Germany
End of Corporate News
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Language: English
Company: KWS SAAT AG
Grimsehlstraße 31
37555 Einbeck
Germany
Phone: +49 (0)5561 311-0
Fax: +49 (0)5561 311-322
E-mail: info(at)kws.com
Internet: www.kws.de
ISIN: DE0007074007
WKN: 707400
Indices: S-DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hannover;
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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202268 26.02.2013
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Datum: 26.02.2013 - 07:30 Uhr
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