PRESS RELEASE
Loudéac,
2023 revenue of €137.4m, up 5%
Continued market share gains against a backdrop of falling prices
Q4 | 12 months | |||||||
in €m, unaudited | 2022 | 2023 | Chg. | 2022 | 2023 | Chg. | Chg. organic | |
Farming Supplies | 31.7 | 28.1 | -11.3% | 116.8 | 125.1 | +7.1% | -2.4% | |
Farming Production | 3.2 | 2.4 | -25.0% | 12.2 | 10.0 | -18.2% | -18.2% | |
Other | 0.5 | 0.5 | +2.9% | 1.8 | 2.3 | +25.4% | +25.4% | |
TOTAL | 35.4 | 31.0 | -12.4% | 130.8 | 137.4 | +5.0% | -3.5% |
Farming Supplies: growth of 7.1% in 2023
The Farming Supplies business (91% of revenue at
Sales in 2023 were driven by:
- the acquisition of Kabelis in the Landscaping and Green Spaces business (consolidated since
August 2022 ), which recorded revenue of nearly €17.0m at the end ofDecember 2023 ; - a return to sustained momentum in the equestrian market at the end of the year, with growth of 4% over the full year;
- the confirmed robust performance of BTN de Haas, acquired in
the Netherlands inJuly 2021 .
Given the negative price effect combined with an unfavourable calendar (4 fewer days invoiced than in 2022),
Farming Production: Group export revenue adversely affected by the geopolitical environment
The Farming Production business (7% of revenue at
Despite a few signs of a recovery in the second half of the year, business activity in the
“Other activities”, which include consulting and training services, marketed under the Agritech brand, and the operating activities of the Bel-Orient pilot farm increased revenue by over 25%.
Cash position at
Given Kabelis’ prospects in the Green Spaces segment, the Group decided to immediately buy back 30% of the remaining capital in mid-December. At the end of FY 2023, WINFARM’s cash position amounted to €7m, reflecting the renewed confidence of its banking partners with the granting of long-term financing in addition to the financing obtained in the third quarter.
EBITDA margin improvement targets maintained in H2 2023
The financial discipline measures implemented by the Group in the first half of 2023, combined with the gross margin management measures initiated at the end of the financial year, should now enable the Group to gradually improve its EBITDA margin after a low point reached at the end of
Au Pré!: signature of the first contracts
After the launch in September of “Au Pré!”, an innovative concept to enhance dairy production for a network of independent farmers based on an initial proprietary industrial processing facility located at the Group’s Bel Orient pilot farm,
2024: focus on returning to organic growth and improving EBITDA margin
Through the initiatives taken in 2023 to lower the profitability threshold in connection with the adaptation of the expense structure,
Next release:
2023 annual results, on
About
Founded in Loudéac, in the heart of Brittany, at the beginning of the 1990s, the
With a vast catalogue of more than 35,000 product references (seeds, phytosanitary, harvesting products, etc.), two-thirds of which are marketed under own brands,
For more information about the company: www.winfarm-group.com
Contacts :
investisseurs@winfarm-group.com | |
SEITOSEI.ACTIFIN | |
Financial communication Benjamin LEHARI +33 (0) 1 56 88 11 25 benjamin.lehari@seitosei-actifin.com | Financial press relations Jennifer JULLIA +33 (0)1 56 88 11 19 jennifer.jullia@seitosei-actifin.com |
Attachment
- WINFARM_CP_CA_T4_2023_FR_01_02_2024_vdef_EN
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