EXEL INDUSTRIES :2016-2017 first-quarter revenue Recession in Agricultural Spraying in France
(Thomson Reuters ONE) -
PRESS RELEASE January
24, 2017
2016-2017 first-quarter revenue
Recession in Agricultural Spraying in France
2016-2017 2016-2017 Change of
2015-2016 Current Constant Current
consolidation consolidation consolidation
scope scope scope
-------------------------------------------------------------------------------
First-quarter
revenue (October
to December) in
m? 135.5 134.5 120.7 -1%
-------------------------------------------------------------------------------
Agricultural
Spraying 65.7 62.9 49.1 -4%
Sugar Beet
Harvesters 12.0 15.3 15.3 28%
Spraying and
Watering for 9.2
Garden 10.1 9.2 -9%
Industrial 47.1
Spraying 47.8 47.1 -1%
-------------------------------------------------------------------------------
*Constant scope = 2015-2016 current scope excluding ET Works acquired in January
2016
Revenue for the first quarter of 2016-2017 (October to December 2016) was ?134
million, identical to the same quarter 2015-2016.
At constant consolidation scope, revenue was ?120.7 million, a drop of ?14.8
million largely due to Agricultural Spraying. As predicted, the recession in
agriculture in France has been severe, while growth was significant in Russia,
Ukraine and Australia.
* Agricultural Spraying
Agricultural spraying in France and the United States remained in the strong
grip of recession during the first quarter. The positive effect from the Macron
Law occurred the previous year. As a consequence, at constant consolidation
scope excluding ET Works (USA) there was a ?16.5 million decline in revenue.
* Sugar Beet Harvesters
Volume here was better than last year, and sales took off largely thanks to
Russia and Ukraine. First-quarter revenue rose ?3.3 million.
The outlook for revenue is better than last year, with the recovery plans in
Russia and Ukraine along with an increase in hectares planted in Europe
following the agreement reached between sugar producers and beet producers.
* Spraying and Watering for Garden
Revenue is in line with the same quarter last year, bearing in mind that the
first quarter generally accounts for 10% of yearly revenue.
This Q1 was devoted to making logistical preparations for new distribution
contracts.
* Industrial Spraying
Revenue is in line with last year, with a large order book that should create
revenue throughout the 2016-2017 fiscal year.
Staff have been working on the merger of Kremlin-Rexson and Sames Technologie,
enabling the new entity to speed development of our Industrial Spraying business
in its various markets.
* Outlook and Strategy
Guerric Ballu, CEO of EXEL Industries Group, noted:
"The first quarter showed the ongoing recession in agricultural spraying in
France and the USA, as well as good performance from the other businesses. Our
subsidiary ET Works has started to benefit from the Group's marketing synergies,
and for the first time sold agricultural self-propelled sprayers in Ukraine,
through the Berthoud Agricole network.
Matrot Equipements and Hardi Evrard have the project to merge, in order to
optimize their manufacturing and customer contact.
Sugar Beet Harvesters have been buoyed by the stimulus programs in Russia and
Ukraine.
The reorganization of Industrial Spraying via merger will increase our synergies
and competitiveness in all markets worldwide, and help us serve our customers
better. This merger will create a leader among the large global companies in
this sector.
All Garden employees are now involved in implementing new distribution
contracts, which will greatly give access to countries in Europe where Hozelock
products were not before, and that will impact the revenue from February
onward.
In line with our growth strategy, we continue to carry out our innovation policy
in all of our business lines, with new products launched on the markets in the
Watering and Gardening activity with the Super Hose and Pice Power, and in the
Industrial Spraying activity with the Infinistream and the electrostatic
chemical conversion for spraying aluminium sheets.
In the agricultural business, all our brands will be represented at the next
SIMA in February 2017, featuring many innovations, including a carbon-fiber
spraying ramp, sprayers by drones, adjustable ground clearance, spraying
equipements for straddle tractors, and fully automatic truck filling for
cleaner loader in the Suger Bettes Harvesters business.
New fiscal year: new basis of comparison
The Annual General Meeting on January 12, 2016 agreed that, from the 2015-2016
fiscal year onwards, the EXEL Industries group's fiscal year would end on
September 30.
This will mean a 13-month fiscal year for 2015-2016. Thus, fiscal year
2016-2017 will begin October 1, 2016 and end September 30, 2017. The quarters
will henceforth be the calendar quarters.
+------------------------+------------------------+
|September 2015 - August |October 2015 - September|
| 2016 | 2016 |
+----------------------------+------------------------+------------------------+
|Annual revenue in m? | 759.2 | 770.8 |
+----------------------------+------------------------+------------------------+
|Agricultural Spraying | 361.4 | 365.7 |
| | | |
|Sugar Beet Harvesters | 108.7 | 116.3 |
| | | |
|Spraying and Watering for | | |
|Garden | 97.6 | 96.9 |
| | | |
|Industrial Spraying | 191.5 | 191.9 |
+----------------------------+------------------------+------------------------+
Next event: Annual Ordinary General Meeting: February 9, 2017
2016-2017 first-half revenue: April 20, 2017
+----------+---------+---------+---------+---------+---------+---------+----------+
|EXEL | | | | | | |2015/2016 |
|Industries|2009/2010|2010/2011|2011/2012|2012/2013|2013/2014|2014/2015| (12 |
| | | | | | | | months) |
+----------+---------+---------+---------+---------+---------+---------+----------+
|Revenue in| | | | | | | |
|millions | 384.4 | 430.1 | 525.3 | 740.2 | 775.4 | 725.2 | 770.8 |
|of euros | | | | | | | |
+----------+---------+---------+---------+---------+---------+---------+----------+
About EXEL Industries: www.exel-industries.com, (at)EXEL_Industries
EXEL Industries' main businesses are agricultural sprayers (world leader) and
industrial spraying. The Group also competes in the consumer watering products
market (European leader) and in sugar beet harvesters (world leader). EXEL
Industries is continually expanding its markets by means of constant innovation
and an international strategy. EXEL Industries employs around 3,750 people
spread over 29 countries on 5 continents.
NYSE-Euronext Paris, SRD Long, CAC Mid&Small 190
EnterNext© PEA-PME 150 index (Ticker EXE / ISIN FR0004527638)
This press release is available in French and English on the website, Facebook
and Twitter.
The SFAF presentation is available at www.exel-industries.com.
YOUR CONTACTS
Guerric Ballu Sylvain Rousseau
Group Chief Executive Officer Group Chief
Financial Officer / Investor Relations
Group Chief Financial Officer/Investor
Relations
Sylvain.Rousseau(at)exel-industries.com
Tel.: + 33 (0)1
71 70 49 50
EI: PR Sales Q1 2016-2017:
https://hugin.info/143456/R/2073185/779208.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EXEL INDUSTRIES via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 24.01.2017 - 18:30 Uhr
Sprache: Deutsch
News-ID 519648
Anzahl Zeichen: 10520
contact information:
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