EXEL Industries : Full-year 2023–2024 revenue up 0.5%
October 25 2024 - 2:03AM
UK Regulatory
EXEL Industries : Full-year 2023–2024 revenue up 0.5%
Full-year 2023-2024 revenue up 0.5%
Slightly down at the end of the period, rounding off a stable
year |
Q4 revenue
(July 2024–September 2024)
|
2022–2023 |
2023–2024 |
Change
(reported) |
Change (LFL*) |
|
Reported |
Reported |
€m |
% |
€m |
% |
AGRICULTURAL SPRAYING
|
133.2 |
103.2 |
-30.0 |
-22.5% |
-31.3 |
-23.5% |
SUGAR BEET HARVESTING
|
70.7 |
86.6 |
+15.9 |
+22.4% |
+16.8 |
+23.7% |
LEISURE
|
23.7 |
22.3 |
-1.5 |
-6.2% |
-3.1 |
-13.0% |
INDUSTRY
|
73.6 |
77.9 |
+4.2 |
+5.8% |
+5.0 |
+6.8% |
|
EXEL Industries Group |
301.2 |
290.0 |
-11.2 |
-3.7% |
-12.6 |
-4.2% |
Annual revenue
(October 2023–September 2024)
|
2022–2023 |
2023–2024 |
Change (reported) |
Change (LFL*) |
|
Reported |
Reported |
€m |
% |
€m |
% |
|
AGRICULTURAL SPRAYING |
525.2 |
503.3 |
-21.9 |
-4.2% |
-16.5 |
-3.1% |
SUGAR BEET HARVESTING
|
158.6 |
170.0 |
+11.3 |
+7.1% |
+13.1 |
+8.3% |
LEISURE
|
143.6 |
134.8 |
-8.9 |
-6.2% |
-16.9 |
-11.8% |
INDUSTRY
|
266.8 |
291.3 |
+24.4 |
+9.1% |
+28.3 |
+10.6% |
|
EXEL Industries Group |
1,094.3 |
1,099.3 |
+5.0 |
+0.5% |
+8.0 |
+0.7% |
Fourth quarter 2023-2024
revenue
In the fourth quarter of the 2023–2024 fiscal
year, EXEL Industries posted revenue of €290.0
million, down 3.7% on the same period
last year, which represented a high basis for comparison.
At constant foreign exchange rates and scope,
Group sales fell by 4.2%.
-
AGRICULTURAL SPRAYING DOWN
22.5%
The expected drop in deliveries materialized
during the fourth quarter, particularly in North America and
Australia, after Australia posted particularly strong growth the
previous year. Spare parts sales held up well across all brands and
regions.
- SUGAR
BEET HARVESTING UP
22.4%
In the fourth quarter, the Sugar Beet Harvesting
business continued to be buoyed by sales in Europe and North
America, while the expected slowdown in Eastern Europe continued.
Sales volumes of used machinery and spare parts remained
steady.
The trend changed little in the fourth quarter
in a constantly challenging market for the Garden division. Fourth
quarter sales improved in Italy and the UK compared to the same
period last year, although volumes are low. In the Nautical
division, dealers opted for inventory clearance amid a sharply
slowing market. Against this backdrop, sales of new boats in the
Wauquiez, Rhéa and Tofinou ranges were limited.
Sales were up again this quarter, driven mainly
by automotive deliveries in North and Central America. Sales held
up well in Europe, increasing even slightly in the fourth
quarter.
Full-year 2023-2024
revenue
EXEL Industries posted full-year 2023–2024
revenue of €1.1 billion, a slight increase of
0.5% representing a growth of
0.7% at constant foreign exchange rates and scope.
The scope effect for the full year was €7.2
million, as a result of the Devaux group
acquisition in June 2023.
-
AGRICULTURAL SPRAYING DOWN
4.2%
Order intake declined month on month due to a
more challenging overall business climate. The stability of
agricultural prices at current levels is prompting farmers to adopt
a more cautious approach after two years of heavy investment.
Dealers still hold high levels of inventories and are prioritizing
the reduction of these stocks over orders for new machines. This
has resulted in lower orders across all regional markets. However,
sales of self-propelled sprayers and high-clearance tractors held
up better than other product ranges.
- SUGAR
BEET HARVESTING UP 7.1%
In 2023–2024, continued high sugar prices
boosted sales of beet harvesters in Europe and North America, while
sales in Eastern Europe declined as expected. High demand also
boosted the market for used machinery and spare parts this
year.
Given the high level of rainfall in Europe, the
watering market declined. However, the market shares of the Group’s
brands remained stable. In compliance with European sanctions, the
Group ceased sales in Russia. The Nautical business floundered in a
sluggish market, penalized by high dealer inventories.
The Industry business enjoyed an excellent year
2023–2024 despite some disparities between regions and products. In
France, sales remained stable, while revenue rose significantly in
Europe. In Asia, competition from local integrators curbed sales of
high-viscosity products. In North and Central America, sales rose
slightly thanks to stronger partnerships with our customers. The
powdered paint and systems segments posted strong growth, driven by
new projects in North America and Europe.
Daniel Tragus, Chief Executive Officer of the EXEL
Industries Group
|
“EXEL Industries showed good resilience this quarter and
throughout the year, owing to the diverse cyclical patterns of its
businesses. The Industry division once again demonstrated its
ability to sustain the Group’s growth. However, several business
divisions were hampered by inventory clearance among our customers,
in the Agricultural Spraying and Nautical Industry divisions for
example, while the Garden business was affected by weather
conditions not conducive to consumption”. |
Upcoming events
December 19, 2024, before market
opening: 2023–2024 full-year results & presentation
January 28, 2025, before market
opening: Q1 2024–2025 revenue
April 29, 2025, before market
opening: Q2 2024–2025 revenue
- EXEL Industries_Communiqué de presse_T4-2023-2024_EN
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