(Boursier.com) — Thanks to a 47% increase in turnover in the 3rd quarter of 2022, the cumulative sales of Drone Volt at the end of September 2022 reached a record level of nearly 8 million euros, an increase of +26% over 1 year.
This performance is all the more remarkable since, as announced when the half-year results were published, 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 5 points of revenue growth over the first 9 months of 2022. In this context, Drone Volt is studying the opportunity to depreciate part of the fixed assets held in its accounts relating to this partnership (no significant current assets to date). This accounting operation would have no impact on the Group’s cash flow, which would still rely on shareholders’ equity well above €20 million.
Drone Volt thus more than offset the impact of the development of this partnership on the activities of Drone Volt Factory, Services & Academy (down 48%) by accelerating the distribution of third-party brands (+86%). This strategy demonstrates Drone Volt’s ability to expand its customer base in Europe, in particular thanks to the successful integration of the Dutch company Skytools, which has contributed 600 kE since the beginning of 2022.
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.
Favorable business outlook for 2022 and 2023
Given the good momentum observed at the end of September and the commercial contacts in progress, Drone Volt anticipates a favorable end to the year and double-digit growth in its annual turnover (8.6 ME in 2021).
This trend is fueled in particular by the very good feedback from the last trade fairs where Drone Volt exhibited its solutions.
Beyond that, Drone Volt is preparing for fiscal year 2023, which will see the commercial launch of the Linedrone developed in collaboration with Hydro-Quebec. This drone, unique in its kind, is intended for the complex inspection of high voltage electricity transmission lines.
Drone Volt intends in particular to rely on its unparalleled products to deploy its ‘Drone as a Service’ offer for use by invoicing the use and not the possession of its products. This strategy will facilitate commercial deployment, by replacing the significant investment for the customer by a cost largely covered by the resulting profits. For Drone Volt, it is also a major extra-financial commitment, by limiting the number of drones produced through shared use by several customers.
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