DRONE VOLT: Record 2022 revenue, up 53%, well above the latest targets – 01/18/2023 at 18:00

Villepinte, January 18, 2023

• Annual turnover of 13.4 million euros, for a target of more than 10 million euros;
  

• Successful diversification of the customer portfolio in Europe after the successful integration of Skytools;
  

• Gross margin impacted in the short term by changes in the product mix before the ramp-up in sales of DRONE VOLT products and services to new customers;
  

• Ambition to improve the product mix in 2023 with in particular the commercial launch of LINEDRONE
  [1]
  and the development of the “Drone as a Service” offer.
  

DRONE VOLT, expert in embedded artificial intelligence and manufacturer of professional civilian drones, presents its 2022 annual turnover.

[1]

Figures including the contribution of the Dutch company SKYTOOLS since January 18, 2022.

“We had an exceptional end to the year commercially and above all I would like to congratulate the teams who worked tirelessly until the last day. We have taken a step forward in our development with a turnover well above 10 million euros, which nevertheless constituted an ambitious objective. This performance is all the more remarkable as we have stopped invoicing licensing services to our partner in North America.

Thanks to an enriched customer base, a reinforced geographic network and a range of products and services that will expand considerably in 2023 with the commercial launches of LINEDRONE and our ramp-up in the Drone as a Service offer. »

says Marc Courcelle, Managing Director of DRONE VOLT.

Record turnover, up +53%

2022 annual revenue reached a record level of 13.4 million euros, up +53% year-on-year. This volume of business, significantly higher than the two-digit growth target, set during the year, and the threshold of 10 million euros, targeted from last November.

This performance is due to a very good end to the year, illustrated by a fourth quarter up by +126%, at 5.4 million euros.

DRONE VOLT thus demonstrates its ability to expand its customer base in Europe, in particular thanks to the successful integration of the Dutch company SKYTOOLS, which contributed 1,084 keuros in 2022. This success boosted the performance of the Third-Party Brands division, which saw its billings multiplied by 2.3, to reach 11.7 million euros. This commercial conquest makes it possible to address new customers who, tomorrow, will be natural candidates for the Group’s value-added product and service offerings.

At the same time, as announced upon publication of the half-year results, DRONE VOLT suspended the invoicing of production licenses to its American partner and concentrated the agreement on the distribution of the HERCULES 20 in the United States. This strategic decision cost 8 points of growth in turnover for the year 2022. The evolution of this partnership has directly impacted the volume of activity of DRONE VOLT FACTORY, SERVICES & ACADEMY, down 53% annually.

In this context, DRONE VOLT confirms its desire, already announced, to depreciate the assets held in its accounts relating to this partnership (12 million euros as of June 30, 2022). This accounting operation will have no impact on the Group’s cash position, which will still rely on shareholders’ equity well in excess of 20 million euros.

Stability of the gross margin, impacted by the short-term evolution of the product mix

Taking into account the evolution of the product-mix in the short term, marked by a greater share of Third-Party Brand sales, the consolidated gross margin is globally stable, at 2.8 million euros, but reveals a deteriorated margin rate of 14 points, at 21% of turnover.

The analysis of the gross margin by activity gives grounds for satisfaction and potential for the future. The Third-Party Brands sales margin remained relatively stable (16%) and within the industry norm, while the margin for DRONE VOLT FACTORY, SERVICES & ACADEMY activities increased by 4 points, to 61% of sales. ‘business.

The challenge for the 2023 financial year will be to gradually switch new customers, conquered by the Third-Party Brand activity, towards the product and service offers developed by DRONE VOLT.

Tailwinds for 2023

As such, several studies and demonstrations of the catalog’s flagship products, such as the HERCULES 20 range and the HELIPLANE are underway with recently won over customers and prospects, in Europe and North America.

Beyond that, 2023 will be a special year for DRONE VOLT, which will commercially launch two new breakthrough offers on the professional civilian drone market:

• The LINEDRONE, developed in collaboration with HYDRO-QUEBEC and intended for the complex inspection of high voltage electricity transmission lines. After the success of the last validation tests in real conditions, DRONE VOLT has just produced the first 4 units and plans to start the demonstration campaigns from this 1
  
  ^er
  
  quarter ;

• The “Drone as a Service” pay-as-you-go offer based on billing for use and not for ownership of its unparalleled products. This strategy will facilitate commercial deployment, by replacing the significant investment for the customer by a cost largely covered by the resulting profits.

These new offers also marked an important step for DRONE VOLT in the field of extra-financial commitments (ESG) with a reinforcement of the security of customer missions (LINEDRONE) and the shared use of drones for several customers (Drone as a Service).

In this context, DRONE VOLT is aiming for a significant improvement in its product mix.

Next press release: Results for the 2022 financial year, Wednesday March 15, 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 13.3 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.PA – ISIN code: FR0013088606 – Eligible: PEA, PEA-PME

Warrant: Ticker: BNBS.PA – ISIN code: FR0014007951

More information on www.dronevolt.com

contacts:

[1]

Drone intended for the complex inspection of high voltage electricity transmission lines. It detects energy losses in an electrical network in order to accurately determine maintenance needs.

[2]

Figures including the contribution of the Dutch company SKYTOOLS since January 18, 2022.

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