Exail Technologies realized an excellent third quarter, with strong order intake and significant revenue growth. The company achieved a turnover of €89 million, a record for this period of the year, with a notable increase of +37%. At the same time, the intense commercial momentum since the end of last year continues, resulting in strong order intake. This quarter, Exail obtained nearly €100 million in maritime robotics, complemented by strong demand for its navigation systems for civil and defense applications.
In the first 9 months of the year, Exail Technologies obtained €306 million in new orders, an increase of +53%.
| (en millions d'euros) | T3 2024 | T3 2023 | Var. % | 9 mois 2024 | 9 mois 2023 | Var. % |
| Consolidated revenues | 89 | 65 | +37% | 251 | 219 | +15% |
| Navigation & Maritime Robotics segment | 70 | 49 | +41% | 194 | 166 | +17% |
| Advanced Technologies segment | 22 | 18 | +22% | 66 | 59 | +11% |
| Structure & intra-group eliminations | -3 | -2 | - | -9 | -7 | - |
| Backlog at the end of the period | - | - | - | 685 | 610 | +12% |
Order intake for the 3rd quarter 2024: €144 million, up +139%
Significant new orders in maritime robotics, for €100 million
Following the gain of a new program in the Middle East at the beginning of 2024, Exail Technologies recorded sales of drone systems reaching nearly €100 million this quarter. For several quarters, the group has maintained a very high commercial effort. This strategy is starting to pay off, as evidenced by the conclusion of significant contracts and the progress of negotiations on several other programs under decision.
The company signed at the beginning of July 2024 the largest order in the group's history in terms of the number of robots. It concerns the equipment of K-STER drones for the Belgian and Dutch navies for €60 million (link to the press release).
In September 2024, Exail won an order for a deep-sea drone capable of operating at 6,000 meters depth to equip the French navy. This program represents a very significant amount for the company and should last about 2 years (link to the press release).
In addition, intermediate-sized orders (between €2 and €10 million) for additional services, maintenance, or spare parts were recorded this quarter. This already notable activity should grow further with the delivery of the initial capacities of the ongoing programs.
Navigation system: sustained commercial activity
All of the group's application markets continue to support the sales of inertial navigation systems, with nearly €30 million sold this quarter. The order book is fueled by several significant contracts, in the maritime domain and also in land defense, with a notable new contract recently won in Northern Europe.
Since the beginning of the year, orders for navigation systems have thus increased by more than 30%.
The advanced technologies segment recorded a robust performance with around €15 million in orders this quarter. These come from various clients in different sectors, such as laser applications, the quantum field, and aerospace. Since the beginning of the year, the volume of orders from external clients has remained relatively stable due to the priority given to production for the navigation and maritime robotics segment.
Revenues growing by +37% in the 3rd quarter 2024
Exail Technologies recorded a turnover of €89 million in the third quarter, a very good performance for this period of the year.
Navigation & Maritime Robotics segment: €70 million, up +41%
This sector is the main driver of activity growth. The strong increase observed this quarter results from several elements:
- Good progress in ongoing maritime robotics programs, including those for the Belgian and Dutch navies, the Latvian navy, and several Middle Eastern navies.
- A sustained pace in the deliveries of inertial navigation systems, thanks to increased efforts to boost production capacities since the end of the previous fiscal year.
Advanced Technologies segment: €22 million revenues, increasing by 22%
This quarter, this segment recorded a significant increase in its turnover. This results mainly from the increased contributions of Defense sector clients for high value-added equipment and components.
Perspectives
The commercial activity of the 3rd quarter demonstrates the company's ability to transform its commercial efforts into order intake. In the field of autonomous robotics, Exail Technologies aims to position its solutions as market standards by winning a significant number of programs. In addition to the €100 million in new drone contracts signed this quarter, other successes could materialize by the end of 2024.
Thanks to the good pace of deliveries of navigation systems, the company has secured part of its annual performance objectives earlier than last year. In the 4th quarter of 2024, it expects activity to be higher than that of the third quarter, aided by favorable seasonality. In the previous fiscal year, this seasonality was particularly marked with a turnover of more than €100 million achieved in the fourth quarter of 2023.
The company thus maintains the 2024 guidance communicated during the publication of the 2023 annual results: Exail Technologies aims for double-digit revenue growth and absolute value growth of its current EBITDA
.
About Exail Technologies
Exail Technologies is an industrial company specializing in high-tech navigation systems and autonomous robotics with vertical integration across its operations. The group offers complex systems including drones, navigation equipment, as well as products for the aerospace and photonics sectors. Exail Technologies ensures performance, reliability, and security for its civil and military clients operating in harsh environments. The company generates its revenues in nearly 80 countries.
Exail technologies is listed on Euronext Paris Compartment B (EXA) and is part of the Euronext Tech Leaders segment.
www.exail-technologies.com
| Contacts : | ||
| Investor Relations Hugo Soussan Tel. +33 (0)1 44 77 94 86 h.soussan@exail-technologies.com Anne-Pauline Petureaux Tel. +33 (0)1 53 67 36 72 apetureaux@actus.fr | Media Relations Manon Clairet Tel. +33 (0)1 53 67 36 73 mclairet@actus.fr |
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