BALYO Announces Its Sales for the 1st Quarter of 2024 at €5.2 Million - Seite 2

In the first quarter of 2024, order intake declined by -79%, reaching €1.9 million, compared to €8.9 million in Q1 2023. After integrating new orders, the backlog sets at €19 million as of March 31, 2024, up +35% over March 31, 2023. The geographical breakdown shows substantial growth both in the United States (+132%) and the APAC region (+239%).

Financial position and outlook

On March 31, 2024, BALYO’s cash position stood at €3.5 million, compared to €8.6 million as of December 31, 2023. This cash position corresponds to the cash and cash equivalents item in the consolidated financial statements.

Over the course of the first quarter, BALYO successfully secured a Shareholder Loan with SoftBank Group, its indirect majority shareholder, for a total amount of up to €12 million, which has been signed on March 21, 2024. This loan, which may be repaid by offsetting of receivables as part of a capital increase, is subject to covenants on revenue and operating cash-flow that will be audited every quarter.

Regarding its cash position and after taking into account the remaining convertible bonds issuances with SoftBank Group (of €2 million), the postponement of payment deadlines to end of 2024 granted to BALYO by one of its main suppliers (a time period depending on orders received during the financial year which may be postponed beyond this deadline), the record of a $7.8 million order intake, which generated a down payment of 50% of this amount end of 2023, and the shareholder loan granted by SoftBank Group, BALYO has now the necessary financial means to fund its activities until at least the end of 2024.

Given these factors, BALYO will focus on working in the rebound of its commercial momentum in 2024, by leveraging on its model based on direct sales, while maintaining very tight control over its costs to preserve its cash position.

Annual General Meeting: June 13, 2024

Next BALYO financial announcement: first half 2024 sales revenue, on July 18, 2024 after market closing.

About BALYO

Humans around the World deserve enriching and creative jobs. At BALYO, we believe that pallet movements in DC and manufacturing sites should be left to fully autonomous robots. To execute this ambition, BALYO transforms standard forklifts into intelligent robots thanks to its breakthrough Driven by Balyo technology. Our leading geo guidance navigation system enables robots to locate their position and navigate autonomously inside buildings - without the need for any additional infrastructure. To accelerate the material handling market conversion to autonomy, BALYO has entered into two global partnerships with KION (Fenwick-Linde's parent company) and Hyster-Yale Group. A full range of globally available robots has been developed for virtually all traditional warehousing applications; Tractor, Pallet, Stackers, Reach and VNA-robots. BALYO and its subsidiaries in Boston and Singapore serve clients in the Americas, Europe and Asia-Pacific. The company has been listed on EURONEXT since 2017 and its sales revenue reached €26.7 million in 2023. For more information, visit www.balyo.com.