GlobeNewswire

EXEL Industries: Q2 2020-2021 revenue Confirmation of the recovery, with growth of 24.5%

Share

PRESS RELEASE                                                                                April 27, 2021


Q2 2020-2021 revenue



Confirmation of the recovery, with growth of 24.5%

Q2 revenue in €m

2019 - 20202020 - 2021Change in valueChange in %
ReportedReportedReported*like‐for‐likeReported*like‐for‐like
Agricultural Spraying100.1119.719.621.919.6%21.8%
Sugar Beet Harvesters16.916.8(0.1)0.2-0.5%1.1%
Garden Watering and Spraying31.44614.615.146.5%48%
Industrial Spraying46.560.213.615.729.3%33.8%
EXEL Industries Group194.9242.747.852.924.5%27.1%


H1 revenue in €m

2019 - 20202020 - 2021Change in valueChange in %
ReportedReportedReported*like‐for‐likeReported*like‐for‐like
Agricultural Spraying156.1178.222.125.814.1%16.5%
Sugar Beet Harvesters31.833.21.42.14.4%6.7%
Garden Watering and Spraying39.359.620.321.151.7%53.7%
Industrial Spraying87.1114.227.220.131.2%23.1%
EXEL Industries Group314.3385.27169.122.6%22%

* like‐for‐like = at constant foreign exchange rates and scope

Q2 2020-2021

With revenue of €242.7 million, the second quarter of 2020-2021 (January - February - March) saw a €47.8 million (24.5%) acceleration of growth. Like-for-like revenue was €247.8 million, putting organic growth at 27.1%. The performance continues the pick-up already seen in Q4 last year, as well as a good first quarter. The first lockdown period during Q2 2019-2020 resulted in the abrupt closure of points of sale, mainly penalizing the garden spraying and watering activity, with less of an impact on agricultural activities.

All geographical areas are growing, in particular Europe-Africa, but also Asia-Pacific, where Sames Kremlin expanded revenue strongly. There was also good momentum in agricultural spraying in North America. Exchange rate variations had a negative impact of €5.1 million on revenue.

  • AGRICULTURAL SPRAYING generated revenue of €119.7 million, an increase of €19.6 million (19.6%).

This growth can be attributed to good momentum in the self-propelled sprayer and spare parts segments, driven notably by North America and Australia.

  • SUGAR BEET HARVESTERSrevenue was €16.8 million, a slight decline of €0.1 million (0.5%).

Q2 is not particularly representative of this highly seasonal business. That said, it does confirm the growth in our spare parts and used machinery revenue, particularly in Eastern Europe.

  • GARDEN WATERING AND SPRAYING revenue was €46 million, an increase of €14.6 million (46.5%).

An excellent quarter and the best sales in the last five years. The growth levers we described in Q4 2019-2020 and Q1 2020-2021 are still at work (growth market, best-in-sector service, lockdown) and were supplemented by new drivers, namely the rebuilding of retailers’ stocks and pre-Brexit stockpiling in the UK. This comes against the backdrop of heavy pressure on Chinese supplies due to container and plastic shortages.

  • INDUSTRIAL SPRAYING, with revenue of €60.2 million, saw growth of €13.6 million (29.3%), bearing in mind that there is no longer any difference in scope attributable to iNTEC, which has been consolidated since the end of Q1 2019-2020.

iNTEC and spare parts sales were strong. In the “projects” activity, we benefited from deferrals from Q4 2019-2020 to Q2 2020-2021.

OUTLOOK

The group is cautious about extrapolating this growth to the rest of the year. The shifting of billing from H1 to H2 2019-2020 (COVID impact) make for a more demanding basis of comparison.

  • AGRICULTURAL SPRAYING

The good trend in agricultural commodity prices in recent months, government support measures (US, Australia, France, Germany) and the suspension of customs duties on French wine in the US (losses of €400 million per year) are boosting our order book. Frosts are expected to have a limited effect on viticulture, but a more pronounced one on the fruit growing segment. Steel prices are up, and we are adjusting our prices on a case-by-case basis. At this stage, we have not noted any critical difficulties linked to the shortage of electronic components.

  • SUGAR BEET HARVESTERS

The order book is now bigger than at the same point last year, a direct result of the action plans implemented to develop the Terra Variant range in liquid manure spreading and anaerobic digestion, and international sales of sugar beet harvesters. Beet prices are trending up, but last season’s yields were affected by beet yellows virus, and those of the next harvest will bear the impact of frost, albeit to a lesser extent.

