Prodways Group Sa · EURONEXT:ALPWG
Prodways Group Sa — H1 2024 Earnings Presentation
20 slides from Prodways Group Sa's earnings presentation, Sep 18, 2024
Slide 1: 2024 Half-Year Results
18 SEPTEMBER 2024 2024 HALF-YEAR RESULTS
Slide 2: Summary
SUMMARY #01 Introduction #02 H1 2024 activity #03 Financial results H1 2024 #04 Outlook #05 Q&A 2
Slide 3: Introduction
INTRODUCTION PRODWAYS GROUP
Slide 4: Key Figures H1 2024
KEY FIGURES H1 2024 8% HEALTHY REVENUES CURRENT EBITDA CASH GENERATION1 MARGIN € 31 M € 2.5 M € 2.5 M -4% +4 pts vs H2 2024 Healthy cash generation despite on a comparable basis1 showing improvement in numerous changes in the company profitability 1 Adjusted for the change in accounting classificati
Slide 5: Two Divisions Refocused on Profitable Activities
TWO DIVISIONS REFOCUSED ON PROFITABLE ACTIVITIES SYSTEMS DIVISION PRODUCTS DIVISION ~50% of revenues ~50% of revenues Providing clients with 3D Printing solutions Printing parts on-demand for industrial to set-up their production & medical applications 3D 3D 3D 3D 3D PRINTERS MATERIALS SOFTWARE DIGI
Slide 6: H1 2024 Activity
S| H1 2024 ACTIVITY GROUP
Slide 7: Systems Division: Refocusing Finalized for 3D Printers & Materials
SYSTEMS DIVISION / REFOCUSING FINALIZED FOR 3D PRINTERS & MATERIALS STOPPING SMALL PRINTERS FOCUSING ON INDUSTRIAL PRINTERS WITH ACTIVITY FOR JEWELLERY HIGH ADDED-VALUE Decision taken in January 2024 Reorganization of the sales team and the production finalized in H1 2024 Operation finalized in Q2 2
Slide 8: Systems Division: 3D Software Growing
SYSTEMS DIVISION / 3D SOFTWARE GROWING STRATEGY & POSITION YIELD RESULTS New commercial director and sales team are delivering >15% CURRENT EBITDA margin Transition to SaaS model well managed Increasing commercial pipeline 8
Slide 9: Systems Division: Performance Improving
SYSTEMS DIVISION: PERFORMANCE IMPROVING REVENUES € 15 M 13 % Current EBITDA margin Stable on a comparable basis €2 m -€6.3 m from change in accounting First effect of the refocusing classification in Software activity 1 in Q2 2024 Change in accounting Good dynamic in Software classification in Softw
Slide 10: Products Division: A Challenging First Half 2024
PRODUCTS DIVISION: A CHALLENGING FIRST HALF 2024 SOME CHALLENGES IN Action plan being implemented to improve THE FIRST HALF 2024 revenues & profitability Reorganization of the production in audilogy More & Faster impression taking for hearing protections New sales & marketing organization Improve in
Slide 11: Products Division: Disappointing Performance
PRODUCTS DIVISION: DISAPOINTING PERFORMANCE REVENUES € 16M 6% Current EBITDA margin -8 % €1.0 m on a comparable basis Digital manufacturing sales in Decreasing due to lower slight decrease revenues Audiology activity impacted by organizational changes 11
Slide 12: Financial Results H1 2024
FINANCIAL RESULTS Hi 2024 ProMake @ "i GROUP
Slide 13: P&L Statement H1 2024
P&L STATEMENT H1 2024 REVENUE impacted by the change in S1 2024 S1 2023 Variation Variation (€M) (€M) (€M) (%) classification in Software, stop of jewellery activity and disposal of Cristal (-€10.6 m) Revenue 31,1 43,0 -12,0 -28% Revenue is down €1.4m on a comparable basis Current EBITDA1 2,5 4,8 -2
Slide 14: Positive Cash from Operations
POSITIVE CASH FROM OPERATIONS x x x +€2.5 M of cash Increase in working capital of €0.6 m investments from operations1 ~€1m due to usual seasonality in R&D & capex in the first half Improvement expected in H2 2024 1 Before change in working capital 2 Before IFRS16 lease debt and including treasury s
Slide 15: Financial Discipline Maintained
FINANCIAL DISCIPLINE MAINTAINED €13.2 m €3.8 m Cash available Net debt vs €16.2 m end-2023 vs €2.9 m end-2023 15
Slide 16: Perspectives
7 Perspectives PRODWAYS GROUP
Slide 17: An Improved Operating Leverage
AN IMPROVED OPERATING LEVERAGE LOWER HEADCOUNT • Stopping small printers activity • Selling small dental lab activity 416 • Professionalization of the teams people end-June 2024 vs 507 end-2023 +€3 m • Optimization of Printers teams LOWER FIXED • Regroupment of production sites COSTS in Audiology cu
Slide 18: Outlook 2024
OUTLOOK 2024 REVENUE GROWTH HIGHER EBITDA +1% to +5% MARGIN On a comparable basis 18
Slide 19: Q&A
PROD GROUP
Slide 20: Contact
Contact Hugo Soussan h.soussan@prodways.com +33 1 44 77 94 86 +33 7 55 66 40 54