Slide 1: 2023 Full-Year Results
19 MARCH 2024 2023 FULL-YEAR RESULTS
Slide 2: Summary
SUMMARY #01 Introduction #02 2023 activity: a challenging year and several measures taken #03 Financial results 2023 #04 Outlook #05 Q&A 2
Slide 3: Introduction
INTRODUCTION PRODWAYS GROUP
Slide 4: Key Figures 2023
KEY FIGURES 2023 8% HEALTHY REVENUES CURRENT EBITDA CASH GENERATION1 MARGIN € 75 M € 6.0 M € 4.1 M Stable vs 2022 Maintaining profitability in a without accounting change in Maintaining high gross Software activity margin and control over costs challenging year 2023 1 Cash flow from operations befor
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: 2023 Activity
S| 2023 ACTIVITY GROUP
Slide 7: 3D Printers & Materials: Taking Measures to Address Key Challenges
3D PRINTERS & MATERIALS: TAKING MEASURES TO ADRESS KEY CHALLENGES 2023 - KEY BUSINESS MEASURES TAKEN SHORT-TERM EFFECTS ELEMENTS IN 2023 AND EARLY 2024 IN 2024 Weak Printers sales (-20%) Refocusing the Printers Revenue growth activity on the & better operating Slowdown of manufacturing segment lever
Slide 8: Updating Our Offer for Manufacturing Clients
UPDATING OUR OFFER FOR MANUFATURING CLIENTS 1 2 3 Improving our Integration in the R&D on new MovingLight printers whole manufacturing materials for new for the dental market process industrial projects • Technological push on projectors Full integration of pre-printing • Working on the Software and
Slide 9: Digital Manufacturing: A Strong Position
DIGITAL MANUFACTURING: A STRONG POSITION MEASURES TAKEN SHORT-TERM EFFECTS IN 2023 AND EARLY 2024 IN 2024 +9% Adding new materials +€2 m of new opportunities REVENUE to our portfolio identified in Jan.2024 only GROWTH IN 2023 Deepening activity with Price increases existing flagship clients More rec
Slide 10: Audiology: Strong Growth with Industrial Clients
AUDIOLOGY: STRONG GROWTH WITH INDUSTRIAL CLIENTS MEASURES TAKEN SHORT-TERM EFFECTS IN 2023 AND EARLY 2024 IN 2024 +20% Reorganization of Sales Significant volume increase REVENUE & Marketing teams with large industrial clients GROWTH IN 2023 New R&D projects Price increases to enhance imprint & prod
Slide 11: Professionalization of Prodways Teams
PROFESSIONALIZATION OF PRODWAYS TEAMS They joined the Prodways adventure recently Enhancing the quality of our teams RICARDO DAMIEN NELL STEFAN with limited 3D Audiology 3D Software Head of CSR 3D Digital Manufacturing increase in Head of sales 10 year experience Head of Sales Senior Sales exepert i
Slide 12: Financial Results 2023
FINANCIAL RESULTS 2023 ProMake @ "a GROUP
Slide 13: Systems Division: A Challenging Year 2023
SYSTEMS DIVISION: A CHALLENGING YEAR 2023 REVENUES € 40 M 9% Current EBITDA margin -€10 m €3.5 m vs 2022 Significant loss on Printers -€7 m from change in accounting activity classification in Software activity 1 Transition to SaaS model in Software Decrease in Printers sales Strong profit from Mate
Slide 14: Products Division: Steady Growth
PRODUCTS DIVISION: STEADY GROWTH REVENUES € 35M 11 % Current EBITDA margin + 11 % €3.9 m +5% organic growth -€0.4m decrease vs 2022 Increasing contribution from of Auditech Strengthening of Sales & Marketing teams to boost 2024 growth & beyond Decreasing revenues from Cristal brand 14
Slide 15: P&L Statement 2023: Discipline in a Challenging Year
P&L STATEMENT 2023: DISCIPLINE IN A CHALLENGING YEAR FY 2023 FY 2022 Variation Variation (€M) (€M) (€M) (%) REVENUE impacted by the change in classification in Software in H2 2023 (-€6.5 m) -8% Revenue 74,6 80,7 -6,1 -10% organic Stable revenue without this change Current EBITDA1 6,0 11,4 -5,4 -48%
Slide 16: Cash Generation: +€2M in 2023
CASH GENERATION: +€2 M IN 2023 x x x +€4.1 M of cash Significant improvement in €3.3 M investments from operations1 working capital of €1.4 M in R&D & capex +€4 M from More improvement expected in disposal of a 2024 minority participation €16 M AVAILABLE CASH AT END-JUNE LOW LEVEL OF NET DEBT (€2.9
Slide 17: Perspectives
7 Perspectives PRODWAYS GROUP
Slide 18: 3D Markets: Positive Signals for 2024 and Beyond
3D MARKETS: POSITIVE SIGNALS FOR 2024 AND BEYOND Dental Investments picking up after a slowdown in 2023 Increasing production & improving quality Aerospace R&D projects maturing and SEVERAL going into industrial phases SUPPORTIVE TRENDS Electrical vehicules More & more project using 3D for special c
Slide 19: An Improved Operating Leverage to Benefit from Revenue Growth
AN IMPROVED OPERATING LEVERAGE TO BENEFIT FROM REVENUE GROWTH LOWER • Stopping small printers activity • Selling small dental lab activity ~440 HEADCOUNT • Professionalization of the teams people end-2024 vs 507 end-2023 -€5 m • Optimization of Printers teams LOWER FIXED • Regroupment of production
Slide 20: Comparable Revenue Basis for 2024
COMPARABLE REVENUE BASIS FOR 2024 Full year effect of classification change in Software € 75 m Refocusing on industrial € 59 m printers & stopping small 2023 2023 Indicative revenue IFRS revenues printers activity based on current scope Disposal of Cristal dental lab 20
Slide 21: Outlook 2024
OUTLOOK 2024 CONTINUING ON THE STRATEGY OF GROWTH & PROFITABILITY REVENUE HIGHER GROWTH EBITDA On a comparable MARGIN basis 21
Slide 22: Prodways Group
PROD GROUP
Slide 23: Contact
Contact Hugo Soussan h.soussan@prodways.com +33 1 44 77 94 86 +33 7 55 66 40 54