SLM Solutions Group reports lower than expected orders for its fiscal year 2019
July 27, 2019
SLM Solutions Group AG, Lübeck, Germany, has reported that it will not meet the revenue and EBITDA guidance of the previous management team which was communicated earlier this year, and will not set a new revenue and EBITDA guidance for the year.
The company stated that the weak business performance is driven by lower than expected orders in the first half of the year and order expectations that did not materialise as anticipated by the previous management. Despite a strengthening market environment for Additive Manufacturing machines, SLM Solutions reported that North American sales have continued to underperform.
According to the company, with the leadership of Meddah Hadja, its new CEO, a thorough assessment of the company and the necessary steps required to improve its growth and profitability profile is underway.