EXEL Industries (EXE) Q1 2026 TU earnings summary

Executive summary

• Q1 2025-2026 revenue declined 17.5% year-over-year to €133.7 million, reflecting challenging and mixed market conditions.

• All business segments reported lower sales, with the steepest drop in Sugar Beet Harvesting.

• Order books show early signs of improvement in Agricultural Spraying and remain strong in Garden and Industry activities.

Financial highlights

• Agricultural Spraying revenue fell 21.1% year-over-year, impacted by a deteriorating agricultural market and cautious investment.

• Sugar Beet Harvesting sales dropped 29.4% due to lower sugar prices and reduced beet acreage.

• Leisure segment revenue decreased 8.8%, though UK sales remained strong.

• Industry segment revenue declined 12.5%, with invoicing delays due to ERP rollout and mixed performance in Technical Hoses.

Outlook and guidance

• Agricultural Spraying order book is slightly better than last year, with US federal support expected to boost demand.

• Sugar Beet Harvesting faces continued caution in Western Europe and the US, but other regions are more resilient.

• Garden activities maintain positive order levels, with notable product recognition in the yacht segment.

• Industry order book remains healthy, with sales expected to catch up in Q2 and improved outlook for Technical Hoses.