EXEL Industries: third quarter 2022-2023 sales, up 13.7%
July 25 2023 - 1:45AM
EXEL Industries: third quarter 2022-2023 sales, up 13.7%
Third quarter 2022-2023 sales up 13.7%
Growth across all business lines, bolstered by buoyant
sales in agricultural equipment |
Q3 sales(April 2023–June 2023)
|
2021–2022 |
2022–2023 |
Change (reported) |
Change (LFL*) |
Reported |
Reported |
€m |
% |
€m |
% |
|
|
|
|
|
|
|
AGRICULTURAL
SPRAYING |
133.0 |
155.2 |
+22.2 |
+16.7% |
+24.6 |
+18.5% |
SUGAR BEET
HARVESTERS |
21.9 |
34.1 |
+12.2 |
+55.6% |
+13.0 |
+59.2% |
LEISURE
|
55.6 |
57.8 |
+2.2 |
+3.9% |
+2.3 |
+4.1% |
INDUSTRY
|
62.1 |
62.8 |
+0.7 |
+1.1% |
+2.5 |
+4.0% |
|
|
|
|
|
|
|
EXEL Industries Group |
272.6 |
310.0 |
+37.3 |
+13.7% |
+42.4 |
+15.6% |
Sales 9 months(October 2022–June
2023) |
2021–2022 |
2022–2023 |
Change (reported) |
Change (LFL*) |
Reported |
Reported |
€m |
% |
€m |
% |
|
|
|
|
|
|
|
AGRICULTURAL
SPRAYING |
319.7 |
392.0 |
+72.2 |
+22.6% |
+68.4 |
+21.4% |
SUGAR BEET
HARVESTERS |
61.1 |
87.9 |
+26.8 |
+43.9% |
+29.0 |
+47.4% |
LEISURE
|
110.8 |
119.9 |
+9.1 |
+8.2% |
+4.8 |
+4.3% |
INDUSTRY
|
187.8 |
193.2 |
+5.4 |
+2.9% |
+5.6 |
+3.0% |
|
|
|
|
|
|
|
EXEL Industries Group |
679.5 |
793.0 |
+113.5 |
+16.7% |
+107.8 |
+15.9% |
* Like-for-like (LFL) = at constant foreign
exchange rates and scope
Sales per
activityThird quarter 2022-2023
EXEL Industries posted revenue of €310.0
million for the third quarter of fiscal 2022-2023, up
13.7%. Growth at constant
consolidation scope and foreign exchange rates was
15.6%, the difference being due to an adverse
currency effect and a limited scope effect arising from the
consolidation of the Devaux group: the early June 2023 acquisition
of Devaux led to the consolidation of a €0.6
million contribution to third quarter revenue.
The Group’s growth continued to be driven by the
price increases passed since last year, coupled with sustained
volumes in the agricultural equipment and industry businesses, and
a favorable basis of comparison.
-
AGRICULTURAL SPRAYING UP 16.7%
Revenue increased across all Group regions,
particularly France and North America, which recorded brisk sales
volumes during the quarter without being as impacted by the
shortages as they were the previous fiscal year.
- SUGAR
BEET HARVESTERS UP 55.6%
Sugar prices stabilized at record high levels.
Sales of sugar beet harvesters were bolstered by strong demand in
Eastern Europe.
In a challenging market following extreme
adverse weather conditions in May, billings in the garden business
held up in terms of volume. The process of integrating Devaux has
only just begun. Boat deliveries were lagging behind during this
quarter compared to 2022.
Industrial spraying sales were driven by
automotive project billings. Sales in Asia and the USA remained
stable compared to the previous quarters. In technical hoses, the
sluggish economic environment persisted.
Outlook
-
AGRICULTURAL SPRAYING
- Order books remain well-stocked
despite the relative decline in agricultural product prices over
the last few weeks. However, the withdrawal from the Ukrainian
grain deal will likely impact the grain market over the short
term.
- SUGAR
BEET HARVESTERS
- Fourth quarter sales of new
machines are expected to be in line with 2021–2022 levels, driven
by ongoing increases in sugar and beet prices.
-
LEISURE
- Since the beginning of January, the
watering market has declined slightly in France but remains stable
in the United Kingdom. The trend is not expected to change in the
fourth quarter.
- The process of integrating Devaux
has started. As the season was already well underway, Devaux is
expected to make only a limited contribution to Group full-year
results.
-
INDUSTRY
- Regional trends are expected to
remain the same across the three main markets, marked by
stabilization in Europe and ongoing sustained growth in Asia and
North America.
Upcoming events
- October
26, 2023, before market opening: Q4 2022-2023 revenue
- December
21, 2023, before market opening: 2022-2023 full-year
results & SFAF presentation.
About EXEL Industries
EXEL Industries is a French family-owned group
that designs, manufactures, and markets capital equipment and
provides associated services that enable its customers to improve
efficiency and productivity or enhance their well-being while
achieving their CSR objectives.Driven by an innovation strategy for
70 years, EXEL Industries has based its development on innovative
ideas designed to offer customers unique, efficient, competitive,
and user-friendly products. 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. EXEL
Industries employs approximately 3,770 permanent employees spread
across 27 countries and five continents.The Group posted FY
2021-2022 sales of €977 million. Euronext Paris, SRD Long only –
compartment B (Mid Cap) EnterNext© PEA-PME 150 index (symbol:
EXE/ISIN FR0004527638)
Press release available onsite
www.EXEL-industries.com
Yves BELEGAUDChief Executive Officer |
Thomas GERMAINGroup Chief Financial Officer / Investor
relations |
direction.communication@exel-industries.com |
- EXEL Industries_Press release_2023-Q3_EN
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