In line with its announcement of March 19 (link to press release) the Board of Directors-convened by its new Chair-has announced new priorities regarding the Group's strategy. The Board of Directors is considering the possibility of asset disposals within the Systems division, which currently generates little synergy within the group. This division includes Software 3D, Printers, and 3D Materials activities.
At the end of 2024, the company began reflecting on new strategic directions in a context of improved performance, especially in the second half of 2024. Despite a challenging market for 3D printing, Prodways Group has maintained a sound financial structure and taken steps to improve business profitability. The company remains one of the sector's most robust players. The announcement of these reflections has already contributed to a recovery in the share price of Prodways Group.
The Board of Directors of Prodways wishes to clarify these options as the Group's operational performance improves. This is particularly notable in the Systems division, which is achieving a good level of profitability. In addition, these activities generate few synergies within the Group. For these reasons, the Board expects that the subsidiaries of the Systems division and their employees would have a better future outside the Group, allowing them to fully realize their growth opportunities.
As for the Products division, ongoing initiatives are expected to enhance profitability and grow revenue. The division has promising development prospects and is currently the main focus of management, who are working to unlock its full potential.
Prodways Group is therefore considering selling one or more activities of the Systems division individually. The majority of proceeds from these sales could then be distributed to shareholders as exceptional dividends, thereby crystalizing the value of these activities. The company will retain a portion of the proceeds to service debt and ensure business continuity.
Any contemplated disposals would be subject to prior approval by the Annual General Meeting of shareholders if they constitute significant assets.
The Gorgé family, the Group's main shareholder, supports this plan, but the two representatives of Gorgé SA on the Board did not participate in the vote. Gorgé SA has filed an application with the AMF (French Financial Markets Authority) to establish that it does not control Prodways Group and is not required to launch a public offer if this strategy is implemented by the Company.
About Prodways Group
Prodways Group specializes in industrial and professional 3D printing with a unique position as an integrated European player. The Group has developed across the entire value chain of 3D printing (software, printers, materials, parts & services) with a technologically advanced industrial solution. Prodways Group offers a wide range of 3D printing systems and premium composite, hybrid, or powder materials (SYSTEMS division). The Group also manufactures and markets on-demand parts, prototypes, and small series printed in 3D, in plastic and metal (PRODUCTS division). Prodways Group serves a wide range of sectors, particularly in the medical field.
Listed on Euronext Paris (FR0012613610 - PWG), the Group reported in 2024 revenue of €59 million.
For further information: https://www.prodways-group.com
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Contacts
INVESTOR RELATIONS
Hugo Soussan
Investor relations
Tel: +33 (0)1 44 77 94 86 / h.soussan@prodways.com
Anne-Pauline Petureaux
Shareholders contact
Tel: +33 (0)1 53 67 36 72 / apetureaux@actus.fr
MEDIA CONTACT
Manon Clairet
Financial media relations
Tel: +33 (0)1 53 67 36 73 / mclairet@actus.fr
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https://www.actusnews.com/documents_communiques/ACTUS-0-92793-cp_prodways_orientation-strategique_en.pdf
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