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EXEL INDUSTRIES : EXEL INDUSTRIES :Third quarter 2012-2013 Revenue growth and Acquisitions integration



EXEL INDUSTRIES : EXEL INDUSTRIES :Third quarter 2012-2013 Revenue growth and
                           Acquisitions integration

PRESS RELEASE Paris, June 25, 2013

                                       
 

                           World leader in spraying

                           Third quarter 2012-2013
                 Revenue growth and Acquisitions integration

                                       

At constant scope, the EXEL Industries  Group saw sales growth of 2.4%  during 
the third quarter. Over  the first nine months  of the year, EXEL  Industries' 
consolidated revenue increased by 32.7%, benefitting from acquisitions  during 
2012 and 2013, and a positive first half year in Materials.

                                                    2012-2013
Consolidated data in € million  2011-2012 Constant  Effect of   Current Change
                                           scope   acquisitions  scope
Revenue third quarter (March to   150.2    153.8       62.4      216.2  44.0%
May)
     of which Plant Protection    117.9    119.0       54.2      173.2  46.9%
     of which Materials           32.3      34.8       8.1       43.0   33.2%
Protection
Revenue nine months (September    389.9    403.9      113.5      517.4  32.7%
to May)
     of which Plant Protection    281.1    280.3       93.7      374.0  33.0%
     of which Materials           108.7    123.6       19.8      143.4  31.9%
Protection

  * Plant Protection (72% of consolidated revenue) 

Revenue for Plants increased by 33%, thanks to the acquisitions of Agrifac  in 
July 2012,  Hozelock in  October 2012  and  Holmer in  April 2013.  The  three 
acquisitions generated €93 million in additional revenue.

Over the first nine months and at constant scope, Plant Protection is in  line 
with last year,  thanks to sustained  activity during the  third quarter.  The 
decline in  sales in  Australia and  Northern  Europe was  offset by  the  16% 
progression in sales in  the USA, following the  commercial launch of the  new 
Saritor and Présidio self-propelled sprayers in this market.

The order portfolio remains at a level superior to last year.

  * Materials Protection (28% of consolidated revenue) 

At constant scope,  revenue in  Materials protection progressed  by more  than 
13%, a  good performance  given the  depressed market.  This increase  is  the 
result of significant billing  on the finalization  of automobile projects  in 
Europe and Asia.

The integration of Hozelock-Tricoflex's "industrial technical hoses"  activity 
into Materials  Protection  contributed to  the  31.9% growth  in  revenue  at 
current scope.

In the export market, the Asia zone - which had experienced sustained activity
during the  first half  year -  recorded  a slight  decline during  the  third 
quarter.  However,  activity   has  improved  in   the  Americas  zone   since 
March-April, following a decline during the first half year.

  * Outlook and Strategy 

Mr. Guerric  Ballu,  Chief Executive  Officer  of the  EXEL  Industries  Group 
comments:

"Our revenue has increased strongly due to our recent acquisitions. Outside of
this scope effect, our recurrent activity has grown by 3.5%, thanks to a solid
performance by the  agricultural sector and  significant billing of  important 
projects in the automobile industry. The crisis in the automobile sector  will 
impact the next fiscal  period in particular, in  view of the declining  order 
portfolio compared to last year. In the consumer watering market for Hozelock,
the  cold,  wet  spring  was  not   conducive  to  gardening.  We  have   been 
consolidating our current beet harvester  ranges, Matrot, Moreau and  Agrifac, 
with those  of  Holmer  since  April  2013.  In  addition,  we  are  currently 
undertaking integration and restructuring processes  in our beet activity,  to 
reorganize the business and improve profitability in this difficult sector.  

In a difficult economic  climate, the EXEL Industries  Group has succeeded  in 
increasing revenue, and  the agricultural  spraying activity  has sustained  a 
good level, with wheat prices around €200 per metric ton.

We  managed  the  commercial  launch   of  our  latest  innovations:   Saritor 
self-propelled sprayer on the  U.S. market in  agriculture, the FlexiSpray  on 
watering market  Consumer, and  Accubell  Evo in  the industry  that  received 
innovation price of PSA Peugeot Citroen at their ceremony "Awards Suppliers."

All our teams are fully committed to their action plans and the  strengthening 
of our positions in international  markets, which constitute excellent  growth 
opportunities for the Group."

Next date:Revenue for fourth quarter 2012-2013, on Tuesday October 1, 2013

About EXEL Industries:www.exel-industries.com

 

World specialist  in  precision  spraying techniques  for  agriculture  (world 
leader) and industry (world no.3), EXEL Industries employs around 3,600 people
in 28 countries, over 5 continents.

 

NYSE-Euronext Paris, Compartment B, CAC Mid&Small, CAC Small
(Mnemo EXE / ISIN FR0004527638)

 

 

 

                                           YOUR CONTACTS                     
                                           

Guerric BALLU      Sylvain ROUSSEAU  
Group Chief        Group Financial Director / Investor relations
Executive Officer  Sylvain.Rousseau@exel-industries.com    
                   Tel: + 33 (0)1 71 70 49 50                                
                                                                              
                    

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Source: EXEL INDUSTRIES via Thomson Reuters ONE
HUG#1711481
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