Winfarm: Q1 2026 Revenue Hits €36.7M, Up 0.6%
Winfarm recorded a revenue of €36.7M in the first quarter of 2026, marking a 0.6% increase, showcasing resilience in unfavorable weather conditions. However, this overall result conceals diverging trajectories: the AgroSupply division continues its momentum with a 1.4% growth, while AgroProduction experienced a 6.6% decline after a first quarter of 2025 that saw a 32% increase.
AgroSupply Drives Business Amidst Challenging Winter Conditions
The AgroSupply division, accounting for 87% of the consolidated revenue, reported sales of €31.9M, growing by 1.4%. This growth was achieved in a context of unfavorable weather conditions that impacted January and February sales. The division benefited from increased sales in hygiene products and livestock equipment, structurally dynamic segments for the group, along with sustained momentum in the nutrition segment.
A significant rebound in March helped partially offset the delays accumulated during the first two months of the year. This resilience of the main division illustrates the group's ability to maintain its performance in a volatile environment.
AgroProduction Declines After a Strong 2025
The AgroProduction division (Alphatech), representing 11% of total revenue, recorded sales of €4.2M, down by 6.6% compared to the first quarter of 2025. This decline follows an exceptionally high first quarter in 2025, which had seen a 32% increase, reflecting a challenging base effect. According to the group, this temporary contraction does not challenge the dynamics of the division, whose order book for the second quarter remains solid.
Internationally, Asia continues to be the main growth driver, although some delivery delays are observed due to tensions in the Middle East.
Other Activities on the Rise, EBITDA Improvement Expected in 2026
Other activities, including the dairy processing unit Au Pré!, reported an 18% increase reaching €0.6M. This growth is driven by strong commercial performance and the signing of a new distribution contract with a leading retail chain.
For the rest of the year, Winfarm indicates that activity indicators for April are well-oriented, allowing for a more favorable dynamic in the coming quarters, particularly with a strengthened commercial setup on the occasion of the VITAL brand's 30th anniversary. Winfarm maintains its goal of further EBITDA growth in 2026, coupled with continued debt reduction, while maintaining rigorous management of its cost structure and controlled management of its working capital needs.
