Q1 2024 revenue
PRESS RELEASE Loudéac, 6 May
2024
Q1 2024 revenue
Farming SuppliesSales impacted
by heavy rainfallGross margin firmly under control
Farming ProductionStrong 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.
In just a few months, the Group has already
signed seven contracts with hospital canteens, a Logipôle logistics
centre, a high school and a group of nursing homes. It is also
already present in numerous delicatessens and bakeries, which are
stocking Au Pré! brand products and selling them to their
customers.
Roadmap implemented to stimulate
business and optimise structure
To return to more profitable growth in 2024 and
beyond, the Group has implemented several measures to stimulate
business activity, optimise its organisational structure and limit
operating expenses.
- To safeguard gross
margin, the Group is streamlining its product range by delisting
products that contribute less to gross margin and placing the
emphasis on own-brand products, which contribute more to gross
margin, as well as optimising stocks.
- It is strengthening
targeted outgoing call campaigns in line with its long-standing
expertise in Farming Supplies.
- Online orders have
increased following the launch of the new-look Vital Concept
website at the end of February 2024, with e-commerce sales having
grown by nearly 20% per week.
- The Group has
simplified its organisation structure by pooling the new ERP system
for all its subsidiaries and grouping business activities at the
central warehouse in Loudéac.
Combined with strict financial discipline, these
measures will drive a linear improvement in business activity and
operating profitability over the course of the year.
Next release:H1 2024 revenue on
4 September 2024, after market.
About WINFARM
Founded in Loudéac, in the heart of Brittany, at
the beginning of the 1990s, the Winfarm group is today the leading
French player offering the agricultural, livestock, horse-breeding
and landscape markets a range of consultancy, service and distance
selling products and global, unique and integrated solutions to
help them meet the new technological, economic, environmental and
social challenges of the new generation of agriculture.
With a vast catalogue of more than 35,000
product references (seeds, phytosanitary, harvesting products,
etc.), two-thirds of which are marketed under own brands, WINFARM
has more than 45,000 customers in France, Belgium and the
Netherlands.
By 2025, WINFARM aims to achieve revenue of
around €200m and an EBITDA margin of about 6.5%.
For more information about the company:
www.winfarm-group.com
Contacts:
WINFARMinvestisseurs@winfarm-group.com |
|
ACTIFIN, Financial CommunicationsBenjamin
Lehari+33 (0) 1 56 88 11
11Benjamin.lehari@seitosei-actifin.com |
ACTIFIN, Financial Press RelationsJennifer
Jullia+33 (0)1 56 88 11 19Jennifer.jullia@seitosei-actifin.com |
1Turnover from the activities of AgroConseil (under
the Agritech brand) and AgroInnovation (under the Bel Orient
brand)2 Climatic forecast of March 2024: a month marked by very
abundant precipitation| Météo-France (meteofrance.fr)
- WINFARM_CP_CA_T1_2024_Vdef_ENG
Winfarm (EU:ALWF)
Graphique Historique de l'Action
De Oct 2024 à Nov 2024
Winfarm (EU:ALWF)
Graphique Historique de l'Action
De Nov 2023 à Nov 2024