October 16, 2023 at 6 p.m.
Prodways Group’s turnover amounted to €16 million as of 3
th
quarter of 2023, i.e. approximately €1 million below the level of the same period in 2022. Prodways Group’s activity is particularly penalized by the weakness of printer deliveries, anticipated for several months, to which is added an economic situation unfavorable economic situation which impacts short-cycle activities, notably on-demand printing. Overall over the first 9 months of the year, Prodways Group’s revenues are relatively stable, supported by the resilience of the medical sector in particular for sales of 3D Materials and Audiology, two activities with high added value.
Turnover by division
|
(in millions of euros) |
Q3 2023 |
Q3 2022 |
Variation |
Organic variation |
9 months |
9 months |
Variation |
Organic variation |
|
Systems |
8.4 |
9.2 |
-8% |
-8% |
32.5 |
35.8 |
-9% |
-9% |
|
Products |
7.5 |
8.0 |
-6% |
-6% |
26.6 |
23.3 |
+14% |
+5% |
Intra-group structure & eliminations | -0.1 | 0.0 | n / A | n / A | -0.2 | -0.2 | n / A | n / A |
|
Consolidated turnover |
15.9 |
17.2 |
-8% |
-8% |
58.9 |
58.8 |
+0% |
-3% |
Systems Division: solid recurring revenue but few new printer deliveries
Revenues from the Systems division (which includes sales of 3D printers, 3D Materials and 3D Software) fell 8% this quarter compared to 3
th
quarter 2022. The increase in sales of 3D materials still supports activity, including thanks to significant order intake for 2024. On the other hand, deliveries of new 3D printers remain low, as anticipated by the group earlier this year. Finally, regarding 3D Software sales, commercial activity for the quarter was good and allowed us to win new customers. Sustained growth in sales in SaaS mode is driving activity, but has the effect of smoothing revenues over time.
Products Division: a difficult situation
The Products division includes Digital Manufacturing (print-on-demand service) and the Integrated Businesses activity (mainly the manufacturing of custom parts for audiology). This division has seen good momentum since the start of the year, with growth of +14% over the first nine months (including +5% organic) but suffered from the slowdown in economic activity in the third quarter.
In Digital Manufacturing, the slowdown in orders from our industrial customers in France is partially offset by the dynamism of activity in Germany, driven by several recurring series production projects.
In audiology, sales remain resilient, demonstrating the interest in this high value-added sector in which Prodways has strengthened in 2022. The growth of this activity has been supported since the start of the year by orders for tailor-made anti-noise protections (both for industrial and private customers), whose effectiveness compared to traditional anti-noise plugs no longer needs to be proven.
Outlook and guidance
The slowdown in activity in the third quarter of 2023 makes achieving the 2023 guidance uncertain. As a reminder, this was “around +5% growth in turnover and “around 8% current EBITDA margin”. Prodways Group remains determined to navigate this demanding economic environment with prudence and perseverance. The company continues to adapt to market challenges while investing in innovation and improvement of its products and services in order to maintain its position as a key player in the 3D printing market.
About Prodways Group
Prodways Group is a specialist in industrial and professional 3D printing with a unique positioning as an integrated European player. The Group has developed across the entire 3D printing value chain (software, printers, materials, parts & services) with an industrial solution with high technological added value. Prodways Group offers a wide range of 3D printing systems and premium composite, hybrid or powder materials (SYSTEMS division). The Group also manufactures and markets parts on demand, prototypes and small series printed in 3D, in plastic and metal (PRODUCTS division). Prodways Group addresses a large number of sectors, particularly in the medical field.
Listed on Euronext Paris (FR0012613610 – PWG), the Group achieved a turnover of 81 million euros in 2022.
More information on https://www.prodways-group.com
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Contacts
INVESTOR CONTACTS
Hugo Soussan
Investor relations
Tel: +33 (0)1 44 77 94 86 / [email protected]
Anne-Pauline Petureaux
Shareholder relations
Tel: +33 (0)1 53 67 36 72 / [email protected]
PRESS CONTACTS
Manon Clairet
Financial press relations
Tel: +33 (0)1 53 67 36 73 / [email protected]
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Regulated information:
Quarterly financial information:
– Financial information for the third quarter
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