PRESS RELEASE
First quarter 2021-22: sales up +11.8% Solid organic growth in all businesses |
Q1 revenue €m | 2020 - 2021 | 2021 - 2022 | Change in value | Change in % | |||
Reported | Reported | Reported | *like-for-like | Reported | *like-for-like | ||
AGRICULTURAL SPRAYING | 58.5 | 64.7 | +6.3 | +4.9 | +10.7% | +8.4% | |
SUGAR BEET HARVESTERS | 16.4 | 17.7 | +1.2 | +1.0 | +7.4% | +6.1% | |
LEISURE | 13.6 | 17.0 | +3.4 | +0.9 | +25.2% | +6.6% | |
INDUSTRY | 54.1 | 60.0 | +5.9 | +4.5 | +10.9% | +8.4% | |
142.6 | 159.4 | +16.8 | +11.3 | +11.8% | +8.0% |
* like-for-like = at constant foreign exchange rates and scope
First quarter 2021-2022 sales
Sales for the first quarter of the 2021-2022 fiscal year amounted to €159.4 million, up 11.8% compared with the same period of the previous fiscal year. At constant consolidation scope (consolidation of the nautical activity, +€2.1 million) and foreign exchange rates (+€3.4 million, attributable mainly to favorable trends on the US dollar), growth was +8%. Supply issues affected production more during this quarter than the previous quarter, delaying some shipments, particularly in agricultural spraying.
- AGRICULTURAL SPRAYING, sales of €64.7 million, up €6.3 million (+10.7%).
Agricultural commodity prices (wheat, corn, soybeans, sugar, ...) remained well oriented over the quarter. In the environment, the agricultural spraying business grew by 8.4% at constant foreign exchange rates and consolidation scope. Sales increased in
- SUGAR BEET HARVESTERS, sales of €17.7 million, up €1.2 million (+7.4%).
After substantial growth in the 2020-2021 fiscal year, machine sales were slightly higher than in the previous year, bearing in mind that the first quarter is insignificant for this activity subject to pronounced seasonal trends. Sales of the Terra Variant range (transport and spreading) continue to benefit from government subsidies in
- LEISURE, sales of €17.0 million, up €3.4 million (+25.2%).
The acquisition of the nautical division on
- INDUSTRY, sales of €60.0 million, up €5.9 million (+10.9%).
Geographical trends were mixed in industrial spraying: the economic environment was unfavorable and uncertain in
Outlook
- AGRICULTURAL SPRAYING
- Agricultural commodity prices are expected to remain at high levels, encouraging investment by farmers.
- Difficulties in respect of component supplies will continue to disrupt production lines. Meanwhile, increases in component purchase prices are impacting margins.
- Confirmation of a growing order book ahead of the 2020-21 fiscal year.
- SUGAR BEET HARVESTERS
- Stabilization of new machine sales in connection with supply difficulties in a persistently fragile broader environment in the sugar beet industry.
- Diversification in the Terra Variant range is driving growth in new regions.
- Favorable environment for the development of spare parts and used machine sales.
- LEISURE
- Raw material prices have not yet stabilized.
- The ongoing changeover of the ERP (to SAP) could disrupt second quarter shipments.
- INDUSTRY
- The underlying markets (automotive, furniture, construction, etc.) are experiencing contrasting trends, as are the regions enjoying growth (
Asia andNorth America vs.Europe ). - Component shortages are likely to continue disrupting our delivery times.
“On the strength of a robust order book in all our business lines, backed by strong sales momentum and healthy trends in underlying markets,
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About
Driven by an innovation strategy for over 60 years,
Since its inception, the Group has recorded significant growth in each of its markets through both organic growth and corporate acquisitions, underpinned by a stable shareholder base guided by a long-term development strategy.
Euronext Paris, SRD Long only – compartment B (Mid Cap) EnterNext© PEA-PME 150 index (symbol: EXE/ISIN FR0004527638)
Press release available onwww.exel-industries.com.
Yves BELEGAUD Directeur Général groupe Yves.belegaud@exel-industries.com | Thomas GERMAIN C.F.O / Communication Financière direction.communication@exel-industries.com |
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Attachment
- PRESS RELEASE Q1 2022 Final_EN
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