Core Viewpoint - EXEL Industries Group reported a revenue decline of 10.9% in Q3 2024-2025, primarily due to lower volumes in Agricultural Spraying and foreign exchange impacts from the depreciation of the dollar [3][10]. Revenue Breakdown - Agricultural Spraying: Revenue decreased by €36.7 million (-24.2%) in Q3 compared to the previous year, with significant declines in Australia, North America, and France, while Northern and Central Europe showed slight growth [2][4]. - Sugar Beet Harvesting: Sales fell by €3.3 million (-8.5%), with new machine sales slightly increasing but not compensating for the decline in used machines [2][5]. - Leisure: Revenue increased by €3.9 million (+7.3%), driven by favorable weather conditions, particularly in the United Kingdom [2][6]. - Industry: Sales grew by €1.7 million (+2.3%), supported by strong performance in Systems projects and traditional paint application ranges, with varied geographical performance [2][7]. Nine-Month Sales Overview - Agricultural Spraying: Total sales for the nine-month period were €310.0 million, down €90.1 million (-22.5%) [2]. - Sugar Beet Harvesting: Nine-month sales were €80.2 million, a decrease of €3.2 million (-3.8%) [2]. - Leisure: Revenue reached €118.1 million, an increase of €5.7 million (+5.1%) [2]. - Industry: Sales totaled €217.3 million, up €3.8 million (+1.8%) [2]. - Overall Group Revenue: The total revenue for the nine-month period was €725.5 million, down €83.8 million (-10.4%) [2]. Management Commentary - The CEO noted that the revenue results were in line with expectations, and the company is adapting its cost structure to address the decline in agricultural volumes while maintaining vigilance on tariff policies in North America [10][11]. - The order book has begun to stabilize after two years of decline, indicating potential recovery [11]. Future Outlook - The company anticipates stable sales in Western Europe and growth in North America, contingent on favorable tariff policies [12]. - The modernization of the Stains plant in France is ongoing and expected to be operational by autumn 2025 [12].
EXEL Industries: Q3 2024-2025 revenue down 10.9%