Drone Volt

ISIN : FR0013088606

Aerosp. & Defence Equipt.

Banking on services and European roots

Opinion	Target Price	Upside	Price	Market Cap	Bloomberg Code	Investors Relation
Buy	€ 0.88	83.2%	€ 0.48	€M 20.0	ALDRV FP	Click here

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Analyst reports

Date	Title	Research
07/05/2025	Our EPS for 2024 was impacted by the lower number of shares than expected (20.1m vs 20.5m) as the effective timing of the last capital raising announced in December 2024, came later than expected. Our	Download
22/04/2025	We have updated our DCF to include the faster-than-previously-expected decline in the distribution segment. We now forecast a 85% decline to €4.2m over 2025 compared to our previous forecast of a 70%	Download
17/04/2025	Q1 '25: A confirmed change in business model	Download
31/03/2025	Our 2025 EPS forecast has benefited from the higher average number of shares in 2025 (+9m to 39m) resulting from the €5m capital raising and the subsequent expected exercise of the share purchase warr	Download
25/03/2025	Our EPS for 2024 have been affected primarily by the impairment of the Aquline drones stake (€3.4m impact) that we had not anticipated, a higher-than-expected tax level (c.€1.6m) and the higher D&A (€	Download
24/03/2025	A better-looking FY24 release than it seems	Download
17/01/2025	Integrating the FY24 trading update	Download
16/01/2025	FY 24: A rapid strategic change undertaken	Download
17/10/2024	Decent Q3 results	Download
24/09/2024	Drone Volt unveiled promising H1 24 results	Download
16/07/2024	Lower profitability incorporated	Download
12/07/2024	H1 24: Encouraging trajectory	Download
26/06/2024	Eurosatory takeways	Download
19/04/2024	Drone Volt on the move	Download
26/03/2024	Drone Volt ready for new growth phase	Download
30/01/2024	New annual sales record and new capital increase	Download
29/01/2024	We have incorporated the impact of the dilution following the new capital increase of c.€2.5m, which is the main reason for the decrease in our target price. This impact was mitigated by forecasting h	Download
20/10/2023	Ambivalent Q3 results	Download
18/09/2023	H1 23: the beginning of the awaited resurrection	Download
18/09/2023	Our DCF, and consequently the target price, will be impacted by a higher capex of €4m against €3.35m previously expected to take into account the efforts on developing the new family of drones. We hav	Download
17/07/2023	H1 23: Strong growth backed by Drone Volt’s operational efficiency	Download
07/06/2023	A capital increase to support a high-growth phase	Download
07/06/2023	Dilution from the €4.9m capital increase decided by Drone Volt compared to a €13.1m market cap has impacted the NAV per share	Download
25/04/2023	Drone Volt confirms its annual targets after strong Q1-23 growth	Download
24/04/2023	The NAV has been negatively impacted due to Drone Volt’s capital increase of €4.7m at the end of March and the €3m raised through earlier equity lines, which have increased the number of shares from 6	Download
11/04/2023	FY22: Take-off to double turnover	Download
05/04/2023	The downgrade to our EPS FY22 reflects the kitchen sinking of the business associated with Aquiline amortization of all receivables, as well as 2/3rd of the Aquiline Drone shares (€1.7m), which led to	Download
15/02/2023	Another record year for sales	Download
24/10/2022	Q3-22: massive momentum in distribution	Download
12/10/2022	H1-22 Model Update	Download
27/09/2022	From product manufacturer to service provider	Download
26/07/2022	H1 22: SKYTOOLS, another successful bet	Download
18/05/2022	Could the French government be a new major customer?	Download
26/04/2022	Q1 22: integration of the acquisitions is progressing	Download
24/03/2022	All eyes on Aquiline Drones	Download
22/03/2022	Q4 21: getting closer to break-even	Download
01/02/2022	Q4: record sales, though a slight disappointment	Download
28/01/2022	Q4 21: best sales in its history	Download
13/12/2021	€8.8m capital increase gives 12 convertible-free months to investors	Download
08/12/2021	Postponed contracts lead to a target price decrease	Download
20/10/2021	Q3 21: strong contract execution, as promised	Download
24/09/2021	Contracts signed in H1, cash expected in H2	Download
24/09/2021	Major contracts pushes to the right	Download
19/07/2021	H1 21: strong growth in revenues, promising H2 ahead	Download
12/07/2021	More shares, less debt	Download
24/06/2021	Drone Volt sells 50% of Aerialtronics to partner at a high valuation	Download
31/05/2021	Major Contracts to double sales	Download
28/04/2021	Q1 21: strong growth in Q1 and major contract win will stimulate FY21	Download
19/04/2021	COVID-19 delays profit and growth	Download
22/01/2021	Q4 20: sharper COVID-19 impact though the dynamic is improving rapidly	Download
21/01/2021	Capital exchange with Aquiline Drones	Download
14/12/2020	We have reduced our target price by 9%, reflecting the additional amount of equity created compared to our initial estimates. The two recent capital increases, i.e. in November plus the one reserved f	Download
12/11/2020	Clearing all waivers ahead of structural partnership with Aquiline Drones	Download
15/10/2020	Q3 20: strong rebound in Q3, further improvement expected in Q4	Download
14/10/2020	Concretisation of the contract with Aquiline Drones	Download
12/10/2020	The verge of a new era for Drones	Download