Home Press Releases Prodways Group today reports its first quarter 2019 revenue

Prodways Group today reports its first quarter 2019 revenue

Consolidated revenue for first quarter 2019 was €17.4 million, up by 28.9% compared to first quarter 2018. This momentum is due to solid organic growth, particularly in sales of materials, software distribution and parts manufacturing, boosted by the contribution from acquisitions completed in 2018 and early 2019.

In first quarter 2019, the Systems division – including 3D software, 3D printers and related materials – reported revenue of €10.5 million, a 35.2% increase year-on-year. The division benefited from sales momentum for materials and the software distribution businesses. This momentum was further strengthened by the €1.8 million contribution from the US machine maker Solidscape, acquired in third quarter 2018.

During the quarter, the division announced the sale of a large metal parts 3D printer to a research institute. The Group pursued the launches of innovative products, in particular the introduction the Solidscape DL, Solidscape first DLP® printer designed for the jewelry market, or its first automated 3D printing modular system for the dental industry.

The Products division, including the design and manufacturing of on-demand parts and medical applications, achieved revenue of €7.0 million in first quarter 2019. This 21.6% increase benefited from growing demand for parts production, from sales in the podiatry sector, and from acquisitions that contributed €0.9 million to this quarter’s revenue. In January, Prodways Group completed the acquisition of Surdifuse-L’Embout Français, a major French player in audiology. Through the merger of Surdifuse-L’Embout Français with Interson-Protac, acquired in 2017, the Group aims to create the leading French operator and one of the European leaders in customized hearing aid ear tips through 3D printing.

2019 objective

In the current scope and excluding new acquisitions, the Group confirms its 2019 objective of full-year revenue growth above 15%. This increase will be especially pronounced in the Systems division, driven by the launch of new machines: ProMaker V10, ProMaker LD-20 and Solidscape DL. In the Products division, the Group continues to implement the digital transition of its medical activities, which should bear fruit in the medium term.

For 2019, the R&D effort will remain at a sustained level, albeit relatively down in relation to revenue. The Group will continue its investments in the applications of the future in 3D printing (Rapid Additive Forging technology, digitalization of processes in the medical sector…). These investments – creating value for the future – will continue to weigh on the Group’s income statement. It will be increasingly offset by the already profitable businesses where growth is strong.

Q1/2019Q1/2018Change
Systems10.5 Mio. Euro7.8 Mio. Euro+35.2%
Products7 Mio. Euro5.8 Mio. Euro+21.6%
Consolidated revenue17,4 Mio. Euro13,5 Mio. Euro+28,9%