DRONE VOLT: DRONE VOLT already exceeds its 2022 turnover at mid-year 2023 – 07/12/2023 at 18:00

Villepinte, July 12, 2023

• Half-year revenue multiplied by 4 to 16.2 million euros;
  

• Strong impact of the largest historical contract signed in February 2023 (12 million euros at the end of June);
  

• Many growth levers for the second half thanks to new offers with high added value;
  

• Confirmation of the annual objective of doubling turnover in 2023.
  

DRONE VOLT, expert in embedded artificial intelligence and manufacturer of professional civilian drones, presents its unaudited turnover for the 1

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semester 2023.

“Our 1

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semester 2023 is in all respects exceptional. We signed a record order which already allows us to exceed the historical turnover that we had achieved over the whole of last year. We have also finalized the development of our new offers, whether Linedrone and the Drone as a Service offer, and we have made a targeted acquisition offering us significant commercial potential as of 2

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half of 2023 for our high value-added FACTORY and SERVICES activities. Finally, we have succeeded in raising two funds which give us the financial serenity necessary for the proper execution of our flight plan. We are therefore very confident for the rest of the year. »

says Marc Courcelle, Managing Director of DRONE VOLT.

Record half-year turnover at 16.2 million euros

The turnover of 1

^er

half of 2023 amounted to 16.2 million euros compared to 4.0 million at the end of June 2022, i.e. a multiplication by 4. The turnover achieved in 6 months exceeds by 18% that achieved over the whole of the 2022 (€13.7 million).

As expected, the half-year revenue reflects the commercial success recorded in February 2023 with the largest order in the history of Drone Volt, at more than 20 million euros in revenue. After only 4 months and despite the supply tensions of the whole industry, Drone Volt has delivered, invoiced, collected and recognized in turnover approximately 12 million euros. The balance should be executed as soon as possible during the 2

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semester 2023.

Note that at 1

^er

half of 2022, Drone Volt had invoiced 550 keuros in royalties under the partnership with the American company Aquiline Drone (the license agreement has not been included in the accounts since June 2022) and integrated, as of January 18, the activities of the Dutch company SKYTOOLS. Like-for-like, business is up 366%.

The cessation of royalty invoicing in the United States explains most of the decline in activity for the DRONE VOLT FACTORY, SERVICES & ACADEMY division, which nevertheless assembled, delivered and invoiced 27 drones during the 1

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half of 2023, including 19 HERCULES 20 bestsellers, compared to 29 in the 1

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semester 2022.

Gross margin rate affected by the product mix

Drone Volt’s gross margin stands at 10% of sales at the end of June 2023 compared to 34% at 1

^er

half of 2022. The difference is due to the evolution of the product mix with growth driven by the distribution activity and the cessation of license fee billings to Aquiline Drones.

Confirmation of the annual objective

Beyond the balance of the historic contract, Drone Volt can count on new growth levers from 2

^th

half of 2023, thanks to the commercial launch of two new breakthrough offers on the professional civilian drone market:

• The LINEDRONE, developed in collaboration with HYDRO-QUEBEC, intended for the complex inspection of high-voltage electricity transmission lines, the first units of which will be delivered during the month of July;

• The “Drone as a Service” pay-as-you-go offer based on billing for use and not for ownership of its unparalleled products. As announced on June 28, Drone Volt signed a first significant contract for its new offer with a first firm period of 12 months which should generate substantial revenue of several hundred thousand euros.

In addition, the integration of the teams of Lorenz Technology, a Danish company specializing in drone inspection and surveillance solutions, since April 2023, makes it possible to finalize the development of a new family of drones which will see the light of day soon and to add new features with high added value, including remote control.

On the strength of these assets, Drone Volt confirms its annual objective of doubling its turnover in 2023 (13.7 million euros in 2022).

Next press release: Results of 1

^er

semester 2023, Wednesday September 13, 2023

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About DRONE VOLT

Created in 2011, DRONE VOLT is an aeronautical manufacturer specialized in professional civilian drones and artificial intelligence. DRONE VOLT is established in France, Benelux, Canada, Denmark, the United States, Switzerland and Indonesia. A global partner, DRONE VOLT offers its customers “turnkey” business solutions including various services and training in drone piloting.

The DRONE VOLT Group, a member of GICAT, achieved a turnover of 13.7 million euros in 2022.

DRONE VOLT notably supplies administrations and manufacturers such as the French Army, the Ministry of the Armed Forces, Engie, Total, Bouygues ES, ADP, the Gendarmerie des Transports Aériens (GTA), international governmental agencies, etc.

DRONE VOLT is qualified as an “Innovative Company” by Bpifrance.

DRONE VOLT is listed on the Euronext Growth market in Paris:

Share: Ticker: ALDRV – ISIN code: FR0013088606 – Eligible: PEA, PEA-PME

Warrant: Ticker: BNBS – ISIN code: FR0014007951

More information on www.dronevolt.com

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