Hello, reasons for the crash of the manned aircraft at the recent presentation for PSE? Human error or mechanical failure? What does it imply?

Primoco UAV SE recorded two flight accidents at the factory airport at Písek – Krašovice this year. Both were duly investigated and concluded by the Air Accidents Investigation Institute. The first accident occurred during the testing of our company’s new technologies, and one unfortunately during a presentation for PSE. This was caused entirely by human error, with the pilot attempting to take off while the crosswind component exceeded the maximum safety level. As CEO, I would like to state that the Primoco UAV One 150 is one of the best aircraft in its category in the world in terms of its technological sophistication; the aircraft is the only one in Europe to receive military certification according to NATO STANAG 4703 and Primoco UAV SE is now expecting to be first in the Czech Republic and third in Europe to be certified according to EASA LUC (Light Unmanned Certificated). The safety of our drone and air traffic is a top priority. Our aircraft fly thousands of times every year, not only in the Czech Republic, but elsewhere in Europe, Asia, Africa and the Middle East. In the Czech Republic alone, we completed over 1,500 flights in the development process and were naturally exposed to an increased risk of air accidents. It is a paradox that there are more than 900 professional operators of drones (usually small electric multicopters) in the Czech Republic, and over the past few years not a single air accident or incident has been reported by these operators to the Air Accidents Investigation Institute. I can state with full responsibility that Primoco UAV SE fully and unreservedly complies with Czech and international aviation regulations, thanks to which it has successfully passed many audits and has been approved by the Ministry of Defence of the Czech Republic as a design and production organization for military aviation technology (DOA/POA), etc.

In April, you planned the sale of 18 aircraft to six customers in 2021 for a total of CZK 300 million. Is this outlook still valid? For the first half of this year you only reported sales of CZK 13 million

Yes, this plan is still valid. We takes sales forecasts very seriously. On the other hand, I must personally admit that predicting sales of a commodity like a professional drone is very complicated, especially because our future customers are often government agencies (Ministry of Defence, Ministry of the Interior, Coast Guard, or Intelligence Service), and we have no say in the customers’ adherence to the anticipated timetable. The key information that I would like to communicate to our current and future shareholders is that Primoco UAV SE has no liabilities, no bank loans, and that it owns the complete know-how for the development, production and operation of its aircraft. The company is fully export-oriented, follows strict rules controlling the sale of military equipment (or dual-use), and offers our target group completely unique technologies. The market will grow significantly in the future and as the majority shareholder I see the next goal in achieving sales of CZK 1 billion and, in the horizon of 3–5 years, in producing 200–250 aircraft per year in the new plant at Písek – Krašovice Airport. The EBITDA margin on all projects in progress is 40%. I apologize to those who would like to hear specific destinations, specific technologies and specific sales channels, but we live in a world where information is very confidential and sensitive. On the other hand, we regularly announce significant events, facts and new business deals on our company’s website.