  • GARDEN WATERING AND SPRAYING

Our order book is currently higher than it was last year. We have implemented a policy of anticipating orders and deliveries with our customers in order to reconstitute stocks and meet consumer demand. The revenue trend is very strong, but this business is highly dependent on the weather, and it is only after Q3 that the full-year outlook becomes clearer. In addition, we have been feeling severe pressure on plastic raw materials for several months, in terms of both price and availability.

  • INDUSTRIAL SPRAYING

The strong trend in the furniture sector continues to reflect change in household behavior (DIY, home decoration, etc.). However, the recovery of the automotive sector remains fragile, with at this stage a recovery in Asia and an uncertain outlook in other areas threatened by tension on deliveries of electronic components.

UPCOMING EVENTS

June 1, half-year results

July 27, third quarter revenue

About EXEL Industries:

EXEL Industries’ core business is agricultural and industrial spraying. The Group also competes in the consumer watering products market and in sugar beet harvesters. The goal of EXEL Industries is to expand in its markets through a policy of constant innovation and an international growth strategy. EXEL Industries employs more than 3 000 people spread across 27 countries and five continents.

Euronext Paris, SRD Long only – compartment B (Mid Cap)
EnterNext© PEA-PME 150 index (Mnemo EXE / ISIN FR0004527638)

The SFAF presentation is available on the website www.exel-industries.com

Yves BELEGAUD
Group Chief Executive Officer Yves.belegaud@exel-industries.com
Patrick TRISTANI
C.F.P.O/ Investor Relations. Tel :0682258104
Patrick.tristani@exel-industries.com

2.13.0.0

Attachment


About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

HOYLU MOTTAGER ORDER FRÅN STOR BYGGFIRMA I USA7.5.2021 08:45:00 CEST | Pressemelding

Stockholm den 7 maj 2021 – Hoylu, ledande inom visuella samarbetslösningar för distribuerade team, meddelade idag att man fått en order från Barton Malow, (www.bartonmalow.com), ett fullservice entreprenad företag med huvudkontor i Michigan, USA. Ordervärdet uppgår till 340 000 sek och representerar expansionen av Hoylus verksamhet inom byggbranschen med high-end arkitektonisk design och projektledning. För ytterligare information, vänligen kontakta: Stein Revelsby, VD på Hoylu + 1 213 440 2499 e-post: sr@hoylu.com Karl Wiersholm, CFO på Hoylu + 1 425 829 2316 e-post: kw@hoylu.com Om Hoylu Hoylus uppdrag är att göra distansarbete och informationsutbyte enkelt. Genom vår anpassningsbara Connected Workspaces™ levererar vi programvarulösningar till företag, organisationer och individer i praktiskt taget alla branscher som gör det möjligt för alla team, stora som små att arbeta effektivt och säkert i ett intuitivt och enkelt arbetsflöde. För mer information: www.hoylu.com Testa Hoylu grati

HOYLU RECEIVES ORDER FROM LARGE CONSTRUCTION FIRM IN THE US7.5.2021 08:45:00 CEST | Press release

Stockholm, Sweden, May 7, 2021 – Hoylu, a leader in visual collaboration solutions for distributed teams, announced today that it has received an order from Barton Malow, (www.bartonmalow.com), a full-service construction firm headquartered in Michigan, US. The order value is 340,000 SEK and represents an expansion of Hoylu’s business within the construction industry with high-end architectural design and project management. For more information, please contact: Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: sr@hoylu.com Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: kw@hoylu.com About Hoylu Hoylu’s mission is to empower distributed teams to collaborate easily and seamlessly while always staying in sync. Hoylu’s Connected Workspaces™ helps enterprises as well as small and medium companies run projects, programs, and initiatives across time zones and continents with the same level of engagement and clarity as if everyone were working in the same room. For more information: www

Dlab partner in European digital transformation project for a more sustainable energy system7.5.2021 08:30:00 CEST | Press release

Cleantech company Dlaboratory Sweden AB (publ) joins a European consortium in applying for funds from EU’s joint programming platform ERA-NET Smart Energy Systems (SES) for a project on power grid resilience. The overall aim of the project is to advance the green energy transition in all sectors of the energy system while also ensuring security of supply in the power grid. Swedish KTH Royal Institute of Technology, Austrian Institute of Technology (AIT), Siemens, Wiener Netze, Fraunhofer ISE, OFFIS, and Solandeo GmbH join forces with dLab for the ERA-Net SES call for transnational projects on digital transformation for green energy transition. The proposed project called Resili8 – Resilience for Cyber-Physical Energy Systems – is aiming to increase grid resilience through a digitalized smart system. Part of the project proposal plan is an installation of dLabs solution in Austrian utilities company Wiener Netze’s power grid to study improved resilience possibilities. - The future energ

