Activity of the 1st quarter 2021: strong revenue growth in both divisions and change in the governance
Revenues of the 1st quarter 2021: strong growth of +7.4%
Prodways Group recorded a good quarter with consolidated revenues of nearly €17 million. The group is thus continuing its growth trajectory thanks to a good performance by its two divisions, Systems and Products.
|(in € million)||Q1 2020||Q1 2021||Change
|Structure & intra-group eliminations||0.0||0.0||n.a.|
The Systems division - which includes 3D software, 3D printers and related materials and services - achieved revenues of more than €10 million, thus erasing the impact of the health crisis in 2020. This performance is notably due to the dynamic sales of software and materials, which both generated record revenues for a 1st quarter. The increase in Software revenues is the direct result of Prodways' strengthened expertise in this area since 2018, with the group now asserting itself as a leading integrator of 3D modelling software for the industry. Recurring revenues from the Materials business have been growing steadily for several years, benefiting from the increase in the installed base of printers and the increase in production capacity last year.
The Products division - which includes the design and manufacture of on-demand parts and medical applications - recorded sales of €6.2 million, up nearly 10%. This increase is mainly due to the very dynamic recovery of medical activities (+23% compared to the first quarter 2020), which had stopped in mid-March last year. In particular, 3D printing applications in the field of audiology have been very successful, with a record first quarter (up 27% compared to 2020). This performance thus rewards the strategic directions taken in 2018 to create the French leader and one of the European leaders in customized earmolds.
Changes in the governance of Prodways Group
Raphaël Gorgé, founder of Prodways Group and current Executive Chairman, is taking over the role of Chief Executive Officer that he held from 2013 to 2018.
After a phase of very rapid growth that saw revenues rise from €0.1 million in 2013 to €61 million in 2018 under Raphaël Gorgé's leadership, the group then underwent a phase of consolidation of the various companies acquired as well as the implementation of a more efficient organization. This phase, accelerated by the health crisis, has now been successfully completed under the leadership of Olivier Strebelle, who now wishes to give a new direction to his career. Raphaël Gorgé will take over the functions of CEO of Prodways Group as of July 10.
The new phase that is about to begin will be built on a consolidated basis, conducive to accelerated growth and the resumption of possible acquisitions.
Raphaël Gorgé said: "I would like to thank Olivier for the 7 years he has devoted to Groupe Gorgé and then Prodways Group. He has accompanied the development and transformation of Prodways and has contributed to making the company a solid and global player in industrial 3D printing. I wish him every success in his new projects.”
Outlook: accelerating interest in industrial 3D printing on a global scale
Interest in and adoption of 3D printing technologies for industrial production has accelerated over the past year, according to different surveys of several thousand companies worldwide1. These promising trends for the sector have been accentuated in part by the health crisis, which has led some players to find solutions for local production, less dependent on disruptions in global supply chains.
Three key elements emerge from these studies published in Q1 2021: the first is the growing willingness to invest in the sector, with more than half of users considering 3D printing a priority. The second is the growing use of 3D printing technologies for the industrial production of final components: more than half of companies have implemented it (compared to 17% in 2015). Finally, the bulk of the market is generated by the printing of plastics or polymers, which are becoming increasingly successful (used by 85% of users, up 3 points over one year).
In this context, Prodways Group is very well positioned to capture the market's significant growth potential. For several years now, the Group has positioned itself as a specialist and benchmark player in the industrial production of custom plastic and polymer parts, thanks to its expertise across the entire 3D printing value chain. The very good first quarter of 2021 confirms the relevance of the strategic orientations and the revenue growth trajectory, which should accelerate in the second quarter.
- 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 (FR0012613610 – PWG), 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.
1 Ultimaker 3D Printing sentiment index 2021, surveyed 2,525 companies from various industries in 12 countries.
The State of 3D Printing, surveyed 1,900 companies in 86 countries
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