Core Insights - EXEL Industries reported a revenue of €983 million for the fiscal year 2024-2025, a decrease of 10.6% compared to the previous year, with a 9.6% reduction at constant scope and foreign exchange rates [3][4] - The Group's recurring EBITDA fell to €67.6 million, representing a margin of 6.9%, primarily due to significant volume reductions in Agricultural Spraying and Sugar Beet Harvesting activities [3][5] - Net income decreased to €16.3 million, impacted by lower current operating income resulting from reduced agricultural activity volumes [3][6] Financial Performance - Revenue breakdown showed a decline in Agricultural Spraying by 19.9% to €403.3 million and Sugar Beet Harvesting by 12.9% to €148.1 million, while Leisure and Industry segments saw slight increases [4][5] - Recurring EBITDA decreased from €87.4 million (7.9% of revenue) in 2023-2024 to €67.6 million (6.9% of revenue) in 2024-2025 [5] - Net financial debt was reduced by approximately €30 million, from €127.8 million in 2024 to €98.3 million in 2025, due to improved cash generation [7] Investment and Future Outlook - The Group maintained a dynamic investment policy, with total CAPEX of €32.6 million, including €20 million for modernizing industrial sites [8] - A dividend of €0.60 per share, representing 25% of consolidated net income, is proposed for approval at the General Meeting on February 4, 2026 [10] - The business climate remains challenging, particularly in Agricultural Spraying and Sugar Beet Harvesting, with expectations of continued slowdown in the early part of the 2025-2026 fiscal year [13][14] Management Commentary - The CEO highlighted the resilience of EXEL Industries' model, emphasizing the ability to adapt to a less buoyant market while maintaining financial discipline and reducing net debt [15]

Core Viewpoint - EXEL Industries reported a decline in revenue and recurring EBITDA for the first half of 2024-2025, primarily due to lower volumes in Agricultural Spraying, while maintaining a focus on debt reduction and cash flow optimization [5][13]. Financial Performance - Revenue for the first half of 2024-2025 was €443.4 million, down 10.0% from €492.7 million in the same period of 2023-2024 [5][6]. - Recurring EBITDA decreased to €20.3 million, representing 4.6% of revenue, compared to 6.2% in the previous year [7][5]. - Net income was €1.5 million, a decline from €4.7 million in the first half of 2023-2024 [7][5]. Debt and Cash Flow Management - The Group's net financial debt improved by €38 million, standing at €174.5 million compared to €212.7 million in the previous year, due to efforts in reducing working capital requirements (WCR) and inventory levels [9][5]. - Despite a negative change in WCR of €30 million, the Group's focus on cash flow generation and debt reduction remains a priority [9][13]. Segment Performance - Agricultural Spraying revenue fell by €53.4 million, or 21.5%, reflecting a significant decline in volumes [4][6]. - Other segments, such as Sugar Beet and Industrial Spraying, showed stable or slight growth, with Sugar Beet revenue remaining relatively unchanged [4][6]. Future Outlook - Order intake in Agricultural Spraying is showing limited visibility but signs of recovery in Europe, while market conditions for Sugar Beet Harvesting remain uncertain [12][15]. - The Group plans to continue aligning production capacities and cost structures with business levels in response to lower volumes [15][12]. Investment and Capex - Capital expenditures (Capex) amounted to €15.6 million, including ongoing construction of a new plant in Stains, France [10].