Exel Industries :Third-quarter 2019-2020 revenue A limited decline in revenue despite the historical health crisis
28 Juillet 2020 - 7:17PM
PRESS
RELEASE
July 28, 2020
Third-quarter 2019-2020
revenueA limited decline in revenue despite the historical
health crisis
Third-quarter revenue in € million (April to
June) |
3rd |
3rd |
Change in value |
Change in % |
Quarter |
Quarter |
Published |
at constant foreign exchange rates and scope (*) |
Published |
at constant foreign exchange rates and scope (*) |
2019-2020 |
2018-2019 |
|
|
Agricultural Spraying |
99.6 |
105.7 |
- 6.1 |
- 5.9 |
-5.8% |
-5.6% |
Sugar Beet Harvester |
22.0 |
22.6 |
- 0.6 |
- 0.5 |
-2.6% |
-2.2% |
Garden Watering and Spraying |
50.1 |
49.4 |
0.7 |
0.8 |
+1.4% |
+1.5% |
Industrial Spraying |
38.8 |
47.3 |
- 8.5 |
- 17.7 |
-18.0% |
-37.5% |
Total |
210.4 |
224.9 |
- 14.5 |
- 23.3 |
-6.4% |
-10.4% |
9 months revenue in € million (from October to
June) |
|
|
Change |
Change |
|
|
Published |
at constant foreign exchange rates and scope (*) |
Published |
at constant foreign exchange rates and scope (*) |
2019-2020 |
2018-2019 |
|
|
Agricultural Spraying |
255.7 |
282.9 |
- 27.2 |
- 27.6 |
-9.6% |
-9.8% |
Sugar Beet Harvester |
53.8 |
54.0 |
- 0.2 |
- 0.3 |
-0.3% |
-0.5% |
Garden Watering and Spraying |
89.3 |
94.5 |
- 5.2 |
- 5.4 |
-5.5% |
-5.7% |
Industrial Spraying |
125.8 |
142.4 |
- 16.6 |
- 30.9 |
-11.7% |
-21.7% |
Total |
524.7 |
573.8 |
- 49.1 |
- 64.1 |
-8.6% |
-11.2% |
(*) The amounts at constant foreign exchange
rates and scope are calculated:- by converting the amounts for the
current quarter at the average quarterly foreign exchange rates for
the previous year;- by excluding the revenue for Intec, a company
acquired in February 2020.
At end 06.2020, EXEL INDUSTRIES Group had
generated revenue of €524.7M, down by €49.1M (-8.6%) compared to
end 06.2019. At comparable foreign exchange rates and scope,
revenue amounts to €509.6M, down by -€64.2M (-11.2%).The 3rd
quarter 2020 (April-May-June) ended with revenue of €210.4M, down
by €14.5M (-6.4%) compared to Q3.2019. While disappointing, this
result conceals a gradual return to the levels of activity of 2019.
At comparable foreign exchange rates and scope, Q3 revenue stands
at €201.5M, down -10.4% compared to Q3.2019.The change in scope and
exchange rate impact in Q3 concern the following items:
- A change in scope of +€9.7M following the acquisition of INTEC,
consolidated since 02.2020.
- An exchange rate impact of -€0.8M mainly due to the Australian
dollar, the ruble and the Mexican peso.
INTEC's consolidation continues in line with
forecasts. The technical and geographical complementarities with
the other solutions of our Industrial Spraying division enable us
to offer an extensive solutions portfolio, notably to European
manufacturers.
Revenue was €99.6M, down by €6.1M (5.9%). In
France, the market contracted by 15% and COVID19 disorganized our
production capacities, delaying deliveries and billing. The impact
was less in the USA.
·Sugar Beet Harvesters
Revenue was €22M, down by €0.6M (-2.6%), with
little impact from COVID19 except for production and delivery
delays.
·Garden Watering and
Spraying
Revenue was €50.1M, up by €0.7M (1.4%). Despite
store closures, we developed our business in alternative networks
and June saw our highest ever level of activity. Recovery after
lock-down has been vigorous for a business related to the pleasure
of being in the fresh air, and reinforced by favorable weather.
·Industrial Spraying
Revenue came out at €38.8M, down by €8.5M
(-18%). This is the result of the repercussions of the European
automotive industry's difficulties, delays in Summer projects to
the 2021 Winter period, and production and delivery delays due to
the partial activity in our plants. In Q3, INTEC's business stood
at €9.7M.
Forecasts for the end of the fiscal year
With the exception of the Agricultural Spraying
business, we expect an increase in business in Q4 compared to 2019
due to the catch-up of the delays indicated above and the
consolidation of INTEC over 9 months. This forecast is based on the
absence of a new lock-down, and a weakening of the pandemic in
North and South America over the coming weeks.For the Sugar Beet
Harvesting business, Q3 production and delivery delays will be
invoiced in Q4.The very positive sales momentum should enable a
return to normal for the Garden Watering and Spraying business.The
Industrial Spraying business continues to face tense conditions,
but is gradually returning to the levels of 2019.Lastly, we are
reaping the rewards of our innovation efforts. These efforts led to
a gain of 3 places in the 2020 INPI ranking for intermediate-sized
companies, where we are now in 7th position. This testifies to our
ability to innovate, notably in applications that preserve natural
resources (in the Watering and Sugar Beet Harvesting activities) or
that reduce emissions to the strict minimum (in the Industrial and
Agricultural Spraying activities).
·Upcoming meetings
October 27, 2020 after market closing: 2019-2020 Q4
Revenue;December 17, 2020 before market opening: 2019-2020
Full-Year Results.
About EXEL Industries:EXEL Industries’ core business is
agricultural and industrial spraying. The Group also competes in
the consumer watering products market and in sugar beet harvesters.
The goal of EXEL Industries is to expand in its markets through a
policy of constant innovation and an international growth strategy.
EXEL Industries employs approximately 3 544 people spread across 27
countries and five continents.Euronext Paris, SRD Long only –
compartment B (Mid Cap)EnterNext© PEA‐PME 150 index (Mnemo EXE /
ISIN FR0004527638) This press release is available in French and in
English.
YOUR
CONTACTS
Yves
BELEGAUD
Patrick
TRISTANI
Group Chief Executive
Officer
Group
Chief Financial Officer / Investor
Relationsyves.belegaud@exel-industries.com
patrick.tristani@exel-industries.com
- Exel Industries - CP CA Q3 2019-2020_EN
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