SLM Solutions Group AG announces financial results for the year ending December 2021 with material improvements in both the top and bottom line. In FY 2021, SLM Solutions generated revenues of EUR 75.1 m, increasing by 22% as compared to the previous year (FY 2020: EUR 61.8 m). Additionally, the Company reported EBITDA of EUR -8.6 m for FY 2021, improving by 42% as compared to the previous year (FY 2020: EUR -14.8 m).
During the year 2021, the Company recorded a strong level of order intake amounting to EUR 70.4 m (FY 2020: EUR 46.1 m) driven by strength of its game-changing machine, the NXG XII 600, as well its core machine portfolio.
Sam O’Leary, CEO of SLM Solutions said, “In 2021, we witnessed robust order intake across our product portfolio, with especially strong interest for the SLM 500. During the year, we also successfully expanded the beta program of the NXG XII 600 while recording multiple orders from leading industrial companies for this unique system. Looking forward, I am confident that our technological leadership position, combined with our open architectural business philosophy will enable SLM Solutions to be at the forefront of the ongoing industrialization of additive manufacturing.”
- Revenue for FY 2021 of EUR 75.1 m, increased by 22% YoY. (FY 2020: EUR 61.8 m)
- EBITDA for FY 2021 improved by 42% over FY 2020, to EUR -8.6 m. (FY 2020: EUR -14.8 m)
- Strong order intake during FY 2021 of EUR 70.4 m, up 53% YoY. (FY 2020: EUR 46.1 m)
- Largest order backlog in the Company’s corporate history as of Dec 2021 of EUR 42.8 m, 42% higher as compared to Dec 2020. (Dec 2020: EUR 30.2 m)
- SLM Solutions reaffirms the FY 2022 guidance for revenue and EBITDA.
Continued operational improvements
The Company reported an EBITDA of EUR -8.6 m (FY 2020: EUR -14.8 m) for FY 2021, with the EBITDA margin improving by 52% as compared to the previous year. This positive performance was mainly driven by sustained efforts in enhancing operational efficiencies and base cost optimization, further supported by the business’ strong operating leverage. These positive effects were partially offset by an increase in payroll related expenses as well as a comparatively higher level of logistics expenses during the year. In FY 2021, the Company continued its significant investments in technology, spending approximately 20% of its revenue on R&D activities. SLM Solutions continues to prioritize not only maintaining but also expanding its technological leadership position and therefore will continue to invest significantly towards this goal in the future.
The Company reported a consolidated net result of EUR -20.4 m, improving by 33% as compared to the previous year (FY 2020: EUR -30.3 m), reflecting an earnings per share of EUR -0.90 per share (FY 2020: EUR -1.53).
Outlook for FY 2022
As previously communicated on November 10, 2021, SLM Solutions expects revenue for FY 2022 to be at least EUR 100.0 m, an increase of at least 33% YoY. Further the Company expects to achieve break-even EBITDA on a quarterly basis in the second half of 2022.
Dirk Ackermann, CFO of SLM Solutions: “Looking forward to 2022, with a sizeable order backlog of EUR 43 m as of December 2021, we remain confident of achieving our revenue guidance for FY 2022. Additionally, as we realize further gains from operational efficiencies and other profitability optimization measures, we have a clear path to our goal of break-even EBITDA on a quarterly basis by the second half of 2022. Although we do expect to face challenges along the way in the form of the ongoing global supply chain crisis, we have taken, and will continue to take risk-mitigating measures, such as the increase of safety stock levels, as may be required.”
As a consequence of the developments in the Ukraine-Russia crisis, the Company decided to stop all its activities in the Russian market until further notice. While the Russian market has no significance for SLM Solutions, the impact of the crisis to the global economy and the already strained supply chains remains unclear. The Company will continue to closely monitor the situation and initiate actions if required.
Publication of Annual Report 2021; Earnings Presentation on 24 March 2022
SLM Solutions’ Annual Report for the financial year 2021 (German and English) will be made available in the course of the day in the “Investor Relations” section of www.slm-solutions.com. The Management Board of SLM Solutions Group AG will present the figures for FY 2021 in an earnings presentation today, 24 March 2022, at 4 p.m. CET. The presentation can be followed online via livestream: https://www.webcast-eqs.com/slm20220324
About SLM Solutions
SLM Solutions is an integrated solutions provider and metal additive manufacturing partner. The Company is vested in customers’ long-term success with metal additive manufacturing. Robust Selective Laser Melting machines optimize fast, reliable, and cost-efficient part production, and SLM Solutions’ experts work with customers at each stage of the process to provide the support that elevates the use of the technology and ensures their return on investment is maximized. A publicly traded Company, SLM Solutions Group AG is headquartered in Germany, with offices in Canada, China, France, India, Italy, Japan, Russia, Singapore, South Korea, and the United States.
For more info contact: www.slm-solutions.com
This release contains statements on the future development of SLM Solutions. These forward-looking statements are based on the current expectations, presumptions, and forecasts of the Management Board as well as the information available to it to date and have been prepared to the best of its knowledge and belief. No guarantee or liability for the occurrence of the future developments and results specified can be assumed in respect of such forward-looking statements. Rather, the future developments and results are dependent on a number of factors. They entail risks and uncertainties beyond the Company’s control and are based on assumptions which could prove to be incorrect. Notwithstanding any legal requirements to adjust forecasts, SLM Solutions does not assume any obligation to update the forward-looking statements contained in this report.