EXEL Industries : Trends unchanged
>Interim results close to our forecast for EBITDA - Exel Industries has reported interim results in line with our expectations for EBITDA. H1 sales already published (cf. our equity flash of 24 April 2024) showed growth of +2% and +2.9% on an organic basis with a major disparity between Q1 (+11%) and Q2 (-2.1%). On this basis, underlying operating profit was € 16.0m (€ 17.5m est.) vs € 15.8m y-o-y (+5.1%) i.e. a stable underlying operating margin at 3.3% (3.5% est.). ...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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