PARROT: 2024 3rd quarter business
PRESS RELEASE
November 15, 2024 at 8:00am CET
2024 3rd quarter business
Consolidated revenues of €21,0 million (+39%)
The Parrot group, European leader for professional microdrones, recorded revenues of €21.0 million for the third quarter of 2024, with a +39% growth. The professional microdrones business is up +70% and the Photogrammetry business is up +4%. At this level of activity, the Group’s current operations are close to break even. Over 9 months, consolidated revenues came to €51.6 million, up +11%.
| REVENUES in € million and % of revenues | Q3 2023 3 months | Q3 2024(1) 3 months | Change | FY 2023 12 month | ||||
| Professional microdrones(2) | 8,0 | 53% | 13,6 | 65% | +70% | 33,2 | 51% | |
| Photogrammetry | 7,1 | 47% | 7,4 | 35% | +4% | 31,8 | 49% | |
| TOTAL PARROT GROUP(3) | 15,1 | 100% | 21,0 | 100% | +39% | 65,0 | 100% | |
(1) The 3rd quarter 20024 financial statements, reviewed by the Board of Directors on November 13, 2024, have not been audited.
(2) Including sales of legacy products: €0 in Q3 2023 and €0.6m in Q3 2024.
(3) Intra-group transactions and Parrot SA revenues (management fees) previously detailed systematically cancel each other out: they are no longer presented.
Professional microdrones business
The professional microdrone business totaled €13.6 million, or 65% of Group revenues. Growth of +70% over the period was driven by sales of the latest generation of ANAFI and continued strong performances from ANAFI USA, globally. Over 9 months 2024, revenues total €28.7 million, or a year-on-year increase of +23%.
Photogrammetry business
The photogrammetry business totaled €7.4 million, or 35% of Group revenues, up 4%. Sales momentum is gradually taking into account the innovations launched in the first half of 2024. Over 9 months 2024, revenues totaled €22.9 million, down 1% year-on-year.
Outlook
For 2024, the Group intends to confirm its growth momentum and continue to reduce its cash consumption.
Financial agenda
FY2024 earnings: Friday March 21, 2025, before the market.
ABOUT PARROT
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) Surveillance and Public Safety, (ii) Inspection, 3D mapping and Geomatics, (iii) 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 shareholder, 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 media Marie Calleux – T.: +33 1 48 03 60 60 parrot@calyptus.net | Tech & corporate media Chris Roberts – T.: +33 1 48 03 60 60 pr@parrot.com |
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