Exel Industries: 19% decline in 1st quarter sales

(CercleFinance.com) - Exel Industries reports sales of 162 million euros for the first quarter of its 2024-25 financial year, down 19% on a reported basis and 19.
4% on a like-for-like basis, impacted by lower agricultural sales.

Agricultural spraying sales are down by an expected 31.6%, penalized by low volumes and a difficult business climate, while beet harvesting sales are down 29.4%.

The Group is closely monitoring the evolution of its activities, and is adapting its cost structure for the rest of the year", says CEO Daniel Tragus, pointing out that the first quarter is "not very representative due to seasonality".

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