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KWS SAAT & (KWS) investor relations material
KWS SAAT & Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved robust operating performance in FY 2024/25 despite challenging market conditions, with strategic realignment completed and a new financial framework set for future growth.
Net sales remained stable at €1,677m in FY 2024/25, while H1 2025/26 saw net sales of €411.3m, down 1.4% year-over-year, with a slight increase on a comparable basis.
Free cashflow more than doubled to €123m in FY 2024/25, and net debt reduced significantly to €62m (0.2x EBITDA); H1 2025/26 net debt was €264.6m.
Operating earnings in H1 2025/26 improved, driven by a €30m positive special effect from the sale of North American corn business license rights.
Updated dividend policy with a proposed 25% increase to €1.25 per share, targeting a 25-30% payout ratio.
Financial highlights
Net sales: €1,677m in FY 2024/25 (flat year-over-year, +1.0% organic, -1.1% FX); H1 2025/26: €411.3m (down 1.4%).
EBITDA: €350.5m in FY 2024/25 (-13% year-over-year); H1 2025/26: €-49.0m (improved from €-65.9m).
Net income: €140.0m in FY 2024/25 (-24% year-over-year); H1 2025/26: €-63.8m (improved from €-114.7m).
Free cashflow: €123.2m in FY 2024/25 (up from €56.8m); H1 2025/26: €-145.2m (improved from €-176.2m).
Net debt: €61.6m in FY 2024/25 (down from €385.1m); H1 2025/26: €264.6m (down from €343.5m).
EPS: €4.24 in FY 2024/25 (down from €5.58); H1 2025/26: €-1.93 (improved from €-3.48).
Outlook and guidance
FY 2025/26 net sales expected at previous year's level, not the previously anticipated 3% growth.
EBITDA margin forecast confirmed at 19–21% for the full year, with a one-time positive EBITDA effect of ~€30m from license sale.
Segment forecasts: Sugarbeet and Corn net sales expected at or below prior year, Vegetables slightly below, Cereals at prior year.
Mid-term targets: 3-5% organic sales growth and 19-21% EBITDA margin.
Cost-cutting measures initiated and already impacting results.
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