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DSV is seeing continued growth
Jan. 21, 2019
DSV - Deutsche Saatveredelung AG
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Germany
On the occasion of its Annual General Meeting on December 11, 2018, Deutsche Saatveredelung AG (DSV) once again presented a highly positive result. The company successfully expanded its global business despite a challenging market environment.In fiscal 2017/18, DSV achieved revenues of approximately €158 million (+€7 million) and was able to increase its earnings before interest and taxes (EBIT) to about €4.6 million (+€1.6 million). This positive development of the German company is also reflected in the Corporate Group’s overall result: The DSV Group generated revenues of €174 million (+€7 million) with an EBIT of €7.8 million (+€2.3 million).
Environment
During the fiscal year ending June 30, DSV’s agricultural product range faced a challenging market environment. The ongoing tense financial situation of agricultural enterprises in Europe was a key factor in this development. Sales of the COUNTRY forage mixture and TerraLife® cover crop brand portfolios remained at a high level. DSV oilseed rape, which is distributed on the German market by Rapool-Ring GmbH, maintained its excellent market position even though the area under crops saw a slight decline. The market position in Eastern Europe could even be strengthened. The DSV turf grass business has seen continuous growth year after year and DSV’s top performing portfolio of own-bred turf grass varieties has proven to be a major success factor. DSV currently only has a limited cereals portfolio, but is expecting to obtain new registrations in the next few years.
Development
The ongoing internationalization of DSV, along with extended value creation for DSV varieties abroad, was systematically continued as it became clear that especially forage and turf grasses can be well placed on the global market. The extensive variety tests which we performed on a global basis last year, as well as the seed varieties we sold to North and South America or China, confirm this experience.
In fiscal 2017/18, DSV successfully established itself on the South American continent with its own subsidiary company in Argentina DSV Semillas. It is a major goal of DSV to unlock local sales potential for high-quality seeds. The successful launch of spring and winter oilseed rape varieties on the local market was a milestone on this path. Furthermore, seasonally inverse seed multiplication provides promising perspectives. A more global setup of its seed business is the right approach to better protect DSV against local climate and revenue risks.
Personnel announcements
All the changes, initiatives and good results promoted throughout the company would not have been possible without the great commitment shown by the approximately 600 employees of the DSV Group, including 450 in Germany. Elected as a new member of the Executive Board, Dr. Eike Hupe is determined to ensure that DSV will continue its global setup. He joined DSV at the end of the last fiscal year. DSV will thus complete a long planned generation change at the top of the company when Johannes Peter Angenendt resigns from the Executive Board at the end of fiscal 2018/19. From this time onwards DSV will be represented by the two Executive Board Members Dr. Eike Hupe and Clive Krueckemeyer.
Outlook for the future
In fiscal 2018/19, DSV will also have to cope with the consequences of the extreme drought which lasted in Europe from April to September. Consequently, the business forecast for the ongoing fiscal year is rather moderate. However, DSV is determined to continue on its path to success and increase the long-term potential of the company through investments in its breeding and production sectors.
The following Supervisory Board Members were elected/reelected during the meeting:
- Juergen Henkelmann, Farmer, Anroechte
- Friedhelm Hueneke, Farmer, Petershagen
- Hans-Wernher von Loewenstein, Farmer, Jesberg
- Andreas Rickmers, Chairman of the Executive Board of AGRAVIS Raiffeisen AG, Muenster
About Deutsche Saatveredelung AG
Deutsche Saatveredelung AG, with its headquarters in Lippstadt, Germany, is a plant breeding company which looks back on a rich tradition. Research, breeding, production and the distribution of various crops are the business objectives of the company, whose roots go back 95 years. The following companies are members of the DSV Group and are fully considered in the Group's annual consolidated financial statements:
- Deutsche Saatveredelung AG, Lippstadt (parent company)
- DSV France S.a.r.l., Poinville/France
- DSV Frø Danmark A/S, Holstebro/Denmark
- DSV Polska Sp.z o.o., Wagrowiec/Poland
- DSV United Kingdom Ltd., Downham Market/United Kingdom
- DSV zaden Nederland B.V., Ven Zelderheide/The Netherlands
In addition, the financial results of DL Seeds Inc., Morden/Canada are considered in the DSV Group's annual consolidated financial statements on a pro-rata basis.
Source: Deutsche Saatveredelung
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