PARROT

2023 THIRD-QUARTER BUSINESS - Seite 2

Looking beyond the slowdown linked to the general economic climate, the level of business does not reflect the robust commercial development of ANAFI USA, with order renewals received from major clients and particularly defense forces in France, Finland, Belgium and Luxembourg, as well as a significant contribution by various American federal agencies. This is illustrated by the limited contraction of -9% for ANAFI USA sales this quarter. The sustained level of tenders is being supported by the launch of new drone programs in certain countries, with significant ambitions for growth from the first half of 2024.

Photogrammetry business

The photogrammetry business generated €7.1m of revenues, representing 47% of Group revenues (-9% at constant exchange rates). Over the period, in a context in which many sectors are slowing down their investments, sales of the seven most recent business solutions and related accessories were not yet sufficient to offset the gradual downturn in sales of legacy solutions.

Sales are expected to improve in the fourth quarter. In addition, the effective savings measures rolled out are expected to enable operations to break even from the last quarter of 2023.

Outlook

The Group is able to confirm the outlook for 2023 published on October 4, 2023, with full-year consolidated revenues of at least €60m for 2023, compared with €71.9m in 2022, down by around 16%, taking into account the Group’s two business lines (photogrammetry solutions and microdrones).

During the second quarter of 2023, the Group rolled out various measures to reduce its cash consumption pending an expected significant upturn in growth in the first half of 2024.

Next financial date

2023 consolidated earnings: Monday, March 18, 2024 (before the market)

ABOUT THE PARROT GROUP

Parrot is Europe's leading commercial microUAV group. With a strong international presence, the Group designs, develops and markets a complementary range of micro-UAV equipment and image analysis software (photogrammetry) dedicated to companies, large groups and government organizations. Its offer is mainly centered on three vertical markets: (i) Defense and Security, (ii) Inspection, 3D mapping and Geomatics, (iii) and Precision agriculture.

Its ANAFI range of microUAVs, recognized for their performance, robustness and ease of use, features an open source architecture and meets the highest cybersecurity standards. Its Pix4D photogrammetry software suite for mobile and drone mapping is based on advanced technical expertise and offers solutions tailored to the specificities of the verticals it addresses.