+33 (0) 7 57 81 50 60 florentaise@actifin.fr
Florentaise - CTO

Message from the CEO

Message from Jean-Pascal Chupin, CEO:

“Our low-carbon offering limits the use of peat in professional and mass consumer potting soils, thereby reducing the exploitation of peatlands involving considerable greenhouse gas (GHG) emissions into the atmosphere. Hortifibre® et Turbofibre®, patented Florentaise wood fibres developed using wood chips and tree bark, have a carbon footprint 20 to 50 times smaller than that of the peat used in potting soils (Source Florentaise according to the “Base Carbone©” reference system administered by ADEME).

Our solutions are available for nursery gardeners and horticulturalists and in consumer networks such as Truffaut, M. Bricolage and large supermarkets such as Super U, Casino and Intermarché. They are also part of greening projects in large urban areas such as the Louis Vuitton Foundation, the new Halles Forum in Paris and the upcoming 2024 Olympic Games in Paris.”

Read more

“These many achievements testify to the agronomic qualities of our products in terms of drainage/retention of water, rooting and porosity throughout the crop cycle, at a more advantageous price than soil with a traditional peat mix. In France, we are a major horticultural player with a market share of around 22% in the Consumer segment. Internationally, we are present in six countries, including China, where we already have two production units. Our ambition is to assert ourselves as a global reference for low-carbon potting soils and responsible cultivation materials while supporting the horticultural sector’s transition to sustainable alternatives.

The growth of our two products, Hortifibre® and Turbofibre®, will make it possible to compensate for the end of the exploitation by Florentaise of the last authorised peat bog in France (Baupte, Manche) scheduled in 2026. Given the evolution of the market, we estimate that we will be able to produce all of our peat-free potting soils as early as 2030 (depending on market conditions, the rate of adoption of peat-free potting soils by customers and the applicable regulations). Peat already represents a minor proportion of our supply with only 23% of the material used to produce potting soils. Thus, as of 30 June 2022, 77% of the raw materials used for the production of our potting soils did not contain peat.

Our development is driven on the one hand by a traditional and historical model of direct sales of potting soils in France, as well as in China, and on the other hand by a leasing model of our production facilities to other potting soils manufacturers in Europe and soon in North America. The latest model combining long-term contracts, royalties and maintenance, has already allowed seven machines to be marketed to leading potting soils manufacturers in England and the Netherlands.”

-------------

Peat-free potting soils, why?

60%

60%

Is the fraction of peat in potting soils, which the use is problematic

Peatlands are the Earth’s most effective way of sequestering carbon dioxide know as “carbon sinks”
but today are under threat

33%

33%

of sequestered CO2 in the atmosphere

...but only

3%

3%

of the surface of the globe

50%

50%

of the global diversity is in wetlands

47%

47%

of the world's original peatlands have been severely damaged by domestic and mechanical peat extraction

Why Florentaise,

French leader and world reference in low-carbon potting soils?

A family-owned group with profitable growth

A family-owned group with profitable growth

  • 2021-2022 consolidated revenue of €62.5m (vs. €58,6m at end June 2021 and €43,8m at end June 2020)
  • Operating profit of 4.9% of sales

Patented innovations with high agronomic and environmental performance

Patented innovations with high agronomic and environmental performance

  • Products with agronomic performance equivalent to peat…
  • …that limit GHG emissions: 20 to 50 times less CO2 than peat(⁎)

(⁎) Calculations were carried out by the Company according to the “Base Carbone©” reference system administered by ADEME

Two complementary business models to accelerate growth

Two complementary business models to accelerate growth

  • The international deployment of substrate production units (BIVIS machines) with other potting soil manufacturers, generating recurring rental revenues
  • Continued acceleration of potting soil sales in China in the professional segment (+85.1% CAGR(⁎))

(⁎) CAGR 2020-2022, based on combined sales

A fast-growing global market for potting soils

A fast-growing global market for potting soils(⁎)

