NAVYA (FR0013018041- Navya), a leading company in autonomous driving systems, announces a revenue of 10.2 M€ for the financial year ending December 31, 2021.
Sophie Desormière, CEO of NAVYA, stated: “Thanks to the technological fundamentals strengthened by experiments carried out in France and abroad in very diverse conditions, NAVYA offers a range of services for the transport of goods and people in line with the new urban mobility. Autonomous, zero-emission and level 4 systems respond to the ambition of cities to offer their inhabitants a sustainable, non-polluting and more fluid transportation system. In 2021, NAVYA has strengthened its technology and set the stage for the marketing of its solutions by signing technological and industrial partnerships with leading players. In 2022, NAVYA will capitalize on its partners and their distribution network to successfully launch the marketing of its level 4 autonomous driving systems”.
NAVYA sold 19 level 4 autonomous driving systems vehicles in 2021, compared with 23 in 2020, at a stable average price per vehicle between the two years. The EMEA region is the Company’s largest market, accounting for 59% of annual sales, ahead of the APAC region (36%). Revenues from the Vehicle activity thus amounted to €6.0 million. In total, the installed base exceeds 200 Autonom Shuttle vehicles deployed in 25 countries, representing an increase of +10% compared to the end of 2020.
As in the previous two financial years, the share of the Services activity, which includes revenues from the sale of licenses, supervision and maintenance, continues to grow (+23%), benefiting from the increase in the installed base. In 2021, Services will account for €4.1 million, or 41% of annual revenues, compared with 31% in 2020 and 19% in 2019.
Overall, the Company’s 2021 revenue is stable at €10.2 million.
2021 Milestones and Post-Closing Events
In 2021, NAVYA completed nearly 50 new deployments worldwide, enabling it to pursue its learning curve and increase its technological leadership in providing autonomous driving systems. The signing of strategic partnerships with leading players (BlueBus, REE Automotive and VALEO), and the upcoming presentation in March 2022 of the remote supervision offer for a fleet of shuttles (Shepherding), are decisive breakthrough towards the marketing of level 4 solutions. Regarding governance, the Management Board has been strengthened with the appointment of Sophie Desormière as CEO.
Business development
-1st autonomous shuttle service in Israel (closed site) and in the UK (open road);
-Acceleration of development in Germany in partnership with VALEO, SMO project (Shuttle Modell region Oberfranken);
-Partnership with BlueBus: development of a 6-meters-long autonomous electric bus as part of the EFIBA program (Emerging Autonomous Bus Industry) by France Relance;
-First deployment on open roads with a service commitment in Saint-Quentin-en-Yvelines;
Technological innovations
-Partnership with REE Automotive for the development of a level 4 autonomous system integrating REE corner technology;
-CE certification of the AUTONOM TRACT AT135 and launch of an experiment in real conditions with GEODIS on a car manufacturer’s site;
-Launch of a new version of the Navya Drive software with the best technological and industrial standards, redesigned functionalities for complex operations;
-Remote supervision of a fleet of autonomous vehicles (Shepherding)at the AUTONOMY PARIS exhibition on March 16 & 17, 2022;
-Development of a specific safety system for the marketing of level 4 autonomous vehicles in partnership with VALEO.
Cash position at €15.7million as of December 31, 2021
As of December 31, 2021, the Company had a cash position of €15.7million, compared to €19.8 million at the end of June 2021. As a reminder, NAVYA announced in July 2021 that it had secured €7.5 million in grants, as part of the France Relance programe specially, for four of its technological projects. To increase its financial flexibility and pursue its R&D investments, NAVYA also renewed in September 2021 its equity financing line with Kepler Cheuvreux, acting as financial intermediary and having committed to subscribe at its own initiative a maximum of 11,000,000 shares, i.e. an issue amount of €29 million.
Strategy and outlook
In 2022, NAVYA will continue its business development, including in new regions. The latest technological milestones, such as remote supervision, will be progressively deployed in targeted experiments with shuttles and logistics tractors. At the same time, NAVYA intends to strengthen its commercial partnerships at regional level to prepare the industrialization of autonomous driving systems and their marketing.