﻿<?xml version="1.0" encoding="utf-8" standalone="no"?>
<?taxonomy-version 1.0.0.0?>
<?taxonomy-date 2025-01-13?>
<!--This is a generated XML file-->
<link:linkbase xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xml="http://www.w3.org/XML/1998/namespace">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" />
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherExpenseByNature" xlink:label="loc_ifrs-full_OtherExpenseByNature" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OtherExpenseByNature" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Autres charges, par nature</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherExpenseByNature" xlink:to="label_ifrs-full_OtherExpenseByNature" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:label="loc_ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Charges d’impôt autres que les charges d’impôt sur le résultat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:to="label_ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinanceIncomeCost" xlink:label="loc_ifrs-full_FinanceIncomeCost" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_FinanceIncomeCost" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Produits financiers (charges financières)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinanceIncomeCost" xlink:to="label_ifrs-full_FinanceIncomeCost" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="loc_ifrs-full_IncomeTaxExpenseContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncomeTaxExpenseContinuingOperations" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Charge (produit) d’impôt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="label_ifrs-full_IncomeTaxExpenseContinuingOperations" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncontrollingInterests" xlink:label="loc_ifrs-full_NoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NoncontrollingInterests" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Participations ne donnant pas le contrôle</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncontrollingInterests" xlink:to="label_ifrs-full_NoncontrollingInterests" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Flux de trésorerie résultant (utilisés dans le cadre) des activités avant variations du fonds de roulement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:to="label_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInOperatingActivities" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Flux de trésorerie résultant (utilisés dans le cadre) des activités opérationnelles</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="label_ifrs-full_CashFlowsFromUsedInOperatingActivities" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Achat d’immobilisations corporelles, d’immobilisations incorporelles autres que le goodwill, d’immeubles de placement et d’autres actifs non courants</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:to="label_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInInvestingActivities" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Flux de trésorerie résultant (utilisés dans le cadre) d’activités d’investissement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="label_ifrs-full_CashFlowsFromUsedInInvestingActivities" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Dividendes versés, classés dans les activités de financement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:to="label_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Remboursements d’emprunts, classés dans les activités de financement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="label_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Paiements de passifs au titre de contrats de location, classés dans les activités de financement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="label_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInFinancingActivities" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Flux de trésorerie résultant (utilisés dans le cadre) d’activités de financement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="label_ifrs-full_CashFlowsFromUsedInFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:label="loc_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Trésorerie et équivalents de trésorerie si différents de l’état de la situation financière</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:to="label_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition2" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Trésorerie et équivalents de trésorerie si différents de l’état de la situation financière</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:to="label_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition2" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:label="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Augmentation (diminution) de la trésorerie et des équivalents de trésorerie après effet des variations des taux de change</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="label_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_ProfitLossAbstract1" xlink:label="loc_exelindustries_ProfitLossAbstract1" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ProfitLossAbstract1" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Résultat [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ProfitLossAbstract1" xlink:to="label_exelindustries_ProfitLossAbstract1" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_ProfitLossBeforeTaxAbstract" xlink:label="loc_exelindustries_ProfitLossBeforeTaxAbstract" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ProfitLossBeforeTaxAbstract" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Résultat avant impôt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ProfitLossBeforeTaxAbstract" xlink:to="label_exelindustries_ProfitLossBeforeTaxAbstract" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ProfitLossBeforeTaxAbstract2" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Résultat