AdvertisementAdvertisementBusiness18 Mar 2026 02:17PM (Updated: 18 Mar 2026 02:44PM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST March 18 : French underwater drone maker Exail Technologies said on Wednesday its full-year core profit grew 40 per cent to 103 million euros ($119 million) driven by big contract wins in its mine countermeasure (MCM) drone system.Its order intake for the year surged 87 per cent to 844 million euros, whilst its backlog at the end of the period stood over 1 billion euros."The return of high-intensity conflicts and the rise of asymmetric threats are accelerating a structural transformation of naval forces," the company said in a statement. "In Europe, this evolution of doctrine is part of a sustainable rearmament effort."Shares in Exail have risen over 60 per cent so far this year as drone warfare revolutionises the military landscape. The company is one of only a handful worldwide to produce mine-hunting underwater drones.For 2026, Exail forecast revenue growth in a double-digit percentage and earnings before interest, tax, depreciation and amortisation growth above that of its revenues. It continues to target an EBITDA margin of 25 per cent when its new major mine-hunting program enters the production phase.($1 = 0.8664 euros)Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST