PRESS RELEASE |
2021 THIRD-QUARTER BUSINESS
For the third quarter of 2021, the Parrot group achieved consolidated revenue of €14.5m and €11.6m on the basis of the current consolidation scope, i.e. excluding the revenues of the subsidiaries sold in January and
Parrot has thus completed its reorganisation in the commercial drone market segments that the Group considers most promising: advanced quadcopter drones and high-precision imaging software. These complementary technologies, together with the development of a global ecosystem of drone software providers, through the SDK partnership program, enable Parrot to offer comprehensive commercial solutions, with high standards of security and privacy, that meet their needs for operational efficiency.
Concerning the Group’s activity (activities retained) for the third quarter of 2021:
The revenues for micro-drones at €5.8m is up +35.0% at current exchange rates. In anticipation of end-of-year commercial operations, Parrot has commenced the sale of all its consumer products still in stock, amounting to €5.0m. During this period, Parrot also finalised production of the orders for
ANAFI Ai, presented at the end of June, is in the pre-production phase for launch in the first quarter of 2022. Production supplies have been secured and the "Early Access" programme was initiated in late September. It allows professionals in the inspection, construction, infrastructure, utilities, energy, public safety, surveying, agriculture and defence sectors to evaluate the new features and use cases offered by ANAFI Ai. These include, for example, urban building inspection missions with robust 4G connectivity, mapping long-distance power lines to 48 MP at 1fps. This enables 3D models of a building to be generated by simply clicking on its map location with the FreeFlight 7 application as well as accurate flight plans to be created in complex environments with a unique obstacle avoidance system, and benefits from Integrated Secure Element to protect sensitive data or develop flight missions with AirSDK and contributes to Parrot’s open-source piloting application.
Pix4D’s imaging and data analysis software generated revenues of €5.9m, up 2% year on year at current exchange rates. Pix4D has continued to expand its professional solutions, and is the first in the industry to offer LiDAR and photogrammetric data combined. Sales of these new solutions (Pix4Dreact, Pix4Dfields, Pix4Dsurvey, Pix4Dmatic) and scalable platforms (Pix4Dengine, Pix4Dcloud, etc.), which facilitate the integration of its technologies within companies and large groups, continued to accelerate in the third quarter.
In the field of data measurement and analysis, Pix4D continues to diversify its use cases and respond to increasingly varied operations such as: measuring asphalt stocks over a surface of 41,000 m2 in
GROUP PARROT REVENUE
In €M and % of Turnover | Q3 2020 | Q3 2021 | Var. | Eg. 2020 | |||
Micro-drones ( | 4.3 | 30% | 5.8 | 40% | +37% | 18.7 | 33% |
of consumer products(1) | 1.1 | 8% | 5.0 | 35% | +356% | 7.3 | 13% |
5.8 | 40% | 5.8 | 40% | +1% | 23.3 | 41% | |
0.1 | 0% | 0.1 | 1% | NS | 0.3 | NS | |
Intercompany Disposals | -0.2 | - | -0.2 | - | NS | -1.1 | NS |
TOTAL PARROT GROUP COMPARABLE (2) | 10.0 | 11.5 | +16% | 52.0 | - | ||
MicaSense(3) | 1.2 | 9% | 0 | - | NS | 5.3 | 9% |
Fixed Wing Drones (senseFly)(4) | 3.1 | 22% | 2.9 | -5% | NS | 10.8 | 19% |
TOTAL PARROT GROUP PUBLISHED (5) | 14.3 | 100% | 14.5 | 100% | +1% | 57.3 | 100% |
(1) Consumer products: consumer drones all ranges, historical automotive products (car kit, plug & play) and connected objects.
(2) Total Groupe Parrot Comparable excludes the turnover of MicaSense and senseFly, subsidiaries transferred in 2020 (cf. (3) and (4)
(3) Following the sale of Micasense on
(4) Following the sale of SenseFly on
(5)
SenseFly sold on
The sale of the subsidiary senseFly, comprising senseFly SA, based in
A first payment of approximately
Parrot will now focus its expertise and resources on growing its business in the field of professional quadcopter drones and aerial data analysis software. This transaction frees up additional cash and reduces operating expenses to support Parrot’s growth and position in the drone industry. Thanks to the extensive capabilities of ANAFI professional drones and the Pix4D software suites, Parrot continues to target its main market segments: 3D mapping, geomatics and inspection, defence and security, and agriculture.
Co-optation of Amira Haberah as a director of Parrot
Following the resignation this summer of
To date, the Parrot Board of Directors, of which
Outlook 2021
The strategy applied by the Group since 2018, based on a technological value creation roadmap for commercial markets is delivering a range of benefits. As expected, the scope effects linked to the change in the product portfolio are expected to continue to become less marked in 2021. The Group, which has secured the vast majority of its purchases in 2021, is maintaining its vigilance concerning the tensions in the component market and developments with the health context. Parrot continues to capitalise on its capacity for innovation, it’s product quality and it’s constant focus on managing its operation and allocating its resources effectively. In line with the 2021 business development plan, including the product launches, production plans and order book, growth could accelerate over the second half of 2021, driven by deliveries in the Defence and Security sector in particular.
Recap on MicaSense’s sale
On
Financial Agenda 2022
- Annual results 2021:
Thursday March 16, 2022 - Activity for the first quarter of 2021:
May 11, 2022 - Results of the first half of 2022:
July 28, 2022 - Activity for the third quarter of 2022:
November 17, 2022
ABOUT PARROT
Founded in 1994 by
CONTACTS
Investors, analysts, financial media parrot@calyptus.net | Mainstream and Technology Media cecilia.hage@parrot.com |
Attachment
- Parrot_CP_T3-2021_1118_EN_DEF
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