EXEL Industries: Q2 2025–2026 revenue -12.1%
*LFL (Like-for-like) = at constant consolidation scope and foreign exchange rates
*LFL (Like-for-like) = at constant consolidation scope and foreign exchange rates
Q2 revenue
2025-2026
The EXEL Industries Group generated a €247.2 million revenue in the second quarter of the 2025-2026 fiscal year, a drop of 12.1% compared to the previous year, mainly due to lower volumes in Agricultural Spraying and Industry. At constant scope and foreign exchange rates, revenue dropped by 10.4%.
In the second quarter, the Agricultural Spraying business continued to be hampered by a persistently unfavorable market environment, characterized by ongoing uncertainty in the large-scale crop and viticulture sectors. In Europe, revenue has fell amid widespread caution among operators and distribution networks, which continue to postpone equipment renewals and delay their investments. However, sales of spare parts and services, as well as second-hand machinery, helped to partially offset the impact of the decline in new machinery sales. In North America, the downturn in business, compared to 2025, was less pronounced, following a significant contraction last year, and the region thus remains below its historical levels of activity.
In the second quarter of 2025–2026, revenue was up 8.1%, driven by sales of new machines, particularly in Central Europe.
The Leisure business was broadly stable over the second quarter compared to 2025. Garden activities showed resilience, driven notably by the United Kingdom, although the outlook in continental Europe remains more uneven. The Nautical Industry continued to struggle in an environment where market conditions remained challenging.
In the second quarter, the Industry business saw a decline in activity compared to the previous fiscal year. In a market environment that remains mixed, the company is nevertheless benefiting from robust sales of standard equipment and solutions, notably in North America, while activities linked to major projects remain subdued, as anticipated. The completion of the ERP rollout over the quarter enabled the company to return to a normal pace of order intake without delays. The Technical Hoses business remained solid and stable.
2026 outlook
Daniel Tragus, Chief Executive Officer of the EXEL Industries Group
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