Exentis reports revenue and earnings growth in 2023
May 28, 2024
Exentis Group AG, located in Stetten, Switzerland, reports it has maintained profitable growth in its 2023 financial year across all three strategic business areas of pharma, new energy, and ultra-fine structures.
The number of Additive Manufacturing machines sold rose from fourteen in 2022 to eighteen in 2023, increasing revenues by €3.57 million year-on-year to €18.98 million, a 23% growth. In addition to the AM machines sold in 2023, numerous other machines are currently in the commissioning phase and in the initial engineering and pre-assembly stages.
The further development of the modular Additive Manufacturing machines, and associated economies of scale, are said to have contributed to the improvement of the gross margin to 71%, an increase of ten percentage points compared to 2022.
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Exentis confirmed that it had returned to profitability, posting €1.12 million on EBITDA level in the financial year 2023. The corresponding operating margin was 6%. The company claims that a significantly better margin would have been achieved if the German federal government had not cancelled the financial subsidies for e-mobility, which reportedly delayed the call-offs of ordered Additive Manufacturing machines.
In 2023, the number of patent claims increased by 25% to 4,882. With an average remaining patent term of fifteen years, the license-based business model, with its recurring revenue generation, is expected to be well-positioned to deliver earnings with above-average profitability in the future.
Exentis hopes to further strengthen its board of directors with two experts, proposing Dr Silvio Inderbitzin, former CEO of Spirig Pharma, to the shareholders as a new member of the board at the Annual General Meeting on June 21, 2024, in Malterdingen, the Exentis development and final assembly site near Freiburg in Germany. This is said to reflect the increased demand for patient-specific solutions in the pharmaceutical sector as well as in the field of designated nutraceuticals.
Michael Widmer will also be proposed to the Annual General Meeting as a new board member. Widmer has accompanied Exentis for many years and is highly experienced in developing and internationalising companies.
Exentis has stated that it has never recorded such a high volume of offers as at the end of the financial year 2023. Based on multiple current customer projects that will reportedly result in system and license sales as well as foreseeable contract manufacturing, revenues of approximately €51.02 million, from today’s perspective, are expected for the financial year 2024, along with a further increase in profitability.
The company has shared that its new core market, the USA, has also gotten off to an outstanding start, with fifteen companies having decided to pursue development projects with Exentis.
