Exail Technologies: future niches to be explored

Photo credit © ECA

(Boursier.com) — Exail Technologies fell more than 3% to 18 euros on Thursday. The group has a new profile since the takeover of iXblue, which makes it less dependent on calls for tenders concerning robotics, underlines Portzamparc in a note. The group achieved 68.2 million euros in revenue in the 1st quarter of 2023, up 8% compared to the 1st quarter of 2022 (63.4 ME) pro forma. 56 ME of orders were won in the 1st quarter, including several strategic contracts. This good level makes it possible to maintain a high order book of 620 ME.

The performance of the 1st quarter allows Exail Technologies to make a good start to the year, which confirms the control of the execution of operations and the trends observed during the last months on our markets. The pace of deliveries should accelerate in the coming quarters thanks to the group’s high order book. Given the usual seasonality of the 1st quarter and major programs, this good performance at the start of the year confirms the group in its growth objectives. Exail Technologies thus confirms its 2023 guidance of revenue growth above +15%.

Portzamparc believes that photonics and inertial units will ramp up, enough to aim for a TP of 26.50 euros and a “Buy” notice.

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