Industria
EXEL Industries : First quarter 2023–2024 sales: up 8.1%
The EXEL Industries Group posted revenue of €200.1 million for the first quarter of the 2023–2024 fiscal year, up 8.1% , driven mainly by organic growth in sugar beet harvesting and industry.
Growth at constant consolidation scope and foreign exchange rates was 11.0% .
The change in consolidation scope arising from the Devaux group acquisition in June 2023 contributed €1.3 million to first quarter revenue.
* Like-for-like (LFL) = at constant consolidation scope and foreign exchange rates
First quarter 2023–2024
sales
Sales remained strong, up 6.3% at constant consolidation scope and foreign exchange rates, boosted by regular price increases incorporated since 2022, albeit undergoing an unfavorable basis of comparison versus 2023: first quarter 2022–2023 was marked by a strong catch-up in deliveries following a slowdown in component deliveries. First quarter 2023–2024 saw renewed disruptions to logistics, which lengthened delivery times to Australia and North America.
While the first quarter remains non-material in terms of seasonal sales patterns, the Sugar Beet Harvesting business continued to grow, driven by strong demand across all segments: new machines, fueled in particular by the previous year's deferrals, used machinery and spare parts. In geographical terms, while last year's sales were mainly generated by Eastern Europe, this year first quarter revenue mainly came from Western Europe (France, Germany, Poland).
Although listings remain satisfying, the Garden division saw its sales volumes shrink in the first quarter of 2023–2024. There is a certain sense of caution among the distributors as the market has declined compared to recent years, coupled with unfavorable weather conditions for sales in 2023 and purchasing power under strain. At this stage, distributor inventories are no larger than in previous years.
In the nautical industry, while distributors hold substantial inventories, the latest product innovations from the various brands are enjoying an excellent reception.
In Industrial Spraying, the Group posted an excellent first quarter driven by strong business growth in Asian markets, following the delivery of major high-viscosity and electrostatic projects for the automotive industry. Western Europe and North America continued to record brisk sales over the quarter.
Technical hoses remained in decline, in line with the 2022–2023 trend.
2023–2024 outlook
Daniel Tragus, Chief Executive Officer of the EXEL Industries Group
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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 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 3,931 permanent employees spread across 33 countries and five continents. The Group posted FY 2022–2023 sales of €1.1 billion.
Euronext Paris, SRD Long only – compartment B (Mid Cap) EnterNext© PEA-PME 150 index (symbol: EXE/ISIN FR0004527638)
Press release available onsite www.exel-industries.com
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