IVRY-SUR-SEINE, France--(BUSINESS WIRE)--Regulatory News:
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BALYO (FR0013258399, Ticker:BALYO, eligible for the PEA-PME plan), a technological leader in the design and development of innovative robotic solutions for material handling trucks, announces its sales revenue today for Q2 and H1 2018.
Fabien Bardinet, Chairman and Chief Executive Officer, stated: “Our sales performance this quarter reached a new record. With a 56% increase in sales revenue over the first six months, our growth has been solid, although slightly behind our half-year target. The ramping up of deliveries of the latest generation of robots was more complex to implement than expected. To correct these delays, we have launched a number of extensive projects which will yield positive results in H2 when we intend to deliver approximately 200 robots. Thanks to the additions to our teams and the continuous progression of the number of installed robots and orders placed, we are confident that we will achieve this year’s goal: an increase of over 80% in sales revenue.”
|In million of euros||2018||2017||Change (%)|
|Q1 sales revenue||4.5||2.1||+116%|
|Q2 sales revenue||5.2||4.1||+25%|
|Total sales revenue||9.7||6.2||+56%|
* Unaudited data
Business activity in the first half of 2018
BALYO’s dynamic performance continued in the second quarter, achieving sales revenue of €5.2 million, a 25% increase compared to Q2 2017. For the first half of 2018, Balyo recorded sales revenue of €9.7 million, a 56% increase compared to H1 2017.
In the first six months of this year, BALYO installed 72 robots, representing a strong rise in the number of installed robots. As at June 30, 2018, 296 were in service, i.e., +96% growth compared to the 151 robots installed as at 30 June 2017. In H2 2018, Balyo targets the delivery of approximately 200 robots.
An order portfolio worth €20.2 million
Taking into account €7.5 million in new orders placed in Q2 2018 - a new record, as the Company did not receive any batch purchase orders this quarter - as at June 30, 2018, orders totaled €20.2 million, a 50% increase over the prior year.
Thanks to the many orders received in Q2 2018, sales reached a new record, exceeding Q3 2017 when the Company recorded a total of €7.8 million in new orders, essentially in the form of batch orders from key accounts. By definition, batch orders (numerous sites for the same customer, most often in different countries) are difficult to forecast from one quarter to another. The Company is currently discussing promising projects for upcoming quarters with a number of key accounts. This robust business activity illustrates the strong customer demand for BALYO’s robotic solutions and the performance of the Company’s industrial partnerships.
Strategy and outlook
Thanks to the reinforcement of its teams, BALYO will continue to deploy its robotic solutions, and announces today that it is currently managing more than 120 projects on three continents for its customers.
In this context, the Company is reaffirming its roadmap to 2022 and the €200 million sales revenue objective for the same period. For 2018, BALYO plans on revenue growth 80% higher than in 2017 along with a reduction in its losses.
Next financial release: 2018 half-year results on September 27, 2018, after close of trading.
BALYO transforms standard forklift trucks into standalone intelligent robots thanks to its breakthrough proprietary Driven by BALYO™ technology. The geoguidance navigation system developed by BALYO allows vehicles equipped with the system to locate their position and navigate autonomously inside buildings. Within the automated handling vehicle market, BALYO has entered into two strategic agreements with Kion Group AG (Linde Material Handling's parent company) and Hyster-Yale Group, two major operators in the material handling sector. BALYO is present in three major geographic regions (Americas, Europe and Asia-Pacific). Its sales revenue reached €16.4 million in 2017. For more information, please visit our website at www.balyo.com.