Parrot wants to raise 300 million euros to become the world leader in drones

by bold-lichterman

Parrot’s activity in drones is taking off. The manufacturer has published a 33% increase in revenues over the first nine months of the year, to 218 million euros, thanks in particular to a 60% increase in drone sales. Listed on Euronext since 2006, the group is considering a capital increase from 270 to 300 million euros to accelerate in this branch and establish itself in this market.

In the third quarter, consolidated sales reached 77.8 million euros, up 22% compared to the same period in 2014, due in particular to a sharp increase in drone sales. Its net profit reached 6.2 million euros in the third quarter, against 700,000 euros a year earlier.

Acceleration on consumer and commercial drones

While the group also markets tablets and navigation systems for cars, due to the slowdown in the automotive market, the drones business now accounts for 50% of its total revenues. Over the first nine months of the year, automotive activity fell by 11%, against 34% in the same period a year earlier.

The drones marketed in B2C generated the most sales, at 38.8 million euros for the quarter, against 5.6 million for commercial drones.

For this capital increase, the group is still awaiting the green light from the Autorité des marchés financiers. On the stock market, the action lost 7% Monday morning following the announcement of this next fundraiser, the terms of which are not yet known. The founder Henri Seydoux would participate to the tune of 90 million euros, thus maintaining his stake at around 36% of the company’s capital. Based in Paris, Parrot employs more than 900 people around the world.