{"id":401505,"date":"2020-12-17T01:03:16","date_gmt":"2020-12-17T06:03:16","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=401505"},"modified":"2020-12-17T01:03:16","modified_gmt":"2020-12-17T06:03:16","slug":"exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\/","title":{"rendered":"EXEL INDUSTRIES :2019-2020 Annual Results  Strong cash flow generation despite the health crisis"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">\n        <strong><br \/>\n          <em>PRESS RELEASE\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 December 17, 2020<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"center\">\n        \n      <\/p>\n<p align=\"center\">\n        <strong>2019-2020 Annual Results<\/strong>\n      <\/p>\n<p align=\"center\">\n        <strong>Strong cash flow generation despite the health crisis<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>\u00a0EXEL Industries group CEO Yves Belegaud said: <\/strong><br \/>\n        <em>\u201cWithin an extremely turbulent context on a general and sanitary stand point, the EXEL Industries group has demonstrated an excellent resilience. Our operational results were slightly higher than last year despite a light decrease of our top line, and the cash flow generation enabled us to cover a significant portion of the iNTEC acquisition cost. Our ability to overcome these periods year after year is underpinned by continuing diversification, which enables us to manage fluctuating business cycles. \u00a0In the future, we will reap the benefits of the operational performance improvement plans and the renewal of our businesses in order to serve our customers. I am particularly proud of the way the teams have been engaged in overcoming this environment, both regarding adherence to precautionary health measures and restructured working patterns as well as our flexibility in adjusting costs, all achieved while the group continued the transformation initiated last year.\u201d<\/em>\n      <\/p>\n<table style=\"border-collapse: collapse;margin-left:92.15pt;width:346pt;border-collapse:collapse\">\n<tr>\n<td rowspan=\"2\" style=\"width:234.67px;text-align: center;vertical-align: middle\">\n            <strong>EXEL Industries (\u20ac millions)<\/strong>\n          <\/td>\n<td style=\"width:113.34px;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Year <\/strong>\n          <\/td>\n<td style=\"width:113.34px;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Year <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:113.34px;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2018-2019<\/strong>\n          <\/td>\n<td style=\"width:113.34px;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2019-2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\n            <strong>SALES<\/strong>\n          <\/td>\n<td style=\"width:113.34px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">776.7<\/td>\n<td style=\"width:113.34px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">754.4<\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\n            <strong>EBITDA<\/strong>\n          <\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">42.1<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">45.4<\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">% of sales<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">5.4%<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">6%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\n            <strong>CURRENT OPERATING INCOME (CURRENT EBIT)<\/strong>\n          <\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">32.8<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">35.3<\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">% of sales<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">4.2%<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">4.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\n            <strong>Non-recurring items<\/strong>\n          <\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">(22.1)<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">(29.9)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\n            <strong>Net financial income\/(expense)<\/strong>\n          <\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">(1.1)<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">(11)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\n            <strong>Tax and share of profit of associates<\/strong>\n          <\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">(5.4)<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">(5)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\n            <strong>NET INCOME\/(LOSS)<\/strong>\n          <\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">4.1<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">(10.7)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">% of sales<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">0.5%<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(1.4%)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\n            <strong>NET FINANCIAL DEBT<\/strong>\n          <\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">(61.1)<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">(87)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\n            <strong>LEVERAGE (NFD\/EBITDA)<\/strong>\n          <\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">1.5<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">1.9<\/td>\n<\/tr>\n<tr>\n<td style=\"width:234.67px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\n            <strong>GEARING (NFD\/shareholders\u2019 equity)<\/strong>\n          <\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">17%<\/td>\n<td style=\"width:113.34px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">25%<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">\n        <strong>SALES<\/strong>\n      <\/p>\n<p align=\"justify\">Following a strong Q4, the EXEL Industries group posted sales of <strong>\u20ac754.4 million<\/strong> for the 2019-2020 fiscal year ended September 30, 2020, down \u20ac22.3 million or 2.9% compared to the previous year. At constant foreign exchange rates and consolidation scope (like for like), sales came to \u20ac729.3 million, down \u20ac47.4 million or 6.1%.<\/p>\n<ul type=\"disc\">\n<li>At <strong>\u20ac332.1 million, Agricultural Spraying<\/strong> posted a fall in sales within a global market affected by the health crisis and persistently low agricultural commodities prices in 2020. In France, where the group generates less than half of its sales, the agricultural equipment market dropped 5%.<\/li>\n<li>The <strong>Sugar Beet Harvester<\/strong> activity posted sales of <strong>\u20ac114.2 million<\/strong>, up slightly from 2019. The market appears to have stabilized over the past two years, at the level to which we adapted our industrial plant in a depressed climate for the sugar industry that has resulted in a 35% decline in business compared to the 2017 peak.<\/li>\n<li>The <strong>Garden Watering and Spraying<\/strong> business, the market for which is averaging 4% annual growth, benefited from the upsurge in enthusiasm of locked-down households and exceptional weather from the end of spring, enabling us to post sales of <strong>\u20ac121.1 million,<\/strong> a five-year high.<\/li>\n<li>The <strong>Industrial Spraying<\/strong> business was impacted by slowdowns in the automotive and aeronautical industries, reflected in a lower demand for wearing parts and the deferral of painting-booth installation projects. The Tricoflex \u201cflexible technical hose\u201d product range was impacted to a much lesser extent. In total, we closed the year with sales of <strong>\u20ac187 million<\/strong> (including \u20ac27.9 million from iNTEC).<\/li>\n<\/ul>\n<p align=\"center\">\n        <strong>RESULTS<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <strong>Reported EBITDA amounted to \u20ac45.4 million (6% of sales), up \u20ac3.3 million<\/strong> compared to 2018-2019. Despite the particularly volatile period we have just been through, our teams galvanized in order to adapt our organization to meet customer demand, which enabled us to maintain our direct margin rate. Meanwhile, we adjusted our fixed cost structure, thereby keeping operating cash flow under control.<\/li>\n<li>\n          <strong>Current operating income (EBIT) up \u20ac2.5 million to \u20ac35.3 million<\/strong>\n        <\/li>\n<li>\n          <strong>Net loss of \u20ac10.7 million, <\/strong>impacted by the following accounting items in particular: <\/p>\n<ul type=\"disc\">\n<li><strong>Non-recurring expenses of \u20ac29.9 million.<\/strong> The highly uncertain macroeconomic environment, related to the health crisis in particular, led us to raise the general risk level taken into account for asset impairment testing. The outcome was a \u20ac26 million goodwill impairment for Agricultural Spraying in addition to \u20ac3.9 million of non-recurring expenses.<\/li>\n<li><strong>A net financial expense of \u20ac11.1 million<\/strong>, mainly due to the impact of closing exchange rates on balance sheet items (\u20ac7.9 million). Last year we recorded a foreign exchange gain of \u20ac2.7 million.<\/li>\n<li>Reported tax amounted to \u20ac5.4 million.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n        \n      <\/p>\n<p align=\"center\">\n        <strong>BALANCE SHEET <\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>Net Financial Debt at September 30, 2020 came to \u20ac87 million, <\/strong>compared to \u20ac61.1 million in 2019. It includes \u20ac67.8 million related to the iNTEC acquisition and the application of IFRS 16, <strong>resulting in cash generation of \u20ac41.9 million <\/strong>over the period.<\/p>\n<p align=\"justify\">\n        <strong>The financial leverage ratio for 2019-2020 (NFD\/EBITDA) remained under control at 1.9<\/strong>. Excluding iNTEC and IFRS 16, leverage was 0.5 compared to 1.5 a year earlier.<\/p>\n<p align=\"justify\">Furthermore, the EXEL Industries group has lines of financing that allow it to support its operating and, where applicable, external growth requirements without incurring a negative long-term impact on its balance sheet structure.