Key Takeaways
- Revenue Growth: WINFARM reported a 16.2% increase in H1 2023 revenue, reaching €71.5 million.
- Segment Performance: Farming Supplies saw an 18.8% revenue increase, while Farming Production experienced a 12.6% decrease.
- Acquisition Impact: The Kabelis Group companies and BTN de Haas significantly contributed to the revenue increase in Farming Supplies.
- Market Adaptation: WINFARM maintained stable sales despite market challenges by adapting its pricing and increasing order volumes.
- Strategic Focus: The company has outlined four key priorities to preserve its market position, including offering competitive prices and increasing the average basket size.
- Future Goals: WINFARM aims for an annual revenue of €200 million by 2025 and an EBITDA margin of around 6.5%.
WINFARM, France’s leading distance seller of goods and solutions for the farming and breeding industry, has released its H1 2023 revenue report. The company posted a consolidated revenue of €71.5 million, marking a 16.2% increase compared to H1 2022.
Revenue Breakdown
- Farming Supplies: Revenue increased by 18.8% to €65.6 million. This segment accounts for 92% of the company’s half-year revenue.
- Farming Production: Revenue decreased by 12.6% to €4.8 million, making up 7% of the half-year revenue.
- Other Activities: This category, which includes Farming Advisory and Farming Innovation, saw a 39% increase in sales.
Key Contributors
The increase in Farming Supplies revenue was significantly contributed by the Kabelis Group companies and BTN de Haas, acquisitions made in August 2022 and July 2021, respectively.
Market Challenges
Despite easing selling prices in some markets, WINFARM managed to maintain stable sales through an increase in the number of orders and market share acquisition.
Strategic Priorities for 2023
WINFARM has outlined four key strategic priorities to preserve its market position:
- Offer competitive prices on loss leaders.
- Increase the average basket by offering complementary products.
- Increase order volumes.
- Enhance purchasing by marketing higher-contribution products.
Future Outlook
The company aims to achieve an annual revenue of around €200 million by 2025 and an EBITDA margin of around 6.5%. It plans to continue exploring external growth opportunities to strengthen its European foothold.
Photo by no one cares on Unsplash
