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Exel Industries: 16.1% increase in turnover in the 1st quarter


(CercleFinance.com) – The group achieved revenue of 185.1 million euros in the first quarter of the 2022-2023 financial year, up 16.1%. Sales were mainly driven by organic growth in agricultural equipment. At constant scope and exchange rates, the group grew by 11.8%.

Turnover for the sugar beet harvesting business increased by 10.5%. First quarter sales posted sustained double-digit growth, in line with the fourth quarter of 2021-2022.

On the other hand, the Leisure activity is down 19.3%. The garden equipment market is down in the three main areas where the Group operates (especially in the United Kingdom and, to a lesser extent, in France and Italy).

‘We continue to record a good level of orders, particularly in agricultural equipment. The added value provided by the Group’s products made it possible to adjust selling prices in an environment of highly inflationary labor and energy costs. ‘ declared Yves Belegaud, Managing Director of the Exel Industries group.

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