Lübeck, Germany (pta007/12.05.2022/08:00) -
May 12, 2022. SLM Solutions Group AG ("SLM Solutions", "SLM" or the "Company") announces financial results for the first quarter of 2022 with revenue increasing by 7% to EUR 16.4 m as compared to Q1 2021 (EUR 15.4 m). Order intake during the first quarter of 2022 increased to EUR 16.9 m, up 25% as compared to Q1 2021 (EUR 13.4 m). During the first quarter of 2022, SLM Solutions received two additional orders for the NXG XII 600, including an order from a defense company. As of the end of March 2022, SLM Solutions has received orders for the NXG XII 600 from the automotive, energy, space, aviation, service bureau and the defense industries.
Sam O'Leary, CEO of SLM Solutions said, "During the first quarter of 2022, we have further strengthened our order backlog position, driven by a robust order intake during the quarter and delivered year-over-year topline growth. This outcome, despite various challenges including the ongoing supply chain disruptions, is indicative of the significant underlying potential of the business, which I am confident we will continue to unlock over the coming periods. Our significant order backlog position, which has increased for the fourth quarter in a row, provides us with a strong base for the rest of the year."
SLM Solutions reported an EBITDA of EUR -4.4 m for the first quarter of 2022, as compared to Q1 2021 (EUR -2.1 m). This decrease was primarily due to the underutilization of production capacity due to supply chain disruptions resulting in limited availability of some parts, especially electronic components.
Working capital increased to EUR 38.5 m as of March 2022 as compared to year-end 2021 (December 2021: EUR 33.3 m), primarily due to the increase in inventories related to upcoming deliveries of several systems including the NXG XII 600.
Outlook for FY 2022
SLM Solutions reaffirms its guidance for FY 2022 with revenue of at least EUR 100.0 m, reflecting an increase of at least 33% year-over-year. Additionally, the Company expects to achieve break-even EBITDA on a quarterly basis in the second half of 2022.
Dirk Ackermann, CFO of SLM Solutions said, "Similar to other companies, we continued to experience supply chain pressures during the first quarter. While this was the first quarter in which our revenue was impacted due to being unable to fulfil several orders, we remain confident that we can deliver our target revenue for FY 2022 given our ongoing commercial strength. Furthermore, we expect to see gains from several measures which we have undertaken to boost operational efficiencies. These will lead to an improvement in profitability and enable us to reach our target of break-even EBITDA on a quarterly basis in the second half of 2022."
Earnings Presentation on 12 May 2022
SLM Solutions' report for the first quarter of 2022 (German and English) will be made available in the course of the day in the "Investor Relations" section of www.slm-solutions.com. The Management Board of SLM Solutions Group AG will present the figures for Q1 2022 in an earnings presentation today, 12 May 2022, at 4 p.m. CET. The presentation can be followed online via livestream: https://www.webcast-eqs.com/slm20220512
About SLM Solutions
SLM Solutions is an integrated solutions provider and metal additive manufacturing partner. The Company is vested in customers' long-term success with metal additive manufacturing. Robust Selective Laser Melting machines optimize fast, reliable, and cost-efficient part production, and SLM Solutions' experts work with customers at each stage of the process to provide the support that elevates the use of the technology and ensures their return on investment is maximized. A publicly traded Company, SLM Solutions Group AG is headquartered in Germany, with offices in Canada, China, France, India, Italy, Japan, Singapore, South Korea, and the United States.
For more info contact: www.slm-solutions.com
This release contains statements on the future development of SLM Solutions. These forward-looking statements are based on the current expectations, presumptions, and forecasts of the Management Board as well as the information available to it to date and have been prepared to the best of its knowledge and belief. No guarantee or liability for the occurrence of the future developments and results specified can be assumed in respect of such forward-looking statements. Rather, the future developments and results are dependent on a number of factors. They entail risks and uncertainties beyond the Company's control and are based on assumptions which could prove to be incorrect. Notwithstanding any legal requirements to adjust forecasts, SLM Solutions does not assume any obligation to update the forward-looking statements contained in this release.
|Emitter:||SLM Solutions Group AG|
|Contact Person:||Jacob Sreekumaran|
|Phone:||+49 451 4060-3000|
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