The Group posted sales of €200.1 million in the first quarter of the 2023-2024 financial year, up 8.1%, driven mainly by organic growth in beet harvesting and industry.

On a like-for-like basis, Group sales were up 11.0%.

' Of particular note is the excellent performance of the Beet Harvester (+41.3% organic) and the Industrial division (+16.8%)' says Oddo BHF.

' The order book is holding up well, giving good visibility for the 2023-2024 financial year, whatever the brand or geography. Indeed, recent agricultural trade fairs in Europe have helped to maintain order intake over the quarter' says the group.

' Exel Industries achieved a good first quarter on a very high basis of comparison, and is continuing its growth momentum, particularly in the agricultural and industrial sectors. However, given the current macroeconomic conditions, the uncertain geopolitical situation and the downturn in agricultural commodity prices, the Group remains attentive to developments in its markets. said Daniel Tragus, CEO of Exel Industries.

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