Q1 2024 revenue

PRESS RELEASE
Loudéac, 6 May 2024

Q1 2024 revenue

Farming Supplies
Sales impacted by heavy rainfall
Gross margin firmly under control

Farming Production
Strong sales growth across all regions

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 released its Q1 2024 revenue.

In millions of euros, unaudited	Q1 2023	Q1 2024	Change
Farming Supplies	35.1	29.9	-14.8%
Farming Production	2.7	3.4	+28.1%
Other1	0.5	0.5	-0.4%
TOTAL	38.2	33.8	-11.7%

Winfarm generated revenue of €34.3m in Q1 2024, down 11.7% compared with Q1 2023.

The decline mainly results from poor weather conditions in the first quarter, with rainfall in March up by as much as 85% across France². The wet weather weighed on seed orders and delayed the planting of corn plants, which usually contribute to Farming Supplies sales in March. The division had already made up for some of the shortfall in April. As a result of these conditions, Farming Supplies revenue (87% of total revenue in Q1 2024) fell to €29.9m.

Revenue from the Farming Production business (10% of Q1 2024 revenue), marketed under the Alphatech brand, amounted to €3.4m, up 28.1%. The measures taken by the division to boost sales are starting to produce results as business conditions return to normal in exports, notably those to the Middle East, which has returned to normal business levels. The increase in orders recorded in the first quarter improves visibility for the Group, which is expecting a like-for-like increase in sales in the second quarter. 

Official inauguration of "Au Pré"

Attended by Nicole Le Peilh, MP for Morbihan (Brittany), the official inauguration of the Au Pré brand on 26 April 2024 at the Bel Orient site was an opportunity to review the brand’s commitments and values.

The aim of the new dairy recovery solution for a network of independent farmer members is to ensure that dairy production fully respects animal welfare, the environment, and the well-being of farmers.