France's Exail revenue rises 40% as maritime robotics drive growth
15/04/2026 17:41
Adds details . April 15 (Reuters) - French underwater drone maker Exail Technologies EXA.PA posted a 40% rise in first-quarter revenue on Wednesday, driven by surging demand for mine countermeasures and autonomous drones. TP ICAP Midcap said in March that if Iran mined the Strait of Hormuz, Exail would become highly strategic for a number of countries it already works with, including the UAE and Qatar. Exail said it does not expect recent geopolitical developments to have a material impact on 2026 revenue First-quarter revenue rose 40% to 131 million euros ($155 million), driven by a 51% surge in its navigation and maritime robotics segment Navigation systems hit a production record in March, with orders up more than 40% as European customers sought alternatives to U.S. suppliers Order intake fell to 112 million euros from 487 million euros a year earlier, but Exail said the drop was solely due to a base effect from a single 400 million euro contract signed in February 2025 Exail reaffirmed full-year targets, expecting double-digit revenue growth and profitability to outpace that growth ($1 = 0.8475 euros) (Reporting by Hugo Lhomedet in Gdansk; Editing by Alexander Smith) ((hugo.lhomedet@thomsonreuters.com))