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A recent article published in French on NextInpact. I really like my Anafi and I hope Parrot overcomes its challenges.
Parrot : Henri Seydoux revient sur l'échec du drone Anafi et l'avenir de la société - Next INpact
Translated to English using Google Translator.
The year 2018 was particularly hard for the company, with a 28% drop in sales. The group nevertheless has more than 160 million euros in cash at December 31, 2018, thanks in particular to the sale of Parrot Faurecia Automotive.
In an interview with Les Echos, Henri Seydoux explains that the degradation of the results is explained first by the commercial failure of the drone Anafi, on which the group had "founded a lot of hopes". Problem: "We sold only one third of what we had planned."
The leader also returns to the OPA he launched on the entire group Parrot: "The value of the box has collapsed to become negative! I could not leave on the market a box that is worth three times less than its cash.As for the idea of looking for shareholders, Henri Seydoux does not turn around the bush: "in all lucidity, I think that we would not interest anyone [...] Financially, we have two years to redress the situation, otherwise c is finished for Parrot as we know it today. Our visibility is reduced, I understand that it is not a very attractive profile on the stock market.
On the other hand, "Parrot will not give up drones," he says. He also believes that the drone is a product of the future: "My concern today is the time he will put to meet his audiences."
Parrot : Henri Seydoux revient sur l'échec du drone Anafi et l'avenir de la société - Next INpact
Translated to English using Google Translator.
The year 2018 was particularly hard for the company, with a 28% drop in sales. The group nevertheless has more than 160 million euros in cash at December 31, 2018, thanks in particular to the sale of Parrot Faurecia Automotive.
In an interview with Les Echos, Henri Seydoux explains that the degradation of the results is explained first by the commercial failure of the drone Anafi, on which the group had "founded a lot of hopes". Problem: "We sold only one third of what we had planned."
The leader also returns to the OPA he launched on the entire group Parrot: "The value of the box has collapsed to become negative! I could not leave on the market a box that is worth three times less than its cash.As for the idea of looking for shareholders, Henri Seydoux does not turn around the bush: "in all lucidity, I think that we would not interest anyone [...] Financially, we have two years to redress the situation, otherwise c is finished for Parrot as we know it today. Our visibility is reduced, I understand that it is not a very attractive profile on the stock market.
On the other hand, "Parrot will not give up drones," he says. He also believes that the drone is a product of the future: "My concern today is the time he will put to meet his audiences."
