EXEL Industries: 2024–2025 half-year results

First half 2024–2025 resultsPriority given to reducing debt and optimizing WCR in the first half, positive net income driven by lower costs in response to lower volumes in Agricultural SprayingIn the first half of 2024–2025, EXEL Industries's revenue fell10.0% to €443.4 million.The Group posted half-yearrecurring EBITDA of €20.3 million, representing 4.6% of revenue. Net income was positive at€1.5 million.The Group's level of net financial debt improved by €38...

Paris, 23/05/2025 (informazione.news - comunicati stampa - industria)

Recurring EBITDA = current operating income (EBIT) + depreciation and amortization of non-current assets + change in provisions (excluding provisions on current assets) + share of profit of equity-method associates

Find the EXEL Industries Group's half-year results on
https://www.exel-industries.com/investors-page/?lang=en

Half-year revenue

*LFL = like-for-like (at constant consolidation scope and foreign exchange rates)

In the first half of 2024–2025, the Group generated revenue of €443.4 million, down 10.0%. On a like-for-like basis, revenue was down 10.4% , mainly due to lower volumes in Agricultural Spraying, with other activities either stable or growing.

Half-year financial results

Recurring EBITDA amounted to €20.3 million – or 4.6% of Group revenue , compared with 6.2% in 2023–2024. In response to the overall reduction in revenue due to lower volumes in Agricultural Spraying, the Group placed an emphasis on cutting costs and optimizing margins.

At March 31, 2025, net income amounted to €1.5 million , compared with €4.7 million in 2023–2024, impacted by the decline in recurring EBITDA.

Net financial income was negative at -€4.7 million, but improved by €1.7 million compared with the first half of last year, thanks to lower average gross indebtedness, combined with lower interest rates, and less unfavorable foreign exchange losses than at March 31, 2024.

Balance sheet

At March 31, 2025, net financial debt stood at €174.5 million , compared with €212.7 million in the first half of 2024, a marked improvement of €38 million, as a result of efforts to optimize WCR, mainly driven by a significant reduction in inventory levels compared with the first half of the previous year. However, the change in WCR remained negative over the first half of 2024–2025 at €30 million, in line with the seasonal nature of the Group's business (compared with €77.7 million in the first half of 2023–2024). 

The Group upholds its investment policy, with Capex amounting to €15.6 million, notably including ongoing construction work on the new Sames plant in Stains, France.

At the same time, EXEL Industries continued to renew its credit lines for its operating requirements.

Audit process

The Group Audit Committee met on May 20, 2025.

The Board of Directors met on May 21, 2025 and approved EXEL Industries's half-year financial statements at March 31, 2025.

The Group's Statutory Auditors have finished certifying the first half financial statements and will shortly issue a report without reservations.

2025 outlook

Daniel Tragus, Chief Executive Officer of the EXEL Industries Group

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