We have updated our figures to include the trading update released yesterday evening, which has led us to review our sales and gross margin projections for 2025 and 2026. For 2025, we now forecast €8.8m in sales compared to €10.7m previously, and €3.6m in gross profits compared to €5.4m previously. For 2026, we now forecast a higher growth rate for the high-margin division Drone Volt Factory (150% to €6.7m compared to 110% to €9.3m previously) as part of the R&D contracts signed in 2025 seem to be executed with a delay and explained part of the underperformance in 2025. Despite this adjustment, we still forecast a lower sales figure of €15.7m vs €19.6m previously, and a lower gross profit figure of €8.9m vs €12.6m previously. In both years, the lower gross profit figures have a knock-on impact on net results, explaining the lower EPS for both years.
