EXEL Industries

First quarter 2023–2024 sales: up 8.1% - Seite 2

First quarter 2023–2024
sales

• AGRICULTURAL SPRAYING UP 2.1%
  

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.

• SUGAR BEET HARVESTING UP 39.0%
  

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).

• LEISURE DOWN 19.2%
  

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.

• INDUSTRY UP 12.9%
  

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

• AGRICULTURAL SPRAYING
  • Despite the continuous decline in agricultural commodity prices, the order book remains stable, offering clear visibility across all brands and regions for the 2023–2024 fiscal year. The recent agricultural trade fairs in Europe enabled the Group to maintain order intake during the first quarter.
  • In addition, agricultural income in the United States, albeit down compared to the beginning of 2022–2023, nevertheless remains well above the previous years’ performances.
  • Moreover, the recent stabilization of interest rates could make it easier for farmers to finance purchases of agricultural equipment, even though they remain cautious.
  • Recent events in the Red Sea could affect logistics costs and the availability of certain components.

• SUGAR BEET HARVESTING