Strong Improvement in BALYO's Operating Income in the First Half of 2021 - Seite 2

Change

Sales revenue

9.61

8.67

+11%

Cost of sales

-5.50

-8.33

-34%

Gross profit

4.11

0.33

+1,245%

Gross margin rate

43%

4%

-

Research and development

-2.00

-2.39

-16%

Sales and marketing

-1.07

-1.26

-15%

Overheads

-2.64

-3.09

-15%

Share-based payment expense

-0.11

-0.06

-

Operating loss

-1.70

-6.46

-74%

Financial expense

-0.02

-0.24

-92%

Net loss

-1.72

-6.69

-74%

Cash position

6.37

8.72

-27%

Financial results for the first half of 2021

The strong improvement in gross margin, which benefits from a favorable effect related to the recognition of warranty costs for €1.1m in H1 2020 (€0.5m in respect of warranty calls accepted in respect of prior years and €0.6m in respect of a warranty provision for future periods), is mainly explained by the success of the business strategy implemented in recent semesters, whose effects could be observed as early as H2 2020. BALYO is thus enjoying the benefits of the actions implemented to optimize the installation, training and quality control processes. In particular, the switch to the sale of robotic kits has greatly supported this improvement dynamic.