BALYO Publishes Its Results for the First Half of 2020 - Seite 2

-1.26

-3.27

Overhead

-3.09

-3.55

Payments in shares

-0.06

-0.16

Operating loss/gain

-6.46

-7.94

Financial income

-0.24

-0.13

Net profit/loss

-6.69

-8.08

Cash position as of June, 30 2020

8.70

7.99

Activity in the 1^st half of 2020

During the first half of 2020, BALYO generated revenues of €8.7 million, down 29%¹ compared to the same period in 2019. In the second quarter of 2020, the decline in revenues was less significant at 17% compared with Q2 2019.

After taking into account new orders of €7.5 million, the order book at June 30, 2020 was €11.7 million, compared to €15.2 million a year ago.

At the end of July, BALYO also announced the launch of a new generation of reach truck robots (R-MATIC). Designed specifically for the handling and storage of pallets at high heights in racking warehouses, the second generation of reach truck robots integrates differentiating improvements for manufacturers, optimizing their storage space and operating costs.

Regarding the business development, the number of new sales agreements with solution integrators exceeded expectations, with 22 new agreements signed in nine countries over the period, twice its objective and thus paving the way for BALYO's future growth in line with the strategy announced at the beginning of the year.

Financial results for the first half of 2020

The decrease in gross margin to 4% compared to 15% in the first half of 2019 is mainly due to the recognition of warranty costs of €1.1 million (€0.5 million in respect of warranty claims) accepted in respect of prior years and €0.6 million in respect of a warranty provision for future reporting periods.

Operating expenses decreased by 29% (-11% for Research and Development expenses, -62% for Sales and Marketing expenses and -13% for General and Administrative expenses). This change is mainly explained by a decrease in payroll costs related to the reduction in headcount over the period (from 210 at the end of June 2019 to 168 at the end of June 2020) as well as a reduction in travel expenses due to the health context.