2020 THIRD-QUARTER BUSINESS Paris Inventory Change:PARRO

  PRESS RELEASE
Paris, November 18, 2020, 8am CET

2020 THIRD-QUARTER BUSINESS

Industrial drone growth technique persevering with to maneuver ahead

For the third quarter of 2020, the Parrot Group is reporting consolidated revenues of €14.3m, down 20% year-on-year and up 13% in contrast with the second quarter of 2020, which was most affected by the measures geared toward slowing the coronavirus pandemic. Consolidated revenues for the primary 9 months of 2020 totaled €40.8m, with the year-on-year contraction decreased to -29% in contrast with -33% on the finish of the primary half of 2020; this pattern stays linked to the lower in gross sales of shopper merchandise and the gradual transformation of the product combine to give attention to industrial drones, focusing on stronger margins.

Revenues for drone information analytics and metrics software program (Pix4D), with negligible impacts from the well being disaster, recorded 4% year-on-year progress within the third quarter of 2020, supported by the enlargement of the providing with the launch of a number of enterprise options firstly of the yr (Pix4Dreact, Pix4Dsurvey, Pix4Dinspect, and many others.). This subsidiary represents 40% of the Group’s consolidated revenues and doesn’t devour any money.

The event of the micro-drone enterprise (Parrot Drones) continues to replicate the repositioning round larger value-added industrial drones. The contraction in revenues is linked completely to the decrease stage of shopper drone gross sales, whereas industrial drones achieved gross sales progress, each within the third quarter and over 9 months, pushed by the ANAFI Thermal and ANAFI SE (Safety Version). Revenues additionally embody an quantity for transfer-costing R&D (€2.1m at September 30, 2020, +17% from September 30, 2019), in keeping with the financing of growth initiatives for micro-drone tenders for the armed forces and legislation enforcement sectors launched in 2018 and 2019. A number of responses are anticipated earlier than the top of 2020, significantly in France with the French authorities protection procurement and know-how company (DGA) and in america for the Division of Protection’s SRR program.

With gross sales traits affected by the drop in enterprise funding ranges within the context of the well being disaster, gross sales of fixed-wing industrial drones (senseFly) are near their stage from the primary quarter of 2020 (Q1: €3.4m – Q2: €1.8m – Q3: €3.1m). The influence on earnings is proscribed because of strict management over prices. Agricultural sensors (MicaSense) are following the identical traits.

Following the most recent spherical of lockdowns throughout Europe, the Group has additional strengthened its preparations for employees to make money working from home and its groups stay firmly targeted on implementing the roadmap by way of R&D, in addition to gross sales and advertising operations for industrial markets, and growth within the Protection and Safety sector. The Group’s success in these areas is anticipated to pave the way in which for a return to progress.

PARROT GROUP REVENUES

€m and % of revenues Q3 2019 Q3 2020 Change 2019
9 months
2020
9 months
Change
PARROT GROUP(1) 17.8 100% 14.3 100% -20% 57.5 100% 40.8 100% -29%
  Microdrones (Parrot Drones) 7.0 39% 4.3 30% -39% 23.7 41% 12.4 30% -48%
    Of which, legacy shopper merchandise(2) 2.4 14% 1.1 8% -54% 9.3 23% 4.1 10% -57%
  Software program (Pix4D) 5.6 31% 5.8 40% +4% 16.6 28% 16.3 41% +2%
  Mounted-wing drones (senseFly) 3.6 20% 3.1 22% -15% 11.7 20% 8.4 21% -29%
  Sensors (MicaSense) 1.6 9% 1.2 9% -23% 5.9 10% 4.0 10% -32%
  Parrot SA 0.5 3% 0.1 0% -87% 1.2 2% 0.2 1% -83%
  Intragroup eliminations -0.5 -3% -0.2 -1%   -1.9 -3% -0.8 -2%  
                       

(1) The whole determine for the 9 months of 2019 for “Parrot Group” included €0.6m for the enterprise of Airinov, which was stopped in 2019.
(2) Legacy shopper merchandise: earlier drone ranges (Bebop, Disco, Mini Drones), automotive merchandise (automobile equipment, plug & play) and linked units.
N.B. The choice efficiency indicator “Drone Revenues” is now not related as a result of the enterprise items shut down in 2019 now not have any influence at this stage on 2020 revenues.

Subsequent monetary date

  • 2020 full-year earnings: Friday March 19, 2021 earlier than begin of buying and selling

ABOUT PARROT

Based in 1994 by Henri Seydoux, Parrot is as we speak the main European group within the fast-growing business of drones. Visionary, on the forefront of innovation, Parrot is positioned throughout your complete worth chain, from tools to providers and software program. Its micro-drones, well-known for his or her excessive efficiency and ease of use, handle the wants of pros in addition to customers. The Group additionally has a portfolio of excellent firms and pursuits in industrial drones, masking tools, software program and providers. Its professional capabilities are targeted totally on three vertical markets: (i) 3D Mapping, Surveying and Inspection, (ii) Protection and Safety and (iii) Agriculture.

The Parrot Group designs and engineers its merchandise in Europe, primarily in France and Switzerland. It presently employs over 500 folks worldwide and makes nearly all of its gross sales outdoors of France. Parrot, headquartered in Paris, has been listed since 2006 on Euronext Paris (FR0004038263 – PARRO). Monetary info is offered on http://company.parrot.com. For extra info go to: www.parrot.com and its subsidiaries www.pix4d.com, www.sensefly.com, www.micasense.com.

CONTACTS

Buyers, analysts, monetary media
Marie Calleux – T. : +33(0) 1 48 03 60 60
parrot@calyptus.web
Client and tech media
Cecilia Hage – T. : +33(0) 1 48 03 60 60
cecilia.hage@parrot.com
  • Parrot_CP_T3-2020_11-18_EN_DEF

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