(BFM Stock Exchange) – The French ETI has won a new major delivery contract for a system of drones to combat underwater mines with a leading navy, whose identity has not been revealed at this stage.

On Tuesday, February 11, afternoon, Exeil Technologies had asked for the suspension of the rating of his action and this pending “the publication of a future press release”, according to the dedicated formula.

The manufacturer of civil and military robotics equipment unveiled the reasons for this suspension a few hours later. It is to be linked with the announcement after the closure, a contract of several hundred millions of euros for the supply of underwater anti-mines drone systems.

On the Paris Stock Exchange, EXAIL Technologies resumes its rating on Tuesday increased. The title still jumped from 16.75% to 23 euros this Wednesday, February 12, compared to its last course listed by 19.70 euros.

A mega-contract

EXAIL Technologies says it has been chosen “by a leading navy” to provide it with several autonomous drone systems to combat submarine mines. The French Group won the Put Face to several companies in the sector after an international call for tenders launched in 2022.

“With this program, this navy will acquire drone systems of the latest generation. They will be made up of different types of drones in the existing range of the group and integrated into the control system & command of EXAU. The UMIS systems offered by EXEIL In particular, can contain surface drones, underwater detection drones, several underwater drones for the MIDS mission (MIND Identification & Destruction Systems), as well as air drones, “explains Exeail Technologies. .

“Only drones finally take risks. They perform a more efficient, less dangerous and less mission that costs less,” said Raphaël Gorgé, director-general of Exeil Technologies.

The Customer has expressly asked Ex-Home Technologies not to reveal his identity for the moment as well as the amount of this mega-contract. But the market already has an idea of ​​the figure. “This is a major contract for the size of the initial amount of the Benl contract (Belgian and Dutch Navies, NATO references in this area, editor’s note), in the amount of 435 million euros”, Cons up Julien Thomas Analyst at TP ICAP Midcap.

A command book multiplied by 10

The French ETI adds that deliveries of these systems will be spread over a period of four years. Upon entry into force of the contract, the group’s order book will exceed the threshold of the billion euros.

“Our order book was around 700 million, it should exceed one billion euros. It may be one of the biggest export contracts won by a French ETI,” said Raphaël Gorgé.

This mega-contract marks an “new important step in the history of EXAIL”, welcomes the group. It must be said that French ETI has established itself as a major player both in navigation equipment and on drones, especially since the rapprochement with the specialist in underwater navigation Ixblue and its subsidiary ECA, in September 2022. In November 2024, the Directorate General of Armament had selected Exeil and Thales to provide sixteen submarine drones to the French national navy. So many contracts that fed the order book, which has been multiplied by 10 in the space of a few years. The group is very clearly benefiting from the development of investments in the dedicated defense states.

EXAIL Technologies adds that this success “should have an additional positive effect on the group’s profitability”.

Unlike the Benl contract, “EXEIL has directly won the call for tenders with the client navy and has not been associated with a naval manufacturer, the drones will be on board existing ships redeveloped or piloted from the coast “Recalls Julien Thomas.

The analyst specifies that this contract will lead to additional income in the form of a maintenance pension, delivery of consumables or spare parts.

“We believe that this contract will be highly profitable for several reasons: the drones will be mainly assembled in Ostend and will allow Exam to go into the industrial phase, these are already tested drones which will limit the development and prototyping phases and allow Examination to pass quickly in the production phase, “he lists.

TP ICAP MIDCAP says it has modeled as an indication a contract of 400 million euros delivered in 2026-2030 associated with an annuity similar to that of Benl, which would lead to enhance its price objective at 29 euros. But for the time being, the design office maintains its price targets at 24 euros, accompanied by a recommendation for purchase.