Voltz Seeds: Revenue Up to €137.9M and Return to Positive Net Income

Financial Performance Overview

Voltz Seeds' consolidated revenue for the 2024-2025 fiscal year was €137.9 million, up from €134.4 million in the previous year, representing a 2.6% increase. On a like-for-like basis, revenue grew by 1.4% to €136.4 million. This growth was uneven across the three geographical areas. In France, which accounts for 65% of the revenue, sales increased by 2.4% to €90 million. Europe, accounting for 30%, saw a more significant increase of 5.2% reaching €41.8 million. The Rest of the World, which makes up 5%, experienced a decline of 9.3% to €6.1 million. In terms of products, seed sales grew by 3.1% to €49.1 million, representing 35.6% of the revenue. Young plants, the dominant segment at 61.7% of revenue, increased by 2.6% to €85.1 million. Supplies and miscellaneous re-invoicing, accounting for 2.7% of the total, decreased by 2.9% to €3.7 million. The current operating income was €3.6 million, down from €4.0 million in the previous year, occurring in a context of margin compression: the gross margin rate decreased by 1.5 points from 53.2% to 51.7%. This significant drop was partially offset by a 2.6% revenue increase and savings on personnel expenses, which had a positive impact of €0.6 million. The group also recorded a seed donation to Ukraine, impacting negatively by €0.9 million, and a reduction in other external charges benefiting by €0.6 million. Conversely, an increase in net provisions had a negative impact of €1.2 million.

Net Income and Financial Health

The group's net income reached €1.6 million, a substantial improvement compared to the €5.8 million loss recorded in the previous year. According to the statement, this was particularly impacted by an impairment of cash-generating units related to the nursery business. Financial expenses decreased by €0.5 million, from €1.9 million to €1.4 million, thanks to improvements in working capital needs and a reduction in interest rates during the fiscal year. Regarding financial structure, the group's equity stood at €68.5 million compared to €66.8 million as of September 30, 2024. Long-term financial debt decreased by €2.8 million to €12.2 million. The long-term debt to equity ratio was 17.7%, down 4.6 points from the previous year. New loans were taken out totaling €5.0 million to refinance 2024 investments and finance those of 2025. Total net financial debt decreased from €46.4 million as of September 30, 2024, to €34.1 million, largely due to an €8.0 million reduction in working capital needs, primarily from an €8.4 million decrease in inventory and work in progress.

Dividend Policy and Future Outlook

The Board of Directors will propose to the General Assembly, which will meet on March 26, 2026, not to distribute a dividend. Hugo Bony, CEO of Voltz, stated during the results announcement: "Even though we are confident about the performance of our business in our major historical markets, we anticipate that the costs associated with the restructuring projects undertaken across our entire scope will continue to weigh on the company's results this year." The group noted that without setting a specific revenue target, it anticipates the negative impact of restructuring costs on the 2025-2026 fiscal year results.