CybAero, the Swedish developer and manufacturer of UAVs (Unmanned Aerial Vehicles), reported its H1 2014 report last Friday. Revenues reached SEK 20,8m while EBIT came in at SEK -10m. The company received a large milestone order only a few weeks ago which will take CybAero to a whole new level over the coming years so the numbers for H1 did not really mean too much. CEO Mikael Hult was confident in an interview with Swedish news agency Nyhetsbtrån Direkt that his company will report a profit during 2015.
“We expect to deliver a positive result in the near future. I do not want to give any guidance but during next year we should be in the black“, says Hult. “I am not worried that we reported red numbers in H1, it is actually better than planned. We are still in a situation focused on technical development and now we will work with market development.”
Cybaero received two large orders from China in 2014. The first, from the Chinese customs authority, will account for the company’s majority of sales this year and is worth around SEK 50m. Even more important was the second order for at least 70 systems from Chinese AVIC. This order is estimated to be worth SEK 700-800m over an 8 year period. Cybaero is now in the middle to adapt its operations to mass production. Says CEO Hult: “The delivery schedule is still not set in stone, but we hope that we can start to deliver during H1 2015.”
The AVIC-order is naturally also connected to substantial investments for Cybaero, not the least when it comes to personnel. Since the beginning of 2014, the total number of employees has increased from 23 to 39, plus a handful of consultants.
Continues Mr Hult: “So far, it has not been difficult to find qualified staff. The ones we hired during spring have all applied by themselves. But in the future, we might need to search more actively. I would not be surprised if we will be closer to 100 employees in year’s time.”
The AVIC-deal has not only created a lot of attention in the financial community but also among potential customers and the number of tender inquiries has increased since then, according to CEO Hult.