Semi-Annual Report January – June 2017 CybAero AB (publ)
January 2017 – June 2017 period
• Net sales: SEK 652 thousand (SEK 1.1 million)
• EBITDA: SEK -28.0 million (SEK -41.2 million)
• Operating loss: SEK -34.9 million (SEK -47.8 million)
• Loss after tax: SEK -35.1 million (SEK -49.6 million).
• Earnings per share: SEK -0.58 (SEK -1.57)
Message from the CEO
The first half of 2017 was characterized by much work to complete the FATs (Factory Acceptance Test) on the premises of Jolly, our client in China. In the spring, our board chairman, Michael Auerbach, took on a leading role in our efforts to finalize this deal.
The period was also characterized by various cost cutting programs involving the whole company. This improved our bottom line and created greater cost awareness.
Our sales activities have been intensive, including a number of visits from potential clients. These include visits from United Nations representatives, to whom we quoted service missions where we fly in war-torn areas and drop off medicine using packages equipped with parachutes. As a result, a successful test campaign involving the APID system was conducted where we dropped packages with parachutes from a low altitude.
Air Services was started and completed filming and radiation detection projects. These projects were conducted with smaller drones purchased externally, or the client's own aircraft was used.
We also developed a system customized for fire and rescue services with a very user-friendly control panel and integrated an IR camera. The platform is based on the DJI Mavic.
The first system was recently sold to the Motala Fire Department. This system will be demonstrated for the first time on September 14 at Skånsk brandskyddsdag in Revinge and on September 27 at Skadeplats2017 in Helsingborg, where we will exhibit with a major fire material wholesaler. We will also exhibit at the World Drone Expo in San José/Silicon Valley in October. We think this system will serve as an excellent complement to the APID system and generate rapid sales.
In 2017, the company also finished designing its container concept, a mobile platform from which it will be possible to perform missions with our systems. This will result in significantly greater flexibility and the ability to operate independently from locations lacking stable infrastructure.
We are currently engaged in a number of procurement processes with our APID system. These procurement processes have long lead times, but we are hopeful about the future and see great opportunities ahead.
CEO, CybAero AB
For full report see attached pdf or on our website, www.cybaero.se.
Michael Auerbach, Chairman of the Board
Telephone: 013-465 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 15.00 CET on August 25 2017.
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 the Mjärdevi Science Park in Linköping, Sweden. The company has around 45 employees and has been listed on the Nasdaq First North since 2007. FNCA Sweden AB is the company's certified adviser.