EXEL Industries (EXE) Q2 2025 TU earnings summary

Executive summary

• Q2 2024-2025 revenue declined 3.8% year-over-year to €281.4 million, mainly due to lower volumes in Agricultural Spraying, while other segments were stable or growing.

• Management highlighted resilience in a challenging economic environment, with strong performance in Industry and stable Garden segment sales.

Financial highlights

• Q2 revenue: €281.4 million, down 3.8% year-over-year; like-for-like decline of 4.3%.

• Six-month revenue: €443.4 million, down 10.0% year-over-year.

• Agricultural Spraying Q2 revenue fell 15.7% year-over-year; Sugar Beet Harvesting rose 47.6%; Industry up 7.5%; Leisure nearly flat at -0.1%.

Outlook and guidance

• Agricultural Spraying order intake remains low but shows early signs of recovery in Europe and large-scale crop markets; North America outlook remains uncertain.

• Sugar Beet Harvesting order book is strong, but European market faces declining cultivated areas; North America impacted by weak dollar and high rates.

• Garden segment expected to outperform previous two years, weather permitting; new Wauquiez 55 boat entering demonstration phase.

• Industry sales remain positive in Europe and North America, but US pricing policy creates uncertainty for costs and supply chains.