PRESS RELEASE April 28, 2020
Q2 2019-2020 gross sales
Blended impression of the well being disaster relying on exercise
| 2018-2019 | 2019-2020 | Change Printed |
Change at fixed scope and international alternate charges www.exel-industries.com | |
| Q2 2019-2020 gross sales in € tens of millions (January to March) |
216.Eight | 194.9 | -10.1% | -12.5% |
| Agricultural Spraying | 120.Eight | 100.1 | -17.1% | -17.four% |
| Sugar Beet Harvesting | 14.6 | 16.9 | +15.1% | +15.three% |
| Backyard Watering and Spraying | 36.zero | 31.four | -12.Eight% | -13.four% |
| Industrial Spraying | 45.four | 46.5 | +2.6% | -7.Eight% |
| 2018-2019 | 2019-2020 | Change Printed |
Change at fixed scope and international alternate charges www.exel-industries.com | |
| H1 gross sales in € tens of millions (October to March) |
348.9 | 314.three | -9.9% | -11.7% |
| Agricultural Spraying | 177.2 | 156.1 | -11.9% | -12.three% |
| Sugar Beet Harvesting | 31.four | 31.Eight | +1.three% | +zero.Eight% |
| Backyard Watering and Spraying | 45.2 | 39.three | -13.zero% | -13.6% |
| Industrial Spraying | 95.2 | 87.1 | -Eight.5% | -13.Eight% |
www.exel-industries.com The quantities at fixed scope and international alternate charges are calculated:
– by changing the quantities for the present quarter on the common quarterly alternate charges of the earlier 12 months;
– by excluding Intec gross sales, an organization acquired in February 2020.
Q2 2019-2020 gross sales (January to March 2020) totaled €194.9 million, down 10.1% on Q2 2018-2019.
This lower is predominantly attributable to the Agricultural Spraying and Backyard Watering and Spraying actions, which have been impacted by the Covid-19 disaster simply as their season obtained underway.
·Agricultural Spraying
After a steady first quarter in contrast with final 12 months, the lower of 17.1% within the second quarter is as a result of shutdown and/or slowdown of manufacturing and deliveries initially of the lockdown.
·Sugar Beet Harvesting
The second quarter noticed marginal development, pushed by gross sales of Terra Variant (agricultural service automobiles) and spare elements. This enabled the Sugar Beet Harvesting enterprise to stabilize its gross sales over the primary half of the 12 months, which has remained low as a consequence of its seasonality.
·Backyard Watering and Spraying
The abrupt closure of our fundamental shoppers’ gross sales retailers has had a serious impression on the backyard watering and spraying enterprise initially of the season. A lower of 30% was recorded through the month of March, which represented 13% of annual gross sales in 2018-2019.
·Industrial Spraying
The consolidation of Intec enabled this enterprise to attain minor development through the quarter. At fixed scope, it fell by 7.Eight% as a result of sharp decline within the automotive sector in Europe and North America. However, there was a slight upturn out there in Asia.
The group has not needed to use the emergency measures of delaying the cost of social fees and taxes as proposed by the French authorities.
·Outlook and Technique
Yves Belegaud, Chief Govt Officer of the EXEL Industries Group, mentioned:
“Our agricultural actions are at peak manufacturing presently of 12 months with full order books. The agricultural sprayer factories typically have a busy schedule till the tip of June. The identical applies to the manufacturing of sugar beet harvesters. Our short-term exercise is subsequently safe. However the drastic fall in business exercise over the previous month has meant we have to suppose creatively if we’re to spice up order numbers. The agricultural commodities market is presently coping properly with the disaster, except sugar which has seen its international worth collapse as soon as once more.
Agriculture, closely castigated over latest years, is making a comeback. Agrifood, agriculture and farming tools are as soon as once more being acknowledged as important and noble companies.
Our backyard watering exercise has been straight impacted by the various levels of closure of retailers, hardware shops and backyard facilities throughout totally different international locations. And that is taking place through the peak time for backyard tools purchases. This sudden standstill has resulted in a big slowdown on the Hozelock factories and, to a lesser extent, the Tricoflex factories.
Our industrial spraying enterprise is struggling as a result of prolonged shutdown of car producers, particularly, resulting in supply delays, a drop so as numbers and the reconsideration of investments amongst our main shoppers.
Within the brief time period, the general public well being disaster will cut back our exercise to various levels based on the totally different sectors. It’s exhausting to place a determine on the potential financial penalties in the intervening time. Nonetheless, the state of affairs has prompted us to take a extra prudent strategy to selections concerning recruitment, investments, and expenditure normally. These important short-term efforts ought to allow us to take care of our power and agility as soon as the restoration begins.
Our groups everywhere in the world have in a short time and intelligently established circumstances which have allowed us to proceed to function with the well being of our staff as our high precedence. The measures, which have been shared with the workers representatives and are compliant with the well being suggestions, have enabled us to attenuate the impression of the lockdown.
We now have the resilience and monetary robustness wanted, because of the dedication of our groups and the sound administration that has enabled the group to turn out to be what it’s in the present day.”
·Upcoming conferences
– June 2, 2020 (earlier than market opening): H1 2019-2020 outcomes.
– July 28, 2020 (after market closing): Q3 2019-2020 gross sales.
About EXEL Industries:
EXEL Industries’ core enterprise is agricultural and industrial spraying. The Group additionally competes within the client watering merchandise market and in sugar beet harvesters. The purpose of EXEL Industries is to develop in its markets via a coverage of fixed innovation and a world development technique.
Euronext Paris, SRD Lengthy solely – compartment B (Mid Cap)
EnterNext© PEA-PME 150 index (Mnemo EXE / ISIN FR0004527638)
The SFAF presentation is offered on the web site www.exel-industries.com
This press launch is offered in French and in English.
YOUR CONTACTS
Yves BELLEGAUD Sophie BOUHERET
Group Chief Govt Officer Group Chief Monetary Officer/Investor Relations
yves.belegaud@exel-industries.com sophie.bouheret@exel-industries.com