Airtificial makes artificial intelligence profitable
Airtificial translates its own artificial intelligence technology into good financial results. The Company has closed its first full operating quarter, after the ringing of the bell on November 26, in positive terms: in profits, with revenues of 21 million euros and an EBITDA of 0.4 million. It should be noted that half of the turnover comes from the Intelligent Robots business line, which has managed to enter 10.8 million in three months with the manufacture of collaborative robotics equipped with artificial vision for the automotive sector, specifically for car steering assembly lines. In addition, the order book, already signed, for the rest of 2019, exceeds 63 million which gives excellent visibility for the whole year. In addition, the Company has achieved a fast and solid positioning in artificial intelligence that allows it to operate in those sectors with greater growth potential.
Intelligent robots increase their income
Of Airtificial’s three business units, Intelligent Robots is the most prominent in the first three months of the year. In this line of activity, collaborative robotics and artificial vision are becoming increasingly important in turnover and is expected to be above 15% in 2019 as a whole. Essentially, Assembly and Test Lines have been sold to Tier 1 customers in the automotive sector. The performance of the plants in Mexico, Spain and Poland was much higher than expected.
The market for collaborative robots today is $710 million and is expected to grow to more than $12.303 billion in 2025, representing a compound annual growth rate of 50.1%.
The Aerospace & Defense business unit is on track with revenues of more than 6.0 million euros and orders are expected to increase in the coming months. The Company’s financial results in this line of business in the first quarter are conditioned by the seasonality of the aerospace sector, with a more positive outlook for the rest of the year.
On the other hand, this Civil Works, with revenues of 4.2 million euros and a figure of contracting for 2019 that gives very good visibility for the whole year. In this business unit we must highlight the pioneering projects of sensorization, storage and data analysis for the management of water resources..
More than 180 million in order backlog
The three business units are prepared to absorb significant growth in the coming years thanks to their technological capabilities and new solutions. The Company currently has an order book worth more than 182.1 million euros, which gives it excellent visibility for the future.
The Company has a net worth of 123 million euros and a working capital of 15.4 million euros, evidencing a sound balance sheet structure that allows it to finance the growth of its activity.