Faced with a worsening economic environment and project postponements, Munic announced on Tuesday that it was abandoning its targets for 2026.
This announcement comes as the automotive data specialist reported a 32% drop in sales to 14.8 million euros in 2023.
In a press release, the embedded technology and artificial intelligence group explains that it suffered from increased caution among its key account customers, which led to several orders being reduced or even postponed completely to 2024.
After this 'disrupted' 2023 financial year, Munic says it anticipates - from a commercial point of view - good business momentum in 2024, which should result in a rebound in sales and an improvement in profitability.
However, the company says it has decided not to maintain its targets for 2026, which included sales of 100 million euros by this date.
The company nevertheless reaffirms its major ambitions for profitable growth over the next few years.
At around 3.30pm, Munic shares were down 16%, clearly underperforming a Paris market up 0.2%. The share price has lost 78% over the past 12 months.
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MUNIC conçoit et développe des solutions technologiques, associant des Smart Dongles, à même de collecter et décoder les milliers de données issues des capteurs des véhicules automobiles, et une plateforme Edge Computing d'intelligence artificielle, Munic.io, pour les analyser.
MUNIC décode et analyse, en plus des données télématiques de base (géolocalisation GPS, accéléromètre, kilométrage estimé), une quantité importante d'informations issues du véhicule (niveau précis de carburant, usure des pneus, état de la batterie ou des plaquettes de freins, analyse des codes de défaut, etc.) qui constituent un enjeu majeur pour de nombreux acteurs : constructeurs automobiles, loueurs et plateformes d'autopartage, équipementiers, gestionnaires de flottes, assureurs, réseaux de concessions ou d'entretien, centres de contrôle technique, compagnies pétrolières, opérateurs télécoms, etc.
MUNIC 