\u00a0<\/p>\n<p align=\"center\">\n        <strong><br \/>\n          <em>DIVIDENDS<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">It will be proposed to the Annual General Meeting on February 9, 2021 that no dividend is distributed.<\/p>\n<p align=\"center\">\n        <strong><br \/>\n          <em>AUDIT PROCESS<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">The Group Audit Committee met on December 15, 2020. <br \/>The Board of Directors met on December 16, 2020 and approved the group parent company and consolidated financial statements for the year ended September 30, 2020. <br \/>The Statutory Auditors have finished certifying the parent company and consolidated financial statements and will shortly issue a report without reservations.<\/p>\n<p align=\"center\">\n        <strong>2020-2021 OUTLOOK<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <strong>AGRICULTURAL SPRAYING. <\/strong>The somewhat lackluster agricultural equipment market could be stimulated by more optimistic short-term agricultural price forecasts (wheat, corn) and by government support plans (in France, Australia, the USA and elsewhere). We will also finalize our transformation plan in France, the initial impact of which will be seen in terms of fixed costs and sales momentum.<br \/>\u00a0<\/li>\n<li>\n          <strong>SUGAR BEET HARVESTERS. <\/strong>Current sugar prices and diseases could negatively impact the areas allocated to sugar beet growing and therefore equipment orders. However, sugar beet prices are supported by the producers for the 2020\/21 season. We will also increase our diversification with the development of Terra Variant in France.<br \/>\u00a0<\/li>\n<li>\n          <strong>GARDEN WATERING AND SPRAYING. <\/strong>Strengthening our logistical and industrial capabilities will increase our flexibility in responding to customer demand. We believe that our European production bases are a major advantage for reaching the service levels expected by our distribution networks. The COVID-19 health crisis has forced people to stay at home and has pushed them into doing more gardening. This has resulted in a growing number of gardeners, which should boost the gardening business.<br \/>\u00a0<\/li>\n<li>\n          <strong>INDUSTRIAL SPRAYING.<\/strong> While the automotive sector recovery is expected to be slow, we are continuing to implement the synergies between SAMES KREMLIN and iNTEC. The new products and the strengthening of our commercial organization should help to revitalize Tricoflex.<\/li>\n<\/ul>\n<p align=\"justify\">Moreover, SAMES KREMLIN has announced the development of PRiNTEC\u2122, a range of products and services based on patented printhead technology for paint application. This technology enables unlimited customization for high-speed printing of stripes (horizontal or vertical) and patterns of all kinds on 2D or 3D surfaces. It can also be used to print adhesives and sealants. PRiNTEC\u2122 is targeted at the automotive, rail, aeronautics, furniture, and ceramics markets, among others.\u00a0 Customers benefits range from productivity gains to a significant contribution to preserving the environment.<\/p>\n<p align=\"center\">\n        <strong>Upcoming events<\/strong>\n      <\/p>\n<p align=\"justify\">January 26, 2021 after market closing: Q1 2020-2021 sales. <br \/>February 9, 2021: Annual General Meeting of Shareholders<\/p>\n<p>\n        <em><br \/>\n          <u><br \/>\n            <em>About EXEL Industries:<\/em><br \/>\n          <\/u><br \/>\n        <\/em><br \/>\n        <br \/>\n        <em><br \/>\n          <em>EXEL Industries\u2019 core business is agricultural and industrial spraying. The Group also competes in the consumer watering products market and in sugar beet harvesters. The goal of EXEL Industries is to expand in its markets through a policy of constant innovation and an international growth strategy. EXEL Industries employs approximately 3 544 people spread across 27 countries and five continents.<\/em><br \/>\n        <\/em>\n      <\/p>\n<p>\n        <em><br \/>\n          <em>Euronext Paris, SRD Long only \u2013 compartment B (Mid Cap)<\/em><br \/>\n        <\/em><br \/>\n        <br \/>\n        <em><br \/>\n          <em>EnterNext\u00a9 PEA\u2010PME 150 index (Mnemo EXE \/ ISIN FR0004527638) <\/em><br \/>\n        <\/em>\n      <\/p>\n<p>\n        <em>The SFAF presentation is available at <a href=\"http:\/\/www.exel-industries.com\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.exel-industries.<\/u><\/a>com.<\/em><br \/>\n        <br \/>\n        <em><br \/>\n          <em>This press release is available in French and in English.