WINFARM: Q1 2026 revenue

PRESS RELEASE
Loudéac, 30 April 2026

Q1 2026 revenue

WINFARM (ISIN: FR0014000P11 - ticker: ALWF)- the leading French player in consulting, services and distance-selling of products and solutions for the agricultural and livestock industry, is today publishing its revenue for the first quarter of 2026.

In millions of euros, unaudited	Q1 2025	Q1 2026	Change
Farming Supplies	31.5	31.9	+1.4%
Farming Production	4.5	4.2	-6.6%
Other 1	0.5	0.6	+18.6%
TOTAL	36.5	36.7	+0.6%

WINFARM made consolidated revenue of €36.7 million in the first quarter of 2026, an increase of +0.6%, illustrating the resilience of its activities in an environment marked by unfavourable weather conditions at the start of the year and a demanding comparison base for the Farming Production division.

The Farming Supplies division (87% of total revenue) made revenue of €31.9 million, an increase of +1.4%, fuelled by strong activity in the nutrition segment, a structurally dynamic activity for the Group. Although unfavourable weather conditions impacted sales in January and February, strong sales momentum in hygiene products and livestock equipment and a sharp rebound in March largely offsetting the accumulated lag. Sales in the other segments break down as follows:

• EQUIDEOS: Revenue remained high, in line with the performance of the Nutrition range, and despite already registering a strong 8.8% increase in the first quarter of 2025.
• KABELIS: Sales rose by +8%, confirming a recovery in the market and particularly in public procurement, despite municipal elections taking place, which weighed on decision-making cycles.
• Activity at BTN de Haas in the Netherlands was stable, supported by a good level of activity in March. Of note is the increase in the share of VITAL brand products in total revenue.
  
  

The Farming Production division (11% of total revenue), marketed under the Alphatech brand, made revenue of €4.2 million, a decrease of 6.6% versus a particularly high level in the first quarter of 2025 when revenue grew by +32%. This one-off decline, after double-digit growth in 2025, does not undermine the momentum in this division, the order book for which remains solid for the second quarter. Asia confirmed its role as the main driver of international growth, despite a temporary extension of certain delivery times due to tensions in the Middle East.

Sales by the "Other activities" came to €0.6 million, an increase of +18%, driven by a good sales performance from the dairy processing unit, Au Pré!, the products of which are increasingly appearing on supermarket shelves and are benefiting from the signature of a new distribution contract with a leading retailer.

Outlook for 2026: sustained sales momentum, expected improvement in results

Despite an ongoing volatile environment, activity indicators for April are positive, suggesting a more favourable dynamic over the coming quarters. WINFARM should benefit from a strengthened sales structure, particularly for the 30-year anniversary of the VITAL brand, which will serve as an additional lever supporting the business.

The Group is also maintaining rigorous management of its cost structure while strictly controlling its working capital requirements, with the objective of achieving further EBITDA growth in 2026 together with a further reduction in the Group's debt.

Next release: H1 2026 revenue on 7 September 2026, after market.

About WINFARM

Founded in Loudéac in the heart of Brittany in the early 1990s, the WINFARM Group today is the leading French player in consulting, services and distance selling of global, unique and integrated products and solutions for the agricultural, livestock, horse and landscape markets, helping them to meet the new technological, economic, environmental and social challenges of next-generation agriculture.

With a comprehensive catalogue of more than 35,000 references (seeds, hygiene and harvesting products, etc.), two-thirds of which are own-brand products, WINFARM has more than 45,000 customers in Belgium and the Netherlands.

Find out more about the company at: www.winfarm-group.com

Contacts:

WINFARM [e-mail]
SEITOSEI.ACTIFIN
Investor Relations Benjamin Lehari [phone] [e-mail]	Financial Press Relations Jennifer Jullia [phone] [e-mail]

1 Revenue from Farming Advisory (under the Agritech brand), Farming Innovation (under the Bel Orient brand) and the dairy processing unit (under the Au Pré! brand)