BALYO Announces Sales for the 1St Half of 2023, up +79% to €14.9m - Seite 2

+703%

+307%

Sales
published*

3,873

4,416

8,289

7,228

7,642

14,870

+73%

+79%

* Unaudited data

Sales for the 2^nd quarter and 1^st half of 2023

BALYO recorded sales of €14.9 million in the first half of 2023, up 79% on the first half of 2022. In the second quarter of 2023, the Group recorded sales of €7.6 million, up 73% on the second quarter of 2022.

Evolution of order book

After integrating new orders of €3.3 million in the second quarter of 2023, BALYO's order book¹ stood at €10.3 million at June 30, 2023, compared with €11.0 million for the same period last year. This represents a decline of -6% compared with the first half of 2022, due to a slowdown in business in the United States.

Over the period, BALYO generated 24% of its sales directly, compared with 36% in 2022, a lower level of performance than the Company's ambitions, due in part to client delays.

Highlight: proposed takeover bid by SoftBank Group

At the beginning of June, SoftBank Group initiated a proposed takeover bid to acquire the shares of BALYO. This friendly offer is priced at €0.85 per ordinary share. BALYO complements SoftBank's existing investments in the transport and logistics sectors. The investment will enable SoftBank Group to expand its business in the transportation and mobility sectors, while BALYO will gain access to its partner's global network of over 470 technology-driven companies to develop new business relationships. As part of the SoftBank Group ecosystem, it is expected that BALYO will have the long term security and support to deliver on its direct sales strategy.

In connection with the Offer, SoftBank has agreed to provide interim financing of up to €5 million to BALYO to meet its working capital requirements. This financing will be paid in several drawdowns and structured in the form of convertible bonds issued by BALYO to SoftBank, maturing on October 31, 2024. As a result of softer than expected orders in H1, Balyo requested the issuance of the first tranche of financing on 19 July 2023 for an amount of €1.5 million.