Lübeck, Germany (pta/10.11.2022/08:00 UTC+1)
November 10, 2022. SLM Solutions Group AG ("SLM Solutions", "SLM" or the "Company") announces strong financial results for the nine-month period ending September 2022 with an order intake for 9M 2022 at a record high of EUR 62.7 m, increasing by 47% as compared to 9M 2021. The NXG XII 600 which is designed for series production continues to see robust interest across a broad spectrum of customer segments and is expected to drive further growth of the business. Additionally, SLM Solutions' existing product portfolio remains a key component of the value proposition to several industries as customer adoption of additive manufacturing technologies continues to gain momentum. At the end of September 2022, SLM Solutions' order backlog amounted to EUR 50.8 m, higher by 49% as compared to September 2021 (EUR 34.0 m).
Despite ongoing supply chain constraints, SLM Solutions was able to deliver another strong quarter with revenues of EUR 26.9 m for Q3 2022, being 39% above the comparable period in 2021 (Q3 2021: EUR 19.3 m). For the nine-month period ending September 2022, the Company recorded revenues of EUR 69.4 m, increasing 36% over the prior period (9M 2021: EUR 51.1 m). The Machine Sales business segment continued to benefit from the Company's innovative product portfolio. The After-Sales business segment generated EUR 15.5 m during 9M 2022 and increased by 16% as compared to 9M 2021 (EUR 13.3 m), reflecting the success of SLM Solutions' focus on maximising customer satisfaction.
SLM Solutions reported an EBITDA of EUR -1.5 m for 9M 2022, improving by 80% as compared to the corresponding period in 2021 (EUR -7.6 m). This improvement is reflective of the notable operational leverage in the business. The Company generated an EBITDA of EUR 1.5 m for Q3 2022, a significant improvement as compared to the same period in 2021 (Q3 2021: EUR -1.4 m). Sequentially, EBITDA grew 12% in Q3 2022.
Working capital as of the end of September 2022 increased to EUR 42.2 m as compared to year-end 2021 (EUR 33.3 m). This increase was primarily driven by a higher level of inventories as the Company prepares for upcoming shipments.
Sam O'Leary, CEO of SLM Solutions commented, "Building on the strong momentum in the first half of 2022, we were able to deliver impressive results for Q3 2022. We posted another record revenue performance, while further improving our operational profitability. Despite ongoing challenges we continue to innovate and deliver value for our customers by redefining manufacturing."
Outlook for FY 2022
Given the strong order backlog position of the Company and robust demand momentum, SLM Solutions reaffirms its guidance for FY 2022 with revenue of at least EUR 100 m. With regards to the EBITDA guidance for FY 2022, the Company already achieved break-even EBITDA in Q2 2022 and repeated this performance also in Q3 2022. Looking ahead, SLM Solutions aims to work towards continuous improvement of its operational profitability.
In September 2022, Nikon Corporation, through its subsidiary Nikon AM. AG (collectively, "Nikon"), initiated a voluntary public takeover offer for all outstanding shares of SLM Solutions at a price of EUR 20 per share. Following the initial acceptance period of the voluntary public takeover offer, Nikon has secured 86.17% of the share capital and the voting rights of SLM taking into account the shares that may come into existence from the conversion of all Convertible Bonds due 2026.
Dirk Ackermann, CFO of SLM Solutions said, "We continue to make progress on all fronts of the business with order intake, backlog and revenue at record highs. Looking forward, we are well positioned to further develop our top line while also making meaningful improvements to our operational profitability."
Earnings Presentation on 10 November 2022
SLM Solutions' report for the nine-month period ending September 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 CEO and CFO of SLM Solutions Group AG will present the figures for 9M 2022 in an earnings presentation today, 10 November 2022, at 4 p.m. CET. The presentation can be followed online via livestream: https://www.c-meeting.com/web3/join/XERYCMXQ9DK7QP
About SLM Solutions
SLM Solutions is a global provider of integrated metal additive manufacturing solutions. Leading the industry since its inception, it continues to drive the future of metal AM in every major industry with its customers' long-term success at its core. SLM Solutions is home to the world's fastest metal additive manufacturing machines boasting up to 12 lasers and enabling build rates of up to 1000ccm/h. With a portfolio of systems to suit every customer's needs, along with its team of experts closely collaborating at every stage of the process, SLM Solutions leads the way on return on investment with maximum efficiency, productivity, and profitability. SLM Solutions believes that additive manufacturing is the future of manufacturing and has the desire and capability to take its customers there – right now.
SLM Solutions is a publicly-traded Company headquartered in Germany, with offices in Canada, China, France, India, Italy, Japan, Singapore, South Korea, and the United States.
Further information is available on 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.
SLM Solutions Group AG
|Contact Person:||Jacob Sreekumaran|
|Phone:||+49 451 4060 3122|
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