Winfarm lists on Euronext Growth Paris

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€ 16.8 MILLION RAISED – MARKET CAPITALISATION OF €67.8 MILLION

Paris  – 9 december 2020 – Euronext today congratulated WINFARM for its listing on Euronext Growth Paris (ticker code: ALWF).

French leader in distance selling for the agricultural sector, WINFARM proposes to farmers and breeders a range of consulting offers, services, distance selling of equipment and solutions to help them meet the new technological, economic, environmental and social challenges of the new generation of agriculture. Founded in Loudéac, in Brittany, in the early 90s, the family business went public to strengthen its position in its historical markets, diversify into new high-potential areas such as the horse and landscape markets and establish itself on a European scale, notably through external growth operations.

WINFARM was listed on 9 december through the admission to trading of the 1,937,303 shares that make up its capital, of which 479,167 new shares were issued as part of a Global Offering[1], before the potential exercise of the over-allotment option. The admission and issue price was set at €35.00 euros per share. Market capitalisation was approximately €67.8 million on the day of listing, and the offering raised a total of €16.8 million. The Offering was equally successful with institutional and individual investors with an overall demand of €23.1 million (€14.5 million from the global placement and €8.6 million from the OPO, through more than 4,200 individual investors), representing an oversubscription rate of 1.6 times.

During the virtual bell ceremony celebrating the IPO of WINFARM, Patrice Etienne, CEO and founder of the company said: “I would like to thank all of our new shareholders, both individuals and institutions, who have shown their confidence in us by contributing to the success of this IPO.  I would also like to warmly thank our employees and our customers who, through their involvement and trust, make Winfarm's success a daily reality. The funds raised provide us with the necessary means to expand our development in France and abroad.  Already the leading player in France in distance selling for the agricultural world, we intend to strengthen our positions, accelerate our diversification and establish ourselves on a European scale. We will achieve this by combining organic growth and acquisitions. Today we are opening a new page in the company's history, so that together we can build tomorrow's successes today.”

20201209 Winfarm Bell Ringing - Photo

Caption: Camille Leca, Euronext’s Chief Operating Officer Listing and Head of Listing in France, rang the bell virtually this morning together with Patrice Etienne, CEO of WINFARM, in order to celebrate the IPO of WINFARM.

About WINFARM Founded in Loudéac, in the heart of the Bretagne, in the beginning of the 90s, WINFARM is today the French leader in distance selling for the agricultural world. WINFARM offers farmers and breeders global, unique and integrated solutions to help them meet the new technological, economic, environmental and social challenges of the new generation of agriculture. With a large catalogue of more than 14,500 references (seeds, hygiene and harvesting products, etc.), two-thirds of which are own brands, WINFARM has more than 41,000 customers in France and Belgium. In 2019, WINFARM recorded sales of €86.8m (+8%) and an adjusted EBITDA margin of 5.6%*. In 2020, the Group expects to maintain its profitable growth trajectory with expected revenue of €97 million, up 12%, and continued solid profitability. By 2025, WINFARM aims to double in size, with a revenue target of around €200 million and an EBITDA margin of around 6.5%.

For more information about the company: www.WINFARM-group.com

* EBITDA restated for costs related to the sponsorship of a cycling team and image rights paid to professional cyclists for an amount of €3.2m in 2019. It should be noted that the sponsorship and image rights contracts expire at the end of 2020.

 

[1] The Global Offering was made up of a Public Offering that included an Open Price Public Offering and a Global Placement with institutional investors in France and other countries.

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