|First quarter revenue in € millions||Q1 2017 (1)||
|Smart Safety Systems||24.8||19.5||+27.2%|
|Protection of High Risk Installations||34.2||35.1||-2.6%|
|Structure & eliminations||(0.3)||(0.2)||-|
(1) Unaudited data
The consolidated revenue of Groupe Gorgé amounted to €66.2 million in the first quarter of 2017, versus €60.3 million in 2016 (+9.7%), driven by strong performance in the 3D Printing and Smart Safety Systems divisions.
Revenue in the Smart Safety Systems division came to €24.8 million in the first quarter of 2017, compared with €19.5 million (+27.2%) in 2016.
In 2016, the Simulation division had MADE a strong contribution to the division's performance by posting revenue up +26.2% compared with the first quarter of 2015. The other two divisions have seen strong growth this year: +26.4% for Robotics and Integrated Systems, and +71.9% for Aerospatial. Growth in Aerospatial is due primarily to the contribution of the new ELTA subsidiary acquired at end November 2016.
Revenue for the Protection of High Risk Installations division amounted to €34.2 million, versus €35.1 million in the first quarter of 2016, remaining high compared with previous FINANCIAL years.
The division's order book is up 11% over the quarter, providing satisfactory visibility.
Lastly, the 3D Printing division achieved growth of 25.4% in the first quarter, posting revenue of €7.4 million versus €5.9 million in the first quarter of 2016. The division continues to enjoy high growth (41.6% in 2016) and the first quarter results are in line with management expectations.
During the quarter, PRODWAYS GROUP made several important announcements regarding its Systems and Products divisions. In particular, we can mention the application developed for the plastic injection sector with HAHN SCHICKARD (press release of 3 March), the new generation of printers presented at the IDS International Dental Show (press release of 20 March) and the 4000th pair of Scientifeet 3D-printed customised insoles (press release of 28 March). The diversity of these announcements demonstrates the wide range of sectors and applications covered by PRODWAYS GROUP.
Solid prospects, in particular for 3D Printing
The Smart Safety Systems division confirms its sales target of more than €120 million for the financial year.
The integration of ELTA is satisfactory, with an encouraging level of order intake (press release of 3 March 2017).
The Protection of High Risk Installations division is awaiting major contracts for its nuclear business. 2017 should be a year of transition, with the primary goal being to improve margins.
Revenue growth in the 3D Printing division will continue to be significant in the quarters and years to come. The Group believes its offer is well positioned, being focused on industrial and professional 3D printing, to outperform expected market growth levels (average of 31% for 2015-2021, source: Wohlers Report).
PRODWAYS GROUP fundraising project
On 24 March, GROUPE GORGE announced the registration by AMF of its subsidiary's base document as part of a fundraising project, which will give it the means to continue its ambitious growth and investment strategy.
At present, management is still targeting consolidated revenues that could be close to €300 million in 2017.
Next press release:
Publication of revenue for the first half of 2017 on 27 July 2017
GROUPE GORGE press releases may contain forward-looking statements regarding GROUPE GORGE's targets. 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 operates and notably the 3D printing division; 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 www.groupe-gorge.com. 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 or in its listed subsidiaries 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 1,800 employees and operations in over ten countries.
More information available on www.groupe-gorge.com
Groupe Gorgé is listed on Euronext Paris and on the US OTC market in the form of ADR.
isin code: FR0000062671
Ticker code: GOE
US OTC market:
CUSIP NUMBER: 399451 103
ISIN NUMBER: US3994511034
Ticker Code: GGRGY / GGRGF
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