The US 3D printer manufacturer 3D Systems has reported declining sales and losses for the third quarter. According to company CEO Jeffrey Graves, the weak economy and global inflation are weighing on business. However, the company sees great opportunities in the future.
According to 3D Systems, quarterly turnover fell by 6.4 percent to 123.8 million dollars. The bottom line was a loss of 11.7 million dollars after a loss of 37.4 million dollars in the same period last year.
According to Graves, the figures reflect the current difficult economic situation. Inflation is weighing on consumer spending and customers are also holding back on investments. The decline is most pronounced in the dental sector.
3D Systems has therefore announced savings of around 50 million dollars by the end of 2024, primarily through staff cuts. According to Graves, the aim is to reduce costs in order to remain profitable. In the long term, however, the CEO sees strong growth potential for 3D printing.
Overall, 3D Systems remains in a solid financial position, according to Graves. Many new product launches are planned for 2024, with the aim of convincing customers of the benefits of additive manufacturing. The company is well positioned to take a strong position once the economic crisis subsides.
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