BALYO Announces Its Q1 2023 Sales at €7.2m, up By +87%
20 Aprile 2023 - 5:45PM
Business Wire
- Continued momentum in order intake in Q1 2023 at €8.9
million, +95% vs. Q1 2022
- Strong growth in the order book1 to €14.1 million at March
31, 2023, +39%
Regulatory News:
BALYO (FR0013258399, ticker symbol: BALYO, PEA-PME
eligible) (Paris:BALYO), a technology leader in the design and
development of innovative robotic solutions for industrial trucks,
today announced its sales for the 1er quarter of 2023.
Pascal Rialland, Chairman and CEO of BALYO, said:
"This first quarter of 2023 is a continuation of the last quarter
of 2022, when the Company had already recorded an acceleration of
its commercial momentum. With orders almost doubled compared to
last year, our backlog grew by +39%. Quarterly revenues are also in
line with our expectations and confirm BALYO's commercial ambitions
for fiscal year 2023 in a less tense supply context than in the
previous year. The development of direct sales remains our
priority. The underlying sales pipeline is also continuing to grow
in line with our forecasts, which gives us a high level of
confidence in our ability to achieve our target of a majority
direct sales order intake in 2023."
In thousands of euros
Q1 2022
Q1 2023
Change
EMEA Region
3,380
5,736
+70%
Region Americas
382
1 388
+264%
APAC Region
111
104
-7%
Reported revenues*
3,873
7,228
+87%
* Unaudited data
Activity for the 1st quarter of 2023 in line with the last
quarter 2022
BALYO recorded revenues of €7.2m in Q1 2023, an increase of +87%
compared to Q1 2022 which is mainly explained by a more favorable
seasonality in the context of the 2023 commitment order contract
with our partner Linde Material Handling compared to 2022. As a
reminder, Linde Material Handling's commitment amounts to €11.5
million for the whole year 2023.
Increase in order book
As in the previous quarter, the Company has once again recorded
a significant acceleration in its commercial momentum. After
integrating new orders for €8.9 million in the first quarter of
2023, representing an increase of 95% compared to the first quarter
of 2022, the backlog as of March 31, 2023 amounted to €14.1
million, compared to €10.2 million a year earlier, an increase of
+39%.
Strategy and outlook
In 2023, BALYO will continue to implement its business model
based on commercial and operational autonomy. The Company will rely
on a sales pipeline that is constantly growing in terms of both
quality and value, particularly in the United States where BALYO is
experiencing its most dynamic growth and where the Company will
continue to invest in its teams. The company is reiterating its
objective for fiscal year 2023 of direct sales orders, which will
represent 65% of total order volume.
The R&D teams will continue their efforts to offer a digital
experience to selected customers from 2023. This will involve
providing installation tools that require no programming or
automation skills, for the entire range of robots. Other
innovations will enable customers to benefit from robots that are
more sensitive to their environment and make them smarter, for
example by allowing them to restart autonomously as soon as an
obstacle disappears from the ground. Simplifying the user
experience while ensuring the robots' ability to safely handle the
tallest and narrowest racking applications is at the heart of
BALYO's strategy.
BALYO will submit its Universal Registration Document within the
AMF on April 27, including the 2022 annual financial report, which
will be available on its website:
https://www.balyo.fr/investisseurs
BALYO's Impact 2022 report will be available online in the
coming days. The company will present its initiatives in terms of
CSR and in particular its desire to build on the digitalization of
the customer experience in order to significantly reduce the travel
of its teams, which will enable it to improve its carbon footprint.
As part of its responsible purchasing policy, one of the other
major challenges for BALYO will be to make greater use of recycled
steel.
***
General Meeting of Shareholders: June 15, 2023
Next financial press release: first half 2023 revenues,
July 20, 2023
About BALYO Humans around the World deserve enriching and
creative jobs. At BALYO, we believe that pallet movements in DC and
manufacturing sites should be left to fully autonomous robots. To
execute this ambition, BALYO transforms standard forklifts into
intelligent robots thanks to its breakthrough Driven by Balyo™
technology. Our leading geo guidance navigation system enables
robots to locate their position and navigate autonomously inside
buildings - without the need for any additional infrastructure. To
accelerate the material handling market conversion to autonomy,
BALYO has entered into two global partnerships with KION
(Fenwick-Linde's parent company) and Hyster-Yale Group. A full
range of globally available robots has been developed for virtually
all traditional warehousing applications; Tractor, Pallet,
Stackers, Reach and VNA-robots. BALYO and its subsidiaries in
Boston and Singapore serve clients in the Americas, Europe and
Asia-Pacific. The company has been listed on EURONEXT since 2017
and its sales revenue reached €24.1 million in 2022. For more
information, visit www.balyo.com.
----
1 Backlog refers to all project orders received but not yet
delivered. The backlog changes every quarter after taking into
account new orders, revenues generated by projects during the
period and order cancellations.
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version on businesswire.com: https://www.businesswire.com/news/home/20230420005676/en/
BALYO Frank Chuffart investors@balyo.com
NewCap Financial Communication and Investor Relations Thomas
Grojean / Aurélie Manavarere Phone: +33 1 44 71 94 94
balyo@newcap.eu
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