PARROT

2023 FIRST-QUARTER BUSINESS

        PRESS RELEASE
        May 11, 2023, 8:00am CET

2023 FIRST-QUARTER BUSINESS

Consolidated revenue growth of +16%:
Commercial microdrones +22% - Photogrammetry +7%

The Parrot group, a European leader for commercial microdrones, recorded €16.7m of consolidated revenues for the first quarter of 2023, up 16%.

Sales of commercial microdrones, primarily the ANAFI for security (ANAFI USA) and inspection (ANAFI Ai), are up 22% to represent 56% of the Group’s revenues. The 11 Pix4D software solutions focused on image analysis (photogrammetry) for mapping, inspection, security and precision farming represent 44% of revenues and are up 7%.

2023 first-quarter business

Since the publication of its 2022 full-year earnings in March 2023, the Group has two operating segments: the microdrones business and the photogrammetry business.

REVENUES (€m and % of revenues)	Q1 2023 3 months		Q1 2022 3 months		Change	FY 2022 12 months
Commercial microdrones	9.4	56%	7.7	54%	+22%	39.2	55%
Photogrammetry	7.2	44%	6.7	46%	+7%	32.7	45%
Parrot SA	0.2	-	0.1	-	-	0.7	-
Intragroup eliminations	-0.2	-	-0.1	-	-	-0.7	-
CONSOLIDATED PARROT GROUP TOTAL	16.7	100%	14.4	100%	+16%	71.9	100%

Commercial microdrone business

The commercial microdrone business recorded €9.4m of revenues, with full-year growth of 22% (same at constant exchange rates), driven by the performance of the ANAFI USA for the security and defense markets.

Various tenders were won and delivered in the UK, Finland, Sweden, Canada, the United States and Japan, particularly in terms of border control, police and fire services. This robust trend is growing stronger as the use of Chinese drones, with cyber security and transparency standards that have been called into question, is being forbidden or restricted. Various companies, particularly in Japan, have also chosen the ANAFI USA for its performance and security.