SLM reports record revenue growth in H1 2023 and officially changes its name

SLM Solutions has presented its financial report for the second quarter and first half of 2023, recording revenues of EUR 27.9 million, a subtle increase compared to the second quarter of 2022, when the company reached EUR 26 million. However, thanks to the very good results in the first quarter of the year, SLM Solutions achieved a record revenue for the entire first half of the year in the amount of EUR 52 million, which is an increase of +22% compared to the first half of last year.

Unfortunately, the record revenues were offset by an operating loss of -EUR 7.3 million, which is a significant increase compared to the loss of -EUR 1.7 million generated a year ago. Despite the huge demand for the flagship metal 3D printers – NXG XII 600 and a wide portfolio of other products, SLM Solutions faced many challenges. Highlights include unfavorable currency fluctuations, lower levels of special orders, rising electricity costs, and extraordinary expenses related to Nikon’s acquisition of the company in January 2023.

Thus, despite a significant increase in demand for industrial 3D printers for metal, the market environment and macroeconomic conditions are not conducive to profitability…

Notwithstanding the foregoing, SLM Solutions has announced the change of its name to “Nikon SLM Solutions AG”. In addition, in the first half of 2023, the company obtained a loan of EUR 28.7 million from Nikon, mainly to settle a significant portion of the 2017 convertible bonds. It also received a short-term loan of EUR 10 million from Nikon Europe BV.

Source: www.slm-solutions.com