EXEL Industries: second quarter 2021-2022 sales, up 2.0%
PRESS RELEASE April 26, 2022
|Second quarter 2021-2022 sales: up 2.0%|
Growth in all businesses except Leisure
(January 2022–March 2022)
|2020 – 2021||2021 –2022||Change in value|
|SUGAR BEET HARVESTERS||16.8||21.5||+4.7||+4.2||+28.2%||+25.0%|
*Like-for-like = at constant foreign exchange rates and scope
(October 2021–March 2022)
|2020 – 2021||2021 –2022||Change in value|
|SUGAR BEET HARVESTERS||33.2||39.2||+5.9||+4.9||+17.9%||+14.9%|
*Like-for-like = at constant foreign exchange rates and scope
Situation in Ukraine and Russia
The Group has been closely monitoring the conflict in Ukraine and has mobilized its teams to welcome colleagues from the region and their families to western Europe.
EXEL Industries has two agricultural equipment subsidiaries in Ukraine: one in agricultural spraying, the other in sugar beet harvesters. The fall in sales in the second quarter was limited to €4.5 million compared to 2021. In this uncertain climate, the Group expects business to recover only slowly in the short term.
In Russia, the Group is mainly focused on agricultural equipment. Given the need to minimize future impacts on food supply, EXEL Industries is maintaining as much of its activity as possible, in compliance with European rules and applying special vigilance.
As a reminder, the Group’s sales in Russia, Belarus and Ukraine made up 4% of 2020–2021 sales.
Second quarter 2021–2022 sales
Sales for the second quarter of the 2021-2022 fiscal year amounted to €247.5 million, up 2.0% compared with the same period of the previous fiscal year. At constant exchange rates and same scope, (+€3.7 million, mainly due to the rises of the US dollar and the GBP), Group sales were down 3.3%. Two factors explain the fall: first, the introduction of a new ERP software in the gardening business led to delays in dispatching orders; second, the ongoing supply chain difficulties particularly in components again disrupted production this quarter, postponing some deliveries, notably in agricultural spraying.
The scope effect is the result of two recently acquired businesses by the Group: the nautical activity was consolidated from September 30, 2021 and contributed €3 million this quarter and €5.1 million in the half-year; GF Garden (Italy) has been consolidated into the garden division since February 15, 2022 and generated €6 million this quarter.
- AGRICULTURAL SPRAYING, sales of €122.1 million, up €2.4 million (up 1.9%)
The conflict in Ukraine boosted the prices not only of agricultural commodities (wheat, corn, rape, etc.) but also spare parts and components. Sales from agricultural spraying grew slightly in volumes with different trends seen in different markets. Europe has remained stable and in Australia the healthy tendency glimpsed in the first quarter continued. In contrast, North America was held back by a lack of spare parts and components. Again this quarter, production at all the Group’s plants was affected by shortages in supply chains for mechanical, hydraulic and electronic components resulting in severely late deliveries.
- SUGAR BEET HARVESTERS, sales of €21.5 million, a €4.7 million increase (up28.2%)
This quarter confirmed the healthy start made in the first quarter by this business, following on from a year of strong growth in 2020-2021. Sales of second-hand machines and spare parts are up, and price increases, as a consequence of the inflation of the prices of steel and components, were passed in all product families.
- LEISURE, sales of €38.2 million, down 17%
The acquisitions of the nautical division on September 30, 2021 (Wauquiez, Rhéa Marine, Tofinou) and of GF Garden on February 15, 2022, resulted in a scope effect increasing sales for this activity by €9 million. At constant exchange rates and same scope, the garden business had a difficult quarter in a downward European market and was affected by significant delays caused by migrating the IT systems to SAP. At the same time, the pricing offer was adapted to compensate for the sharp rises in costs (logistics, commodities).
- INDUSTRY, sales of €65.7 million, a €5.5 million increase (up 9.3%)
North America and China continue to drive growth in industrial spraying, in both volume and value terms (automotive and wood industry). The position is more difficult in Europe and the economic environment remains uncertain. In technical hoses, rising costs of commodity led to regular sales price rises, resulting in increased revenue for this business.
