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
Industrial Spraying

	2018-2019	2019-2020	Change Published	Change at foreign exchange rates (*)
Q1 sales in €m (October to December)	132.1	119.4	-9.6%	-10.3%
Agricultural Spraying	56.4	56.0	-0.6%	-1.2%
Sugar Beet Harvesting	16.8	15.0	-10.8%	-11.9%
Garden Watering and Spraying	9.2	7.9	-13.8%	-14.5%
Industrial Spraying	49.8	40.5	-18.6%	-19.4%

(*) 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
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