Core Insights - WINFARM reported a consolidated revenue of €36.0 million for Q3 2025, marking a +2.6% increase compared to Q3 2024, and a total revenue of €110.5 million for the first nine months of 2025, reflecting a +5.1% growth year-over-year [3][10]. Revenue Breakdown - The Farming Supplies segment generated €31.2 million in Q3 2025, up +3.8%, primarily driven by a 9% increase in the nutrition range, which constitutes 37% of the segment's revenue [5]. - The Farming Production segment saw a decline to €3.9 million in Q3 2025, a decrease of -9.9%, although it recorded a +13.9% increase for the first nine months of 2025 [3][4]. - Other revenue sources increased by +27.7% in Q3 2025, reaching €0.9 million, and +17.2% for the first nine months, totaling €2.1 million [3]. Business Performance - The BTN de Haas subsidiary, acquired in 2021, experienced an 18% sales growth in Q3 2025, benefiting from the ramp-up of products under the Vital Concept brand and expanded geographical reach [6]. - The equine market reported an 11% revenue increase in Q3 2025, with nutrition products making up 63% of this segment's revenue [7]. - The Au Pré! subsidiary showed a strong upward trend with a 9% increase in Q3 2025 compared to Q2 2025 and a remarkable 49% increase compared to Q1 2025 [9]. Future Outlook - WINFARM confirmed its expectations for profitable growth in full-year 2025, supported by an improvement in EBITDA compared to 2024 [10]. - The company plans to continue optimizing costs while maintaining strict investment discipline and managing working capital rigorously to reduce debt gradually [11].

Core Insights - WINFARM reported a consolidated revenue of €36.5 million for Q1 2025, reflecting a growth of +7.9% compared to Q1 2024, indicating strong sales momentum across all activities [3][4][8] Revenue Breakdown - Farming Supplies division, which constitutes 86% of total revenue, achieved €31.5 million in Q1 2025, up +5.3% from €29.9 million in Q1 2024, showing a return to normative activity levels [3][4] - Farming Production business, accounting for 12% of total revenue, saw a significant increase to €4.5 million, marking a +32% rise compared to the previous year, driven by demand in the Middle East and Asia [5] - Other activities, including Agricultural Advice and Agricultural Innovation, remained stable at €0.5 million [6] Growth Drivers - The positive sales trends in the Farming Supplies division are attributed to effective measures taken to revitalize sales momentum and maintain gross margin levels through good price control [4] - The expansion of the Farming Production business is supported by the opening of a subsidiary in Singapore to cater to increasing demand in the Asia-Pacific region [5] Future Outlook - The company is optimistic about continued revenue growth and significant improvement in profitability throughout 2025, building on the strong performance in Q1 [8] - The VITAL brand has increased its market share and revenue by +6%, while EQUIDEOS and BTN de Haas also reported sales growth of +8.8% and +11% respectively, indicating robust positioning in their respective markets [9]