Prodways Group, an organization specializing in industrial {and professional} 3D printing, is discontinuing its line of small printers for jewellery casting. In accordance with the corporate, the disappointing efficiency in 2023, primarily resulting from weak equipment gross sales, has led the group to take measures to rapidly enhance its outcomes.
Prodways Group stays a key participant within the international 3D printing scene, each technologically and when it comes to monetary profitability, and this resolution is anticipated to strengthen this place by permitting the group to concentrate on the phase of enormous industrial printers.
For a number of years, the corporate has been advertising small printers for the high-end jewellery sector underneath the Solidscape model. The gross sales of those small printers – with a unit worth of roughly €15k – in addition to the related supplies and providers, reportedly generated a turnover of round €5 million in 2023, and a major working loss. The cessation of this exercise is due to this fact anticipated to have a optimistic structural influence on Prodways’ profitability.
Though the marketplace for 3D printing within the jewellery trade remains to be rising, the weak efficiency of those programs final yr has led the group to reassess the efforts wanted to show round this small printer enterprise, particularly compared with the prospects for industrial printers. Prodways Group will shift focus from jewellery to giant high-value-added printers and related supplies, particularly the MovingLight vary – a phase with extra room for progress and a better profitability profile. The corporate additionally advantages from its positioning in present markets, such because the medical sector, and will generate alternatives by way of new industrial purposes for sectors similar to aeronautics.
The shutdown of the jewellery exercise ought to be finalized by the top of summer time 2024. The influence within the 2023 monetary statements is at the moment estimated at round €15 million in depreciation (non-cash influence), with the determine being finalized throughout the ongoing consolidation of the 2023 monetary statements. In 2024, the prices associated to this shutdown are anticipated to signify simply over €1 million, primarily within the first half of the yr.