Exentis Group AG, provider of the only 3D technology platform worldwide that enables industrial large-scale manufacturing, maintained its profitable growth course in all three strategic business areas of Pharma, New Energy, and Ultra-fine Structures – including in the new core market USA – and successfully completed the financial year 2023.
The number of 3D production systems sold further rose from 14 3D systems in 2022 to 18 in 2023, increasing revenues by CHF 3.5 million year-on-year to CHF 18.6 million. This represents a growth of 23 %. In addition to the 3D systems sold in 2023, numerous other systems are currently in the commissioning phase and in initial engineering and pre-assembly stages.
The continuous further development of the modular 3D production systems and associated economies of scale contributed to the improvement of the gross margin to 71 %, an increase of 10 percentage points versus 2022.
In terms of earnings, Exentis is in a solid position as well. As the one-off effects related to the IPO that was postponed for the time being as recommended by the advising banks had been recognized in 2022, Exentis returned to sound profitability of CHF 1.1 million on EBITDA level (earnings before interest, taxes, depreciation and amortization) in the financial year 2023. The corresponding operating margin was 6 %.
A significantly better margin would have been achieved if the German federal government had not suddenly and without prior warning canceled the financial subsidies for e-mobility, which delayed the call-offs of ordered 3D production systems.
In 2023, the number of patent claims, which is a key indicator of the independence of Exentis’ technology, further increased by 25 % to 4,882. With an average remaining patent term of 15 years, the license-based business model with its recurring revenue generation is well positioned to deliver earnings with above-average profitability in the future.
Exentis will further strengthen the Board of Directors with two experts. To support the know-how of system solutions for clean rooms, the Board of Directors will propose Dr Silvio Inderbitzin, former CEO of Spirig Pharma, to the shareholders as a new member of the Board of Directors at the Annual General Meeting on June 21, 2024, in Malterdingen, the Exentis development and final assembly site near Freiburg in Germany. This is reflecting the increased demand for patient-specific solutions in the pharmaceutical sector as well as in the field of designated nutraceuticals.
Mr. Michael Widmer will also be proposed to the Annual General Meeting as a new member of the Board of Directors. Mr. Widmer has accompanied Exentis for many years and is highly experienced in developing and internationalizing companies.
Exentis has never recorded such a high volume of offers as at the end of the financial year 2023. Based on multiple current customer projects that will result in system and license sales as well as in foreseeable contract manufacturing, revenues of approx. CHF 50 million, from today’s perspective, are expected for the financial year 2024, along with a further increase in profitability. The new core market USA has gotten off to an outstanding start: 15 companies have already decided to go for innovative development projects with Exentis.
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