PARROT

2023 THIRD-QUARTER BUSINESS

        PRESS RELEASE
        November 16, 2023, 8:00am CET

2023 THIRD-QUARTER BUSINESS

The Parrot group, European leader for professional microdrones, recorded €15.1m of consolidated revenues in the third quarter of 2023, down -31% from the third quarter of 2022, which represented a high basis for comparison. For the first nine months of 2023, consolidated revenues show a year-on-year contraction of -11%. This level of business is in line with the guidance published on October 4, 2023, following deferrals of significant microdrone equipment orders or deliveries to the first half of 2024.

REVENUES (€m and % of revenues)	Q3 2023 3 months		Q3 2022* 3 months		Change	9 months 2023	9 months 2022	Change
Professional microdrones	8.0	53%	13.9	63%	-42%	23.5	29.3	-20%
Photogrammetry	7.1	47%	8.1	37%	-11%	23.3	23.2	+1%
Parrot SA	0.2	-	0.3	-		0.4	0.6	-
Intragroup eliminations	-0.2	-	-0.3	-		-0.5	-0.6	-
TOTAL CONSOLIDATED REVENUES	15.1	100%	21.9	100%	-31%	46.7	52.4	-11%

* Q3 2022 revenues also included €0.5m generated by the legacy consumer products.

Professional microdrones business

The professional microdrones business generated €8.0m of revenues, representing 53% of Group revenues (-42% at constant exchange rates). Revenues for the third quarter of 2022 included significant deliveries for defense and security institutions, as well as €0.5m of legacy consumer product sales and €1.1m of non-recurring controller sales.