AlphaValue Corporate Services Fundamental Analysis FR
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AlphaValue Corporate Services
This research has been commissioned and paid for by the company and is deemed to constitute an acceptable minor non-monetary benefit as defined in MiFID II

Drone Volt

CR
Bloomberg   ALDRV FP
Aerosp. & Defence Equipt.  /  France  Web Site   |   Investors Relation
Contract execution for a potentially record year
Pros
  • R&D effort to develop and commercialise in-house drone solutions and AI applications which will allow the company to improve its pricing power and profitability
  • Training is a key part of the strategy, where the development of a comprehensive regulatory framework should unleash demand for both drone and training
  • New sources of profitable growth through royalty-based partnerships, providing both USA-made drone stamps of approval and credibility in power line inspection
Cons
  • Nascent market, displaying high potential growth, but little visibility on contract timings and overall adoption of this technology
  • Very fragmented market, with a myriad of competitors, inevitable need for market concentration (via acquisitions or bankruptcies)
  • Supplier risk for distribution segment, heavily exposed to Chinese DJI with a risk of dependency and limited pricing power
Updates
08/12/21 EPSDrone Volt had signed two mega contract...
08/12/21 NAVAs we use EV/Sales multiples to value th...
08/12/21 DCFAs major contracts have been postponed,...
20/10/21 EarningsQ3 21: strong contract execution, as pro...
24/09/21 StrategyContracts signed in H1, cash expected in...
24/09/21 DCFDrone Volt has signed major contracts in ...
19/07/21 EarningsH1 21: strong growth in revenues, promis...
12/07/21 TargetDrone Volt has adopted a strategy to red...
12/07/21 NAVThe NAV has been negatively impacted b...
12/07/21 DCFEven if the cash generated through stock ...
24/06/21 M&A /Corp.Drone Volt sells 50% of Aerialtronics to p...
31/05/21 TargetThe target price has been slightly improv...
31/05/21 DCFThe DCF has been impacted by the anno...
28/04/21 Other newsQ1 21: strong growth in Q1 and major co...
19/04/21 EPSDilution of shares has caused a slight dec...
19/04/21 NAVThe NAV has been augmented due to a b...
19/04/21 DCFOnce again, the increase in our Aquiline ...
22/01/21 EarningsQ4 20: sharper COVID-19 impact though ...
21/01/21 M&A /Corp.Capital exchange with Aquiline Drones
22/12/20OpinionBuy vs Add
14/12/20OpinionAdd vs Buy
14/12/20 TargetWe have reduced our target price by 9%, ...
14/12/20 DCFOur DCF is lowered by €0.05 to €0.44, re...
12/11/20 M&A /Corp.Clearing all waivers ahead of structural p...
15/10/20 EarningsQ3 20: strong rebound in Q3, further imp...
14/10/20 Other newsConcretisation of the contract with Aquili...
12/10/20 The verge of a new era for Drones
Target
Upside 107%
Price (€) 0.09
Market Cap (€M) 23.6
Perf. 1W: -9.36%
Perf. 1M: -28.5%
Perf. 3M: -44.0%
Perf Ytd: -68.2%
10 day relative perf. to stoxx600: -13.7%
20 day relative perf. to stoxx600: -27.3%