EQS-News: KWS Annual General Meeting approves higher dividend

KWS Annual General Meeting approves higher dividend

At today's Annual General Meeting, the shareholders of KWS SAAT SE Co. KGaA (ISIN: DE0007074007) approved the management's proposed resolutions on all agenda items with clear majorities. The dividend payout for the 2022/2023 financial year will increase to €0.90 (0.80) per share.

This morning, the Annual General Meeting of KWS SAAT SE Co. KGaA took place as an in-person event in Einbeck. The Management Board explained the economic development of the very successful past financial year 2022/2023 to the shareholders present.

The KWS Group achieved an 18% increase in sales to €1.82 (1.54) billion. Earnings before interest and taxes (EBIT) increased significantly by 44% to €222.8 (155.1) million, while the corresponding EBIT margin also improved significantly to 12.2% (10.1%). Earnings per share rose by 18% to €3.85 (3.27). The Executive Board and Supervisory Board thanked all employees for their successful commitment.

On the basis of the positive business development, the Annual General Meeting resolved to pay a higher dividend of €0.90 (0.80) on the proposal of the Executive Board and Supervisory Board. As a result, €29.7 (26.4) million will be distributed to the shareholders of KWS SAAT SE Co. KGaA. This corresponds to a payout ratio of 23.4% (24.5%), with which KWS remains in line with its dividend policy of a dividend payment of 20 to 25% of the KWS Group's net income, which is geared to the company's profitability.

The Annual General Meeting also approved the Management Board remuneration system, which has been supplemented by non-financial performance criteria (ESG components). In the future, short-term variable compensation will also be influenced by the achievement of targets with regard to the criteria of "innovative strength" (share of sales from new products) and "reduction of CO2 emissions" (Scope 1 2). These criteria are closely linked to the objectives of the KWS Sustainability Initiative 2030.

Outlook for the KWS Group for fiscal 2023/2024 confirmed

For the KWS Group, the Executive Board continues to expect sales growth of 3 to 5% (on a comparable basis, excluding currency and portfolio effects) with an EBIT margin of between 11 and 13%. The research development quota should be in a range of 18 to 19%.

About KWS

KWS is one of the world’s leading plant breeding companies. More than 5,000 employees* in over 70 countries generated net sales of around €1.8 billion in fiscal 2022/2023. A company with a tradition of family ownership, KWS has operated independently for over 165 years. It focuses on plant breeding and the production and sale of seed for corn, sugarbeet, cereals, vegetables, oilseed rape and sunflowers. KWS uses leading-edge plant breeding methods to continuously improve yield for farmers and plants’ resistance to diseases, pests and abiotic stress. To that end, the company invested more than €300 million last fiscal year in research and development.

*Excluding seasonal workers

More information: www.kws.de. Follow us on Twitter® at https://twitter.com/KWS_Group.

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