DRONE VOLT: 2022 half-year results illustrate growth momentum driven by future investments – 09/14/2022 at 18:00

Villepinte, September 14, 2022

  • New record mid-year revenue and stable gross margin;

  • Success of the external growth strategy with the successful integration of SKYTOOLS and VIKING DRONES assets;

  • Continuous innovations with the new Heliplane, the finalization of Linedrone development with Hydro-Québec and the future hydrogen drone, with ROTH2 and PRAGMA INDUSTRIES;

  • Acceleration of commercial investments with the resumption of major international fairs;

  • The mid-year results are temporarily impacted by these investments for the future;

  • €3 million in cash and €3.3 million in inventory to continue the growth dynamic;

  • Favorable business outlook for the second half of the year.

DRONE VOLT, expert in integrated artificial intelligence and manufacturer of professional civilian drones, presents its half-year results to June 30, 2022.

Unaudited data in thousands of euros – IFRS Standards

S1 2021

S1 2022





+ 543

Thick margin





Operating expenses

(without depreciation and provisions)



+ 761

Gross operating surplus


(1 311)


Allocations to depreciation and provisions and other operating income and expenses



+ 534

Current operating income




Other operating income and expenses




Operating income




Cost of financial debt




Other financial income and expenses



+ 274

Fiscal taxes



+ 106

The net profit



(1 816)

“Above all, I am very proud of the work of all the teams that allowed us to reach this record level of turnover at the end of June. We have been able to make the necessary efforts, both through the development of new innovative products, the acquisition of additional skills through our external growth policy and our commercial presence at major international fairs. This strategy offers us very good prospects for the second half of the year, despite a very demanding base effect in the 3rd.


quarter »

says Marc Courcelle, Managing Director of DRONE VOLT.

New record mid-year revenue and stable gross margin

DRONE VOLT recorded a record consolidated turnover of 4.2 million euros in 1


mid 2022, +15%. This figure does not take into account many orders registered at the end of the semester that will give rise to shipments and invoices on the 2nd.


Mid-2022. Beyond its solid commercial momentum, the Group benefited from the integration of SKYTOOLS, a player in the distribution and services of drones in the Netherlands, which contributed 375 keuros in the 1.


semester 2022.

The consolidated gross margin of the Group is 1.4 million euros, or 34% of sales, almost stable compared to 1.


semester 2022 (-2%). The largest share obtained during the half year from the activities of the Third Party Brands (17% of the gross margin), was offset by the integration of SKYTOOLS, which posted an average rate of gross margins of 46%

Accelerating investments for the future

To support this virtuous dynamic of long-term growth, DRONE VOLT has decided to accelerate its investments for the future with 3 major and synergistic levers:

  1. Technological innovations resulting from the know-how of the company, with the new Heliplane, the finalization of the Linedrone development with Hydro-Québec and the future hydrogen drone, with ROTH2 and PRAGMA INDUSTRIES;

  2. The acquisition of complementary skills, with the acquisition of SKYTOOLS and the assets of VIKING DRONES, a Danish player specializing in connected drones for developers and integrators;

  3. Increased presence at major international fairs, both in the United States (T&D in April) and in Europe (Eurosatory in June and CIGRE in August).

These investments for the future generate an additional expenditure of €470,000 on 1


mid-2022, which explains most of the increase in operating expenses compared to the first


2021. The EBITDA is therefore -1.3 million euros (-0.5 million euros a year earlier) and the operating result, including an increase in provisions of €300,000, is – 3.4 million. Half-year net income was -2.5 million euros, including a tax credit of 0.6 million.

Financial resources supplemented by an Innovation Loan and a new grant in Canada

To finance these investments for the future, DRONE VOLT signed an Innovation Loan of 2.5 million euros granted by Bpifrance. The loan will be spread over the next 7 years, with a grace period of 2 years (until September 2024) and an interest rate of 4.30%.

