Report
Jean-François Granjon

Exel Industries : Interim earnings down as expected but goodwill impairment booked

>Interim results release - Exel Industries reported H1 2019-20 broadly in line at the underlying operating profit level although in negative territory. The underlying operating loss reached -€ 1.1m (+€ 0.7m estimated) vs € 5m, with sales down 9.9% and 11.7% on an organic basis. Group earnings were significantly impacted by goodwill impairment of € 26m and forex losses of € 4.4m. All told, the group reported a net loss of -€ 36.4m (-€ 0.5m estimated) vs +€ 1.2m. §...
Underlying
EXEL Industries SA

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).

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Jean-François Granjon

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