Investors in shares in Czech drone manufacturer Primoco UAV have seen their money almost double in value in only one year. The company which has a factory in Radotín, near Prague, was ahead of global brands like Airbus, Boeing, Lockheed Martin, Northrop Grumman and Leonardo in terms of the growth in its share price. The first prototype of the now successful One 150 was built just eight years ago and yearly sales of the production model started at single digits. A significant breakthrough came with the war in Ukraine.
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The main shareholders of Primoco UAV SE sold 120,000 shares through the Prague Stock Exchange START market today, increasing the company's free float by more than 2.5 percentage points to almost 18%. With this move, the company has brought its free float closer to the 25% threshold that the exchange generally recommends for publicly traded companies.
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Primoco UAV more than doubled its sales year-on-year to CZK 213.4 million in the first half of 2023. EBITDA was over CZK 100 million for the first time in the company's history and it also more than doubled compared to the same period last year. Demand for Primoco UAV products and services continues to grow and, following the favourable financial results and the outlook for the future, the market capitalization of the company, whose shares are listed on the START market of the Prague Stock Exchange, is also growing. Since the beginning of the year, the share price has increased by more than 75% to CZK 720 per share. The market value of Primoco UAV is almost CZK 3.5 billion.
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Czech UAV manufacturer Primoco UAV SE executed a Memorandum of understanding with Airbus Defence and Space and its affiliate, Airbus DS Airborne Solutions, on cooperation in the area of unmanned aerial systems.
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Primoco UAV increased EBITDA by 510% year-on-year to a record CZK 65.9 million in the first quarter. In the first three months of this year, the Czech manufacturer of unmanned aircraft reported sales of CZK 103.1 million, representing a year-on-year growth of 475%, according to preliminary and unconsolidated data. Since the beginning of the year, the company has won new orders, thanks to which it is on track to meet its goal of signing new contracts of CZK 1 billion in 2023.
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Primoco UAV, Czech UAV manufacturer, has signed a contract to supply a new NAVAID calibration system. The innovative solution used by the reliable Primoco UAV One 150 UAVs is being purchased by the Malaysian company GIAAN GROUP. GIAAN plans to use the system which is suitable for the inspection, calibration and evaluation of a variety of airport navigation equipment such as ILS/VOR/DME/TACAN/COM, as well as visual tools such as PAPI/VASI, to perform calibration missions at airports in the Southeast Asia region. The value of the contract, including two One 150 UAVs, amounted to EUR 3.7 million.
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Primoco UAV SE has announced a new contract for the supply of unmanned aerial vehicles. The Czech manufacturer will deliver machines with an aggregate value of EUR 2.35 million to a European customer.
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The purchase or sale of securities of Primoco UAV SE, the Czech manufacturer of unmanned aerial vehicles (UAVs), will be more accessible to retail investors as of 30 January 2023. The Prague Stock Exchange will reduce the basic investment volume (lot size) for this title on the Start market to 10 units, which at the current rate corresponds to CZK 4,100.
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Primoco UAV SE, Czech UAV manufacturer, has announced a signature of a new contract for the delivery of 5 Primoco One 150 UAVs to a European client with a total value of EUR 3.65 million.
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Primoco UAV SE, Czech UAV manufacturer, today announced the signature of a new contract for the delivery of 8 One 150 Unmanned Aerial Vehicles. The value of these transactions is EUR 6.8 million.
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Expanding the sales of Czech UAV manufacturer Primoco UAV SE into new markets will now be driven by David Jirman who will work together with the company's CEO Ladislav Semetkovský and Sales Director Jakub Fojtík.
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Primoco UAV SE, Czech manufacturer of civilian and military aircraft, appointed Colonel of the General Staff (Retired) Ing. Vladan Ševčík as a member of the Supervisory Board following the resignation of Ing. Josef Rada. The decision to appoint a new member of the Supervisory Board was made during the General Meeting of the company at its registered office on 26 April 2022.
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Primoco UAV SE significantly increased its revenues in Q1 2022 and achieved results in line with its business plan. "We have managed to significantly increase sales in the first quarter of 2022. At the same time, we have acquired a new client, who has an opportunity to exercise an option for the delivery of another twenty unmanned aircraft," said Ladislav Semetkovský, CEO. "In the second quarter, we expect to sign a contract in South America, where we won a tender for the delivery of 3 UAVs this year. This is the first contract in this region. In addition, we anticipate signing a contract with two European clients for the delivery of 4 aircraft and a contract in Africa for the delivery of 4 aircraft in 2022. In total, we plan to sell 40 unmanned aircraft in 2022."
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Primoco UAV SE announces that it has ceased its activities in the Russian Federation as of January 31, 2022 and sold 100% of its shares in its subsidiary AO Primoco BPLA. The only reason for this decision is the sanctions regime against the Russian Federation and the impossibility of obtaining the export license needed to operate its drones. In the local market, the company focused exclusively on providing aerial work, DaaS services (drone-as-a-service), in the civil sector.
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Primoco UAV SE has been granted a Light Unmanned Certificate (LUC) in the "Specific" category for the Primoco UAV One 150 by the Czech Civil Aviation Authority on 11 February 2022, in accordance with European Regulation (EU) 947/2019.