avant impôt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ProfitLossBeforeTaxAbstract" xlink:to="label_exelindustries_ProfitLossBeforeTaxAbstract2" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_ProfitLossFromOperatingActivitiesAbstract" xlink:label="loc_exelindustries_ProfitLossFromOperatingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ProfitLossFromOperatingActivitiesAbstract" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Profits (pertes) d’activités opérationnelles</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ProfitLossFromOperatingActivitiesAbstract" xlink:to="label_exelindustries_ProfitLossFromOperatingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ProfitLossFromOperatingActivitiesAbstract2" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Profits (pertes) d’activités opérationnelles</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ProfitLossFromOperatingActivitiesAbstract" xlink:to="label_exelindustries_ProfitLossFromOperatingActivitiesAbstract2" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_ProfitLossFromOperatingActivitiesAbstract1" xlink:label="loc_exelindustries_ProfitLossFromOperatingActivitiesAbstract1" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ProfitLossFromOperatingActivitiesAbstract1" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Profits (pertes) d’activités opérationnelles</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ProfitLossFromOperatingActivitiesAbstract1" xlink:to="label_exelindustries_ProfitLossFromOperatingActivitiesAbstract1" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ProfitLossFromOperatingActivitiesAbstract12" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Profits (pertes) d’activités opérationnelles</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ProfitLossFromOperatingActivitiesAbstract1" xlink:to="label_exelindustries_ProfitLossFromOperatingActivitiesAbstract12" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_PurchasedConsumingChangesInRawMaterialsAndConsumables" xlink:label="loc_exelindustries_PurchasedConsumingChangesInRawMaterialsAndConsumables" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_PurchasedConsumingChangesInRawMaterialsAndConsumables" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Achats consommés &amp; variation du stock de matières premières et consommables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_PurchasedConsumingChangesInRawMaterialsAndConsumables" xlink:to="label_exelindustries_PurchasedConsumingChangesInRawMaterialsAndConsumables" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_PurchasedConsumingChangesInRawMaterialsAndConsumables2" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Achats consommés &amp; variation du stock de matières premières et consommables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_PurchasedConsumingChangesInRawMaterialsAndConsumables" xlink:to="label_exelindustries_PurchasedConsumingChangesInRawMaterialsAndConsumables2" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_NetAllowancesForProvisionsAndImpairmentOfAssets" xlink:label="loc_exelindustries_NetAllowancesForProvisionsAndImpairmentOfAssets" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_NetAllowancesForProvisionsAndImpairmentOfAssets" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Dotations nettes aux provisions et dépréciations d'actifs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_NetAllowancesForProvisionsAndImpairmentOfAssets" xlink:to="label_exelindustries_NetAllowancesForProvisionsAndImpairmentOfAssets" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_NetAllowancesForProvisionsAndImpairmentOfAssets2" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Dotations nettes aux provisions et dépréciations d'actifs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_NetAllowancesForProvisionsAndImpairmentOfAssets" xlink:to="label_exelindustries_NetAllowancesForProvisionsAndImpairmentOfAssets2" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_ProfitLossFromOrdinaryActivities" xlink:label="loc_exelindustries_ProfitLossFromOrdinaryActivities" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ProfitLossFromOrdinaryActivities" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Résultat d'exploitation courant</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ProfitLossFromOrdinaryActivities" xlink:to="label_exelindustries_ProfitLossFromOrdinaryActivities" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ProfitLossFromOrdinaryActivities2" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Résultat d'exploitation courant</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ProfitLossFromOrdinaryActivities" xlink:to="label_exelindustries_ProfitLossFromOrdinaryActivities2" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_NonRecurringExpenseIncome" xlink:label="loc_exelindustries_NonRecurringExpenseIncome" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_NonRecurringExpenseIncome" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label"> Produits et charges non récurrents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_NonRecurringExpenseIncome" xlink:to="label_exelindustries_NonRecurringExpenseIncome" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_NonRecurringExpenseIncome2" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel"> Produits et charges non récurrents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_NonRecurringExpenseIncome" xlink:to="label_exelindustries_NonRecurringExpenseIncome2" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_FinanceIncomeCostAbstract" xlink:label="loc_exelindustries_FinanceIncomeCostAbstract" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_FinanceIncomeCostAbstract" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Produits