- Full-year 2021 revenue of €21.8 million, driven by the EMEA
region, up 8%
- Strong increase in annual order intake amounted to €21.5
million, up 35% vs. 2020
- Growth in order backlog1 to €9.5 million at December 31,
2021: up 16%
- Renewal of Linde Material Handling order commitment
amounting to €13.9 million in 2022
- Strong commercial momentum in the Americas region: +275%
increase in order backlog in 2021
- Signing of a strategic and commercial partnership agreement
with Bolloré Logistics in the APAC region (post-closing)
Regulatory News:
BALYO (FR0013258399, Ticker: BALYO, eligible for PEA-PME
savings schemes), a technological leader in the design and
development of innovative robotic solutions for material handling
trucks, today announces its sales revenue as of December 31,
2021.
Pascal Rialland, CEO of BALYO, comments: “The year 2021
marks a commercial turning point, with an acceleration of order
intake up by +35% compared to 2020, in line with our expectations.
2021 sets the end of a financial and operational structuring cycle,
which was initiated in mid-2019. Thanks to a unique positioning in
the mobile robotics and pallet movement market, a renowned product
offering in high rack storage and a high gross margin level,
despite significant price sensitivity in industrial markets, BALYO
can now focus on continued commercial momentum in 2022. The latest
will be driven by several factors, including: an unrivalled range
of global and standard robots, advanced technologies via the OS –
launch of a V5.0 "beta" version in the second half of 2022 that
will set a new standard regarding customer experience - and the
ramp-up of many of our commercial partnerships. BALYO has reached a
major commercial milestone in 2021 with, for the first time since
2015, the marketing of major projects in direct sales, particularly
in the United States. The renewal and expansion of the sales team
will contribute to this momentum, especially in Europe and in the
United States, through an ambitious sales plan in 2022, aiming a
significant growth in direct sales orders and an acceleration of
the growth rate of global order intake. BALYO's teams, as well as
those of its partners, are more than ever committed for this plan.
The Company will also be able to rely on its recent capital
increase of €6.1 million, as well as on the renewal of Linde
Material Handling's order commitment for a total amount of €13.9
million in 2022.”
In thousands of euros
Q4 2020
Q4 2021
2020
2021
Change Q4-21/Q4-20
Change 2021/2020
EMEA region
5,658
5,550
18,100
19,607
-2%
+8%
Americas region
607
784
2,166
1,987
+29%
-8%
APAC region
341
49
1,427
189
-86%
-87%
Sales revenue reported*
6,605
6,383
21,685
21,771
-3%
0%
*Unaudited data
Q4 2021 activity and revenue
BALYO recorded revenue of €6.4 million in Q4 2021, down 3%
compared to the fourth quarter of 2020. 2021 revenue totaled to
€21.8 million. Sales revenue for the 2021 financial year in the
EMEA region is up by 8%.
After taking into account fourth quarter 2021 orders of €5.1
million, the order backlog totaled €9.5 million at December 31,
2021, compared with €8.2 million a year earlier, an increase of
16%. This marks an upturn in the backlog, which had been decreasing
over the last two years, particularly through the switch to the
sale of Robotics Kits to OEMs - these kits have a lead-time, and
therefore a shorter revenue recognition period compared to the
historical sale of "turnkey" projects. As of December 31, 2021, the
order backlog in the Americas region rose sharply, up +275%.
2021 is characterized by an increase of 35% in order intake.
Completion of a Capital Increase by Private Placement
In order to build on the growing interest among logistics
players for its innovative robotic solutions, the Company
strengthened its financial resources through a private placement
that enabled a capital increase of €6.1 million euros in October
2021. These financial resources will contribute to accelerate
BALYO's commercial momentum in 2022, as well as to the financing of
working capital.
Renewal of Linde Material Handling's order commitment for
€13.9 million in 2022
For the third year in a row, BALYO and Linde Material Handling
have decided to contractualize their relationship by signing a
contract of orders. BALYO’s historical industrial partner has thus
committed to order BALYO solutions for a total amount of €13.9
million during the fiscal year 2022.
Post-closing event: signing of a strategic and commercial
partnership with Bolloré Logistics in the Asia-Pacific
region
The goal of this agreement is to foster a close cooperation to
implement BALYO's robotic solutions in the Asia-Pacific region and
thus, to support Bolloré towards operational excellence. To this
end, BALYO's Singapore team will now be located in B.Lab Singapore,
Bolloré Logistics' innovation booster, and will benefit from
Bolloré Logistics' facilities to further develop and market BALYO's
solutions in the region. Concretely, this partnership has resulted
in an initial order for a BALYO "VNA" robotic truck. Following this
trial phase, both parties intend to initiate short-term studies to
select Bolloré Logistics sites in APAC that can be equipped with
BALYO solutions.
Strategy and outlook
In 2022, BALYO should benefit from the structuring and
acceleration of direct and indirect sales following the recruitment
of additional sales staff end of 2021 and the partnerships
established with leading logistics integrators in 2021. In the
coming quarters, sales should be enhanced by the reduction in
delivery lead-times, the result of actions implemented by the Group
to optimize the installation process, by robot inventory made
available and the continuation of the sales of robotic kits to OEM
partners, particularly to Linde Material Handling.
As previously announced, BALYO remains cautious given the
context of longer delivery times for some components. However, the
effects should remain limited given the current trend in the
situation improvement.
Next BALYO financial release: 2021 annual results, on
March 28, 2022, after market close.
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 €21.8 million
in 2021. For more information, visit https://www.balyo.com/.
1 the backlog refers to all orders for projects received but not
yet fulfilled. The backlog evolves every quarter, after taking into
account new orders, the revenues generated by projects during the
period as well as order cancellations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220127005858/en/
BALYO Frank Chuffart investors@balyo.com
NewCap Financial Communication and Investor Relations
Thomas Grojean / Louis-Victor Delouvrier Tel: +33 1 44 71 98 53
balyo@newcap.eu
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