EINBECK (dpa-AFX) - Following a jump in net sales of almost a third in the first six months, KWS Saat is even more confident about fiscal 2022/2023. Above all, the cereals and sugarbeet segment and business in Brazil are accelerating growth, said Chief Financial Officer Eva Kienle when presenting the figures in Einbeck on Thursday. As a result, the seed producer's sales are expected to grow by 13 to 15 percent in the current fiscal year (ending June 30), rather than just 10 to 12 percent as previously forecast. Kienle is optimistic about the spring sowing season in the most important markets of Europe and North America.

In the first half of the year, sales rose by around 31 percent to 563.7 million euros. The operating loss before interest and taxes (Ebit) was 71.9 million euros. According to the confirmed margin forecast, 10 to 11 percent of sales should be earned operationally in the year as a whole.

Because KWS' business does not pick up until the spring with the harvest season, its operating earnings figures are usually negative in the first months of a fiscal year, but they usually improve in the second half. On balance, KWS Saat posted a loss of 79.5 million euros after six months. A year earlier, the loss had still been 85.3 million euros./lew