- AGRICULTURAL SPRAYING
Agricultural commodity prices are expected to remain at high levels, encouraging farmers to renew their machines.
Commercial brands are adjusting their sales prices, to offset the steel and components costs increases and to try to limit the impact on margins.
The order book is rising ahead of its 2020-2021 levels, but supply chain disruptions (components) persist and will continue to affect productivity and the pace of deliveries.
Some orders are likely to be canceled as a result of the conflict in Ukraine.
- SUGAR BEET HARVESTERS
Stabilization of new machine sales expected in the fiscal year, despite canceled/delayed orders in Ukraine and Russia.
Confirmation that the diversification into the Terra Variant range can act as a driver of growth into new regions.
Sales of spare parts and used machines remain strong.
The change of ERP software implemented in the second quarter (migration to SAP) should disturb less the dispatching of orders in the third quarter, with a gradual recovery in volumes over the third and fourth quarters. However, in this seasonal business, a portion of these delays will be difficult to recover.
The new Easy-Mix composter, which has won a string of awards from different organizations, looks set to grow sales.
After briefly stabilizing, commodity prices are rising-up again.
The commercial and industrial restructuring of the nautical activity continues.
The automotive market is difficult in all regions, with carmakers showing signs of a wait-and-see attitude.
Asia and America should continue to support growth in other markets.
Yves Belegaud, Chief Executive Officer of the EXEL Industries Group, said:
“By being able to rely on its diversified businesses, the Group showed, in the second quarter, its resilience in an uncertain geopolitical context. Sales were slightly up on the second quarter 2020-2021, despite an unfavorable basis of comparison and the disruptions we are currently facing. The order book nonetheless remains strong, in an uncertain global environment but with very favorable agricultural commodity prices.EXEL Industries again showed its pricing power to cope with an even more inflationary environment.”
May 31, 2022: 2021-2022 half-year results
July 26, 2022 after market closing: third quarter 2021-2022 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 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 3,546 permanent employees spread across 27 countries and five continents. The Group posted FY 2020-2021 sales of €877 million.
Group Chief Executive Officer
Group Chief Financial Officer / Investor relations direction.communication@EXEL-industries.com
AttachmentTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified 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 by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Kalera - Last day of trading in Kalera AS' shares on Euronext Growth Oslo25.5.2022 08:00:00 CEST | Press release
OSLO, Norway, May 25, 2022 (GLOBE NEWSWIRE) -- Reference is made to the stock exchange announcement published by Kalera AS (the "Company") (Euronext Growth Oslo: KAL, Bloomberg: KSLLF) on 13 May 2022 regarding the merger with its wholly-owned Luxembourg subsidiary Kalera S.A. (the "Merger"). The Merger will become effective upon publication of the minutes from Kalera S.A.'s general meeting approving the Merger in accordance with Luxembourg law. Such publication, and the effectiveness of the Merger, is expected to occur on 27 May 2022 (the "Effectiveness"). The last day of trading in the Company's shares on Euronext Growth Oslo is today, 25 May 2022. A trading suspension will be imposed by the Oslo Stock Exchange following end of trading today, and the trading suspension will remain in force until the Effectiveness. As of the Effectiveness, all of the Company's assets, rights and liabilities will be transferred to Kalera S.A., and the Company will be dissolved and have it shares deliste
Reminder of an Investor Conference Webinar25.5.2022 08:00:00 CEST | Press release
