Prodways Group reports 2019 revenue growth, exceeds target
February 26, 2020
Prodways Group, a Groupe Gorgé company headquartered in Paris, France, has reported its financial results for the full year 2019. Consolidated revenue for the year was said to be €71.3 million, a growth of 17.1% (6.3% organic) compared to 2018, and in excess of its annual objective. For the fourth quarter, the group’s consolidated revenue was up by 3.1% (0% organic) compared to Q4 2018.
The group’s Systems division, comprising AM software, machines, related materials and services, posted revenue of €44.9 million over the financial year, up 16.8% on a reported basis and 7.6% on a comparable basis. In the fourth quarter 2019, the division’s revenue amounted to €13.6 million, up 0.5%.
This quarterly performance is said to reflect contrasted trends within the division, the group stated. Traditional business activities are said to have taken up positions in the clear aligners market and recorded some commercial successes with leading chemical groups or in Rapid Additive Forging, whereas Solidscape’s jewellery business is recovering at a slow pace. The Materials business continued to post double-digit growth and the Software business maintained solid performance levels after a record fourth quarter 2018.
The Products division, which comprises the design and manufacture of on-demand parts and medical applications, posted revenue of €27 million for the 2019 financial year, up 17.9% (3.1% organic). In the fourth quarter 2019, the division’s revenue amounted to €6.7 million, up 13.7% on a reported basis and 0.1% on a comparable basis.
Looking ahead to the 2020 financial year, Prodways Group stated that, with mass production materialising at a slow pace, it is ready to “seize market opportunities.” The group has for several years been involved in AM industrialisation projects in various business sectors, which involve a large number of machines dedicated to production applications consuming several tonnes of material.
Although no industrial orders were placed in 2019, the group hopes for a first order of this type in 2020. Its revenue growth target for the year 2020 is set at 5%.