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Revenue HY1 2020: €6.8M • +15.5% compared with HY1 2019 published revenue • 25.8% drop in revenue on a like-for-like basis (including divested operations) - Delta Drone cross

Revenue HY1 2020: €6.8M • +15.5% compared with HY1 2019 published revenue • 25.8% drop in revenue on a like-for-like basis (including divested operations)

From a purely accounting perspective, consolidated revenue for the first half of 2020 was up 15.5% compared with the same period the previous financial year.

However, these figures must be adjusted to reflect the effect of changes in the scope of consolidation during this time, in particular the inclusion in the Group of the ATM entities as at 1 June 2019.

Likewise, completed or pending sales must be taken into account, such as that of Hydrogéosphère, which entered into effect on 30 June 2020.

In view of the scope of consolidation’s various influences, the “adjusted” revenue for the first half of 202 would be €6 493K, down 25.8% compared with the first half of 2019.

Comments on the first six months’ activity

Generally, activity felt the negative impact of the health crisis and stay-at-home orders affecting most countries.

“Professional solutions” activity (13.3% of revenue):

Revenue from this first core activity was heavily impacted by the overall situation, with a 44.8% drop in activity despite the resilience of Rocketmine’s activity in Africa (-17.3%).

The on-site deployment of the first ISS Spotter (security) and CountBot (inventory) systems had to be delayed because of both supply disruptions affecting production and strict travel restrictions in France and abroad. We hope the situation will improve for the second half of the year, which would have a significant effect on activity levels.

“Services” activity (86.7% of revenue):

Revenue from this activity fared better, with an overall drop of 21.4%.

Within this activity, Safety & Security posted a fall of 19.4%, mainly due to the cancellation or disruption of all public gatherings (cultural and sporting events). Training was hit harder (-39.7%) due to the closing of training centers and stopping of training sessions. We hope all Services activity will increase in the second half of the year.

Continued pursuit of 2020 – 2021 plan and strategic goals

The major disruptions due to the worldwide health crisis did not slow down the implementation of the 2020 – 2021 plan or the reorganization structuring the Group into the two core activities of “Professional solutions” and “Services.”

The decision to cease or sell several long-standing activities with structural deficits, which only represented €704K for the first half of the year, led to the departure of 30 Group employees and the closing of two satellite sites.

In parallel, 15 new employees started or will be starting with the Group, 13 of which as part of the engineering and design teams, i.e., working to produce professional solutions.

These changes should have a positive impact on the Group’s income statement.

From a marketing standpoint, the growing number of industrial groups interested in the ISS Spotter solutions (security) allows us to expect strong growth in revenue from this activity.

In any case, the year 2020 will remain an unusual time for the world economy and the major uncertainties that continue to exist as to how the situation will develop over the coming months mean we must remain cautious when it comes to making any financial predictions.

Nevertheless, as regards the 2020 financial year overall, the Group does not expect a drop in consolidated revenue compared with the previous year.

In the medium term, Delta Drone will continue to focus on its three main two-year goals: consolidated revenue of €30M, a positive operating margin of 10% and 30% of revenue generated outside France.

The detailed accounts for the first half of 2020 shall be closed and released this October.

Download press release of July 29 2020

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