<\/em><br \/>\n        <\/em>\n      <\/p>\n<table style=\"border-collapse: collapse;border-collapse:collapse\">\n<tr>\n<td style=\"width:358.74px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top\">Yves BELEGAUD<br \/>Group Chief Executive Officer<br \/>Yves.belegaud@exel-industries.com<\/p>\n<\/td>\n<td style=\"width:358.8px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top\">Patrick TRISTANI<br \/>C.F.P.O \/ Investor Relations<br \/>Patrick.tristani@exel-industries.com<\/td>\n<\/tr>\n<\/table>\n<p \/>\n<p>2.13.0.0<\/p>\n<p id=\"gnw_attachments_section-header\">\n        <strong>Attachment<\/strong>\n      <\/p>\n<ul id=\"gnw_attachments_section-items\">\n<li>\n          <a target=\"_blank\" href=\"https:\/\/ml-eu.globenewswire.com\/Resource\/Download\/07f3065e-bb78-4af0-bfd5-0b6e29ee4362\" rel=\"noopener noreferrer\">Exel Industries &#8211; Re\u0301sultats annuels 2020EN defv2<\/a>\n        <\/li>\n<\/ul>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDQ0NjMyNSM0MDA4Mzk0MTkjMTAxMDkwMA==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml-eu.globenewswire.com\/release\/track\/809962b7-97b9-4557-8d90-8516cc4ebd0a\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>PRESS RELEASE\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 December 17, 2020 2019-2020 Annual Results Strong cash flow generation despite the health crisis \u00a0EXEL Industries group CEO Yves Belegaud said: \u201cWithin an extremely turbulent context on a general and sanitary stand point, the EXEL Industries group has demonstrated an excellent resilience. Our operational results were slightly higher than last year despite a light decrease of our top line, and the cash flow generation enabled us to cover a significant portion of the iNTEC acquisition cost. Our ability to overcome these periods year after year is underpinned by continuing diversification, which enables us to manage fluctuating business cycles. \u00a0In the future, we will reap the benefits of the operational performance improvement plans and the renewal of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EXEL INDUSTRIES :2019-2020 Annual Results  Strong cash flow generation despite the health crisis&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-401505","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EXEL INDUSTRIES :2019-2020 Annual Results Strong cash flow generation despite the health crisis - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EXEL INDUSTRIES :2019-2020 Annual Results Strong cash flow generation despite the health crisis - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PRESS RELEASE\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 December 17, 2020 2019-2020 Annual Results Strong cash flow generation despite the health crisis \u00a0EXEL Industries group CEO Yves Belegaud said: \u201cWithin an extremely turbulent context on a general and sanitary stand point, the EXEL Industries group has demonstrated an excellent resilience. Our operational results were slightly higher than last year despite a light decrease of our top line, and the cash flow generation enabled us to cover a significant portion of the iNTEC acquisition cost. Our ability to overcome these periods year after year is underpinned by continuing diversification, which enables us to manage fluctuating business cycles. \u00a0In the future, we will reap the benefits of the operational performance improvement plans and the renewal of &hellip; Continue reading &quot;EXEL INDUSTRIES :2019-2020 Annual Results Strong cash flow generation despite the health crisis&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-17T06:03:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDQ0NjMyNSM0MDA4Mzk0MTkjMTAxMDkwMA==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"EXEL INDUSTRIES :2019-2020 Annual Results Strong cash flow generation despite the health crisis\",\"datePublished\":\"2020-12-17T06:03:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\\\/\"},\"wordCount\":1233,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=MTAwMDQ0NjMyNSM0MDA4Mzk0MTkjMTAxMDkwMA==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\\\/\",\"name\":\"EXEL INDUSTRIES :2019-2020 Annual Results Strong cash flow generation despite the health crisis - 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Our operational results were slightly higher than last year despite a light decrease of our top line, and the cash flow generation enabled us to cover a significant portion of the iNTEC acquisition cost. Our ability to overcome these periods year after year is underpinned by continuing diversification, which enables us to manage fluctuating business cycles. \u00a0In the future, we will reap the benefits of the operational performance improvement plans and the renewal of &hellip; Continue reading \"EXEL INDUSTRIES :2019-2020 Annual Results Strong cash flow generation despite the health crisis\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-17T06:03:16+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDQ0NjMyNSM0MDA4Mzk0MTkjMTAxMDkwMA==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"EXEL INDUSTRIES :2019-2020 Annual Results Strong cash flow generation despite the health crisis","datePublished":"2020-12-17T06:03:16+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\/"},"wordCount":1233,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDQ0NjMyNSM0MDA4Mzk0MTkjMTAxMDkwMA==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/exel-industries-2019-2020-annual-results-strong-cash-flow-generation-despite-the-health-crisis\/","name":"EXEL INDUSTRIES :2019-2020 Annual Results Strong cash flow generation despite the health crisis - 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