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].