Yara International ASA ex-dividend NOK 20 today7.5.2021 08:01:00 CEST | Press release

Oslo, 7 May 2021: Shares in Yara International ASA will be traded ex-dividend NOK 20 as of today, 7 May 2021. Contact Thor Giæver, Investor Relations Cellular: (+47) 480 75 356 E-mail: thor.giaver@yara.com About Yara Yara grows knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger and a planet respected, we pursue a strategy of sustainable value growth, promoting climate-friendly crop nutrition and zero-emission energy solutions. Yara’s ambition is focused on growing a climate positive food future that creates value for our customers, shareholders and society at large and delivers a more sustainable food value chain. To achieve our ambition, we have taken the lead in developing digital farming tools for precision farming, and work closely with partners throughout the food value chain to improve the efficiency and sustainability of food production. Through our focus on clean ammonia production, we aim to enable the hydrogen econo

Yara International ASA eks. utbytte kr 20 i dag7.5.2021 08:01:00 CEST | Pressemelding

Oslo, 7. mai 2021:Aksjene i Yara International ASA noteres eks. utbytte på kr 20fra og med i dag, 7. mai 2021. Kontakt Thor Giæver, Investorkontakt Mobil: (+47) 480 75 356 E-post: thor.giaver@yara.com Om Yara Vår visjon om en verden uten sult ligger bak vår strategi som fremmer bærekraftig verdiskaping gjennom klimavennlig plantenæring og nullutslippsløsninger for energisektoren. Yaras ambisjon er å bidra til en klimapositiv fremtid for verdens matproduksjon. Slik skaper vi verdier for kundene våre, aksjonærene og samfunnet rundt oss. For å nå dette målet, leder vi an i utviklingen av digitale verktøy for presisjonslandbruk. Vi samarbeider tett med andre aktører i verdikjeden for at verdens matproduksjon skal bli mest mulig effektiv og bærekraftig. Vår satsing på grønn ammoniakk har som ambisjon å muliggjøre hydrogenøkonomien og bidra til et grønt skifte innen shipping, produksjon av plantenæring og andre energiintensive industrier. Yara ble grunnlagt i 1905 for å møte matmangelen i Eu

AB Klaipėdos nafta preliminary revenue for April 20217.5.2021 08:00:00 CEST | Press release

The preliminary sales revenue of the Company’s oil terminals for April 2021 comprises EUR 0.9 million and is lower by EUR 2.2 million or by 71 % compared to April of 2020. The preliminary sales revenue of the Company’s oil terminals for the four months of 2021 comprises EUR 6.3 million and is lower by 41 % compared to the same period of 2020. The preliminary sales revenue of the Company’s Klaipėda LNG terminal for April 2021 comprises EUR 2.9 million (during the same month of 2020 – EUR 3.4 million). Klaipėda LNG terminal revenue from regulated activities consists of the regasification tariff fixed part (for booked annual capacities), variable part for amount of re-gasified LNG and reloading revenue. The level of Klaipėda LNG terminal revenue (for booked annual capacities) does not depend on regasification volume. Revenue is confirmed by the National Energy Regulatory Council (NERC) based on the approved methodology of State regulated prices in the natural gas sector and is calculated

Yara Announces the Commercial Launch of Agoro Carbon Alliance, enabling global farm decarbonization7.5.2021 08:00:00 CEST | Press release

The new farm decarbonizationbusiness has operations and partnerships across four continents Oslo, Norway, May 7, 2021 - Yara, a leading crop nutrition solutions provider, today announced the commercial launch of Agoro Carbon Alliance, a global business created for farmers to earn additional revenue from positive climate action. By adopting climate-positive practices farmers can produce Farm Carbon Credits or climate-smart certified crops and help to decarbonize food supply chains. Agoro Carbon puts farmers at the center of the solution by incentivizing and enabling them to change practices and connecting them to the growing number of businesses looking for ways to achieve their climate pledges. Agoro Carbon will support farmers with the agronomical expertise and practical support to successfully sequester carbon in the soil and reduce emissions from the field. This will in turn generate high-quality, third-party certified carbon credits and increase farmers’ income. Farmers who join Ag