Summary: Sales in the first quarter of 2024 fell short of expectations.
Recently, French autonomous forklift company Balyo released its financial report for the first quarter of 2024. The report shows that Balyo’s Q1 2024 sales amounted to 5.2 million euros (approximately 40.75 million RMB), a year-on-year decline of 27%. As of the end of Q1 2024, backlogged orders increased to 19 million euros, a year-on-year growth of 35%.
Balyo’s CEO Pascal Rialland stated, “The first quarter of 2024 reflects sales momentum below expectations and a decline in order volume, mainly due to unfavorable base effects. In fact, last year’s Q1 sales were boosted by commitments from Linde, which partly explains the decline in sales activities in Europe. However, the Americas and APAC regions remained resilient, resulting in a 35% increase in backlogged orders to 19 million euros in Q1 2024. Looking ahead, BALYO will focus on further achieving its business ambitions to restore growth, with an emphasis on direct sales to ensure commercial autonomy. With shareholder loans obtained from its major shareholder earlier this year, BALYO now has the financial means to carry out its activities and will maintain very strict control over its costs to preserve its cash position.”
