EXEL Industries Reports 19% Decline in Q1 Sales for 2024-2025

EXEL Industries announced a 19% decrease in first-quarter revenue for the 2024-2025 fiscal year, totaling €162.0 million. Agricultural sales, notably in spraying and sugar beet harvesting, significantly impacted results. Agricultural Spraying sales fell by 31.6%, following two exceptional years. The downturn was observed across key regions, including Europe, North America, and Australia. Meanwhile, Sugar Beet Harvesting saw a 29.4% drop due to timing issues from the previous fiscal year.

In contrast, the Leisure sector experienced a 16.3% increase, with strong sales in France and the UK. Industry revenues were relatively stable, showing only a minor decline of 4.5%, primarily in Asia. The company remains cautious due to the end of a strong period, with Agriculture's trajectory seen as reaching a low point potentially improving.