KWS SAAT SE posted fiscal‑year 2025/2026 sales of €1.63 billion, a 1% organic decline year‑on‑year, and net income of €158 million, up 13% from the prior period. EBITDA reached €343 million, placing the adjusted EBITDA margin within the company’s guided range of 19%‑21%. Free cash flow was about €123 million and net debt stood at less than €9 million at year‑end.
The company highlighted €25 million of efficiency savings and a €29 million gain from the disposal of North‑American corn licence rights. A €5 million provision was booked for a French antitrust case. Management proposed a dividend of €1.30 per share, reflecting a payout ratio near 29% and a compound annual growth rate of roughly 11% since FY 2019/20, when the dividend was €0.70.
Shares opened lower and fell 7.51% to $72.7, down $5.9 from the prior close of $78.6, trading about 10.3% below the 52‑week high of $80.6 and 18.5% above the 52‑week low of $61.3.
Segment performance varied. Sugar beet sales fell 0.6% organically despite a 10% drop in global acreage; advanced products CONVISO SMART and CR+ accounted for 63% of the segment, which posted an EBITDA margin close to 42%. Corn sales grew 2% on a comparable‑basis excluding Russia, while sunflower sales jumped 35% as the business pursues a €100 million revenue target by decade‑end. Rapeseed sales rose 24%, positioning KWS as a leading European player, whereas rye, wheat and barley faced softer markets. Vegetable sales slipped 6.8% due to timing effects in spinach and weaker North‑American food‑service demand; the company scheduled a vegetable investor and analyst seminar in Andijk, Netherlands.
Russia now represents less than 10% of the portfolio. Looking ahead to FY 2026/27, KWS expects organic sales growth of around 3% and an EBITDA margin of 19%‑20%, aligning with its long‑term target band of 19%‑21%.
CEO Dr. Jörn Andreas said the year was “challenging” for agriculture but emphasized the company’s resilience and balance‑sheet strength, noting that few peers enjoy comparable financial flexibility. He also reiterated the dividend’s growth trajectory since 2019/20.
