CybAero presents new strategic focus
The market for unmanned aerial vehicles has changed at a rapid pace in recent years. In light of this CybAero's management has been instructed by the Board to review how the company will best take advantage of the opportunities that the change entails.
CybAero is and shall continue to be Sweden's leading company within RPAS (Remotely Piloted Aircraft System), a market that is currently in rapid transformation. Within this framework, CybAero will adapt the business to the current conditions with a clear objective of becoming self-sufficient.
The market for unmanned aerial vehicles is in strong growth and in a changing phase. The biggest change is that civil service is growing ever stronger. CybAero has therefore decided to direct more resources to that area and to continue the development of APID One in parallel with this.
CybAero still sees great opportunities in future APID One sales, but by combining this with civil service assignments, it is estimated that we can reach revenues sooner. Many commercial civilian missions require approval from the Swedish Transport Agency and can therefore not be carried out by unauthorized operators. CybAero has a big head start since the company already has these licenses and organization.
CybAero is currently performing some civil service missions, and the assessment is that this area is gaining momentum and faces a strong expansion. Already today, the company faces an increasing share of requests for different types of civilian missions. CybAero has a structured aviation organization and will operate within all segments of unmanned aerial vehicles. It also means that the development of APID One can take place at a faster pace, because test flights can be combined with service assignments and also provide revenue to the business.
In the case of APID, CybAero will continue the sales efforts that has begun, but also to actively seek new business opportunities. However, the assessment is that no ADIP will be delivered to the customer in 2018. In addition to developing APID towards a user-friendly and robust aircraft, efforts will focus on adapting helicopters to future EU standards. The civilian, European aviation rules for RPAS are essentially already developed and CybAero's assessment is that the company's helicopters will be adapted to these in time by the year 2021 when the EU law begins to apply.
The continued development work and adaptation to future APID certification during 2018 means that we will have an updated product in the form of APID to deliver to customers during 2019.
CybAero has, with the latest financing proposal in collaboration with Alpha Blue Ocean (see PR 28/3/2018) funding for the year to come. In combination with revenue from services, the assessment is that the financial position of the company is sufficient to implement the strategy now established. In order to keep costs down while developing products and services, CybAero will, to a greater extent than before, work to seek co-operation and co-financing in our development processes.
Assessment of the future
CybAero's assessment is that a significant part of the company's revenue in the coming years will come from the civil service market. The company's ambition, however, is that the long-term source of income comes from proprietary unmanned airplanes seen from a life-cycle perspective.
For more information, please contact:
Tommy Magnusson, CEO
Phone: +46 (0)13-465 29 00
This information is information that CybAero AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:35 CET on 17 april 2018.
Web: www.cybaero.se Videos: www.youtube.com/cybaero
CybAero develops and manufactures Remotely Piloted Aircraft Systems (RPAS) for safer and more effective aerial operations in various environments, including those hazardous in nature. The company has made a great international impact with its APID One helicopter, which can be adapted for both military and civilian applications such as coastal and border surveillance, search and rescue missions, and mapping. CybAero’s head office is located in Mjärdevi Science Park in Linköping, Sweden. The company has been listed on the NASDAQ First North since 2007. FNCA Sweden AB is the company's certified adviser.