DRONE VOLT: announces a savings plan of 800,000 euros

Drone Volt has reduced its losses in 2018 and announces a program of savings to become profitable. Thanks to an optimization of the organization, the group managed to reduce its costs of structure. As a result, the net loss increased from 2.71 to 2.7 million euros and the operating loss to 3.5 3.1 million euros. Consolidated revenue amounted to 7.4 million euros against 7.8 million euros in 2017.

As of December 31, 2018, Drone Volt has increased its equity base to 7.9 million euros from 6.9 million euros at the end of 2017. Available cash is 0.7 million euros. Financial debts totaled 3.2 million euros, of which only 0.9 million short-term shares were repaid in cash.

Thanks to the cash flow generated by its activity, particularly through the increasing sales of new high-margin solutions and its mobilized financial resources, the group estimates that its financing needs will be covered by 2019.

This year, the drone specialist aims to achieve a growth of more than 25% of its turnover. He pointed out that the negotiating pipeline in the course of contracts amounts to more than 50 engaged discussions. For example, Drone Volt is in advanced discussion for an order of sixty Hercules 10.

The gross margin should also continue to grow in 2019 and allow the group to approach the operational balance.

In order to amplify the impact of this virtuous circle of growth and strive towards its profitability objective, Drone Volt will also implement in 2019 a plan to optimize its operational expenses. This plan, which will generate nearly 800,000 euros of savings in a full year, will mainly focus on a reduction in representation costs in France and abroad.