Solid Start to the FY 2021 for SLM Solutions
- Strong order in-take bolstered order backlog (EUR 31.8 m as of 31 March 2021 vs. EUR 23.7 m as of 31 March 2020)
- Q1 2021 revenue of EUR 15.4 m in line with management’s expectations (Q1 2020: EUR 17.8 m), supporting SLM’s full year outlook of at least 15% revenue growth in FY 2021
- EBITDA for Q1 improved to EUR –2.1 m (Q1 2020: EUR –3.0 m)
- Acceleration of revenue growth projected for second half of 2021
- Continued strong commercial traction for NXG XII 600: Memorandum of Understanding signed with a major Energy OEM
Luebeck, 12 May 2021 – In the first quarter of 2021, SLM Solutions Group AG ("SLM Solutions", “SLM” or the "Company"), a leading global provider of additive manufacturing technology, generated Revenue of EUR 15.4 m (Q1 2020: EUR 17.8 m) and recorded an improved EBITDA of EUR –2.1 m (Q1 2020: EUR –3.0 m). Following an improved order intake in the second half of 2020 in comparison to the first half of the same year, the steady recovery of SLM Solutions’ business was also noticeable in Q1 2021 with an order intake of EUR 13.4 m which was almost 5x higher than in Q1 2020 (EUR 2.9 m). SLM Solutions’ order backlog improved by EUR 8.1 m to EUR 31.8 m year-on-year (31 March 2020: EUR 23.7 m).
Sam O’Leary, CEO of SLM Solutions: “With order intake gaining traction over the last quarters, SLM Solutions has had a strong start to the new year. First quarter revenue was solidly in line with our expectations. A notable portion of our backlog will be converted into revenue over the next quarters as we project a significant acceleration of our growth especially in the second half of the year. A significant driver of our future growth is the commercialization of the NXG XII 600 which continues to exceed our already high expectations in terms of customer response. Most recently, SLM Solutions signed a memorandum of understanding with a major Energy OEM which, as with similar agreements with other customers, will follow a firm purchase order after achieving clearly-defined technical requirements.”
EBITDA for Q1 improved by EUR 0.9 m to EUR –2.1 m (Q1 2020: EUR –3.0 m), driven by a more cautious spending behavior.
Working capital decreased to EUR 28.2 m compared to EUR 37.0 m in Q1 2020, reflecting positive effects of SLM Solution’s improved inventory management.
Outlook for FY2021 confirmed
Based on the sound order backlog and the overall business dynamics, SLM Solutions reaffirms its outlook for 2021and expects revenue growth of at least 15% compared to 2020 and a year-on-year improvement in EBITDA.
Dirk Ackermann, CFO of SLM Solutions: “To support SLM Solutions’ accelerating growth, we further strengthened our liquidity position with the issuance of the second tranche of our 2020 convertible bond. The raised capital in the amount of 15 million euros will help us to ramp-up production of the NXG XII 600 and expand the required sales and service network.”
Earnings Presentation on 12 May 2021
SLM Solutions' report on the first three months of the financial year 2021 (German and English) will be made available in the course of the day in the "Investor Relations" section of www.slm-solutions.com. Today, 12 May 2021, at 4 p.m. CEST, the Executive Board of SLM Solutions Group AG will present the figures for Q1 2021 in an earnings presentation. The presentation can be followed online via livestream: https://www.webcast-eqs.com/slm20210512
About the company:
Based in Lübeck, Germany, SLM Solutions Group AG is a leading global supplier of metal-based additive manufacturing technology. The company's shares are traded on the Prime Standard of the Frankfurt Stock Exchange. The company develops and produces 3D printing machines and integrated system solutions in the field of Selective Laser Melting. SLM Solutions currently employs more than 400 people in Germany, France, Italy, the USA, Singapore, Russia, India and China.
Contact:
Dirk Ackermann
SLM Solutions Group AG
E-Mail: [email protected]