Q4 2024 KWS SAAT SE & Co KgaA Earnings Call Transcript
Key Points
- KWS SAAT SE & Co KGaA (KNKZF) achieved double-digit growth in sales and earnings, driven by a strong performance in the sugarbeet business.
- The company expanded its leading position in the global sugarbeet seed market, capturing a 70% market share.
- Strategic divestments, such as selling the corn business in China and South America, have improved the company's financial position.
- The company recorded a significant increase in operating earnings, with EBITDA up by 40% and EBIT up by 55%.
- KWS SAAT SE & Co KGaA plans to increase its dividend to EUR1 per share, reflecting a 50% increase over the last five years.
- The financial result was negatively impacted by a loss from the AgReliant joint venture and increased interest expenses.
- Sales in the corn segment fell by 5%, with a decline in North American sales through the AgReliant joint venture.
- The vegetable segment reported a significant EBIT loss of EUR35 million, attributed to lower sales and increased amortization expenses.
- The company anticipates a significant decline in sales and earnings for the cereal segment due to import restrictions in Russia.
- The overall net income increase was limited to 3% when accounting for discontinued operations, despite strong operating performance.
Good morning, ladies and gentlemen, here from rainy Frankfurt. I warmly welcome you to our KWS conference call on the publication of our figures for the fiscal year 2023-'24 today. So as you have seen, we can look back on another very successful fiscal year with a very strong operating performance and important strategic decisions for KWS. We once again achieved double-digit growth in sales and earnings in relation to our continuing operations, thanks to an extremely strong year in the sugarbeet business.
Based on this strong performance, we propose to increase the dividend to EUR1 per share as part of our dividend policy. Last year's notable operating successes include the expansion of our leading position in the global market for sugarbeet seed with a market share of around 70%.
Our sustainable product innovations, CONVISO SMART and CR+ made a significant contribution to this. KWS' performance in terms of regulatory approvals of new varieties, which reached a record level in the past fiscal year and significantly
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