SLM Solutions reports revenue increase of 41% in 2022
March 30, 2023
SLM Solutions Group AG, Lübeck, Germany, has announced its financial results for FY 2022 with revenues of €105.7 million and operational profitability on an adjusted EBITDA level in the last three consecutive quarters. The company’s FY 2022 revenue is said to reflect a year-over-year increase of 41%, as compared to the FY 2021.
The company further improved its operational profitability and posted an adjusted EBITDA – which excludes expenses related to the Nikon takeover – of €-1.2 million, improving significantly compared to FY 2021 (adjusted EBITDA FY 2021 of €-8.6m). With adjusted EBITDA for Q4 2022 amounting to €0.3 million, SLM Solutions has posted three consecutive quarters of positive operational profitability.
The company’s strong performance in 2022 was reputedly driven by the successful roll-out of the NXG XII 600, strong revenue from the company’s broader product portfolio as well as its growing after-sales business.
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In FY 2022, SLM Solutions took in orders totalling €87.9 m, an increase of 25% compared to FY 2021. Against the backdrop of several global and macroeconomic headwinds, this performance is said to highlight the strength of the value proposition provided to customers.
Sam O’Leary, CEO of SLM Solutions stated, “With revenues of €106 million, we have outperformed for the third consecutive year, while further continuously improving our operational profitability. We also joined forces with Nikon which will further strengthen our ability to stay at the forefront of metal Additive Manufacturing and innovation and deliver superior products and solutions to our customers.”
Driven by a strong emphasis on maintaining and enhancing operational efficiencies as well as the businesses’ operating leverage, SLM Solutions was turning EBITDA positive on a quarterly basis in Q2 2022, reporting an EBITDA of €-7.8 million for FY 2022 and €-1.2 million adjusted for one-off expenses related to the Nikon takeover transaction. SLM Solutions strives to stay at the forefront of innovation in the industry; spend for research & development thus remained high in FY 2022 at €18 million – or 17% – of revenue increasing by 23% as compared to FY 2021.
Outlook for FY 2023
SLM Solutions said that it expects to continue on its growth path in FY 2023, with notable revenue growth. Additionally, the management board expects a significantly improved EBITDA for FY 2023.
Dirk Ackermann, CFO of SLM Solutions, concluded, “Despite macroeconomic headwinds such as supply chain pressures and rising interest rates, our team was successful in delivering on goals with respect to our top line as well as our bottom line. Having already achieved break-even profitability on a quarterly basis, we now look forward to further improving our operational profitability in FY 2023.”
SLM Solution’s Annual Report for the financial year 2022 is available on the company’s website.