EPS cut (2025: from € -0.05 to -0.06, 2026: from € 0.04 to 0.03) (Drone Volt)
EPS CHANGECHANGE IN EPS
2025 : € (0.06) vs (0.05) ns
2026 : € 0.03 vs 0.04 -6.00%
We have slightly reduced our assumptions for 2025 on the Drone Volt Factory, Services & Academy segment as they were no longer realistic at this stage of the year. We have notably reduced our sales for the services side from €4.658m to €3.699m and for the rest of the division from €4.866m to €4.409m. This was slightly mitigated by the distribution division, which suffered from a less severe decline in Q3 than we expected. We thus now forecast a sales figure of €2.5m for this division, compared to €1.9m previously. The impact on the gross result was thus limited to -€400k to €5.4m, which had knock-on effects on the EPS, as we did not change our other assumptions.
CHANGE IN DCF € 1.22 vs 1.39 -11.9%
Our DCF was impacted by the slight downward revision of our gross result (€-400k to €5.4m), following the different changes mentioned in the EPS section, which thus had an impact on the EBITDA for 2025 and the years beyond, as we only moderately lift our sales growth assumptions for 2026 on the factory side (+110% to €9.2m vs +90% previously), to make up for the expected increase in the sales of Drone Volt Kobra which is slightly delayed.
Drone Volt SA. Drone Volt SA is a France-based company principally engaged in the aerospace industry. The Company provides civilian drone manufacturing. It specializes in the production, integration and sale of drones for professionals. Drone Volt is a provider of the audiovisual market in the field of aerial photography by drone. The Company is also present in many other markets such as security and topography, among others. The Company's main product is the Pack PRO FOR GH4 S900. It cooperates with Ministry of Internal Affaires, Ministry of Defense, CERN, Gendarmerie Transports Aeriens (aerial transport police), Dakar 2015, Spie, TF1, Bouygues, CNRS, Bonne Pioche, RAID and GEDEON Programmes, among others. It operates through Dandrone.
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