Germany's KWS Saat cuts full year guidance as low prices bite
12/02/2026 07:45
Feb 11 (Reuters) - Seed specialist KWS Saat KWSG.DE cut its full year net sales outlook on Thursday, as low prices for agricultural raw materials and a sales decline in Russia dented the company's revenue. The company said it now expects net sales for the 2025/26 financial year to be the same as the year before, compared with its previous expectation for growth of around 3%. BY THE NUMBERS The company achieved revenue for the first half of the year of 411.3 million euros ($488 million), 1.4% below last year's level, citing currency and portfolio effects for the fall. Cereals and vegetables, however, were the only two segments that managed to record higher sales compared to last year. WHY IT MATTERS KWS Saat remains one of the Western companies that have not withdrawn from Russia following its invasion of Ukraine, although it is not expanding or launching new business activities in the country. CFO QUOTE "We do not really invest anymore in our infrastructure, in our business in Russia. So we keep our operations on the perimeter that we had. We are generating less revenue than before the war started," Chief Financial Officer Joern Andreas said in an interview following the results. M&A PLANS KWS Saat is building a platform in vegetables and that is the area where the company is most interested in further expanding, CFO Joern Andreas said. ($1 = 0.8429 euros) (Reporting by Tristan Veyet in Gdansk; Editing by Matt Scuffham) ((Tristan.veyet@thomsonreuters.com;))