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  PRODWAYS company press release from 14/02/2024

  14/02/2024 - 17:45

Stable activity in 2023 and a rapid action plan to significantly improve the performance

February 14, 2024 at 6 p.m.



[2] From an accounting point of view, the recognition of revenues from this activity is changing due to the classification of Prodways Group as an "agent" under IFRS 15 as of July 2023, whereas the company was considered "principal" until that date. As an agent, Prodways Group now recognises the gross margin earned on these sales as turnover. This change therefore reduces the absolute value of revenues recognized by €6.5 million in the second half of 2023.

[3] The final figure will be finalized during the consolidation of the 2023 financial statements and published during the 2023 annual results.

[4] This figure gives an indicative estimate of full-year 2023 revenues adjusted with the following assumptions: Agent classification in the Software business for the full year 2023 (vs. only H2 2023 under IFRS), exclusion from the Solidscape scope, exclusion from the Cristal scope.

[5] Link to Align Technology's 2023 annual results release: link

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  Original Source: PRODWAYS