- Revenue up 74% in the fourth quarter
- Breakeven EBITDA reached in the fourth quarter
- Solid outlook for 2018: expected revenue above €50 million
Prodways Group (Euronext Paris: PWG) today reports its revenue for the fourth quarter and financial year 2017.
|(in € millions)||2017(1)||2016||Change||Q4 2017(1)||Q4 2016||Change|
|Structure & disposals||(0.4)||0.0||n/a||(0.0)||(0.0)||n/a|
(1) Unaudited figures
For financial year 2017 Prodways Group reported revenue of €34.8 million, compared to €25.2 million in 2016 for growth of 38.1%. This strong growth in sales was quite balanced across the Group's two divisions and assisted by contributions from new acquisitions MADE in the third and fourth quarters.
During the fourth quarter of 2017, the Systems division, which includes 3D printers, associated materials and 3D design software was buoyed by strong performance in software and materials. Its revenue came in at €7.3 million, up 106.7% over 2016. The contribution from AvenAo, whose seasonality picked up sharply in the last months of the year, exceeded expectations. Sales of machines were down from a very busy fourth quarter in 2016. However, sales of 3D printing materials to Prodways customers rose 74% on the quarter and 51% on the financial year, driven by the increase in the installed base and the success of the new polyurethane introduced during the year.
In the last three months of the year, revenue in the Products division, which includes the production of parts on demand and 3D medical applications (dentistry, podiatry and audiology), was €5.7 million, up 45.2% over 2016. The division's performance was driven by continued large sales of on demand parts. In the medical segment, dentistry grew only slightly as no new 3D product was introduced by Cristal laboratory during the quarter. By contrast, podiatry applications saw extraordinary growth of over 300% with the significant advent of orthopedic and comfort Scientifeet® 3D printed soles. Lastly, growth was substantially boosted by the acquisition of Interson Protac, which made its first full quarter of revenue contribution.
- Breakeven EBITDA objective reached in the last quarter
At the close of the 2017 financial year and on the basis of unaudited data, Prodways Group can announce that, in the fourth quarter, it reached its objective of a breakeven EBITDA.
This first-time event since the founding of Prodways Group was achieved in a quarter that is traditionally very busy but does confirm the earnings turnaround apparent since the first half of 2016.
- 2018 Outlook
Considering the full-year consolidation of the acquisitions made in the second half of 2017 combined with internal growth in its businesses, Prodways Group has set a goal of surpassing €50 million in revenue in 2018.
- Next release
Publication of full year revenue on Tuesday 3 April 2018 before market opening.
Raphaël Gorgé, Chairman and CEO, as well as Pierre-Olivier Gisserot, Group CFO, will comment on Prodways Group's results and answer questions from the financial community on the same day during a conference call in English starting at 9:30am.
Conference call details will be available one week before the conference on Prodways Group's investor website: https://www.prodways-group.com/en/investors/financial-information.html
The conference call will also be available via a simultaneous webcast on Prodways Group's website. A replay will be available following the conference call on Prodways Group's website.
- 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 (machines, materials, parts & services and software) 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 38% 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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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.