WINFARM Reports 9.4% Revenue Growth in Q2 2024 vs 2023
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WINFARM Achieves Impressive Revenue Growth in Q2 2024
WINFARM (ISIN: FR0014000P11 - ticker: ALWF), recognized as the leading French distance seller of agricultural goods and solutions, has announced a notable revenue increase of 9.4% in Q2 2024. This growth comes after a tough first quarter impacted by adverse weather conditions, particularly heavy rainfall that hindered seed orders.
Strong Performance in Farming Supplies
The company generated consolidated revenue of €36.3 million for the quarter, reflecting a catch-up in Farming Supplies sales, which amounted to €32.8 million—a rise of 7.3%. This is especially encouraging given the growth experienced in Q2 2023. This rebound in Farming Supplies is attributed to improved sales momentum after a disappointing beginning to the year.
Factors Driving Growth
Prominent factors contributing to this resurgence include the strategic acquisition of BTN de Haas in 2021, which has expanded the company's offerings under the Vital Concept brand. Furthermore, the Landscaping segment has seen increases in sales volumes following the establishment of new depots in late 2023, although monetary sales were affected by ongoing unfavorable pricing conditions.
Farming Production Shows Significant Increase
Farming Production, under the Alphatech brand, has demonstrated strong performance, with revenues climbing to €6.3 million in Q2 2024, marking a 46.4% increase. The Global Export business—accounting for 30% of this segment's revenue—saw a substantial growth of 49%, supported by favorable currency availability. Sales growth was especially significant in Asia, marking a 42% increase.
Technological Advances and Market Expansion
The commissioning of a new production line in April 2023 has been pivotal in meeting the high demand and enhancing the company's competitiveness in key markets. This move has positioned WINFARM to better serve its growing client base.
Focus on Advisory and Innovation Services
In addition to its core activities, WINFARM is also focusing on its advisory services and innovative agricultural practices. Through its Agritech brand, the company offers consulting services, while its Bel-Orient pilot farm serves as a showcase of technological advancements in agriculture.
Future Outlook and Goals
As WINFARM continues its journey, the company remains committed to aggressive commercial strategies aimed at maintaining its market leadership. Looking ahead, WINFARM has set an ambitious target of reaching a revenue of approximately €200 million by 2025, alongside an EBITDA margin of around 6.5%.
Contact Information
For further inquiries, please reach out to:
WINFARM
Email: investisseurs@winfarm-group.com
ACTIFIN, Financial Communications
Contact: Benjamin Lehari
Phone: +33 (0) 1 56 88 11 11
Email: Benjamin.lehari@seitosei-actifin.com
ACTIFIN, Financial Press Relations
Contact: Jennifer Jullia
Phone: +33 (0) 1 56 88 11 19
Email: Jennifer.jullia@seitosei-actifin.com
Frequently Asked Questions
What was WINFARM's revenue in Q2 2024?
WINFARM reported a revenue of €36.3 million in Q2 2024, which is a 9.4% increase compared to the previous year.
What factors contributed to the revenue growth?
The revenue growth was primarily driven by strong sales in Farming Supplies and Farming Production, recovering from a challenging first quarter.
How much did Farming Supplies revenue increase?
Farming Supplies revenue increased by 7.3% in Q2 2024, totaling €32.8 million.
What is WINFARM's goal for 2025?
WINFARM aims to achieve a revenue target of around €200 million by the year 2025.
What technologies does WINFARM utilize?
WINFARM incorporates advanced agricultural technologies through its advisory services and demonstration farms, showcasing innovative practices in agriculture.
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