The Israeli company Nano Dimension presents a record turnover of 56.3 million US dollars for 2023 – organic growth of 29% compared to the previous year. At the same time, CEO Yoav Stern announces far-reaching restructuring and acquisition plans to strengthen profitability.
According to the latest business figures, Nano Dimension achieved a significant increase in turnover. At 14.5 million dollars, the company achieved a 19% increase in turnover in the fourth quarter of 2023 compared to the same period of the previous year. For the full year 2023, turnover amounted to USD 56.3 million, which corresponds to an increase of 29%. The gross margin also improved significantly from 32% to 45%.
Nevertheless, Nano Dimension is still in the red. With the “Reshaping Nano” initiative, the CEO now wants to trim the company to profitability. This includes a 25 percent reduction in headcount, downsizing the management team and planned savings of 30 million dollars per year. According to Stern, the aim is to achieve an operating profit in 2025 and possibly break even even earlier.
At the same time, he held out the prospect of further acquisitions in order to drive consolidation in the 3D printing market. In particular, companies with meaningful technologies and customer relationships are to be acquired. Nano Dimension itself is well positioned thanks to its focused orientation.
Stern emphasized the importance of material sciences and artificial intelligence for the future of the company. Accordingly, Nano Dimension intends to further expand its technological expertise in these areas.
Further details on the annual report can be obtained directly from the company.
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