Parrot, one of Europe’s leading drone groups, has reported that its commercial division was one of its most successful business avenues for the last financial year.
The company, which offers business solutions and consumer models, reported that its commercial drone revenues increased by 36% following a renewed focus on the division.
While the company was able to post a substantial spike in its commercial division, as well as a 5% growth in its global drones revenue, it confirmed a decrease of 9% in group revenue with net cash of €115.4m (£82m) to December 31.
The group’s business-based division, which was accountable for 27% of Parrot’s annual revenue, holds solid positions in three strongly-developing vertical markets.
Parrot has launched four multi-capability drone solutions designed to meet the needs of small and medium-sized businesses in these three core vertical markets; precision farming, 3D mapping, geomatics and inspection, and security.
Parrot has further strengthened the leading positions established by its subsidiaries, senseFly, Pix4D, for high precision drone-based data collection and analysis and put in place additional services and guarantees that are aligned with the needs of key accounts, which are now incorporating drones into their day-to-day operations.
Parrot has also developed its service activities: Parrot Air Support provides professional drone, data engineering and consulting services covering all infrastructure lifecycle phases. Parrot Airinov has continued to develop its business covering agronomy services and advanced data analysis for precision farming. This subsidiary is the market leader in France and has launched its international development, through various missions in Africa.
Alongside its financial report, the company stated it is effectively positioned to move forward in 2018 with a determined and engaged approach.
Henri Seydoux, chairman and CEO and Parrot’s main shareholder, stated: “In 2017, we experienced a delicate period, but one which will be beneficial for the Parrot Group’s future. We completely rethought our R&D, suspended our consumer product launches, carried out an in-depth review of our distribution strategy, and supported the ramping up of our business solutions. After significantly scaling back our costs, we have also recruited new talents to accelerate the development of our business solutions and further strengthen our brand image.
“Parrot is now an end-to-end drone group and the leading European: from consumers to professionals, from hardware to software and services, across three vertical markets: precision farming, 3d mapping, geomatics and inspection, and lastly security.
“With this more competitive, dynamic and solid configuration, we will be innovating over the coming months and will continue to develop both of our activities.”