GROUPE GORGE plans to launch an initial public offering (IPO) on its 3D printing division, PRODWAYS GROUP | Bourse Reflex
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GROUPE GORGE plans to launch an initial public offering (IPO) on its 3D printing division, PRODWAYS GROUP

Mardi 07 Mar 2017 à 07:00

The IPO will raise funds to step up the expansion of the 3D printing division and take it to the second phase of growth.

GROUPE GORGE plans to launch the PRODWAYS GROUP initial public offering in 2017 on Euronext Paris, subject to market conditions. Since GROUPE GORGE intends to remain the largest long-term shareholder, the IPO would take the form of a capital increase and is expected to raise funding for PRODWAYS GROUP to accelerate its ambitious strategy of market share gains.

PRODWAYS GROUP saw its revenue climb from €0.1 million in 2013 to more than €25 million in 2016, while its headcount rose from 1 to 248 in the same period. This vigorous growth was achieved by a strategy combining organic growth, sustained by substantial capital expenditure, and targeted acquisitions in the B2B 3D printing segment.

PRODWAYS GROUP is the sole European company present at every stage of the 3D printing value chain (machines, materials, parts and services). It has two divisions: SYSTEMS (machines and materials, €13.1 million in 2016 revenue, with 90% in the international market), and PRODUCTS (parts on request and industry applications, €12.1 million in revenue in 2016).

Backed by its significant export market (international business accounts for 58% of total revenue) and its breakthrough MOVINGLight® technology, PRODWAYS GROUP enjoys global visibility in the industrial 3D printing industry and is well positioned with top-tier clients.

The industrial 3D printing market is expected to grow 31% per year in the period 2015-2021 (CAGR1, source: Wohlers Report). Excluding major acquisitions, PRODWAYS GROUP targets until 2019 a growth at least 4 percentage points higher than the market. It aims to achieve break-even (EBITDA²) in Q4 2017, with an EBITDA² margin in the double digits by 2019.

1 CAGR: compound annual growth rate.

2 EBITDA is not a standardized accounting aggregate with a single and generally accepted definition. It may not be considered a substitute for operating income, net income, net cash provided by operating activities, or a measure of liquidity. Companies with similar or different businesses may calculate EBITDA differently. The company uses EBITDA to mean operating income before depreciation, impairment and other non-current items recognized in operating income.


This press release contains forward-looking statements regarding GROUPE GORGE's targets for its 3D printing division. These forward-looking statements reflect GROUPE GORGE's current expectations. Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated herein. The risks and uncertainties that could affect the Group's future ability to achieve its targets include, in addition to those indicated in the press release: the strength of competition; the development of markets in which the Group's 3D printing division operates; currency fluctuations; obtaining the export authorizations that may be required for certain activities; control of costs and expenses; changes in tax legislation, laws, regulations or their enforcement; our ability to successfully keep pace with technological advances; our ability to attract and retain qualified personnel and key staff; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our FINANCIAL statements; manufacturing and supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.). Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers), available on our website This list of risks, uncertainties and other factors is not limitative. Other unanticipated, unknown or unforeseeable factors, such as changes in the economic situation or financial markets, could also have a material adverse effect on our targets.

This press release and the information it contains do not constitute an offer to sell or to subscribe, or a solicitation to purchase or subscribe shares or securities in GROUPE GORGE in any country whatsoever.

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About Groupe Gorgé

Groupe Gorgé is an independent group that specializes in high-tech industries. Today, the Group is active in the fields of security and protection in extreme environments, as well as in the 3D printing sector. It employs around 1,700 people, is located in eight countries and directly exports around 40% of its activity. In its more than twenty-five year history, Groupe Gorgé has always developed and driven the latest technological and industrial innovations.

Smart Safety Systems: Developing complete, innovative technological solutions for complex missions in hostile and confined environments.

Protection of High-Risk Installations: Protecting people and ensuring the active and passive protection of installations for energy markets and industrial and tertiary sectors in France. Ensuring the maintenance of these protection systems.

3D Printing: Enabling major industry players to find new routes to successful innovation and production processes by providing systems, 3D printers and new premium material.

In 2016, the Group reported revenue of €281.2 million. It is backed by 1,700 employees and operations in over ten countries.

More information available on

Groupe Gorgé is listed on Euronext Paris and on the US OTC market in the form of ADR.

Euronext Paris:

Compartment B.

isin code: FR0000062671

Ticker code: GOE

US OTC market:

CUSIP NUMBER: 399451 103

ISIN NUMBER: US3994511034

Ticker Code: GGRGY / GGRGF


Groupe Gorgé - Raphaël GORGÉ – ceo & Chairman - Tel.: +33 1 44 77 94 77 - E-mail:

Finance News – Natacha MORANDI – Analysts/Investors Relations - Tel.: +33 1 53 67 36 94 - E-mail:

Finance News – Jean-Michel MARMILLON – Press Relations - Tel.: +33 1 53 67 36 73 - E-mail:

Image 7 – Lauranne Guirlinger – Press relations – Tel: +33 1 53 70 74 18 – E-mail:

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