Winfarm: First-half revenue of €76.3 million, up 2.4%
WINFARM published on September 7, 2026 a first-half revenue of €76.3 million, up 2.4% year-on-year. The Breton group, a specialist in distance selling of products and solutions to the agricultural sector, highlights an acceleration of its activity in the second quarter (+4.1%) after a first quarter of +0.6%.
Behind this measured overall pace, the dynamics rest on two distinct drivers: steady growth of the main AgroSupply division and a marked rebound in AgroProduction activity over the last quarter.
An acceleration in Q2 after a moderate start to the fiscal year
In the first half of 2026, WINFARM achieved consolidated revenue of €76.3 million, compared to €74.5 million a year earlier, representing an increase of 2.4%. The second quarter came in at €39.6 million, growing 4.1% compared to the second quarter of 2025, against a 0.6% increase in the first quarter.
The AgroSupply division, which represents 87% of the group's total revenue, generated €66.1 million over the half-year, up 1.5%. This growth stems notably from the Vital Concept private label (+2.4%) and the Kabelis brand in the Landscape segment (+3.6%). The Dutch subsidiary BTN de Haas, for its part, recorded a decline of 1.8% over the half-year, which the group attributes to farm operators' trade-offs in a context of falling costs for certain raw materials in the Netherlands, particularly milk.
AgroProduction rebounds 27.3% in the quarter, driven by Asia
The AgroProduction division, marketed under the Alphatech brand and representing 12% of the group's revenue, shows a rebound of 27.3% in the second quarter after a first quarter marked by an unfavorable base effect. Over the entire half-year, its revenue came to €9.0 million, up 8.8%.
This performance is mainly driven by international development, particularly Asia (+55%), with the ramp-up of the Singapore subsidiary. Bangladesh (+77%) and the Philippines (+76%) recorded the strongest growth rates. Europe (+12%) and North America (+5%) also contributed, offsetting the decline in the Middle East, where business remains affected by the geopolitical context. Other activities, comprising AgriConsulting and AgroInnovation, grew 8.0%, notably driven by the listing of the Au Pré! brand with new retailers, including Grand Frais.
EBITDA growth target confirmed for 2026
For the first half of 2026, WINFARM anticipates an improvement in its gross margin and an increase in EBITDA, as well as operating income close to breakeven for the period. The group presents this performance as a step in its trajectory to restore operating profitability.
For the full year 2026, WINFARM confirms its EBITDA growth target and the continuation of its debt reduction trajectory. The group indicates that the results for the first half of 2026 will be published on October 8, 2026, after market close.