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Czech-based Primoco UAV SE and Swiss-Swedish UMS Skeldar have teamed up as part of a cooperation agreement to provide selected customers with a combination of the Primoco One 150 fixed-wing and UMS Skeldar’s V-150 rotary wing unmanned aerial vehicles (UAVs). Enabling organisations the versatility to use both platforms as part of their missions, this agreement is a significant step forwards in terms of how UAVs can be used to form one solution.
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Primoco UAV SE, a Czech company that develops and manufactures the One 150 UAV, successfully flight tested the simultaneous control of multiple unmanned aircraft from one control station at their airport in Písek Krašovice on 20 October 2021.
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Sales of the Czech manufacturer of unmanned aerial vehicles Primoco UAV SE reached CZK 12.8 million in the first half of this year and increased by 34% compared to the same period in 2020. Since January, the company has been able to start negotiations for new contracts in new markets, but due to pandemic restrictions limiting travel, these activities have been complicated and delayed. Primoco UAV SE is also restrained by the speed of the bureaucracy in parts of the state administration in the Czech Republic, especially the Civil Aviation Authority, in connection with the issuance of the necessary certification required by European legislation. This limits the speed of expansion which the company needs to meet the growing demand for its unmanned aircraft.
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PRIMOCO UAV SE, a Czech company that develops and manufactures civilian and military unmanned aerial vehicles, has successfully tested the emergency parachute ballistic landing system at the factory airport in Písek - Krašovice.
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The Czech company PRIMOCO UAV SE received CZK 90.5 million from investors on the Prague Stock Exchange to finance its further development. The Czech manufacturer of unmanned aircraft issued 364,200 new shares. The newly subscribed shares represent almost 8% of the company's share capital.
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Investors have until May 17 to participate in the subscription of new shares of the Czech unmanned aerial vehicle manufacturer Primoco UAV. Traded on the Prague Stock Exchange START market, the company aims to raise up to 170 million crowns to accelerate the company’s development. In the first round, only existing shareholders were allowed to take up the share offer under their pre-emptive rights. Now, the subscription is open to any investor. The price range in the second round was set at 260 to 360 crowns per share, while the current Primoco UAV share price on the START market is 358 crowns. This corresponds to an appreciation of 49% since the beginning of this year.
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Primoco UAV, the Czech manufacturer of unmanned aerial vehicles, has today launched a secondary share offering of a total of 655,300 new shares, which corresponds to more than 13% of the company's capital after the subscription is completed. The net total proceeds of the issue if all offered shares are subscribed will be up to CZK 170 million. This is based on the company’s prospectus (download HERE) approved last week by the Czech National Bank.
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Stávající akcionáři jsou ve smyslu ustanovení § 484 odst. 1 ZOK oprávnění upsat Nové akcie v rozsahu jejich podílu na základním kapitálu Společnosti tak, že na každých stávajících 7 akcií je možné upsat jednu Novou akcii;
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Primoco UAV, the Czech manufacturer of unmanned aerial vehicles, has taken an important step to expand its business in the Gulf countries. Together with the Saudi company Middle East Systems & Technology (MEST), it has signed an agreement for regional representation and the creation of a joint venture. Through this company Primoco UAV, whose shares are traded on the START Programme of the Prague Stock Exchange, not only wants to attract new clients for its unmanned aircraft in the Middle East, but also to build a service and training centre in Saudi Arabia.
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The Czech producer of unmanned aerial vehicles Primoco UAV SE and Norwegian Special Mission (NSM), provider of airport calibration solutions, introduced a brand new and highly innovative NAVAID calibration system based on the Primoco One 150 UAV and NSM UNIFIS 1000 calibration system. Preliminary analysis suggests that the system is well suited for inspection, calibration and evaluation of a wide variety of airport navigation equipment such as ILS/VOR/DME/TACAN/COM as well as visual systems such as PAPI/VASI. The system is built around the UAV One 150 and UNIFIS 1000 elements, using proven receiver and antenna technology from conventional flight inspection aircraft, which is a new stage for the industry.
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Primoco UAV SE was recognized by the Department of Military Aviation Supervision of the Ministry of Defence of the Czech Republic as an approved production and development organization. The granting of both authorizations is the completion of the first stage of the company’s long-term preparation for obtaining a military type certificate for the Primoco UAV One 150M aircraft.
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IMSAR and Primoco UAV have successfully performed integration and preliminary flight testing of the NSP-7 Synthetic Aperture Radar on the Primoco One 150 UAV. Live flight tests in the Czech Republic verified the aircraft performance and confirmed flight endurance of up to 10 hours.
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Revenues of Primoco UAV SE, the Czech unmanned aerial vehicle manufacturer, reached almost CZK 10 million in the first half of 2020. They increased almost eightfold year-on-year. New contracts for the supply of aircraft abroad helped the company achieve operating profit. In addition, Primoco is waiting for an export permit for other machines worth more than CZK 400 million.
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Primoco UAV SE, the Czech manufacturer of civilian umannned vehicles, has expanded its Supervisory Board and Brigadier General (retired) Ing. Josefa Radu became its Member. The decision to expand the Supervisory Board was made by the General Meeting of the company at its registered office on 8 July 2020 with the participation of invited guests from the state administration and industry.
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