Business

This Breton company does not know the crisis

Vital concept surfs on success.
Vital concept surfs on success. ©The Independent Courier

The board of directors of the concept group Winfarm/Vital, champion of mail order sales aimed at the agricultural world, approved the consolidated accounts closed on June 30, 2022. And the least we can say is that in a difficult economic context, the company born and based in Loudéac is doing more than just holding on.

The favorable evolution of sales during the period includes the price increases recorded by the Group in order to cope with the increase in purchase prices, as well as the maintenance of good commercial dynamics. Within this division, the Nutrition family under the Vital Concept brand grew by more than 15% in the first half of 2022 and contributed to the division’s overall growth of 67%.

And the trend is likely to continue in the coming months. The current dry spell is likely to encourage farmers to supplement forage in the coming months, boosting the outlook for the coming months.

All sectors green

The equine and landscape diversification markets are still very well oriented with their sales up +17% and +22% respectively

The Agronutrition activities (9% of the half-yearly turnover), marketed under the Alphatech brand, recorded a turnover of € 5.5 million, a strong increase of +14%.

The commitment of an aggressive commercial conquest plan, supported by the reinforcement of commercial resources and teams, is beginning to pay off, with a significant increase in sales in the Middle East, a priority area for the Group’s development .

A good health

As of June 30, 2022, the company recorded equity of €23.1 million, compared to €22.7 million as of December 31, 2021 for financial debt of €29.6 million.

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Winfarm should also benefit from the acquisition of Kabelis Group companies in the second half. The Landscaping and Green Spaces activity should therefore represent an annual turnover of almost €21 million. This structuring acquisition spawned a French champion in one of the most thriving markets, making it the

major player in Brittany, Normandy and Pays-de-Loire.

In the Agronutrition business, the efforts made in the second half should be continued. The Group’s ambition in this activity is to widen the gap with the competition by promoting the quality of its products to a discerning customer base looking for quality solutions.

In the longer term, the Group reiterates its targets of achieving a turnover of approximately EUR 200 million by 2025.

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