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PARROT: SALE OF A MINORITY INTEREST

 

PRESS RELEASE
Paris, August 18, 2022, 8am CET

SALE OF A MINORITY INTEREST

Parrot sells its minority stake in Planck Aerosystems Inc.

Parrot, the European leader in professional drones, announce that it has reached an agreement with AeroVironment, a global leader in intelligent, multi-domain robotic systems, regarding the sale of its 47.2% stake in Planck Aerosystems Inc, a U.S. company (San Diego, California) in which Parrot had initially invested in 2016. As part of a global asset purchase agreement, Planck, which develops and integrates navigation and autonomy solutions for micro-UAVs, will merge with AeroVironment's medium-sized unmanned aircraft systems (MUAS) commercial segment.

For Parrot, the transaction will result in a payment of approximately $3.2 million, including approximately $1.2 million in debt repayment (convertible loans). Planck was accounted for using the equity method. IFRS 5 "Assets classified as held for sale" has been applied in the financial statements as of June 30, 2022, published on July 28, 2022.

Next financial dates

  • 2022 third-quarter business: Thursday November 17, 2022

ABOUT PARROT

Founded in 1994 by Henri Seydoux, Parrot is today the leading European drone manufacturer in this rapidly expanding market.
Visionary, at the forefront of innovation Parrot has a complementary range of equipment and software adapted to the needs of companies, large groups and government organizations. Its offer is mainly centred on three vertical markets: (i) Inspection, 3D mapping and Geomatics, (ii) Defence and security, and Precision agriculture.

Its ANAFI range of micro UAVs, recognized for their performance, robustness and ease of use, features an open source architecture and meets the highest safety standards. Its software suite for mobile and drone mapping is based on advanced expertise in photogrammetry and offers solutions tailored to the specificities of the verticals it addresses.

The Parrot Group designs and develops its products in Europe, mainly in Paris where its headquarters are located and in Switzerland. Today, it has approximately 450 employees worldwide and carries out the vast majority of its sales internationally. Parrot has been listed on Euronext Paris since 2006 (FR0004038263 - PARRO). For more information:www.parrot.com, www.pix4d.com

CONTACTS

Investors, analysts, financial medias
Marie Calleux - T. : +33(0) 1 48 03 60 60
parrot@calyptus.net

Tech & consumer medias
Jean Miflin - T. : +33(0) 1 48 03 60 60
jean.miflin@parrot.com

 

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