In This Article:
PRESS RELEASE
May 16, 2024 - 8:00am CET
2024 FIRST-QUARTER BUSINESS
Consolidated revenues of €15.8m
Positive commercial trends for professional microdrones
The Parrot group, a European leader for professional microdrones, recorded €15.8m of consolidated revenues for the first quarter of 2024, down 5% (same at constant exchange rates). Commercial trends are positive for professional microdrones (+4%) and the Photogrammetry business is looking ahead to the impact of the innovations launched in April (-11%). The good level of the gross margin and the strict control over costs kept operating expenditure at a level that is aligned with the Group’s ambitions for development.
| REVENUES | Q1 2024 | Q1 2023 | Change | FY 2023 | ||||
| A | Professional microdrones | 9.3 | 59% | 9.4 | 57% | -1% | 33.2 | 51% |
| C | Photogrammetry | 6.4 | 41% | 7.2 | 43% | -11% | 31.8 | 49% |
| D | Parrot SA | 0.2 | - | 0.2 |
| - | 0.7 |
|
| E | Intragroup eliminations | -0.2 | - | -0.2 |
| - | -0.7 |
|
|
| PARROT GROUP TOTAL | 15.8 | 100% | 16.7 | 100% | -5% | 65.0 | 100% |
Professional microdrones business
The professional microdrones business recorded €9.3m of revenues, representing 59% of Group revenues. Restated for the impact of legacy products, the ANAFI professional microdrones range generated €9.3m of revenues during the first quarter of 2024, up 4% from €8.9m for the first quarter of 2023. Sales momentum was driven in particular by new procurements from the French Defense Procurement Agency (Direction Générale de l'Armement) as part of the microdrone framework program. Tenders have been won in several European countries, the UK, the USA, Canada and JAPAC countries, while order intake remain dependent on the timelines for managing state budgets in several NATO countries.
Photogrammetry business
Revenues for the photogrammetry business came to €6.4m (-10% at constant exchange rates), representing 41% of Group revenues. The basis for comparison includes non-recurring enterprise deployments recorded in early 2023. Innovations, particularly to expand the compatibility of solutions with mobile phones, were launched in April: they further strengthen synergies between the data captured by the drones and data on the ground, and add assisted reality features that increase precision levels and provide very innovative capabilities for tracking over time. They are aimed in priority at the construction, geomatics and civil security sectors.
Outlook
While the interest in secure and autonomous microdrones is highlighted by the preponderance of new technologies in the current conflicts, Parrot is working to meet the technological and operational challenges faced to ensure the success of its next microdrone, which is driving trends in 2024.