NAVYA presents its new strategic orientations and announces its half-year revenues

NAVYA , a company in autonomous driving systems, presents its new strategic orientations and announces its revenues for the first half of 2019.

H1 2019 highlights

· New Governance with the appointment of Étienne Hermite as CEO

· Drawing of the €15 million tranche A of the financing agreement signed with the European Investment Bank

· Signing of a Memorandum of Understanding with ESMO to address the North-East Asia market and commitment to subscribe to bonds repayable in cash and/or into new and/or existing shares (ORNANE bonds) for a total consideration of €20 million

· Signing of a Memorandum of Understanding with ESMO and SK Telecom to jointly develop an autonomous driving technology notably via a 5G network

A more targeted market whose take-off will be longer than initially anticipated

NAVYA considers that the autonomous shuttle market will remain an experimentation market for the 24 months before a take-off linked to the removal of the safety driver

Level 41 autonomous driving systems for the first and last mile in a geo-fenced area at low speed should be the first to be rolled-out for passenger transport, as well as for vehicles for logistics and industrial use

Autonomous driving systems remain strongly supported by the many public initiatives promoting new mobility solutions and by significant public and private funding

New strategic orientations

· Validation of the positioning of NAVYA’s Autonom Shuttle, which provides a level 4 autonomous driving solution for the first and last mile in a geo-fenced environment at low speed

· Integration of this autonomous driving solution, comprising NAVYA Drive software and NAVYA sensor architecture, on third-party platforms, such as the Autonom Tract developed with Charlatte

· Development of technological, industrial, distribution and local support partnerships for some services (low-level maintenance, supervision, commissioning)

· Reduction of sales and marketing costs excluding these partnerships

· Maintain shuttle production during this transition phase

In a market that is still in an experimentation phase, NAVYA is not maintaining its 2019-2021 financial targets announced during its IPO and focuses on the following operational objectives:

· Test of Autonom TRACT, developed with Charlatte, in H2 2019

· “Full autonom” Shuttle and TRACT tests in H1 and H2 2020

· Roll-out of NAVYA’s technology on 1 to 2 additional third-party platforms in 2020

H1 2019 revenues

Revenues of €6.1 million in H1 2019 (vs. €9.0 million in H1 2018), of which €1.2 million for Services (+31% vs. H1 2018)

Source: https://www.businesswire.com/

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