WINFARM : Q3 2024 revenue.
07 November 2024 - 5:45PM
UK Regulatory
WINFARM : Q3 2024 revenue.
PRESS RELEASE
Loudéac, 7 November 2024
Q3 2024 revenue
Farming Supplies: Continued catch-up in sales
despite late harvests
Farming Production: Acceleration of double-digit
sales growth
WINFARM (ISIN: FR0014000P11 - ticker:
ALWF), the number-one French distance seller of goods and
solutions and provider of advisory and other services for the
farming and breeding industry, today reported its revenue for
third-quarter 2024 and the first nine months of the year.
in €m, unaudited |
Q3 2023 |
Q3 2024 |
Chg. |
|
9M 2023 |
9M 2024 |
Chg. |
Farming Supplies |
31.3 |
30.1 |
-3.8% |
|
96.9 |
92.8 |
-4.3% |
Farming Production |
2.9 |
4.3 |
+47.0% |
|
7.6 |
10.6 |
+40.0% |
Other |
0.8 |
0.7 |
-2.0% |
|
1.8 |
1.7 |
-3.6% |
TOTAL |
35.0 |
35.1 |
+0.5% |
|
106.3 |
105.1 |
-1.1% |
WINFARM generated consolidated revenue of €35.1m
in Q3 2024, up 0.5% compared with Q3 2023. The performance marks a
gradual recovery in sales since the second quarter, the first
quarter having been impacted by exceptionally heavy rainfall that
adversely affected seed orders and delayed the planting of corn
plants.
For the first nine months through 30 September
2024, business activity recovered gradually, with a limited decline
of 1.1% compared with 30 September 2023.
The Farming Supplies business,
marketed under the Vital Concept brand, posted revenue of €30.1m in
Q3 2024, down 3.8%. This decline resulted from the delay in corn
harvests. Corn planting was postponed at the beginning of the year
due to adverse weather conditions, which means that sales of
harvesting products will be shifted to Q4 2024.
The division’s business was driven by the
contribution of BTN de Haas (acquired in July 2021), which has
expanded its catalogue with new products in the cattle and pig
ranges, and from sales growth in the equine market, which continues
to trend positively, gaining 8.5% compared with the third quarter
of FY 2023.
The Landscaping business was down 1.6%, with
sales in value terms still impacted by an unfavourable price
effect.
The Farming Production
business, marketed under the Alphatech brand, posted revenue of
€4.3m, up a substantial 47.0% from Q3 2023, pursuing the positive
momentum initiated since the beginning of the year.
At end-September 2024, this business activity,
which contributes more to the Group’s operating margin, accounted
for over 10% of sales, compared with 7% over the same period last
year.
As in the first half of the year, business was
fuelled by the resumed availability of currencies in euros for
exports. Sales in Asia, the Group’s priority business development
region, also grew substantially over the period. Since April 2023,
the new production line has proved decisive for WINFARM, serving to
meet strong demand and boost competitiveness on prices and volumes
in segments where the Group has already forged a robust
reputation.
“Other activities”, which include consulting and
training services, marketed under the Agritech brand, and the
operating activities of the Bel-Orient pilot farm, posted revenue
of €0.7m in Q3 2024, down 2%.
H2 2024 outlook: return to growth and
improvement in EBITDA
WINFARM is moving ahead with its initiatives
aimed at boosting Farming Supplies sales. The Farming Production
business will also continue to benefit from the positive momentum
underpinned by export sales. In the light of these factors, the
Company is confirming its objective of growing business activity in
H2 2024 compared with H2 2023.
The Group continues to apply financial
discipline to contain the increase in operating expenses, which
should serve to increase EBITDA in H2 2024 compared with H1
2024.
Next release:
Full-year 2024 revenue on 30 January 2025, after market.
About WINFARM
Founded in Loudéac, in the heart of
Brittany, at the beginning of the 1990s, the Winfarm group is today
the leading French player offering the agricultural, livestock,
horse-breeding and landscape markets a range of consultancy,
service and distance selling products and global, unique and
integrated solutions to help them meet the new technological,
economic, environmental and social challenges of the new generation
of agriculture.
With a vast catalogue of more than 35,000
product references (seeds, phytosanitary, harvesting products,
etc.), two-thirds of which are marketed under own brands, WINFARM
has more than 45,000 customers in France, Belgium and the
Netherlands.
For more information about the company:
www.winfarm-group.com
Contacts:
WINFARM
investisseurs@winfarm-group.com |
|
ACTIFIN, Financial Communications
Benjamin Lehari
+33 (0) 1 56 88 11 11
Benjamin.lehari@seitosei-actifin.com |
ACTIFIN, Financial Press Relations
Jennifer Jullia
+33 (0)1 56 88 11 19
Jennifer.jullia@seitosei-actifin.com
|
- WINFARM_PR_Sales_Q3_2024_071124_Vdef_EN
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