Airtificial improves its operating results
- The Company ends the first half of 2023 with revenues of €49 million, a 17% increase from €41 million in the same period last year; consolidated EBITDA of €2.5 million, 56% higher than in the same period of 2022; positive EBITDA in all its business units; and an increase in operating profit of 60%.
- The Company’s new geographic and product diversification strategy has led to a backlog of signed orders valued in €191 million.
- Airtificial is involved in iconic projects, both in sectors in which it already operates and in new ones, such as: the first river navigation project in Colombia; the FCAS, the European combat aircraft; and it has signed the largest contract in its history for the installation of artificial intelligence in assembly lines for electric and hybrid motors in the automotive sector.
Airtificial’s operating results and business figures at the end of the first half of the year show the growth of the Company’s activity. Airtificial closed the first half of the year with a turnover of €49 million, 17% higher than the €41 million recorded in the same period last year; achieved an EBITDA of €2.5 million, an increase of 56% compared to €1.6 million in the same period of 2022; achieved a 60% improvement in its operating profit; and obtained a positive operating cash flow. In addition, the Company has signed new contracts worth €45.8 millionin the first half of the year and has a backlog of contracts of €191 million. The Company obtained a net loss of €3.1 million as a result of the expenses necessary to finance the industrial technological growth, typical of the moment in which the Company is, as well as the increase in financial expenses generalised in the market.
The company’s geographical and product diversification strategy has started to be reflected in the improvement of its business figures. Airtificial Group is not only improving its consolidated operating results, but also those of each one of its three business units. Thus, Intelligent Robots has reached a turnover of €27.3 million (22% increase over the previous year); Aerospace & Defence has reached €14.4 million (21% up on last year); and Inypsa Civil Works has achieved €7.3 million (a 1% increase).
In addition, geographical diversification allows the company to distribute the origin of its turnover. Thus, 28% of the group’s turnover comes from Spain, 42% from America, 25% from the rest of Europe and, finally, 5% from Asia, which is a geographical area in which the company expects to continue growing in the future.
This positive momentum is also reflected in the EBITDA of each business unit individually: Intelligent Robots has obtained an EBITDA of €3.1 million, 35% higher than in the first half of 2022; Aerospace & Defence has obtained an EBITDA of €0.8 million, an increase of 60%; and Inypsa Civil Works has increased its EBITDA result by 500% to €0.6 million.
Airtificial has started its journey towards operational profitability in 2023 with the development of a new Group strategy based on the generation of intra-group, engineering, technology and manufacturing synergies between the three business units, which allow the Company to expand and improve its technological-industrial portfolio. In this regard, Airtificial already has a portfolio of signed contracts worth €191 million. Some of these contracts allow the company to enter into high-growth markets and sectors such as hybrid and electric vehicles, water management, new energy technologies, etc.
The improved outlook for the group’s was reflected in the stock market performance in the first half of the year. Firstly, the share price closed on 30 June 2023 at €0.099, 27% up from the closing price on the same day in 2022. The stock market value at the end of the first half of 2023 represented a market capitalisation of €132 million, 3.5% more than the €127.5 million in the same period of 2022. Secondly, the average daily trading volume in the first half of the year was 8.6 million shares, 579% higher than the average of 1.2 million shares in the previous year.
On the other hand, the Company continues to implement structural improvements to adjust to its business reality and volume. In this regard, the Board of Directors, chaired by Eduardo Montes, approved on September 6 to increase the functions of the Audit Committee and rename it the “Audit and Sustainability Committee”; and appointed director Silvia Iranzo to lead the implementation of the best ESG in the Company, as she did at Indra.
Airtificial’s CEO, Guillermo Fernández de Peñaranda, states that “during the remainder of 2023, Airtificial will build its momentum on three pillars: growth in all business lines, the outcome of the commitment to geographical and product diversification, and the transversality between units with a special focus on sustainability”.
Airtificial provides global and innovative design and manufacturing solutions for the automotive, aeronautics, infrastructure, and other industrial sectors, integrating advanced technologies, such as robotics and artificial intelligence that, together with human interaction, contribute to a more sustainable development. It has an operational presence in thirteen countries in the main markets of Europe, America, and Asia; and contributes to the digital transformation and the automation and optimisation of its customers’ processes in the industrial field through sustainable and competitive growth.
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