Prodways Growth of over 90%, management corrects projections upwards
The first nine months of 2018 saw the Prodways Group reaping a revenue of €41.5 million driven by acquisitions and strong dynamics in the machine business.
Industrial and professional 3D printing specialist, the Prodways Group, posted a revenue of €41.5 million from Q1-Q3, marking a rise of 90.5%. A high growth rate recorded at 95.3% in Q3 was driven primarily by the acquisitions of Avenao (Q4 2017) and Solidscape (Q3 2018), and strong dynamics in the machines business.
The Systems Division, comprising 3D software, 3D printers and related materials, generated a revenue of €8.9 million in Q3, noting a rise of 239.7% over Q3 in 2017. The machines and materials businesses were dynamic, reflecting an accelerated sales pace of the ProMaker LD-10 3D printer. Other growth factors include a sale related to the rapid additive forging technology and the strong performance in the software business, the company explains.
Revenue in the Products Division comprising parts design on demand and medical applications amounted to €5.1 million in Q3, up 9.9% over the same period in 2017.
The consolidation of the US-based Solidscape in July contributed to the strong business dynamics and has led the management to correct its revenue objective, which was initially announced at €53 million, to exceed €58 million this year.