Fluctuations in foreign exchange rates – the Euro vs. the U.S. and Australian dollars in particular – had a negative impact of €20.5 million ($23.5 million) on Exel Industries reported revenues in its fiscal year to September 2018.

Yet the group still managed to record its second-best figure of €839.1 million ($961 million), despite a fall off in agricultural sprayer and beet harvester sales.

The lower figure for income from sugar beet harvesters of €92.6…