In this context, operating expenditure for the year came to €76.2m (-0.9%), stable compared with 2019. EBIT came to €(35.6)m, compared with €(27.4)m in 2019, primarily reflecting the drop in sales it takes into account the furlough measures applied, mainly in Switzerland and Germany, with the economic support arrangements put in place by their respective governments, which accounts for €2.3m of savings on staff costs for the year. In 2020, the Group continued to manage its operations with two core priorities: maintaining its strong capacity for innovation, which is essential for guaranteeing its future on the drone market, and ensuring strict control over costs, with an improvement in the impact of the measures adopted in 2019.
Microsoft parrot drone software#
The growing percentage for software and the reduction in consumer product sales are the key factors behind this improvement. The product strategy rolled out since the end of 2018, focused on commercial drones and solutions that are reliable in terms of both performance and data security, is driving a major turnaround in the gross margin rate, up to 70.2%.
Similar trends can be seen in Spain and the UK, where many institutions, concerned about their data security, are now choosing Parrot drones. In France (10% of Group revenues), where lockdown measures have been extensive, the contraction in revenues came to 42.9%, excluding the framework agreement signed at the start of 2021 with the French Defense Procurement Agency (DGA) for the Anafi USA. In North America, the drop in sales (-19.4%) was partially offset by the success of the latest drone models (Anafi Thermal, Anafi USA) intended for government agencies and security forces in this field, which is particularly attentive to cybersecurity issues. These trends are set against a commercial drone market that declined by an estimated 12% in 2020, due to the impact of the health crisis 1.įrom a geographical perspective, 16% of the Group’s consolidated revenues achieved average growth of 23.8%, driven in particular by the new commercial clients brought on board in South America and Germany, as well as the security contracts signed in Japan and Switzerland. Looking beyond the management of its sales strategy, the effects of the health crisis (lockdown, travel restrictions) were more marked for equipment sales (-25.8% excluding older generations of products), while sales of dedicated software for drone-based data analysis continued to grow (+3.7% excluding intragroup sales) they represent 41% of the Group’s sales at end-2020, compared with 30% at end-2019. Revenues for the new generations of products came in 1% higher than the fourth quarter of 2019. In the fourth quarter of 2020, the contraction in consolidated revenues was reduced to -10.9% on an annual basis, with 15.1% growth compared with the third quarter of 2020. At end-2020, the new generations of drones and solutions represented 96% of revenues. Globally, the Group recorded €57.3m of consolidated revenues in 2020, with this contraction (-24.7%) linked primarily to the voluntary scaling back of consumer product sales. Condensed consolidated accounts - IFRS (€m) The audit procedures are currently being finalized by the statutory auditors and the reports will be issued once the necessary procedures have been completed. The consolidated accounts for 2020 were approved by the Board of Directors on March 17, 2021.
15.3% for H2), the business development plan was relatively unaffected by the health crisis thanks to the dedication shown by the Group’s teams, its projects were able to move forward under virtually normal conditions and the contraction in revenues, resulting from the offering’s realignment around the new generations of commercial products, gradually slowed down during the year. Looking beyond the slowdown in sales linked to Covid-19, concentrated primarily over the first half of the year (-33.3% vs.
In 2020, faced with an unprecedented health and economic situation, Parrot finalized the realignment of its portfolio of drones and solutions around commercial markets, confirmed the turnaround in its gross margin and maintained its capacity for innovation, while deploying on the Defense and Security drone market.
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