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KWS Group achieved an approximately 15% increase in net sales to ˆ1.28 billion in fiscal 2019/2020
26.10.2020 16:50 "Agro Perspectiva" (Kyiv) —
The KWS Group achieved an approximately 15% increase in net sales to ˆ1.28 billion in fiscal 2019/2020. The key figures of EBIT, net income and earnings per share were down from the previous year due to acquisition-related effects. KWS completes a successful fiscal 2019/2020 «Our business model has proven extremely robust in challenging times,» said Eva Kienle, Chief Financial Officer of KWS. «We grew in all product segments thanks to our innovative variety portfolio and posted a significant increase in our operating result after adjustment for acquisition-related effects. We expect stable business performance in the new fiscal year.» Net sales rose by 15.2% to ˆ1,282.6 (1,113.3) million in fiscal 2019/2020. All the product segments contributed to that growth. Net sales rose by 10.4% on a comparable basis (excluding exchange rate and acquisition-related effects). The KWS Group’s EBITDA improved by 12.9% to ˆ225.5 (199.7) million. EBIT declined to ˆ137.4 (150.0) million as a result of non-cash effects totaling ˆ33.0 million as part of the purchase price allocation for the acquisition of Pop Vriend Seeds. Earnings in the previous year also included a positive non-recurring effect due to the establishment of the joint venture Aardevo B.V. Net financial income/expenses was ˆ -7.8 million and so down from the previous year’s figure of ˆ -5.5 million. The interest result fell to ˆ -18.6 (-15.0) million due to higher borrowing, while net income from equity-accounted companies rose to ˆ10.8 (9.4) million. Income taxes totaled ˆ34.3 (40.4) million. The result was net income for the year of ˆ95.2 (104.0) million and earnings per share of ˆ2.89 (3.15).
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