  • A global market for potting soils in 2017 multiplied by more than 4 in 2050 to reach €28.3 billion
  • The share of peat in professional potting soils to be halved by 2050

(⁎) Sources: Wageningen University & Research / Business Unit Greenhouse Horticulture (2017) & Company source

Ambition 2027: €120m (consolidated revenue)

Ambition 2027: €120m (consolidated revenue)

  • Consolidated turnover of €120 million, compared with €62.5m at 30 June 2022
  • Ambition of an operating profit margin of 20% of sales compared to 4.9% at 30 June 2022

A pioneer in ecological transition committed to preserving biodiversity and fighting global warming

A pioneer in ecological transition committed to preserving biodiversity and fighting global warming

  • A carbon footprint approach initiated in 2009 (-32% kgCO2e/m3 from 2009 to 2022)
  • Recognised as a Climate Champion by Challenges and the Financial Times

They talk about us

How do we calculate our carbon footprint?

How do we calculate our carbon footprint?

Watch (in French)  
Potting soils Florentaise - Our customers

Potting soils Florentaise - Our customers
Interview with "Pépinière La Forêt"

Watch (in French)  
Interview with Gabriel Rochard from L'Atelier Gabriel

Greening of urban spaces and Florentaise potting soils
Interview with Gabriel Rochard from L'Atelier Gabriel

Watch (in French)  
BFM Bourse
23/03/2023
Climat : le nantais La Florentaise fait son entrée en Bourse (in French)
BFM Bourse
22/03/2023
La folle ascension de Florentaise, l’entreprise familiale qui a fait du terreau de l’or noir (in French)
BFM Bourse
06/03/2023
Spécialiste des terreaux, Florentaise veut s’introduire à la Bourse de Paris (in French)
Journal des entreprises
06/03/2023
Florentaise prépare son entrée en Bourse pour doubler de taille (in French)
Les Echos
06/03/2023
Florentaise accélère pour développer ses terreaux sans tourbe (in French)
La Lettre économique de Bretagne
07/03/2023
Florentaise (Saint-Mars-du-Désert, 44) veut s’introduire en Bourse (in French)
Ouest France
28/04/2022
Loire Atlantique : La Florentaise emballera son terreau dans le papier (in French)

INDICATIVE TIMETABLE FOR THE OPERATION

3 March
2023

AMF approval of the Registration Document
Press release announcing the IPO project

21 March
2023

Approval of the Prospectus by the AMF

22 March
2023

Start of the open-price offering and global placement

4 April
2023

Closing of the open-price offering at 5.00pm Paris time for OTC subscriptions and 8.00pm Paris time for online subscriptions

5 April
2023

Closing of the global placement at 12pm Paris time.
Distribution of the press release indicating the result of the Offering

11 April
2023

Settlement-delivery of the open-price offering and the global placement

12 April
2023

Start of trading on Euronext Growth® Paris
Start of possible stabilisation period

Our partners

Portzamparc

Joint Global Coordinators, Associate Lead Arranger, Bookrunner and Listing sponsor

Gilbert Dupont

Joint Global Coordinators, Associate Lead Arranger and Bookrunner

Jeantet

Legal Advice

KPMG

Statutory auditor

In Extenso

Statutory auditor

Actifin

Financial Communication

Documentation

PDF download
Registration document (in French)
PDF download
Press release – Approval of the registration document
PDF download
Sustainable development report
Téléchargez le PDF
Press release – Florentaise IPO Launch
Téléchargez le PDF
Transaction memorandum (in French)
Téléchargez le PDF
Modalities (in French)
Téléchargez le PDF
Press release – extension of the operation (in French)
Téléchargez le PDF
Press release – Success of the operation
Téléchargez le PDF
Press release – H1 2022-2023 results
Téléchargez le PDF
Q3 2022-2023 revenue
Enter your email address to receive the latest updates on the operation

    Contact
    Actifin
    WE WELCOME YOUR ENQUIRIES