Graines Voltz (GRVO) H2 2024 earnings summary

Executive summary

• Consolidated sales for 2023/2024 reached €134.4m, a 1% increase year-over-year.

• Recurring operating income rose to €4.0m from €2.4m the previous year.

• Group net profit was a loss of €5.8m, impacted by a €6.6m asset write-down in the nursery segment.

Financial highlights

• Sales: €134.4m, up 1% year-over-year.

• Recurring operating income: €4.0m (3.01% margin), up from €2.4m (1.8% margin) year-over-year.

• Operating income: -€3.0m, down from €2.2m year-over-year.

• Group net profit: -€5.8m, compared to €661k profit last year.

Outlook and guidance

• Order intake remains solid, but caution persists for seed sales due to high customer inventories and adverse weather.

• No sales target provided for 2024/2025 due to market instability.