Prodways reaches record sales in the first half of 2022

Prodways Group, a French manufacturer of industrial 3D printers and service company, saw a +22% increase in revenues in the first half of 2022 of EUR 41.6 million. This is +EUR 7.5 million more than in the first half of 2021. The increase was particularly visible in the first quarter of this year. however, overall, the company reported record production of machinery, materials and software sales. With all this in mind, Prodways expects to achieve +15% revenue growth throughout 2022.

At the end of last year, Prodways was spun off by Groupe Gorgé and has since independently reported its financial results broken down into two segments: ‘systems’ and ‘products’. Both showed strong growth in the first half of 2022, however, it is the sales of 3D printers (or systems) that are mainly driving sales, generating EUR 26.6 million in revenue. This is +23% more than in the first half of 2021.

Prodways explains this growth by its steadily expanding recurring revenue base, which contributed to record machine sales during this period. In addition to selling six more 3D printers to dental customers, the company also noticed that some major customers are implementing their technologies in other areas of their business, thus improving the commercial prospects in an industrial manufacturing setting.

On the product side, Prodways generated EUR 15.3 million in revenue, i.e. +21.3% more than in the first half of 2021. The company reports that high material sales growth, especially among prosthetic customers, achieving all revenues for the 2019 fiscal year alone. in the first half of this year.

After a strong start to the year, Prodways raised its guidance from its previous forecast of 10% year-on-year growth to 15%. The company also says that “cost control and supply chain management despite the tight global environment” has enabled it to be more profitable than last year and to be geared towards opportunities for further growth.

Source: www.prodways-group.com