(Boursier.com) — In large volumes, Balyo fell 6.7% to 1.09 euros the day after its annual point. The specialist in robotic handling trucks suitable for all logistics applications reported sales of 6.4 million euros in the 4th quarter of 2021, down -3% year-on-year. It brings 2021 turnover to 21.77 ME, stable compared to 2020 (21.68 ME). After integrating orders for the 4th quarter for an amount of 5.1 ME, the order book stood at 9.5 ME at 31 December (8.2 ME a year ago), an increase of 16%.
In 2022, Balyo should benefit from the structuring and acceleration of direct and indirect sales following the recruitment of additional salespeople initiated at the end of 2021 and the partnerships established in 2021 with leading logistics integrators. Balyo nevertheless remains cautious in the context of longer supply times for certain components. However, the effects should remain limited given the current trend of improvement in the situation.
Oddo BHF evokes a publication in line with its expectations and maintains an ‘outperformance’ opinion in a medium-term logic. The valuation stands at 1.6x in EV/CA 2022 in a pallet automation sector which remains attractive, as evidenced by the fundraising this week of the company Vecna Robotics ($60M raised in series C – size and positioning close to Balyo).
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