BALYO Announces Its 2022 Half-year Results

Regulatory News:

BALYO (FR0013258399, Ticker: BALYO, PEA-PME eligible) (Paris:BALYO), a technology leader in the design and development of innovative robotic solutions for industrial trucks, today announces its results for the first half of 2022, approved by the Board of Directors on September 21, 2022.

Pascal Rialland, CEO of BALYO, said: “The first half of 2022 is marked by the speed-up of direct sales and increased investments, particularly in sales teams, in order to boost the development of the direct sales channel. 18 months after the start of marketing BALYO solutions in direct sales, the Company must continue to build its commercial and operational independence over the coming months. In 2023, BALYO will be able to rely on a final order commitment from Linde of €11.5 million. After this date, the partnership will remain, but without any hard commitment from Linde as historical partner. With the strong commercial momentum of direct sales, BALYO expects significant growth in its order intake in 2023. In this respect, the Company will disclose early next year its sales and operating profit targets. In the nearer term, revenues for the second half of 2022 should benefit from the commitment of orders from Linde and the growing share of direct sales. As a result, the Company expects a loss slightly higher for the whole 2022 fiscal year compared to the one recorded for the first half of 2022.”

First half 2022 activity

As announced on the occasion of the release of the revenues for the first half of 2022, BALYO reports revenues of €8.3 million, down by -14% compared to the first half of 2021. This decrease is mainly explained by an unfavorable seasonal effect concerning deliveries made to its partner Linde Material Handling. BALYO is expecting a recovery of its revenues in the second half of 2022.

After taking into account new orders for €4.7 million in the second quarter of 2022, the order backlog¹ as of June 30, 2022 amounted to €11 million, compared to €8.8 million as of June 30, 2021, a strong increase (+25%) compared to the first half of 2021. It is also important to highlight that more than 50% of direct orders were generated in the United States.

The United States thus represents now the most important commercial region for BALYO in terms of direct orders.

At the same time, BALYO has also entered into key partnerships during the past six months with leading players. The first one with Bolloré Logistics, with the implementation of BALYO solutions in the Asia-Pacific zone and the support of its partner towards operational excellence. BALYO also signed a contract with Auchan to manage 2,000 of the retailer's pallets within its logistics platform located in the South-East of Paris.