Exel Industries Q1 2019-2020 sales: Quarter marked by a temporary decline in the Industrial Spraying
PRESS RELEASE January 23, 2020
Q1 2019-2020 sales
Quarter marked by a temporary decline in the
|Change at foreign exchange rates (*)|
in €m (October to December)
|Sugar Beet Harvesting||16.8||15.0||-10.8%||-11.9%|
|Garden Watering and Spraying||9.2||7.9||-13.8%||-14.5%|
(*) Amounts at foreign exchange rates are calculated by converting the figures for the current quarter using the average quarterly foreign exchange rates for the previous year
Sales during the first quarter of the 2019-2020 fiscal year (October to December 2019) totaled €119.4 million, a decline of 9.6% compared to Q1 2018-2019.
Almost 75% of this drop is linked to the Industrial Spraying business which had a very good Q1 2018-2019, particularly in Asia.
Agricultural Spraying sales were stable compared with Q1 2018-2019. Ongoing regulatory changes and public opinion pressure have impacted the business as a whole.
·Sugar Beet Harvesting
Continuing the trend of the previous fiscal year, business was down 10.8%, still affected by the crisis in the European sugar industry.
·Garden Watering and Spraying