financiers (charges financières)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_FinanceIncomeCostAbstract" xlink:to="label_exelindustries_FinanceIncomeCostAbstract" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_CostGainOfNetDebt" xlink:label="loc_exelindustries_CostGainOfNetDebt" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_CostGainOfNetDebt" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Coût (gain) de l’endettement financier net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_CostGainOfNetDebt" xlink:to="label_exelindustries_CostGainOfNetDebt" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_CostGainOfNetDebt2" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Coût (gain) de l’endettement financier net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_CostGainOfNetDebt" xlink:to="label_exelindustries_CostGainOfNetDebt2" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_ComprehensiveIncomeAbstract2" xlink:label="loc_exelindustries_ComprehensiveIncomeAbstract2" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ComprehensiveIncomeAbstract2" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Résultat global</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ComprehensiveIncomeAbstract2" xlink:to="label_exelindustries_ComprehensiveIncomeAbstract2" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ComprehensiveIncomeAbstract22" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total du résultat global</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ComprehensiveIncomeAbstract2" xlink:to="label_exelindustries_ComprehensiveIncomeAbstract22" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_ComprehensiveIncomeAbstract1" xlink:label="loc_exelindustries_ComprehensiveIncomeAbstract1" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ComprehensiveIncomeAbstract1" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Résultat global</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ComprehensiveIncomeAbstract1" xlink:to="label_exelindustries_ComprehensiveIncomeAbstract1" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ComprehensiveIncomeAbstract12" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total du résultat global</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ComprehensiveIncomeAbstract1" xlink:to="label_exelindustries_ComprehensiveIncomeAbstract12" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_EquityAttributableToOwnersOfParentAbstract" xlink:label="loc_exelindustries_EquityAttributableToOwnersOfParentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_EquityAttributableToOwnersOfParentAbstract" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Capitaux propres attribuables aux propriétaires de la société mère</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_EquityAttributableToOwnersOfParentAbstract" xlink:to="label_exelindustries_EquityAttributableToOwnersOfParentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_EquityAttributableToOwnersOfParentAbstract2" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total capitaux propres attribuables aux propriétaires de la société mère</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_EquityAttributableToOwnersOfParentAbstract" xlink:to="label_exelindustries_EquityAttributableToOwnersOfParentAbstract2" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_NoncontrollingInterestsAbstract" xlink:label="loc_exelindustries_NoncontrollingInterestsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_NoncontrollingInterestsAbstract" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Participations ne donnant pas le contrôle</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_NoncontrollingInterestsAbstract" xlink:to="label_exelindustries_NoncontrollingInterestsAbstract" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_ShareOfShareholdersEquityAttributableToNonControllingInterestsShareOfShareholdersEquity" xlink:label="loc_exelindustries_ShareOfShareholdersEquityAttributableToNonControllingInterestsShareOfShareholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ShareOfShareholdersEquityAttributableToNonControllingInterestsShareOfShareholdersEquity" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Quote part de capitaux propres attribuable aux Participations ne donnant pas le contrôle</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ShareOfShareholdersEquityAttributableToNonControllingInterestsShareOfShareholdersEquity" xlink:to="label_exelindustries_ShareOfShareholdersEquityAttributableToNonControllingInterestsShareOfShareholdersEquity" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_ShareOfNetIncomeAttributableToNonControllingInterests" xlink:label="loc_exelindustries_ShareOfNetIncomeAttributableToNonControllingInterests" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ShareOfNetIncomeAttributableToNonControllingInterests" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label"> Quote part de résultat attribuable aux Participations ne donnant pas le contrôle</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ShareOfNetIncomeAttributableToNonControllingInterests" xlink:to="label_exelindustries_ShareOfNetIncomeAttributableToNonControllingInterests" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_LongTermFinancialDebt" xlink:label="loc_exelindustries_LongTermFinancialDebt" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_LongTermFinancialDebt" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Dettes financières à long terme</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_LongTermFinancialDebt" xlink:to="label_exelindustries_LongTermFinancialDebt" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_CurrentPortionOfBoworringsIncludingCurrentLeaseLiabilitiesAndCurrentBankOverdrafts" xlink:label="loc_exelindustries_CurrentPortionOfBoworringsIncludingCurrentLeaseLiabilitiesAndCurrentBankOverdrafts" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_CurrentPortionOfBoworringsIncludingCurrentLeaseLiabilitiesAndCurrentBankOverdrafts" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Part