Prodways Group S.A. (0RQB) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. I welcome you to the presentation of Prodress Group results. I'm Michael Ohana, CEO of Prodress Group, and I'm here with our CFO, Laurent Cardin, to present our first half results of the year. I will start with a few comments on the activity, which will be followed by a presentation of the financial results by Laurent, and I will conclude with some comments on our perspectives. As usual, we'll leave some time for question and answer session at the end of the presentation. So let's start with the key figures. Prodress Group generated 31 million of Euro of revenue in the first half. That is minus 4% versus last year on a comparable basis. This performance is a bit disappointing, but still correct in the context of operational changes and restructuring plans. The second quarter concluded a transition period, paving the way for revenue growth in the second half of 2024. The EBITDA margin stands at 8%, still below the group's expectations, but improving four points since the second half of last year. This is a sign that the measures we are taking to improve our performance are giving results. The cash generated from operations remains positive despite the numerous changes we implemented since the start of the year. ProtoWays maintains a healthy financial discipline. Just a quick reminder for those who have recently discovered us about the structure of our offer. We are structured into two divisions. The system divisions, where we provide our customers who wish to produce 3D parts on their own with printers, materials and software to design their parts. The product divisions, where we offer all customers who wish to have high-level, varied and high-quality printing parts produced for them. We have simplified this division early 2024. with the disposal of o...