BALYO Announces Its Revenues for 2023, up by +10% at €26.7 Million and Q4 Order Intake Growth of +68% to €17.8 Million

Regulatory News:

BALYO (FR0013258399, Ticker: BALYO), technology leader in the design and development of innovative robotic solutions for industrial trucks, today announces its revenues for the year ended December 31, 2023.

Pascal Rialland, CEO of BALYO, says: “We ended the year 2023 with a very strong rebound in our commercial momentum, spurred by a significant order intake in the United States. Overall, we achieved nearly 40% growth in annual order intake and recorded an increase in our revenues of 10% to €26.7 million. Direct Sales accounted for just under two-thirds of orders taken in 2023, in line with our desire to strengthen our commercial autonomy. The last quarter was also marked by the closing of the tender offer by SoftBank Group for the shares of BALYO, now the majority shareholder".

In thousands of euros	Q4 2022	Q4 2023	2022	2023	Change Q4-23/Q4-22	Change 2023/2022
EMEA Region	8,016	4,477	19,133	19,062	-44%	-0%
Americas Region	3,386	1,283	4,581	5,372	-62%	+17%
APAC Region	134	1,078	425	2,233	+708%	+426%
Revenues reported*	11,536	6,838	24,138	26,667	-41%	+10%

*Unaudited data

2023 Q4 activity and revenues

BALYO recorded a 41% decrease in revenues in the fourth quarter of 2023, to €6.8 million, taking full-year 2023 revenues to €26.7 million, up 10% over 2022. The decline in fourth-quarter 2023 revenues in EMEA and the United States can be best explained by an unfavorable base effect. As a reminder, in the fourth quarter of 2022, BALYO benefited on the one hand from the favorable seasonality effect of revenues from the framework contract with Linde, and on the other from a catch-up effect compared with previous quarters.