2020 revenue impacted by the health crisis, recovery forecast in 2021
Despite the impact of a second lockdown, fourth quarter revenue of Prodways Group continued to recover and totaled €17.3 million, the high point of the year (+32% compared with the third quarter 2020), although it was still down 13% compared with the previous year.
Good recovery of business since the second quarter 2020
Change in 2020 revenue per quarter (in €million) vs 2019 : please find the graph in the attached press release in PDF version
The Systems division continued to be impacted by the deferral of investments by its customers, in both machines and softwares (-17% over the quarter), albeit with an excellent performance in material sales, for which the largely recurring business increased market share and grew 26% during the quarter compared with the previous year.
Sales in the Products division, impacted to a lesser extent by the second lockdown than the first, recovered from the previous quarter driven by a strong performance in the medical business, which returned to the previous year's level. The division's revenue fell 10%.
Over the full year, the health crisis had a significant impact on the Group's business with revenue down 20%.
|(in € millions)||Q4 2019||Q4 2020||Change||FY2019||FY2020||Change|
|Structure & intra-group eliminations||-0.3||0.0||n.m.||-0.5||0.1||n.m.|
Business volumes are expected to be significantly higher in both divisions in 2021. The return of investment in industry should boost the Systems division, especially since the Group signed new contracts in 2020 and early 2021 with a leading global player and two European dental specialists, which are expected to consume dozens of tons of materials once their production stabilizes. The Products division is expected to return to a normal level of activity, particularly in the medical sector (chiropody, dental care, audiology).
Providing that the health situation does not suffer a further deterioration, Prodways has set itself a target of double-digit revenue growth in 2021, building on the positive momentum of the Products division in particular.
In the medium term, growth should be bolstered by the development of larger-scale applications that are not included in the current projections. A good example of this is the partnership recently announced with the ESSILOR group in the 3D printing of lenses.
- About Prodways Group
Prodways Group is a specialist in industrial and professional 3D printing with a unique positioning as an integrated European player. The Group has developed right across the 3D printing value chain (software, machines, materials, parts & services) with a high value added technological industrial solution. Prodways Group offers a wide range of 3D printing systems and premium composite, hybrid and powder materials (SYSTEMS division). The company also manufactures and markets parts on demand, prototypes and small production run 3D printed items in plastic and metal (PRODUCTS division). The Group targets a significant number of sectors, from aeronautics to healthcare.
Listed on Euronext Paris, the Group reported in 2020 revenue of €57 million.
Prodways Group is a Groupe Gorgé company.
For further information: www.prodways-group.com
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Releases from Prodways Group may contain forward-looking declarations with statements of objectives. These forward-looking statements reflect the current expectations of Prodways Group. Their realization, however, depends on known or unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ significantly from those previously anticipated. The risks and uncertainties that might affect the Group's future ability to achieve its targets are reiterated and presented in detail in our Annual financial report on Prodways Group's website (www.prodways-group.com). This list of risks, uncertainties and other factors is not exhaustive. Other unanticipated, unknown or unpredictable factors may also have significant negative effects on the achievement of our objectives. The current release and the information contained therein do not constitute an offer to sell or to subscribe, nor a solicitation for an order to purchase or subscribe to shares in Prodways Group or in any subsidiaries thereof listed in whatsoever country.
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