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  PRODWAYS company press release from 26/10/2018

  26/10/2018 - 07:00

Prodways Group: +90.5% revenue growth over the first 9 months of 2018, 2018 objective upgraded


Prodways Group (Euronext Paris: PWG) reports its revenue for the third quarter and the first 9 months of the 2018 financial year today.

(in € millions) 9M 20181 9M 2017 Change Q3 20181 Q3 2017 Change
Systems 24.8 10.1 +146.4% 8.9 2.6 +239.7%
Products 17.0 12.1 +40.3% 5.1 4.6 +9.9%
Structure & disposals (0.3) (0.4) NS (0.0) (0.1) NS
Consolidated revenue 41.5 21.8 +90.5% 13.9 7.1 +95.3%
  1. Unaudited figures

Over the first 9 months of 2018, Prodways Group posted revenue of €41.5 million, a very sharp rise of 90.5%. Revenue maintained a high rate of growth in the third quarter (+95.3%), driven primarily by the contribution of the acquisitions of Avenao (Q4 2017) and Solidscape (Q3 2018), but also by the strong dynamic in the Machines business.

The Systems division - comprising 3D software, 3D printers and related materials - generated revenue of €8.9 million in the third quarter of 2018, a very significant rise of 239.7% compared with the third quarter of 2017. Most activities contributed to this growth, boosted by the integration of Avenao in the fourth quarter of 2017 and that of the US 3D printer manufacturer Solidscape from July 15, 2018. The Machines and Materials businesses were dynamic, reflecting the accelerated pace of sales of the ProMaker LD-10 3D printer and improved commercial efficiency. This growth was further enhanced by a sale related to the Rapid Additive Forging technology and the strong performance in the Software business.

Revenue in the Products division - comprising the design of parts on demand and medical applications – amounted to €5.1 million in the third quarter of 2018, up 9.9% compared with the third quarter of 2017. This growth was very largely organic, scope effects being negligible this quarter with the integration of Interson Protac from August 1, 2017. In a quarter in which the manufacture of parts on demand is traditionally less buoyant, medical applications, and notably podiatry, remained dynamic.

  • 2018 objective upgraded

Prodways Group's two divisions should continue to improve their performance in the medium term. Organic growth should be bolstered by new acquisitions with the aim of strengthening the Group's existing businesses. Following payment for the Solidscape acquisition, Prodways Group still has enough cash to carry out new acquisitions.

The consolidation of the US company Solidscape from July 15, 2018 contributed to the strong business dynamic and has led management to upgrade its revenue objective, which is now expected to exceed €58 million in 2018 compared with €53 million previously announced.


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  • 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 right across the 3D printing value chain (software, machines, materials, parts & services) with a high value added technological industrial solution. PRODWAYS GROUP offers a wide range of 3D printing systems and premium composite, hybrid and powder materials (SYSTEMS division). The company also manufactures and markets parts on demand, prototypes and small production run 3D printed items in plastic and metal (PRODUCTS division). The Group targets a significant number of sectors, from aeronautics to healthcare.

In 2017, the company generated revenue of €34.8 million, including close to 40% outside of France. Building on revolutionary and proprietary technology, MOVINGLight®, PRODWAYS GROUP today has global visibility in the industrial 3D printing sector and with leading customers.

PRODWAYS GROUP is a Groupe Gorgé company.

For further information: www.prodways-group.com

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  • Contacts

INVESTOR CONTACTS

Prodways Group – Raphaël Gorgé

Executive Chairman

Tel: +33 (0)144 779480

Actus Finance – Natacha Morandi

Investor relations

Tel : +33 (0)1 53 673694/nmorandi@actus.fr

PRESS CONTACTS

Actus Finance – Jean-Michel Marmillon

Press Relations

Tel: +33 (0)153 673673/jmmarmillon@actus.fr
 

  • Disclaimer

Releases from the Prodways Group may contain forward-looking declarations with statements of objectives. These forward-looking statements reflect the current expectations of the Prodways Group. Their realization, however, depends on known or unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ significantly from those previously anticipated. The risks and uncertainties that might affect the Group's future ability to achieve its targets are reiterated and presented in detail in our Basis Document available on the Prodways Group's website (www.prodways-group.com). This list of risks, uncertainties and other factors is not exhaustive. Other unanticipated, unknown or unpredictable factors may also have significant negative effects on the achievement of our objectives.

The current release and the information contained therein do not constitute an offer to sell or to subscribe, nor a solicitation for an order to purchase or subscribe to shares in Prodways Group or in any subsidiaries thereof listed in whatsoever country.