We would like to remind that KN invites shareholders, investors, analysts, and other stakeholders to join its investor conference webinar scheduled on May 27th of 2022 at 9.00 am (EET). The presentation will be held in English. The webinar will be hosted by KN Chief Executive Officer Darius Šilenskis and Chief Financial Officer Mindaugas Kvekšas who will introduce the performance and unaudited financial results of KN for the three months of 2022. How to join the webinar? To join the webinar, please register via following link: https://nasdaq.zoom.us/webinar/register/WN_aVz8e35rRqO1UC5O3WBp4AYou will be provided with the webinar link and instructions how to join successfully. When joining the webinar for the first time, you will be asked to register on the Zoom platform. The webinar will be recorded and available online for everyone at the company’s website on www.kn.lt and on Nasdaq Baltic youtube.com account. What is a corporate webinar? A corporate webinar is a virtual conference, du
Saniona publishes its interim report for the first quarter of 202225.5.2022 08:00:00 CEST | Press release
Q12022 (Q12021) Revenue was SEK 6.6 M (3.4 M)Operating loss was SEK -133.2 M (-94.1 M) Net loss was SEK -133.4 M (-83.4 M)Loss per share was SEK -2.14 (-1.34)Diluted loss per share was SEK -2.14 (-1.34) Business highlights in Q1 2022 Saniona initiated the Multiple Ascending Dose (MAD) stage and the Positron Emission Tomography (PET) stage of its Phase 1 trial of SAN711; The ongoing Phase 1 trial is placebo-controlled, and the data remain blinded. Saniona continues to expect data from the trial by mid-2022.Saniona received SEK 7.3 million (US$0.8 million) from Novartis related to Novartis’s January 2021 acquisition of Cadent Therapeutics, in which Saniona held a 3% ownership stake. This payment, in addition to the previously received SEK 24.2 million (US$2.9 million), together complete Saniona’s portion of the upfront payment connected to the acquisition. Saniona may also receive a portion of the remaining SEK 5.1 billion (US$560 million) in contingent payments associated with the achie
Saniona publicerar sin delårsrapport för det första kvartalet 202225.5.2022 08:00:00 CEST | Pressemelding
Q1 2022 (Q1 2021) Intäkter uppgick till 6,6 MSEK (3,4 M)Rörelseresultat uppgick till -133,2 MSEK (-94,1 M) Periodens resultat uppgick till -133,4 MSEK (-83,4 M)Resultat per aktie uppgick till -2,14 SEK (-1,34)Resultat per aktie efter utspädning uppgick till -2,14 SEK (-1,34) Väsentliga händelser under Q1 2022 Saniona inledde upprepad dosering med doseskalering (MAD) samt undersökningar med positronemissionstomografi (PET) i Fas 1-studien med SAN711; den pågående Fas 1-studien är placebokontrollerad och data är fortfarande blindade. Saniona räknar fortsatt med att få tillgång till data från studien under mitten av 2022.Saniona erhöll 7,3 MSEK (0,8 MUSD) från Novartis relaterat till Novartis förvärv av Cadent Therapeutics i januari 2021, där Saniona hade en ägarandel på 3 procent. Denna betalning, utöver de tidigare erhållna 24,2 MSEK (2,9 MUSD), utgör tillsammans Sanionas del av förskottsbetalningen kopplad till förvärvet. Saniona kan också komma att erhålla en andel av de återstående 5
Avance Gas Holding Ltd Reports Unaudited Results for the First Quarter of 202225.5.2022 07:01:00 CEST | Press release
BERMUDA, 25 May 2022 – Avance Gas Holding Ltd (OSE: AGAS or the “Company”) today reported unaudited results for the first quarter 2022. HIGHLIGHTS The average time charter equivalent (TCE) rate was $37,608/day compared to $27,631/day in Q4 2021.Daily operating expenses (OPEX) were $8,459/day, up from $8,139/day in Q4 2021.A&G expenses were $1,126/day, down from $1,351/day in Q4 2021.Net profit of $24.3 million compared to $7.5 million for the fourth quarter 2021, or earnings per share of 32 cent compared to 10 cent for the fourth quarter.During the first quarter 2022, the CEO and the Chairman elected to step-down. The Board resolved to appoint Øystein Kalleklev as Executive Chairman and Jens Martin Jensen as a Director of the Company.During the first quarter 2022, the Company took delivery of Avance Polaris and Avance Capella, the first two of its six dual fuel 91,000 cbm VLGC newbuildings from Daewoo Shipyard in South Korea. The vessels were shortly thereafter delivered on Time Charte