As of June 30, 2022, DRONE VOLT thus published a capital of 37.0 million euros and a liquidity of 3.0 million for a gross financial debt of 4.4 million, consisting mainly of this Innovation Loan and PGE for 1.5 million.

It should be noted that DRONE VOLT has finalized the conversion, in January 2022, of the integration of the pending bonds under the financing contract signed in December 2020 with ATLAS SPECIAL OPPORTUNITIES and has announced the suspension of the use of this financing contract – less until the end of 2022.

In addition, DRONE VOLT has a significant amount of stock at the end of June 2022, estimated at 3.3 million euros, to be able to ensure a quick delivery of orders in the second half of the year.

Finally, DRONE VOLT obtained, in July 2022, a grant of 0.9 million Canadian dollars, or about 700 keuros, for the development of a drone landing strip inspection solution. This amount is recognized gradually as operating income over the duration of the project, i.e. approximately 24 months.

Favorable business outlook

After 1


increasing in the middle of the year, DRONE VOLT anticipates the continuation of the good commercial momentum in the second half of the financial year 2022. The last fairs in particular should result in shipments from the 3.


quarter that should lead the activity.

Thus, the participation of DRONE VOLT in the last show organized by CIGRE


in August 2022 showed the very strong interest of the main actors in the field of high voltage electricity (electricity producers, infrastructure builders and network managers) for the technological solutions developed and marketed by DRONE VOLT. On this occasion, DRONE VOLT presented several specific solutions designed by its teams, including:



    developed in collaboration with HYDRO-QUEBEC;

  • The HERCULES 20 equipped with tools to pull an electric cable to replace or new installation on a section;

  • HELIPLANO, VTOL drone – Vertical take-off and landing – equipped with a fixed wing that allows the inspection of networks over several tens of kilometers.

The ambition with the development of these new solutions with a high technological content is also to accelerate the implementation of services with a high added value.

However, the basis of comparison will be high, the Group reached a historical level of activity in the 3


quarter 2021 at 2.7 million euros). In addition, in accordance with what had been announced, DRONE VOLT has decided to temporarily suspend, from the second half of 2022, the invoice for production licenses to its American partner AQUILINE DRONE (650 keuros on 1


mid 2022) which will now devote all its commercial efforts to the distribution of the HERCULES 20 model after having ordered just over 200 HERCULES 2 since the beginning of the collaboration.

Availability of the semi-annual financial report

The half-yearly financial report to June 30, 2022 will be published on the company’s website within the legal terms.

Next press release: Revenue for 3


quarter 2022, on Wednesday, October 19, 2022

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Created in 2011, DRONE VOLT is an aircraft manufacturer specializing in professional civil drones and artificial intelligence. DRONE VOLT is established in France, Benelux, Canada, Denmark, United States, Switzerland and Indonesia. A global partner, DRONE VOLT offers its customers turnkey business solutions including various services and training in drone piloting.

The DRONE VOLT Group, member of GICAT, made a turnover of 8.6 million euros in 2021.

DRONE VOLT supplies in particular administrations and manufacturers such as the French Army, the Ministry of the Armed Forces, Engie, Total, Bouygues ES, ADP, the Gendarmerie des Transports Aériens (GTA), international government agencies, etc.

DRONE VOLT is qualified as “Innovative Company” by Bpifrance.

DRONE VOLT is listed on the Euronext Growth market in Paris:

Share: Ticker: ALDRV.PA – ISIN Code: FR0013088606 – Eligible: PEA, PEA-PME

Warrant: Ticker: BNBS.PA – ISIN Code: FR0014007951

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Figures including the contribution of the Dutch company SKYTOOLS from January 18, 2022


Against a turnover of 4,023 keuros and a gross margin of 1,373 keuros announced on July 13, 2022


International Council of Large Electricity Networks


Drone intended for the complex inspection of high voltage electricity transmission lines. Detects energy losses in an electrical network to accurately determine maintenance needs.

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