KWS Saat rises as annual results beat expectations

KWS SAAT SE & Co KgaA

27/09/2023 07:30

** Shares in KWS Saat  KWSG.DE  rise 4.2% in early Frankfurt
trade after the seeds producer's full-year results beat market
estimates
    ** It posts FY 2022/23 revenue of 1.82 billion euros ($1.92
billion) and an EBIT of 223 million euros, both above LSEG
estimates
    ** For the current year, the German company expects to
achieve an EBIT margin of 11-13% and to grow its net sales by
3-5%
    ** A local broker highlights the FY beat, and says 2023/24
outlook is "at least as expected"
    ** KWS Saat tops Germany's small-cap index  .SDAXI  in early
Frankfurt trade

($1 = 0.9469 euros)

 (Reporting by Tristan Veyet)
 ((Tristan.chabba@thomsonreuters.com))