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DGAP-News: KWS SAAT SE & Co. KGaA
/ Key word(s): AGM/EGM
Einbeck, 16 December 2020 KWS' Annual Shareholders' Meeting adopts a higher dividend Dividend rises to €0.70 per share - Guidance for the 2020/2021 fiscal year confirmed The shareholders of KWS SAAT SE & Co. KGaA (ISIN: DE0007074007) voted by clear majorities in favor of the proposals made by the Executive and Supervisory Boards on all items on the agenda at today's virtual Annual Shareholders' Meeting. A dividend of €0.70 (previous year: €0.67) per share will be paid out for fiscal 2019/2020. Dr. Andreas J. Büchting, the Chairman of the Supervisory Board of KWS SAAT SE & Co. KGaA, welcomed shareholders to this afternoon's Annual Shareholders' Meeting, which was held as a virtual event due to the coronavirus. The Executive Board described the company's economic performance in the past fiscal year 2019/2020. The KWS Group achieved a 15% increase in net sales to €1.3 billion. Operating income (EBITDA) rose by around 13% to €225.5 million, while earnings per share were €2.89. The Executive and Supervisory Boards thanked all employees for their dedication and successful efforts in the face of the challenging conditions posed by the COVID-19 pandemic: "Thanks to their great commitment, we managed to keep business up and running without restrictions and supply farmers in time for their sowing season," emphasized Andreas J. Büchting. In view of the positive operating performance, the Annual Shareholders' Meeting endorsed the proposal by the Executive and Supervisory Boards and adopted a resolution to pay out a higher dividend of €0.70 (0.67). €23.1 (22.1) million will thus be distributed to the shareholders of KWS SAAT SE & Co. KGaA. That corresponds to a dividend payout ratio of 24.3% (21.3%), once again in line with the KWS Group's earnings-oriented policy of paying a dividend of 20% to 25% of its net income. Outlook for fiscal 2020/2021 confirmed - Prospects are highly promising The Executive Board also dealt with the company's current business performance (in the first quarter of 2020/2021) in its comments and confirmed the guidance for the year as a whole. The Executive Board still anticipates that the KWS Group will generate net sales at the level of the previous year (€1.3 billion). Assuming that net sales are stable, the EBIT margin is expected to be in the range between 11% and 13% (after adjustment for the noncash effects as part of the purchase price allocation for the acquisition of Pop Vriend Seeds). The company's medium- and long-term prospects are also highly promising. "Plant breeding will provide key answers to the increasingly pressing questions of how to enable efficient, yet sustainable agriculture. We are economically well-positioned and have a clear focus on innovation and the use of state-of-the-art technologies. We therefore look optimistically to the tasks lying ahead," said Chief Executive Officer Dr. Hagen Duenbostel. Appointment of Dr. Peter Hofmann extended until 2024 Andreas J. Büchting also informed the Annual Shareholders' Meeting that the appointment of Dr. Peter Hofmann as a member of the Executive Board of the personally liable partner KWS SE had been extended to June 30, 2024. Hofmann is in charge of Sugarbeet, Corn Europe, and Marketing & Communications. About KWS* KWS is one of the world's leading plant breeding companies. More than 5,700 employees in 70 countries generated net sales of around €1.3 billion in fiscal 2019/2020. A company with a tradition of family ownership, KWS has operated independently for more than 160 years. It focuses on plant breeding and the production and sale of seed for corn, sugarbeet, cereals, vegetables, rapeseed and sunflowers. KWS uses leading-edge plant breeding methods to continuously improve yield for farmers and plants' resistance to diseases, pests and abiotic stress. To that end, the company invested more than €200 million last fiscal year in research and development. * All figures excluding the shares of the equity-accounted companies AGRELIANT GENETICS LLC., AGRELIANT GENETICS INC. and KENFENG - KWS SEEDS CO., LTD. More information: . Follow us on Twitter(R) at . Contacts:
16.12.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | KWS SAAT SE & Co. KGaA |
| Grimsehlstraße 31 | |
| 37555 Einbeck | |
| Germany | |
| Phone: | +49 (0)5561 311-0 |
| Fax: | +49 (0)5561 311-322 |
| E-mail: | |
| Internet: | |
| ISIN: | DE0007074007 |
| WKN: | 707400 |
| Indices: | S-DAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1155726 |
| End of News | DGAP News Service |
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1155726 16.12.2020
