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EXEL Industries: Q2 2020-2021 turnover Affirmation of the restoration, with progress of 24.5%

PRESS RELEASE April 27, 2021

Q2 2020-2021 income

Affirmation of restoration, with progress of 24.5%

T2 income in € m

2019-2020

2020-2021

Worth change

Change %

Reported

Reported

Reported

* Alike

Reported

* Alike

Agricultural spraying

100.1

119.7

19.6

21.9

19.6%

21.8%

Sugar beet harvesters

16.9

16.8

(0.1)

0.2

-0.5%

1.1%

Backyard watering and spraying

31.4

46

14.6

15.1

46.5%

48%

Industrial spraying

46.5

60.2

13.6

15.7

29.3%

33.8%

EXEL Industries Group

194.9

242.7

47.8

52.9

24.5%

27.1%

1st half income in € m

2019-2020

2020-2021

Worth change

Change %

Reported

Reported

Reported

* Alike

Reported

* Alike

Agricultural spraying

156.1

178.2

22.1

25.8

14.1%

16.5%

Sugar beet harvesters

31.8

33.2

1.4

2.1

4.4%

6.7%

Backyard watering and spraying

39.3

59.6

20.3

21.1

51.7%

53.7%

Industrial spraying

87.1

114.2

27.2

20.1

31.2%

23.1%

EXEL Industries Group

314.3

385.2

71

69.1

22.6%

22%

* at fixed scope and change charges = at fixed change charges and scope

Q2 2020-2021

With turnover of 242.7 million euros, the second quarter of 2020-2021 (January – February – March) noticed a € 47.8 million (24.5%) acceleration of progress. Like-for-like gross sales got here to 247.8 million euros, representing natural progress of 27.1%. The efficiency continues the restoration already seen within the fourth quarter of final yr, in addition to first quarter. The primary blocking interval throughout Q2 2019-2020 resulted within the sudden closure of shops, primarily penalizing the exercise of spraying and watering the backyard, with much less impression on agricultural actions.

All geographic areas are rising, particularly Europe-Africa, but additionally Asia-Pacific, the place Sames Kremlin has considerably elevated its turnover. Agricultural spraying additionally loved good momentum in North America. Forex fluctuations had a destructive impression of 5.1 million euros on gross sales.

This progress might be attributed to good momentum within the self-propelled sprayers and components segments, pushed particularly by North America and Australia.

The second quarter isn’t notably consultant of this extremely seasonal exercise. That mentioned, this confirms the expansion in our revenues from spare components and used equipment, notably in Jap Europe.

A wonderful quarter and the perfect gross sales of the final 5 years. The expansion levers that we described within the fourth quarter of 2019-2020 and within the first quarter of 2020-2021 are nonetheless at work (progress market, best-in-sector service, lock-out) and have been supplemented by new drivers, particularly retailer stock replenishment and pre-Brexit storage within the UK. This comes in opposition to a backdrop of heavy stress on Chinese language provides as a consequence of container and plastic shortages.

  • INDUSTRIAL SPRAYING, with gross sales of 60.2 million euros, recorded progress of 13.6 million euros (29.3%), figuring out that there isn’t any longer a distinction in scope attributable to iNTEC, consolidated for the reason that finish of the primary quarter of 2019-2020.

Gross sales of iNTEC and spare components had been sturdy. Within the “initiatives” exercise, we benefited from postponements from This autumn 2019-2020 to Q2 2020-2021.

OUTLOOK

The group is cautious about extrapolating this progress to the remainder of the yr. The shift in billing from H1 to H2 2019-2020 (COVID impression) constitutes a extra demanding foundation for comparability.

The nice evolution of the costs of agricultural uncooked supplies in current months, authorities assist measures (United States, Australia, France, Germany) and the suspension of customs duties on French wine in the US (losses of 400 million euros per yr) enhance our order ebook. Frosts ought to have a restricted impact on viticulture, however extra pronounced on the fruit phase. Metal costs are on the rise and we modify our costs on a case-by-case foundation. At this stage, we’ve not recognized any essential difficulties associated to the scarcity of digital elements.

The order ebook is now increased than on the identical level final yr, a direct results of the motion plans applied to develop the Terra Variant vary in manure spreading and anaerobic digestion, and worldwide gross sales of sugar beet harvesters. Beet costs are on the rise, however final season’s yields had been affected by the beet yellows virus, and people of the following crop shall be affected by frost, albeit to a lesser extent.

Our order ebook is at the moment increased than it was final yr. We’ve applied a coverage of anticipating orders and deliveries to our clients in an effort to replenish shares and meet shopper demand. The earnings development could be very sturdy, however this exercise is very depending on the climate, and it is just after Q3 that the outlook for the yr turns into clearer. As well as, we’ve been feeling sturdy stress on plastic uncooked supplies for a number of months, each by way of worth and availability.

The sturdy development within the furnishings sector continues to replicate the evolution of family conduct (DIY, dwelling ornament, and many others.). Nevertheless, the restoration of the automotive sector stays fragile, with a restoration in Asia at this stage and unsure prospects in different areas threatened by tensions on deliveries of digital elements.

EVENTS TO COME

Half-year outcomes as of June 1

July 27, third quarter gross sales

About EXEL Industries:

The core enterprise of EXEL Industries is agricultural and industrial spraying. The Group can be aggressive out there for shopper watering merchandise and sugar beet harvesters. The target of EXEL Industries is to develop in its markets by means of a coverage of fixed innovation and a method of worldwide progress. EXEL Industries employs greater than 3 000 individuals unfold throughout 27 international locations and 5 continents.

Euronext Paris, SRD Lengthy solely – compartment B (Mid Cap)
EnterNext © PEA-PME 150 index (Mnemo EXE / ISIN FR0004527638)

The SFAF presentation is out there on the web site www.exel-industries.com

Yves BELEGAUD
Managing Director of the Yves.belegaud@exel-industries.com group

Patrick TRISTANI
CFPO / Investor Relations. Telephone: 0682258104
Patrick.tristani@exel-industries.com

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