Primoco UAV sees “eightfold” business growth during lockdown

UAV Navigation and PRIMOCO UAV

Czech drone manufacturer Primoco UAV has announced a successful first half of 2020.

In spite of plummeting sales reported across almost every industry, the company has reported a year-on-year growth during the COVID-19 pandemic.

An almost eightfold increase compared to 2019 saw its revenues reach nearly CZK 10 million (£342,000) through the first and second quarters.

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Elsewhere, new contracts for the supply of aircraft abroad helped the company achieve operating profit.

In addition, Primoco is waiting for an export permit for other machines worth more than CZK 400 million (£13.7 million).

The start of deliveries is scheduled for the fourth quarter 2020, with full completion in the first half of 2021.

The company has therefore already started recruiting new employees, and it expects its production volume to more than double.

Co-founder and director Ladislav Semetkovský commented: “We are performing well thanks to the efforts of all the people on our team, despite the worldwide coronavirus situation and the complications of travelling to negotiate new business contracts abroad.

“We have signed the largest number of contracts since the establishment of the company in 2015. Five years after starting the company, we are in operating profit without any bank debt and after the expense of developing our own aircraft.”

Tags : financialPrimoco
Sam Lewis

The author Sam Lewis

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