WINFARM

2023 revenue of €137.4m, up 5%.

PRESS RELEASE
Loudéac, 1 February 2024

2023 revenue of €137.4m, up 5%

Continued market share gains against a backdrop of falling prices

WINFARM (ISIN: FR0014000P11 - ticker: ALWF), the number-one French distance seller of goods and solutions and provider of advisory and other services for the farming and breeding industry, today reported its revenue for financial year 2023.

	Q4				12 months
in €m, unaudited	2022	2023	Chg.		2022	2023	Chg.	Chg. organic
Farming Supplies	31.7	28.1	-11.3%		116.8	125.1	+7.1%	-2.4%
Farming Production	3.2	2.4	-25.0%		12.2	10.0	-18.2%	-18.2%
Other	0.5	0.5	+2.9%		1.8	2.3	+25.4%	+25.4%
TOTAL	35.4	31.0	-12.4%		130.8	137.4	+5.0%	-3.5%

Farming Supplies: growth of 7.1% in 2023

The Farming Supplies business (91% of revenue at 31 December 2023), marketed under the Vital Concept brand, posted revenue of €125.1m in 2023, up 7.1%.

Sales in 2023 were driven by:

• the acquisition of Kabelis in the Landscaping and Green Spaces business (consolidated since August 2022), which recorded revenue of nearly €17.0m at the end of December 2023;
• a return to sustained momentum in the equestrian market at the end of the year, with growth of 4% over the full year;
• the confirmed robust performance of BTN de Haas, acquired in the Netherlands in July 2021.
  
  

Given the negative price effect combined with an unfavourable calendar (4 fewer days invoiced than in 2022), WINFARM successfully maintained a satisfactory level of business activity with a change in the organic scope, excluding the contribution of Kabelis, which posted a limited decline of 2.4%. This performance should also be seen in the light of particularly unfavourable weather conditions in the fourth quarter that weighed on order numbers, as well as the Group’s determination to safeguard its gross margin by limiting price concessions.