Parrot SA
PAR:PARRO
Parrot SA
Parrot SA operates as a drone company, which creates, develops and markets wireless products for the retail and professional markets. The company is headquartered in Paris, Ile-De-France and currently employs 440 full-time employees. The company went IPO on 2006-06-27. The firm designs, develops and markets consumer products for Smart-phones and tablets, as well as technology solutions in Automotive and unmanned aerial vehicle (UAV) business. Additionally, Parrot designs wireless multimedia products dedicated to sound, and explores new possibilities in Bluetooth Smart technology. The firm also offers a range of hands-free communication systems on the market for cars. The firm operates through its subsidiaries, including Parrot Inc. Parrot Italia Srl, Parrot UK Ltd, Parrot GmbH, Parrot Asia Pacific Ltd, Parrot Trading (Shenzhen) Ltd, Parrot Iberia SL, Parrot Japan KK, Chez Parrot SARL, Parrot Anz Limited, senseFly SA and Pix4D.
Parrot SA operates as a drone company, which creates, develops and markets wireless products for the retail and professional markets. The company is headquartered in Paris, Ile-De-France and currently employs 440 full-time employees. The company went IPO on 2006-06-27. The firm designs, develops and markets consumer products for Smart-phones and tablets, as well as technology solutions in Automotive and unmanned aerial vehicle (UAV) business. Additionally, Parrot designs wireless multimedia products dedicated to sound, and explores new possibilities in Bluetooth Smart technology. The firm also offers a range of hands-free communication systems on the market for cars. The firm operates through its subsidiaries, including Parrot Inc. Parrot Italia Srl, Parrot UK Ltd, Parrot GmbH, Parrot Asia Pacific Ltd, Parrot Trading (Shenzhen) Ltd, Parrot Iberia SL, Parrot Japan KK, Chez Parrot SARL, Parrot Anz Limited, senseFly SA and Pix4D.
Revenue Decline: Group revenue was hit by a 32% drop in consumer drone sales, with 413,000 units sold versus 604,000 in 2017.
Business Restructuring: Major reorganization of the consumer drone division implemented, including job cuts mainly in the US and Asia, costing nearly EUR 10 million in 2018.
Divestitures: Parrot completed the sale of its automotive business, generating EUR 108.5 million in proceeds and a capital gain.
Commercial Drones Mixed: Commercial drone segment grew 5%, with Pix4D up 19% and Micasense up 18%, but senseFly and Airinov had disappointing results.
Profitability Pressures: The group wrote down EUR 42 million in goodwill and faced significant operating losses.
Strong Cash Position: Year-end net cash stood at EUR 160.3 million, boosted by divestments.
2019 Outlook: Management expects further contraction in consumer drones but double-digit growth from commercial drone subsidiaries.
