Groupe Gorgé 3D Printing revenue up 18% for first half of 2017

Groupe Gorgé has reported numbers for the first half of the year. The French company runs several divisions focused on high technology, of these 3D printing is the best performer according to the latest financial data. This continues a trend of increasing revenue from 3D printing at the company.

Total revenue for the first 6 months of the reporting period was €136.7 million. This is a decrease of 3.6% compared with the first half of 2016. The 3D printing division reported an 18.2% increase with  €14.6 million of revenue recorded.

However, this increase was offset by a decline in the Protection of High Risk Installations division, the company account for this decline saying the figure was, “affected by a particularly high comparison basis.”

Groupe Gorge H1 Q2 2017 revenue statement.
Groupe Gorge H1 Q2 2017 revenue statement.

Perfecting reliability

Regarding today’s numbers Groupe Gorgé says, “The Systems business, stable compared to the first half of 2016, sales of the new ProMaker P1000 machine contributed only €0.5 million as marketing was slowed down in order to perfect its reliability. At the same time, the Products business, up 50.5% in the first half of 2017, made significant progress enabling to achieve a  growth markedly greater than the majority of listed players in the sector.”

3D Printing at Groupe Gorgé began in 2013 when the group bought Phidias, now Prodways, further expansion came with the acquisition of Deltamed in 2014, Initial, Norge Systems and Exeltec in 2015.

Prodways subsidiary of Groupe Gorgé Image via: Prodways on Twitter
Groupe Gorgé work in several high-tech industries. Image via: Prodways on Twitter

Prodways IPO raises €50.7 million

During the reporting period Groupe Gorgé also held a successful IPO for Prodways – raising €50.7 million and listing on the Euronext Paris stock exchange in May 2017. Prodways’ share price initially rose to over €7, and is currently trading marginally below launch price at €5.12.

Groupe Gorgé say, “The division continued to expand its offer with the announcement of its new Rapid Additive Forging technology for 3D printing of large metal parts and of its new generation of 3D printers, ProMaker LD series, dedicated to the dental industry.”

With today’s announcement Groupe Gorgé has reconfirmed its objective of consolidated revenue close to €300 million in 2017.

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Featured image shows the Prodways ProMaker L5000. Photo by Michael Petch.