EXEL Industries: revenue for the 4th quarter 2021-2022 + 22.8% – 10/27/2022 at 6:06 p.m.

Turnover

4

e

trimester

202

1

–

20

2

2

:

+

2

2

,8

%

Record organic growth in 4

e

trimester

supported by the

agricultural equipment

*

tcpc = comparable exchange rate and perimeter

Turnover

4

e

quarter 202

1

–

202

2

The EXEL Industries group recorded record sales of

297,

5

millions of euros

in the fourth quarter of fiscal 2021–22, an increase of

2

2

,8

%

, driven both by external factors (scope, changes in exchange rates, particularly of the US dollar), and by internal factors, mainly organic growth in agricultural equipment. At constant scope and exchange rates, the Group is up 14.0%, despite the supply difficulties that persist in its various activities, particularly in agricultural spraying and beetroot.

Resulting from the Group’s two recent acquisitions (EXEL Yachting and GF), the scope effect contributes

5,

2

millions of euros

to revenue this quarter.

• P
  
  

  ULV
  
  

  E
  
  

  AGRICULTURAL RISK
  
  

  +
  
  

  37,
  
  

  8
  
  

  %
  
  

After reaching a peak in the spring of 2022, accentuated by the conflict in Ukraine, the prices of agricultural raw materials fell back slightly during the summer and stabilized at levels which nevertheless remain higher than those prior to the pandemic period. In this context, demand remained strong in all geographies and particularly in North America, even though the shortage of components is not abating.

The exceptionally high order book enabled the Group’s various companies to reduce the seasonality of their business and significantly increase their invoicing volume this quarter.

• BEET HARVESTING
  
  

  +
  
  

  18.9
  
  

  %
  
  

While third quarter activity had been particularly affected by component shortages and a rebound from COVID in Germany, a real catch-up took place this quarter, making it possible to reach a billing record in beet harvester sales.

The garden equipment market is down in the three main regions where the Group operates (United Kingdom, France and Italy). In this environment, and after several difficult quarters (IT migration), activity approached Q4 of the previous year, helped by a less unfavorable basis for comparison than in previous quarters.

EXEL Yachting’s business performed well this quarter, with deliveries in line with forecasts.

At constant scope and exchange rates, activity was stable this quarter: technical hoses and industrial spraying suffered from a slight slowdown in volumes in Europe, offset by the still very strong momentum in Asia and, to a lesser extent , in the USA.

Situation in Ukraine and Russia

The new sanctions announced at the beginning of October do not concern the Group’s products any more than the previous ones. As a reminder, EXEL Industries has maintained its operations in Russia but is vigilant to ensure that deliveries are made in compliance with the international rules in force. The Group was able to maintain overall sales in the region.

Annual sales

2021–2022

The 2021–2022 annual revenue of

9

77

,

0

millions of euros

is up from

11,

4

%

. At constant scope and exchange rates, the Group’s growth was 4.4%. In response to the increase in the cost of raw materials and components, EXEL Industries has endeavored to adjust its prices as best it can in all its activities. Implemented throughout the year, this policy made it possible to compensate for certain drops in volumes linked to shortages (mainly agricultural equipment) or to the market (Garden). The currency effect was particularly favorable to agricultural spraying and industrial activities.

The scope effect represents 29.8 million euros in revenue for the year.

• AGRICULTURAL SPRAY + 16,
  
  

  1
  
  

  %
  
  

Activity was contrasted in agricultural spraying over the financial year: all the Group’s brands were very affected by shortages of components this year, despite very different production bases (Europe, United States). Price increases were passed throughout the year as a result of price increases applied by suppliers. The stabilization of the prices of agricultural raw materials, at generally high levels, has facilitated order intake, allowing the Group to have good visibility over the next financial year.

• BEET HARVESTING
  
  

  +
  
  

  8
  
  

  .0
  
  

  %
  
  

After a rebound in 2020–2021, sales have remained at a good level this fiscal year. In addition, the lack of components facilitated a significant destocking of second-hand machines. Finally, price increases were offset against increases in production costs (steel and other components).

In the garden activity, three elements marked the year. On the one hand, after two exceptional years in terms of volumes, the markets have returned to their pre-COVID levels. On the other hand, the difficulties linked to the migration of IT systems penalized the volumes of this activity, to the tune of around 10 million euros. Price increases were passed during the year to compensate for the significant increases in the cost of raw materials and logistics. Finally, the integration of GF on February 15, 2022 contributes nearly €20 million to annual revenue.

With regard to the nautical activity, a new commercial, marketing and industrial dynamic has been initiated, with expected effects on future exercises.

The underlying markets (mainly automotive, furniture and industry) experienced contrasting trends. However, industrial spraying activity was maintained throughout the year at high volume levels, in line with the 2020–2021 financial year.

The technical pipes division was affected by the decline in volumes in the garden business when, at the same time, the B2B business was impacted at the end of the year by a decline in demand.

Yves Belegaud, Managing Director of

g

group

EXEL

Industries

:

”

The

strong team mobilization

at 4

e

trimester

and the successful integration of the latest acquisitions

license to

reach a

turnover

record

.

This

beautiful

commercial performance was achieved in an environment

difficult and volatile,

even though

shortages are not resolved

.

However

,

I

e

G

roup is confident in

his ability to

continue its development

,

on the strength of the various sectors of activity in which it operates

and an order book

well filled

.

»

Upcoming

appointment

December 20

2022

before trading, annual results 2021–2022.

January 25, 2023

before market, annual turnover from 1

^er

quarter 2022–2023.

To

about

EXEL

Industries

EXEL

Industries

is a French family group whose ambition is to design, manufacture and market capital goods and associated services that enable its customers to improve efficiency, productivity, or contribute to the pleasure of living, and to achieve their environmental and societal goals.

Driven by an innovation strategy since

70

year,

EXEL

Industries

has based its development on innovative ideas in order to offer its customers unique, efficient, competitive and easy-to-use products.

Since its creation, the Group has experienced significant internal and external growth in each of its markets, backed by a stable shareholder base guided by a long-term development strategy.

In 2020–2021,

EXEL

Industries

employs 3

546 permanent employees in 27 countries on 5 continents

and

his

turnover

amounts to

877

millions of euros

.

Euronext Paris, SRD Long only – compartment B (Mid Cap) /

index

EnterNext

© PEA-PME 150 (

Mnemo

EXE / ISIN FR0004527638)

Press release available on the website

www.

EXEL

-industries.com

Attachment

• EXEL Industries_Press release_2022-Q4_FR