Floridienne (FLOB) Q1 2025 TU earnings summary

Executive summary

• Sales grew in Q1 2025, led by strong performance in the Life Sciences Division, particularly BIOTROP's success in Brazil.

• Integration of BIOTROP into BioFirst expanded presence in high-potential regions and complemented greenhouse crop activities.

Segment performance

• Life Sciences Division saw increased sales, with BIOTROP achieving significant turnover and profitability growth in Brazil; Natix experienced marked growth from new applications in nutrition, pharmaceuticals, and cosmetics.

• Food Division maintained stable sales compared to a strong Q1 2024, with export development in cold sauces supporting activity; cost control and margin maintenance remain priorities.

• Chemicals Division continued to face pressure from low purified metals prices, impacting SNAM's recycling profitability; capacity expansion investments are ongoing, with new facilities expected in H2 2025; Kimflor showed stability despite macroeconomic volatility.

Market and industry conditions

• Increased competition in North American greenhouse crops is affecting BioFirst's historical profitability.

• Food Division's results are structurally weaker in Q1 due to seasonality tied to year-end festivities.

• Chemicals Division operates in a volatile macroeconomic environment, particularly impacting metal prices and recycling margins.