Prodways Group S.A. (0RQB) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. I welcome you to the presentation of ProRes Group's results. I am Michael Ohana, CEO of ProRes Group, and I'm here with our CFO, Laurent Cardin, to present our full year 2030 results. I will start with a few comments on the activity, which will be followed by a presentation of the financial results by Laurent, and we'll conclude with some comments on our perspectives. As usual, we'll leave some time for a Q&A session at the end of the presentation. So, let's start with the key figures. We had announced 12 months ago that the year 2023 will be a year of transition, and it has been more challenging than expected. We are disappointed by the overall performance compared to what we expected initially, but we managed to generate a decent profitability and are still generating a positive cash flow. Turnover stands at €75 million, impacted essentially by a change in classification under accounting standards. Without this change, revenues would have been stable compared to 2022. The current EBITDA margin stands at 8%, €6 million. Finally, a cash generation of €4 million which demonstrates Prodways' capacity to maintain financial discipline. In this year of transition, it is a relatively good set of results for Prodways compared to other players in the 3D industry. And we expect better results in 2024. Just a quick reminder for those who have recently discovered us about the structure of our offer. We are structured into two divisions. The systems division, where we provide our customers who wish to produce 3D parts on their own with printers, materials and software to design their own parts. The product division, 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...