PRESS RELEASE Cholet, 7 may 2018, 5.45 p.m.
2016/2017: a year of strategic investments
2018: sales expected to take off
In its financial year 2016/2017, Octopus Robots, AgTech(1)a pioneer in the world of biosecurity, laid the foundations for its future growth.
Financial year 2016/2017 (18 months, from 1 July 2016 to 31 December 2017) was mainly characterized by a policy of sustained capital expenditure aimed at laying the basis for the expected surge in sales of decontamination robots in 2018.
Research & Development
Octopus Robots carried out some key technological developments to put the finishing touches to its robots in line with the needs of its target markets, especially that of the poultry sector.
The start-up accelerated its capital expenditure in order to bring production quickly up to capacity and doubled up on the safety of its robots with the use of 3-D printing for certain strategic parts.
Sales and Marketing
In the second half of 2017, Octopus Robots put in place an aggressive sales strategy in France and internationally designed to lead to the signing of key partnerships with the main agri-food groups having a strategic presence at the major trade fairs such as IPPE in Atlanta, GA, USA and Agrofarm in Moscow, Russia. In parallel with this the company launched a press campaign, on- and off-line, which appreciably raised its profile in France and led to its being referred to in the key professional poultry media internationally.
Octopus Robots carried out a number of successive fund-raising rounds for a total of €2.9 million with various European institutional investors. These funds allowed it to finance the R&D phase, the industrialisation of the decontamination robots and their sales launch in France and internationally.
Stock Exchange Listing
On 14 March 2018, the company successfully carried out its flotation on the Euronext Access, making Octopus Robots the first AgTech(1) to be listed on the Paris stock exchange. This stock exchange listing contributes to raising the company's profile on the world AgTech scene. The transaction also aims to give the start-up new levers of financing and to confirm its presence in the key markets.
Financial data 2016/2017
|€ 000s ||2016/2017 |
to 31 December
to 30 June
|Ordinary profit/(loss) before tax||(622.6)||(23.6)|
The 2016/2017 accounts also reflect the sustained policy of capital expenditure pursued in the financial year from 1 July 2016 to 31 December 2017.
Revenues came to €66,200 and corresponded to the first deliveries of robots. Capitalised production associated with the R&D work undertaken amounted to €1,070,900. This amount, amortised in December 2017, breaks down into €498,000 for prototypes and preproduction models and €572,000 for labour costs on R&D.
Operating profit/(loss) came to (€614,300). Apart from the charges associated with start of the industrialisation phase, this result also reflects the costs of trade fairs, marketing and sales roll-out in an amount of €342,000.
After taking account of a €193,300 tax credit for research, the net loss was (€430,400).
Thanks to cumulative capital of €2,900,000 equity stands at €2,267,900. The level of financial indebtedness is also well under control at €389,000 corresponding mainly to the acquisition of 3-D printers and a reimbursable advance granted by BPI for €210,000.
Cash and cash equivalents at 31 December 2017 stood at €700,000.
Outlook for 2018: a structure primed for growth
After several years of significant investment in R&D and intense technological vigilance, the AgTech now has an exceptional window of opportunity to become a leader in the field of biosecurity.
The Octopus Robots offering provides an effective response to the sanitary and veterinary challenges associated with the risks of contamination: spread of viruses, ever bigger treatment areas, the emergence of new constraining standards, etc.
Since the beginning of the current financial year, Octopus Robots has filed three new patents.
The sales efforts over the period are starting to bear fruit. In this regard, negotiations are under way with distribution networks in France, Eastern Europe, Gulf states and the USA.
Building on the success of its innovations at the major international trade fairs, particularly the scientific innovation award presented for the first time to a French company at the Agrofarm trade fair in Moscow, Octopus Robots has received numerous expressions of interest which should become firm orders in the second half of 2018.
To respond to this increased demand, Octopus Robots will be opening its new manufacturing facility at Cholet, Maine-et-Loire, in the second half of the year. This large modern facility will allow the production of robots and will constitute the first model of the “Octopus Centre” which will be rolled out in due course on other continents.
In this buoyant context, Octopus Robots reaffirms its confidence in posting strong growth in 2018.
The General Meeting of Shareholders will be held on 29 June 2018 in Cholet.
(1) AgTech: a company specializing in advanced technologies used in agriculture and the agri-food industry.
Press coverage: http://www.octopusrobots.com/presse/
About Octopus Robots – www.octopusrobots.com
Octopus Robots is a French AgTech specializing in the design, manufacture and marketing of mobile, multi-skilled and autonomous robots that use in-house artificial intelligence.
The robots are equipped with a patented system for decontaminating large premises (e.g. rearing sheds, agro-industries, buildings open to the public, airports etc.).
The solution effectively combats multi-drug resistant bacteria, pandemics and bioterrorism. It has multiple embedded sensors to ensure that the data is fully traceable.
Press pack: www.octopusrobots.com/presse/
Access Sub-Fund, Euronext Paris
ISIN code: FR0013310281, Ticker: MLOCT
Eligible for a French “PEA/PME” securities account for investment in SMEs