BALYO Announces Its Sales for the 1st Quarter of 2024 at €5.2 Million

Regulatory News:

BALYO (FR0013258399, Ticker: BALYO), technology leader in the design and development of innovative robotic solutions for industrial trucks, today announces its sales for the 1^st quarter of 2024.

Pascal Rialland, CEO of BALYO, states: “The first quarter 2024 reflects slower than expected sales momentum and a decline in order intake mainly due to an unfavorable base effect. Indeed, last year Q1 sales were spurred by Linde Material’s commitment, which explains in part the decline of the activity in Europe. However, the Americas and the APAC region remain resilient, bringing the backlog to €19 million in Q1 2024, representing an increase by +35%. Now looking ahead, BALYO will focus on further implementing its commercial ambitions to get back to growth, with emphasis on direct sales in order to ensure its commercial autonomy. Thanks to the shareholder loan obtained from its majority shareholder earlier this year, BALYO now has the financial means to pursue its activity and will maintain very tight control over its costs to preserve its cash position.”

In thousands of euros	Q1 2023	Q1 2024	Change
EMEA Region	5,736	3,235	-44%
Region Americas	1,388	1,591	+15%
APAC Region	104	422	+307%
Sales revenue*	7,228	5,247	-27%

* Unaudited data

Q1 2024 sales and activity

In the first quarter of 2024, BALYO recorded sales at €5.2 million, compared to €7.2 million in Q1 2023, down -27%. This decrease is due to an unfavorable effect on the base comparison. For the record, first quarter 2023 sales had benefited from the commitment order contract with Linde Material Handling. By region, a lower activity is thus observed in the EMEA region over the first quarter 2024, where BALYO generated sales of €3.2 million, a decrease by -44%. Sales in the United States and the APAC region grew by +15% and +307% respectively.