Exel Industries

First quarter 2020-2021 revenue : A promising first quarter: 19% growth

PRESS RELEASE                                                                                               February 26, 2021

First quarter 2020-2021 revenue   A promising first quarter: 19% growth

Q1 revenue €m	2019 ‐ 2020	2020 - 2021	Change in value		Change in %
	Reported	Reported	Reported	* like-for-like	Reported	* like-for-like
Agricultural Spraying	56	58.5	+2.4	+3.9	+4.4%	+6.9%
Sugar Beet Harvesters	15	16.4	+1.5	+1.9	+9.9%	+13%
Garden Watering and Spraying	7.9	13.6	+5.7	+6	+72.3%	+76.1%
Industrial Spraying	40.5	54.1	+13.6	+4.4	+33.4%	+10.8%
EXEL Industries Group	119.4	142.6	+23.2	+16.2	+19.4%	+13.5%

*like‐for‐like = at constant foreign exchange rates and scope

First quarter 2020‐2021

The new year began with first quarter (October - November - December) 2020-2021 revenue of
€142.6 million, up €23.2m (+19.4%) on Q1 2019-2020. Like-for-like sales were €135.6 million, giving organic growth of 13.5%. The performance continues the recovery started Q4 last year. Note that growth was achieved against a Q1 2019-2020 comparison base when only China was confined due to COVID-19.