
Pioneer in low-carbon potting soils
Listing on Euronext Growth® Paris
12 April 2023
Next financial communication
28 July 2023 (after market): 2022/2023 annual revenues

Message from the 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.”
“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%
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%
of sequestered CO2 in the atmosphere
...but only

3%
of the surface of the globe

50%
of the global diversity is in wetlands

47%
of the world's original peatlands have been severely damaged by domestic and mechanical peat extraction
About us
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

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







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

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

Joint Global Coordinators, Associate Lead Arranger and Bookrunner

Legal Advice

Statutory auditor

Statutory auditor

Financial Communication
Documentation
