KWS SAAT AG reconfirms full year’s forecast after Q3 figures
Einbeck, Germany, 31 May 2006 – KWS SAAT AG (ISIN: DE0007074007) has reconfirmed after the end of the third quarter its forecast for the full 2005/06 financial year ending on 30 June. Sales are to set to exceed EUR 500 million for the first time, with an operating result about 20% below the previous year’s EUR 56.3 million, as announced.
“Due to the sugar market reform, KWS will probably sell 17% less sugar beet seed in the EU. Outside the EU we will be able to increase sugar beet seed sales by about 12%,” said Dr. Hagen Duenbostel, KWS SAAT AG’s Chief Financial Officer. In the first three quarters, KWS has also expanded the maize segment into its biggest line of business. This year’s segment growth will again be in double figures. The Einbeck-based company reported significant growth in North America and Western Europe in particular. Sales in the grain segment are down slightly on the year at KWS.
“In all we have been able to alleviate the effect of changes in the sugar market order by means of growth in other markets and lines of business, but we also aim to increase profitability again in the medium term,” CFO Duenbostel said.
Contact:
Georg Folttmann
Tel.: +49 5561 311 640
Mobile: +49 173 291 0520
g.folttmann@kws.de
