Graines Voltz (GRVO) Q3 2024 TU earnings summary

Executive summary

• Revenue for the first nine months of FY 2023/2024 was €115.4M, a slight decrease of 0.15% year-over-year.

• Third quarter revenue grew 1.4% to €39.5M, indicating a modest recovery in client confidence.

• The company demonstrates resilience despite extraordinary weather and a challenging economic environment.

• Hugo Bony appointed as new CEO effective October 1, 2024, succeeding founder Serge Voltz, who remains Chairman.

Financial highlights

• Nine-month revenue: €115.4M vs. €115.6M year-over-year (-0.15%).

• Q3 revenue: €39.5M, up 1.4% compared to the same quarter last year.

• Young plants accounted for 62% of revenue, seeds for 35%.

Outlook and guidance

• Q4, typically 13% of annual revenue, is expected to confirm overall stability for FY 2023/2024.

• Next financial update scheduled for December 11, 2024, after market close.