Exel Industries : A financial year without organic growth – Expected upturn in profitability
>Q1 2019-20 sales publication - FY 2019-20 has started with a 9.6% decline in sales to € 119.4m in Q1 (€ 133m estimated) vs € 132.1m, i.e. an organic contraction of 10.3%. The main lag relative to our estimates came from industrial spraying, with sales of € 40.5m (€ 50.3m estimated), down by 18.6% (-19.4% on an organic basis). The other activities posted sales close to our estimates, with a still marked decline for the beet harvester business (-10.8% and -11.9% on an ...EXEL Industries designs and manufactures precision spraying equipment that it markets to three markets: farming, industry and consumers. Co. organizes its operations into two divisions: Plant Protection (manufactures professional, semi-professional and consumer agricultural spraying equipment for plant protection; plant health products sprayed include herbicides, insecticides, fungicides, liquid fertilizers and other products) and Material Protection (supply of material protection products in two different areas: paint and viscous industrial product application equipment; and elimination of dust and odors).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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