Exel Industries :First quarter 2021-22: sales up +11.8%
January 25 2022 - 12:00PM
Exel Industries :First quarter 2021-22: sales up +11.8%
PRESS
RELEASE
January 25,
2022
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% |
|
|
|
|
|
|
|
EXEL
Industries Group |
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 Australia and Central Europe. The quarter was affected
by supply chain disruptions for mechanical and electronic
components, causing production delays and ensuing delivery
deferrals.
- 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 Germany and Central Europe. Sales of used
machines and spare parts also contributed to revenue growth.
-
LEISURE, sales of €17.0 million, up €3.4
million (+25.2%).
The acquisition of the nautical division on
September 30, 2021 (Wauquiez, Rhéa Marine, Tofinou) resulted in a
scope effect increasing sales for this activity by €2.1 million. On
a like-for-like basis, the gardening business was up 6.6% for the
quarter, with growth focused chiefly on the United Kingdom,
following the application of new pricing policies aimed at
offsetting the surge of costs (logistics, raw materials). The
underlying markets remain favorable, in an environment marked by
tension on supplies dating back roughly a year.
-
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
Europe (automotive), whereas North America and China contributed
largely to growth in sales volumes during the quarter. Price
increases to offset higher raw material costs drove revenue growth
in technical hoses, compounded to a lesser extent by higher
volumes.
Outlook
- 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.
- 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.
- Raw material
prices have not yet stabilized.
- The ongoing
changeover of the ERP (to SAP) could disrupt second quarter
shipments.
- The underlying markets (automotive,
furniture, construction, etc.) are experiencing contrasting trends,
as are the regions enjoying growth (Asia and North America vs.
Europe).
- Component shortages are likely to
continue disrupting our delivery times.
Yves Belegaud, Chief Executive Officer of the
EXEL Industries Group, said:
“On the strength of a robust order book in all
our business lines, backed by strong sales momentum and healthy
trends in underlying markets, EXEL Industries is confident that
demand for its products will remain strong. Given today’s
inflationary environment and rising production costs, the Group has
maintained pricing discipline across its various businesses.”
Upcoming events
February 8, 2022: shareholders’ Annual General
Meeting
April 26 after market closing: Q2 2021-22
sales
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
over 60 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 3,546
permanent employees spread across 27 countries and five continents.
The Group posted FY 2020-2021 sales of €877 million.
Euronext Paris, SRD Long only – compartment B
(Mid Cap) EnterNext© PEA-PME 150 index (symbol: EXE/ISIN
FR0004527638)Press release available on
www.exel-industries.com.
Yves BELEGAUDDirecteur Général
groupeYves.belegaud@exel-industries.com |
Thomas GERMAINC.F.O / Communication Financière
direction.communication@exel-industries.com |
2.13.0.0
- PRESS RELEASE Q1 2022 Final_EN
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