à moins d'un an des emprunts y compris dette courante sur contrat de location et concours bancaires courants</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_CurrentPortionOfBoworringsIncludingCurrentLeaseLiabilitiesAndCurrentBankOverdrafts" xlink:to="label_exelindustries_CurrentPortionOfBoworringsIncludingCurrentLeaseLiabilitiesAndCurrentBankOverdrafts" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_ContractualLiabilitiesAndDeferredIncome" xlink:label="loc_exelindustries_ContractualLiabilitiesAndDeferredIncome" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ContractualLiabilitiesAndDeferredIncome" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Passif sur contrat et produits constatés d'avance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ContractualLiabilitiesAndDeferredIncome" xlink:to="label_exelindustries_ContractualLiabilitiesAndDeferredIncome" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapitalAbstract" xlink:label="loc_exelindustries_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapitalAbstract" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapitalAbstract" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Flux de trésorerie résultant (utilisés dans le cadre) des activités avant variations du fonds de roulement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapitalAbstract" xlink:to="label_exelindustries_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapitalAbstract" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_IncreaseDecreaseInCashRelatedToChangeInOwnership" xlink:label="loc_exelindustries_IncreaseDecreaseInCashRelatedToChangeInOwnership" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_IncreaseDecreaseInCashRelatedToChangeInOwnership" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Augmentation (diminution) de la trésorerie liée aux variations de périmètre</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_IncreaseDecreaseInCashRelatedToChangeInOwnership" xlink:to="label_exelindustries_IncreaseDecreaseInCashRelatedToChangeInOwnership" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_IncreaseDecreaseInCashRelatedToChangeInOwnership2" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Augmentation (diminution) de la trésorerie liée aux variations de périmètre</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_IncreaseDecreaseInCashRelatedToChangeInOwnership" xlink:to="label_exelindustries_IncreaseDecreaseInCashRelatedToChangeInOwnership2" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_ChangeInTreasuryShares" xlink:label="loc_exelindustries_ChangeInTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ChangeInTreasuryShares" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Variation actions auto détenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ChangeInTreasuryShares" xlink:to="label_exelindustries_ChangeInTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ChangeInTreasuryShares2" xml:lang="fr" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Variation actions auto détenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ChangeInTreasuryShares" xlink:to="label_exelindustries_ChangeInTreasuryShares2" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_ChangesInCashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract" xlink:label="loc_exelindustries_ChangesInCashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ChangesInCashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">(Changes in) Trésorerie et équivalents de trésorerie si différents de l’état de la situation financière</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ChangesInCashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract" xlink:to="label_exelindustries_ChangesInCashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_ChangesInCashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract2" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel">(Changes in) Total trésorerie et équivalents de trésorerie si différents de l’état de la situation financière</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_ChangesInCashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract" xlink:to="label_exelindustries_ChangesInCashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract2" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_IncreaseDecreaseThroughChangeInEquityOfSubsidiariesThroughAcquisitionAndDisposalOfSubsidiary" xlink:label="loc_exelindustries_IncreaseDecreaseThroughChangeInEquityOfSubsidiariesThroughAcquisitionAndDisposalOfSubsidiary" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_IncreaseDecreaseThroughChangeInEquityOfSubsidiariesThroughAcquisitionAndDisposalOfSubsidiary" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Variation des parts d'intérêts liées à la prise (perte) de contrôle des filiales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_IncreaseDecreaseThroughChangeInEquityOfSubsidiariesThroughAcquisitionAndDisposalOfSubsidiary" xlink:to="label_exelindustries_IncreaseDecreaseThroughChangeInEquityOfSubsidiariesThroughAcquisitionAndDisposalOfSubsidiary" />
    <link:loc xlink:type="locator" xlink:href="969500M2EFP3ASV8WL56-2024-09-30.xsd#exelindustries_DisclosureOfGlobalTaxMinimum" xlink:label="loc_exelindustries_DisclosureOfGlobalTaxMinimum" />
    <link:label xlink:type="resource" xlink:label="label_exelindustries_DisclosureOfGlobalTaxMinimum" xml:lang="fr" xlink:role="http://www.xbrl.org/2003/role/label">Informations relatives à l'impôt minimum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exelindustries_DisclosureOfGlobalTaxMinimum" xlink:to="label_exelindustries_DisclosureOfGlobalTaxMinimum" />
  </link:labelLink>
</link:linkbase>