EINBECK (dpa-AFX) - Rising costs for research and development and distribution have led to a higher loss at KWS Saat in the first quarter of the fiscal year. Earnings before interest and taxes (EBIT) amounted to minus 48.3 million euros in the three months to the end of September, compared with minus 33.1 million in the previous year, as the seed producer announced in Einbeck on Thursday. At the bottom line, the loss increased from 46.2 million to 55.3 million euros due to higher taxes. The first quarter is negative for KWS Saat for seasonal reasons.

"For us, the European business with winter crops in particular is decisive in the first quarter, where we were able to make good gains with our strong portfolio, especially in rapeseed," explained Chief Financial Officer Eva Kienle. Turnover rose by a total of 0.5 percent to EUR 267.7 million in the reporting period. The Group confirmed its forecast for the year./nas/stk