Tonner Drones Publishes Half-Year Results
Tonner Drones (FR001400H2X4 - ALTD) (the “Company”) has published its half-year financial results for the period from
Following this AGM, the new board immediately began to restructure the Company to remedy the absence of a clear business model, and excessive cash burn rate (the “CBR”). Significant measures were implemented in the second half of the year to make the Company viable. All previous staff members, except one, were replaced. The lease for the oversized and overpriced offices was terminated, the premises were vacated, and operations relocated to more affordable and appropriately sized premises in
The Company also holds minority stakes in four promising drone companies and those will be actively managed to create value for Tonner Drones’ shareholders in 2024, either through joint ventures or capital increases, partnerships with other minority shareholders, or exits.
Sales to | Operating income to | Net income to |
88,216 | (2,751,918) | (8,829,451) |
All write-offs taken on the balance sheet are non-cash events.
Tonner Drones’ restructuring is scheduled to be completed by
1) UDT UNITED DRONE TECHNOLOGIES SAS (894 015 940 RCS
2) DELTA DRONE EXPERTS SAS (843 003 484 RCS
3) TECHNI DRONE SAS (791 372 600 RCS
4) MTSI SAS (435 029 780 RCS
5) TONNER DRONES SAS (922 212 469 RCS
Tonner Drones’ management is focusing its attention on markets of the future, particularly in the defense and homeland security sectors. Towards those ends, a partnership with Ukrainian military drone manufacturer Techaviacom was announced on
The results published today focus on the first half of 2023. However, the Company would also like to make it clear that in the second half of 2023, it has had to incur significant legal costs in implementing the restructuring. As a result of these additional legal costs, shareholders should anticipate a loss for the second half of 2023.
As significant shareholders in the Company, management continues its commitment to eliminating variable pricing financing instruments by meeting its obligations towards
About Tonner Drones: Tonner Drones (formerly
Tonner Drones’ shares are listed on Euronext Growth Paris (ISIN code: FR001400H2X4).
More information at www.tonnerdrones.com
If you would like to find out more, or if you are interested in a partnership: contact@tonnerdrones.com
Tonner Drones shares are listed on Euronext Growth Paris (ISIN code: FR001400H2X4).
More information at www.tonnerdrones.com
If you would like to find out more, or if you are interested in a partnership: contact@tonnerdrones.com
Contact
Actifin Jean-Yves BARBARA Financial communication jybarbara@actifin.fr +33 (0)1 56 88 11 13 | Actifin Press Relations amelie.orio@seitosei-actifin.com +33 (0)1 56 88 11 16 |
1https://tonnerdrones.com/wp-content/uploads/2023/06/DeltaDrone_CP_closing_07.06.2023_VD.pdf
2https://tonnerdrones.com/wp-content/uploads/2023/09/2023-09-27_Delta-Drone-signe-un-accord-de-vente-et-dachat-avec-Techaviacom_Vdef.pdf
3https://tonnerdrones.com/wp-content/uploads/2023/09/DeltaDrone_CP_DeltaDrone_Yorkville_27.06.2023_EN__VD.pdf
Attachments
- Half year results -Final English PR 29.12.23[10]
- Half year results -Final English PR 29.12.23[10]
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