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Airtificial makes artificial intelligence profitable

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10/May/2019 | Noticia

  • The Company obtains revenues of 21 million euros, an-EBITDA of 0.4 million and starts with profits in its first quarterly results as a result of the Efficiency and Optimization Plan. After the bell ringing made on November 26, Airtificial presents its first quarterly operating results.
  • The Intelligent Robots business unit’s turnover exceeds 10.8 million in the first three months of the year, mainly from the manufacture of collaborative robots, equipped with artificial vision, for companies in the automotive sector. Airtificial has pioneering technology in this field for assembly lines and testing of car parts.

Madrid, May 9, 2019. Airtificial, the only Spanish company listed for artificial intelligence, is promoting an Efficiency and Optimization Plan that focuses on profitability and the generation of operating cash that is already bearing fruit, as evidenced by the evolution of its financial figures. Thus, the Company closed the first quarter of the year, its first full operating quarter after the ringing of the bell on November 26, in positive terms, with revenues of 21 million euros and an EBITDA of 0.4 million euros. Half of the turnover comes from the Intelligent Robots business line, which has managed to enter 10.8 million in three months with the marketing of collaborative robotics for the automotive sector. In addition, the order book, already signed for the rest of 2019, exceeds 63 million which gives excellent visibility for the whole year.

The president of Airtificial, Rafael Contreras, affirms: “The Company starts with strength. The financial figures for the end of the first quarter of 2019 confirm that our business and technological vision is correct. As Spain’s first and only listed artificial intelligence company, we foresee a better global positioning as a company, an even better future in order to generate value for our shareholders”.

Since the ringing of the bell on November 26th, Airtificial has focused on executing all those processes that allow the optimization of all its production centers in order to gain efficiency and maximize profitability from the beginning. The fruit of this new business policy has been seen in the short term and, at the end of the first quarter of the year, Airtificial makes profits. Additionally, it has achieved a positioning in artificial intelligence that allows it to be part of those sectors with greater growth potential for the coming years.

Intelligent Robots accounts for half of turnover

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 per cent.

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 water resources management.

The Company’s CEO, Borja Martínez-Laredo, said: “The results of the first quarter of the year ratify us in our roadmap. We are working on the right path, internal indicators are good and mark that the evolution of the Company is even better than expected.”

More than 180 million in order blacklog

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 provides 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.

Contact: Almudena Estéban

915 76 52 50

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