PARROT: 2023 FIRST-QUARTER BUSINESS
PRESS
RELEASE May
11, 2023, 8:00am CET
2023 FIRST-QUARTER
BUSINESS
Consolidated revenue growth of
+16%: Commercial microdrones
+22% - Photogrammetry
+7%
The Parrot group, a European leader
for commercial microdrones,
recorded €16.7m of consolidated revenues for the first quarter of
2023, up 16%.
Sales of commercial microdrones, primarily the
ANAFI for security (ANAFI USA) and inspection (ANAFI Ai), are up
22% to represent 56% of the Group’s revenues. The 11 Pix4D software
solutions focused on image analysis (photogrammetry) for mapping,
inspection, security and precision farming represent 44% of
revenues and are up 7%.
2023 first-quarter business
Since the publication of its 2022 full-year
earnings in March 2023, the Group has two operating segments: the
microdrones business and the photogrammetry business.
REVENUES (€m and % of revenues) |
Q1 20233 months |
Q1 20223 months |
Change |
FY 202212 months |
Commercial microdrones |
9.4 |
56% |
7.7 |
54% |
+22% |
39.2 |
55% |
Photogrammetry |
7.2 |
44% |
6.7 |
46% |
+7% |
32.7 |
45% |
Parrot SA |
0.2 |
- |
0.1 |
- |
- |
0.7 |
- |
Intragroup eliminations |
-0.2 |
- |
-0.1 |
- |
- |
-0.7 |
- |
CONSOLIDATED PARROT GROUP TOTAL |
16.7 |
100% |
14.4 |
100% |
+16% |
71.9 |
100% |
Commercial microdrone
business
The commercial microdrone business recorded
€9.4m of revenues, with full-year growth of 22% (same at constant
exchange rates), driven by the performance of the ANAFI USA for the
security and defense markets.
Various tenders were won and delivered in the
UK, Finland, Sweden, Canada, the United States and Japan,
particularly in terms of border control, police and fire services.
This robust trend is growing stronger as the use of Chinese drones,
with cyber security and transparency standards that have been
called into question, is being forbidden or restricted. Various
companies, particularly in Japan, have also chosen the ANAFI USA
for its performance and security.
The ANAFI Ai, released for sale from the first
quarter of 2022, supported by a gradual promotion strategy, is
continuing to highlight its innovative features in an environment
with stronger competition. Supported by the Tech Days and the
Enterprise Loan Program rolled out internationally, the
pre-commercial phases for assessment by businesses are progressing
and the ANAFI Ai has responded to some initial invitations to
tender in several industries.
Photogrammetry business
The photogrammetry business generated €7.2m of
revenues, with annual growth of 7% (+5% at constant exchange
rates). While the flagship products in the geomatics and mapping
sectors are still the main contributors to revenues, growth is
being driven by sales of the most recent business solutions.
A core pillar for growth in 2023, the marketing
of complementary equipment, launched at the end of 2022 to extend
data collection for photogrammetry to include new mobile devices
(smartphones or tablets), has started up effectively, particularly
for the “public services and infrastructure” markets.
In addition to its constant focus on the
performance of its range of solutions, illustrated by frequent
updates and improvements, the photogrammetry business is further
strengthening its commercial strategy with businesses. Illustrating
this, a new sales team dedicated exclusively to key accounts has
been set up.
Outlook
Parrot is taking action to continue
moving forward with its growth in 2023. This is the Group’s core
focus to gradually and financially balance its operations, while
also adapting its cash consumption to the pace of its
growth.
Parrot is moving forward with a demanding
technological roadmap, focused primarily on automation,
cybersecurity and respect for user data. The expression of its
strengths is reflected in its sales and marketing strategy, which
is supported by solid trends, but with expansion cycles that are
difficult to predict. Indeed:
- For the
commercial microdrones serving the defense and security markets,
the geopolitical situation highlights the need for equipment
ensuring high levels of both performance and security in a context
of increased sovereignty.
- For
industrial sectors, in which microdrones and photogrammetry are
combined, the improvements in terms of productivity, traceability
and security (people, infrastructure and data), and the reduced
carbon footprint (vs. aeronautical or satellite imaging) that they
make possible are being promoted with businesses and major
groups.
- In terms
of photogrammetry solutions, mobile phones, tablets and cameras,
which are widely adopted by users, require the marketing of
specific equipment that must enable these solutions to be used on a
larger scale.
Next financial dates
Parrot’s general shareholders’ meeting: Wednesday June 14,
20232023 first-half business and earnings: Friday July 28, 2023
ABOUT THE PARROT GROUP
Parrot is Europe's leading commercial microUAV
group. With a strong international presence, the Group designs,
develops and markets a complementary range of micro-UAV equipment
and image analysis software (photogrammetry) dedicated to
companies, large groups and government organizations. Its offer is
mainly centered on three vertical markets: (i) Inspection, 3D
mapping and Geomatics, (ii) Defense and Security, and Precision
agriculture.
Its ANAFI range of microUAVs, recognized for
their performance, robustness and ease of use, features an open
source architecture and meets the highest cybersecurity standards.
Its Pix4D photogrammetry software suite for mobile and drone
mapping is based on advanced technical expertise and offers
solutions tailored to the specificities of the verticals it
addresses.
The Parrot Group, founded in 1994 by Henri
Seydoux its Chairman, CEO and main shareholders, designs and
develops its products in Europe, and is headquartered in Paris.
Today, it has over 500 employees worldwide and carries out the vast
majority of its sales internationally. Parrot has been listed on
Euronext Paris since 2006 (FR0004038263 - PARRO). For more
information: www.parrot.com, www.pix4d.com
CONTACTS
Investors,
analysts, financial mediaMarie Calleux - T. : +33 1 48 03 60
60parrot@calyptus.net |
Tech &
corporate mediaJean Miflin - T. : +33 1 48 03 60
60jean.miflin@parrot.com |
- PARROT_CP_T1-2023_20230511_EN_Final
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