Balyo Announces Its Sales Revenue to September 30, 2019, up +20%, and +15% After Restatement1

  • Order intake of €4.0 million in the third quarter
  • Backlog2 of €13.7 million at September 30, 2019
  • Appointment of Benoît de la Motte as Chief Financial Officer

IVRY-SUR-SEINE, France--()--Regulatory News:

BALYO (FR0013258399, Ticker: BALYO, eligible for PEA-PME savings schemes) (Paris:BALYO), a technological leader in the design and development of innovative robotic solutions for material handling trucks, today announces its sales revenue for the first nine months and third quarter to September 30, 2019.

Fabien Bardinet, Chairman and Chief Executive Officer, says:BALYO has recorded a 20% increase in sales revenue before IFRS restatement, associated with the backlog level at the start of the year. Our growth remains limited by a slowdown in the sales momentum in 2019, reflecting temporary difficulties in the deployment of certain projects. These difficulties are the subject of targeted action plans jointly undertaken by BALYO’s teams and partners. We firmly believe that the means implemented with the support of our industrial partners, BALYO’s technological leadership and the unwavering commitment of the teams will ensure a rapid recovery in order growth. Within this framework, we are delighted to welcome our new Chief Financial Officer Benoît de la Motte, whose arrival will enable us to accelerate the Company’s industrial transformation”.

In thousands of
euros

Q3 2018

Q3 2019

9M 2018

9M 2019

Change
9M-19/9M-18

EMEA region

4,342

3,798

12,473

12,529

-

Americas region

723

923

1,432

3,345

+134%

APAC region

(84)

775

784

1,767

+125%

Sales revenue

4,981

5,497

14,689

17,640

+20%

IFRS2 BSA charge

0

(47)

0

(739)

Na

Reported sales revenue*

4,981

5,450

14,689

16,901

+15%

* Unaudited data

Q3 2019 activity

BALYO recorded sales revenue of €5.5 million in the third quarter of 2019, an increase of +10% compared with the third quarter of 2018 before IFRS2 restatement, and +20% for the first 9 months of the year. During the quarter, BALYO booked an IFRS2 charge of €47 thousand simultaneously to the sales revenue generated with the beneficiary of the stock warrants (BSA), leading to restated sales revenue of €5.4 million, up +9% on last year.

Activity in Europe has stabilized, while sales revenue recorded so far this year in the United States and Asia has risen sharply, by +134% and +125% respectively. In the third quarter, BALYO commissioned 24 robots. At September 30, 2019, the number of robots employed by end users was thus 536.

Once third-quarter orders of €4.0 million are taken into account, at September 30, 2019 the Company had a backlog of €13.7 million, compared with a record €23.0 million a year ago.

2019 sales revenue growth has been limited by a slowdown in the sales momentum over the period, reflecting temporary difficulties in the deployment of certain projects. These difficulties are the subject of action plans undertaken by BALYO’s teams in collaboration with the Company’s partners with the aim of boosting the growth in orders.

Appointment of Benoît de la Motte as Chief Financial Officer

Benoît de la Motte, who has been Chief Financial Officer in tech-intensive industries (Carmat, Nexeya) for the last 10 years, is a graduate of the EM business school in Lyon, has an MBA from Pace University in New York and is a certified chartered accountant. Benoît has over 20 years of experience in finance. His proficiency in this respect will be a major asset in helping BALYO’s transformation and industrial development. Benoît is replacing Stanislas Piot, who left the Company in October 2019 and who the entire BALYO team would like to thank for his commitment and pivotal contribution to the Company.

Strategy and outlook

The issue of automating logistics flows in warehouses is one that concerns all international industrial players. BALYO’s technological leadership in this fundamental trend is globally recognized.

The work carried out by BALYO’s teams in liaison with its industrial partners (accelerated training of the installation teams specific to our partners, gradual transfer to robotic production within their units) and the roll-out of new-generation installation tools in 2020 will allow BALYO to resorb the temporary difficulties encountered in 2019 and to develop the Company’s ability to capture stronger growth.

Within this framework, BALYO is maintaining its medium-term revenue growth target of €200 million. However, as previously announced, the slowdown in the sales momentum in 2019 has led the Company to push back its loss-reduction goal.

Next financial press release: 2019 annual sales revenue, on January 30, 2020.

À PROPOS DE BALYO
Balyo transforme des chariots de manutention manuels en robots autonomes, grâce à sa technologie propriétaire Driven by Balyo™. Le système de géo-navigation développé par Balyo permet aux véhicules équipés de se localiser et de naviguer en totale autonomie à l’intérieur des bâtiments. Sur un marché des véhicules de manutention robotisés, Balyo a conclu deux accords stratégiques avec Kion Group AG (maison mère de la société Linde Material Handling) et Hyster-Yale Group, deux acteurs majeurs dans le domaine de la manutention. Présent sur les trois grandes régions du monde (Amériques, Europe et Asie-Pacifique), Balyo a réalisé un chiffre d’affaires de 23,3 M€ en 2018.
Pour plus d’informations, visitez www.balyo.com.

 


1 Inclusion of the IFRS2 charge associated with the allocation of BSA equity warrants: in accordance with the agreement signed on January 10, 2019, the beneficiary of BSA can exercise these warrants depending on that Company’s purchase of products incorporating BALYO technology.
2 The backlog refers to all orders for projects received but not yet fulfilled. The backlog evolves every quarter following the taking into account of new orders, the revenue generated by projects during the period and the cancellation of orders.

Contacts

BALYO
Benoît de la Motte
Directeur financier
investors@balyo.com

NewCap
Communication financière et Relations Investisseurs
Thomas Grojean / Louis-Victor Delouvrier
Tél. : +33 1 44 71 98 53
balyo@newcap.eu

Contacts

BALYO
Benoît de la Motte
Directeur financier
investors@balyo.com

NewCap
Communication financière et Relations Investisseurs
Thomas Grojean / Louis-Victor Delouvrier
Tél. : +33 1 44 71 98 53
balyo@newcap.eu