Prodways Group, an organization specializing in industrial {and professional} 3D printing, is discontinuing its line of small printers for jewellery casting. In accordance with the corporate, the disappointing efficiency in 2023, primarily resulting from weak equipment gross sales, has led the group to take measures to shortly enhance its outcomes.
Prodways Group stays a key participant within the international 3D printing scene, each technologically and by way of monetary profitability, and this resolution is predicted to strengthen this place by permitting the group to deal with the section of enormous industrial printers.
For a number of years, the corporate has been advertising small printers for the high-end jewellery sector underneath the Solidscape model. The gross sales of those small printers – with a unit worth of roughly €15k – in addition to the related supplies and companies, reportedly generated a turnover of round €5 million in 2023, and a major working loss. The cessation of this exercise is due to this fact anticipated to have a optimistic structural affect on Prodways’ profitability.
Though the marketplace for 3D printing within the jewellery business remains to be rising, the weak efficiency of those programs final 12 months has led the group to reassess the efforts wanted to show round this small printer enterprise, particularly compared with the prospects for industrial printers. Prodways Group will shift focus from jewellery to giant high-value-added printers and related supplies, specifically the MovingLight vary – a section with extra room for progress and a better profitability profile. The corporate additionally advantages from its positioning in present markets, such because the medical sector, and will generate alternatives via new industrial purposes for sectors equivalent to aeronautics.
The shutdown of the jewellery exercise must be finalized by the top of summer season 2024. The affect within the 2023 monetary statements is presently estimated at round €15 million in depreciation (non-cash affect), with the determine being finalized in the course of the ongoing consolidation of the 2023 monetary statements. In 2024, the prices associated to this shutdown are anticipated to characterize simply over €1 million, primarily within the first half of the 12 months.
