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Financial year 2022 | 2023

Strong growth of net sales
and earnings

Photo: Financial year 2022 | 2023


Business performance in 2022 | 2023

The KWS Group’s net sales in fiscal 2022/2023 rose sharply by 18% to €1,819.8 (1,539.9) million. Exchange rate effects only had a slight impact of –1.1% on that figure all in all. All the product segments contributed to the buoyant growth in net sales. Operating income (EBIT) increased significantly by 44% to €222.8 (155.1) million, while the EBIT margin likewise improved sharply to 12.2% (10.1%) and was thus above KWS’ guidance (11% to 12%). Earnings per share increased by 18% to €3.85 (3.27). The free cash flow improved to €44.5 (9.5) million.

Net sales
in € billions
Photo: Net sales
Net sales by segments
in %
Photo:Net sales by segments
in € millions
Photo: EBIT
Dividend per share
in €
Photo: Dividend per share


Net sales in the Corn Segment rose sharply by 11.9% to €1,046.8 (935.4) million, in particular as a result of higher sales prices in the core markets of Brazil and Europe. However, the segment’s income fell to €45.8 (57.2) million. That was attributable to negative contributions to earnings from the joint ventures in North America and China, while earnings increased in Europe and Brazil. The segment’s EBIT margin fell accordingly from 6.1% to 4.4%

Net sales in the Sugarbeet Segment rose sharply by 21.7% to €716.3 (588.4) million. The strong expansion of business is attributable to the market success of innovative KWS varieties (CONVISO® SMART and CR+). The segment’s income was €253.4 (195.0) million thanks to the positive net sales trend and was likewise significantly above the previous year’s figure. The Sugarbeet Segment’s EBIT margin improved to 35.4% (33.1%).

Net sales in the Cereals Segment increased by 19.1% to €257.8 (216.4) million, mainly due to buoyant growth in oilseed rape, wheat and rye seed. The segment’s income rose sharply to €40.1 (29.5) million on the back of the large growth in net sales and a more advantageous product mix, while the EBIT margin improved to 15.6% (13.6%).

Net sales in the Vegetables Segment increased by 21.5% to €66.0 (54.3) million. The growth is mainly attributable to stronger spinach and bean seed business. The segment’s income improved to € –11.8 (–18.5) million as a result of the positive course of business and lower effects from the purchase price allocation as part of company acquisitions. The segment’s income takes into account significant planned R&D expenditure earmarked for the establishment of breeding programs for new types of vegetables.

Net sales in the Corporate Segment totaled €8.3 (8.3) million. They are mainly generated from KWS’ farms. Since all cross-segment costs for the KWS Group’s central functions and research expenditure that cannot be allocated to the segments are charged to the Corporate Segment, its income is usually negative. The segment’s income declined sharply to € –115.3 (–97.7) million due to higher expenditure on research and administration.


Forecast for fiscal year 2023 | 2024

The KWS Group expects to grow its net sales by 3% to 5% (on a comparable basis, excluding exchange rate and portfolio effects) and to post an EBIT margin between 11% and 13%. The R&D intensity is expected to be in the range of 18% to 19%.