|Consolidated data in M€||2014 - 2015||2015 - 2016||2015-2016||Change at Constant Scope||2015 - 2016||Change|
|Comparable Period Current Scope||Comparable Period Constant Scope*|
|3 months||3 months: June 2016 to August 2016||4 months: June 2016 to September 2016|
|4th quarter revenue||228.8||209.3||194.4||-15.0%||269.3||17.7%|
|Sugar Beet Harvesters||76.3||58.0||58.0||-24.0%||76.2||-0.1%|
|Spraying and Watering for Garden||30.5||26.2||26.2||-14.1%||29.2||-4.4%|
|12 months||12 months: September 2015 to August 2016||13 months: September 2015 to September 2016|
|Sugar Beet Harvesters||137.0||108.7||108.7||-20.6%||126.9||-7.4%|
|Spraying and Watering for Garden||104.9||97.6||97.6||-6.9%||100.6||-4.1%|
For the four-month 4th quarter, EXEL Industries group revenue came to €269.3 m. In comparison with last year, with a three-month last quarter at constant scope, revenue was €194.4m, or 15% down compared with last year.
- Agricultural Spraying
- Sugar Beet Harvesters
- Spraying and Watering for Garden
- Industrial Spraying
- Outlook and Strategy
This year our revenue was €819.3m over a fiscal year extended to 13 months following a change to the end of year date. The industrial precision spraying solutions business is doing well, but we note that sales of sugar beet harvesters are down. In France, the effect of the Macron Act has been to increase sales of agricultural sprayers on a one-off basis but this masks the ongoing economic difficulty. The volume of activity in the US agricultural machines market has remained low. Our US company, ET Works, which we acquired in January 2016, will benefit from the recovery expected in 2017 and from the launch of new products.2016 harvests were not good in France although they were good in the large production areas worldwide which has prevented cereal prices from rising. French farmers are experiencing a drop in their income and will therefore delay their decisions to invest in agricultural equipment. At the beginning of this new fiscal year, our French subsidiaries' order books are very low and, as of now, they are taking measures to modify the amount of production working time. In Europe and the rest of the world, the situation has not declined to such an extent. In Russia and Ukraine, there is even a positive trend. The launch of the "Rubicon" self-propelled sprayer manufactured in France has been very successful in Australia. Our companies continue to show their dynamism. Hardi Evrard, for example, has just beaten the world spraying record with 136 hectares in one hour. In the Spraying and Watering for Garden business, we have concluded an exclusive distribution agreement for HOZELOCK R brand watering products in all of the Kingfisher group's outlets in Europe, including B&Q, Castorama, Bricodepôt, and Screwfix. This strategic agreement will provide improved visibility for the Hozelock brand and for new products such as the SuperHoze extendable hose and Pico Power, the powerful and compact high pressure washer...
Industrial Spraying has completed several projects that will generate revenue in 2017. In order to continue their development, our Kremlin-Rexson and Sames Technologies subsidiaries are going to merge, creating a global player in industrial precision spraying solutions.New fiscal year: new basis of comparison The General Meeting on January 12, 2016 agreed that, from the 2015-2016 fiscal year onwards, the EXEL Industries group's fiscal year would end on September 30. This involves a 13-month fiscal year in 2015-2016. The 2016-2017 fiscal year will therefore commence on October 1, 2016 and, henceforth, the quarters will be calendar quarters. Taking account of this new closing date for the financial statements, the pro-forma 2015-2016 revenue, which will be the basis of comparison for the next fiscal year was €770.9m, including €46.5m of scoping impact.
|Old base||New base|
|Sept 15-Aout 16||Oct 15-Sept 16|
|Sugar Beet Harvesters||108.7||116.3|
|Spraying and Watering for Garden||97.6||96.9|
|EXEL Industries||2009/2010||2010/2011||2011/2012||2012/2013||2013/2014||2014/2015||2015/2016 13 months|
|Sales in M€||384.4||430.1||525.3||740.2||775.4||725.2||819.3|