French 3D printer producer and repair supplier Prodways Group has reported its monetary earnings for the primary quarter of 2020.
Consolidated income for the three months ended March 31, 2020, amounted to €15.5 million, representing a lower of 11 p.c from Q1 2019, which was €17.four million.
With a compulsory dwelling confinement order issued in mid-March, the consequences of the COVID-19 pandemic have had a direct affect on Prodways’ income for the quarter. A few of the firm’s short-cycle actions, notably within the medical sector, have been affected by the lockdown measures in place within the nations the place Prodways operates.
3D printed merchandise from Prodways. Picture by way of Prodways
Prodways Group Q1 2020 income
Prodways’ monetary outcomes are reported throughout two divisions: Merchandise and Techniques. Merchandise refers back to the firm’s income generated from the design and manufacture of on-demand components and medical purposes. The Techniques division, alternatively, contains 3D software program, 3D printers, and associated supplies and providers.
For Q1 2020, Techniques contributed €9.eight million of the entire €15.5 million income for Prodways. This determine represents a 6.three p.c lower from the identical interval in 2019. The corporate explains that its Machines and Software program actions posted a slowdown, nevertheless, its Supplies exercise carried out properly, up by 25 p.c.
Prodways states that the constructive efficiency of its Supplies income displays the rise in put in base of 3D printers devoted to manufacturing purposes. As such, the corporate was capable of safe main contracts in its liquid resin gross sales exercise with two European dental specialists throughout Q1 2020. In response to Prodways, each these companies alone are anticipated to make use of a number of dozens of tonnes of supplies as soon as their manufacturing cycles have stabilized.
(in € hundreds of thousands)
Construction & disposals
The Merchandise division posted income of €5.6 million in Q1 2020, down 19.6% in comparison with the €7 million generated for a similar interval in 2019. Prodways’ medical actions (audiology, chiropody and dental) have been affected by the sudden shutdown of its clients’ operations as of mid-March, with the entire closure of most practitioners’ workplaces, bringing these companies to a halt. The well being disaster brought on by the COVID-19 pandemic has additionally slowed down the corporate’s income from components manufacturing, nevertheless this line of enterprise continues to be in operation. Prodways explains that measures have been carried out to adapt the manufacturing setting and guarantee individuals’s security.
Exercise in Q1 2020
Prodways posted numerous updates all through the primary quarter of 2020, together with a collection of 3D printer gross sales to main chemical firms for R&D and manufacturing purposes. The corporate offered a collection of its selective laser sintering machines to DSM, BASF, and an unnamed French chemical firm, together with its ProMaker P1000 and ProMaker P2000 ST 3D printers.
The corporate additionally introduced that it’s going to act as a reseller for 3DBioCAD, the dental CAD/CAM division of B&B Dental Ceramic Arts’ full-service dental laboratory. Prodways would be the first dental reseller for the Renton-based firm, strengthening its footprint within the US. Prodways additionally revealed it was working with automotive manufacturing firm Continental Engineering Companies to 3D print instruments and prototypes.
Moreover, the corporate introduced that it had acquired a minority stake in its North American associate XD Innovation, a Dassault Systèmes Worth Options Companion that helps clients within the vitality, protection, automotive, and aerospace sectors.
ProMaker P1000 3D printer. Picture by way of Prodways.
Pandemic response and outlook for 2020
Prodways explains that it has taken steps to cut back its prices and modify its manufacturing services for the reason that begin of the coronavirus disaster. The corporate tailored its on-site actions to guard the well being of its workers and carried out a enterprise continuity plan and partial exercise measures for practically 50% of its workers in France and overseas.
Prodways’ groups throughout Europe and North America have joined forces to assist help the battle in opposition to COVID-19 via 3D printing. In partnership with its community of shoppers, the corporate has made its 3D printers accessible to manufacture components utilized in protecting face shields so as to tackle the wants of the medical professionals.
On its 2020 outlook, Prodways states that it has taken all the required measures to greatest adapt to authorities suggestions and plans to renew sure actions as quickly because it has secured the required means and fulfilled worker security situations. The corporate has accessible money and money equivalents of €20 million as of 31 March 2020.
Prodways expects a substantial affect on its Q2 earnings assertion, with its exercise having remained closely disrupted in April, regardless of the primary indicators of a restart to enterprise noticed on the finish of the month. Within the medium time period, Prodways explains that it’s assured of its outlook and potential, as most of its finish markets should not anticipated to be structurally affected by the present disaster.
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Featured picture reveals Prodways excessive precision 3D printing. Photograph by Michael Petch.
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