IVRY-SUR-SEINE, France – (COMMERCIAL THREAD) – Regulatory news:

BALYO (FR0013258399, Ticker: BALYO, eligible for PEA-PME plans) (Paris: BALYO), technological leader in the design and development of innovative robotic solutions for industrial trucks, today announces its annual results for 2020, as approved by the Board of Directors on March 17, 2021.

Pascal Rialland, CEO of BALYO, said: “2020 was an unprecedented year due to the Covid-19 and the economic context, but BALYO is emerging from the crisis stronger thanks to the collective work and the commitment of its teams. Concretely, the impact of the commercial and operational strategy that we implemented during the year was positive and very encouraging. We have intensified our digital marketing strategy by strengthening the visibility of our technological platform with a growing number of industrial and logistics companies in all geographic areas, and in particular in Asia and the United States. Our main industrial partner has renewed its order commitments and we have signed numerous contracts with integrators, giving BALYO greater visibility over all of its activity. Our sales momentum should also be strengthened by the ramping up of our direct sales capacities. As a result, we are confident that our profitability will continue to improve significantly in 2021 and that we will experience robust growth. Our range of robotic warehouse solutions, which can be deployed quickly and generate a strong return on investment, combined with our strengthened operational and marketing strategy, means we are ideally positioned for 2021. ”

2020 annual results *

* The consolidated accounts have been audited and the Statutory Auditor’s report will be issued after verification of the management report and after completion of the required procedures.

As previously announced, 2020 revenue amounted to € 21.7 million including the IFRS 2 charge related to the allocation of warrants. After adding the 4.8 million euros of orders received in the fourth quarter of 2020, the backlog stood at 8.2 million euros as of December 31, 2020. Combined with the recent minimum order commitment of 13.6 million euros from Linde Material Handling and the new sales channels put in place, this offers a solid outlook for the coming year.

The gross margin stood at 21% in 2020 against 6% in 2019, clearly demonstrating the success of the operational strategy adopted during previous periods, through which BALYO carried out numerous works to improve its installation and training processes. and quality control. In particular, the move towards the sale of robotics kits has played a big role in these improvements.

Operating expenses continued to decline in the second half of 2020, dropping 36% over the period. These reductions are mainly due to a better allocation of our personnel costs as well as a decrease in marketing expenses related to the Covid-19 situation.

BALYO recorded an operating loss of 7.5 million euros in 2020, including a loss of 6.5 million euros in the first half of 2020. In total, and including a financial charge of 0.4 million euros euros linked to foreign exchange losses, the net loss amounted to € 7.9 million in 2020 against 17.7 million euros in 2019.

Obtaining a loan guaranteed by the French State of 9.5 million euros, combined with good cash management, increased BALYO’s financial resources to 8.8 million euros as of December 31 2020 against 4.6 million euros at the end of 2019.

Strategy and outlook

In 2021, BALYO should benefit from the growing positive effect of new operational engines, efforts to strengthen its sales department, commercial partnerships with integrators, greater commercial independence supporting direct sales and technological progress made in 2020. Linde Material’s minimum order commitment Commitment, which amounts to € 13.6 million in 2021 against € 12 million in 2020, up 13%, shows the growing recognition of the unique quality of our solutions robotics and their ability to be fully deployed in all types of industrial environments.

BALYO’s cost reduction strategy has also drastically reduced the breakeven point of its activity, which now represents sales of around 25 million euros.

In 2021, on the strength of these numerous developments, BALYO aims to accelerate its growth and maintain the significant improvement in its operational profitability.

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BALYO’s annual financial report will soon be available in the investors section of BALYO’s website: https://www.balyo.fr/Societe/Investisseurs

Next financial publication: revenue from the first quarter of 2021 to April 22, 2021.

ABOUT BALYO

Balyo transforms standard forklifts into autonomous intelligent robots thanks to its revolutionary patented technology Driven by Balyo ™. The geoguiding navigation system developed by Balyo allows vehicles equipped with the system to locate their position and navigate autonomously inside buildings. In the automated handling vehicle market, Balyo has entered into two strategic agreements with Kion Group AG (parent company of Linde Material Handling) and Hyster-Yale Group, two major operators in the material handling sector. Balyo is present in three major geographic areas (Americas, Europe and Asia-Pacific). Its turnover reached 21.7 million euros in 2020.

For more information, please visit our website at www.balyo.com.