This morning 3D printer manufacturers Groupe Gorgé SA (EPA:GOE) published financial results for the third quarter of 2016.
Posting total revenue of €202.6 million for the first nine months of the year (Q3’15 €175.5 million) represents a growth rate of 15.5%. Groupe Gorgé have three divisions, the smallest, by revenue, of which handles 3D printing.
Year to date revenue in the 3D printing segment for is reported as €17.7 million (Q3’15 €13.3 million), a 36.8% increase. Looking at the comparative three month period, the figures are less impressive with a €5.3 million in revenue compared to €4.9 million for the prior period, this is only a 7.5% increase. Furthermore 3D printing growth has slowed relative to Q1 and Q2, where 105.9% and 26.3% increases were respectively reported.
As we previously reported, progress in the 3D printing segment has eroded margins and the company is yet to fully reap the expected benefit they hope additive manufacturing will bring.
Stock markets respond to news
In early trading activity, the French company’s share price was marginally down as markets began to price in the news. The current share price of €20, while below Monday’s opening of €20.85 reflects the fact that today’s numbers are not unexpected. A review of share price data for the past month shows that with a few brief exceptions, Groupe Gorgé stock is not especially volatile.
According to a statement in the financial results the company, “remains confident of its strategic positioning.” Groupe Gorgé recently announced development of a metal 3D printing technique and are optimistic that if successfully scaled could offer, “significant advantages compared to the top-performing procedures currently used.”
Merger plans announced
Also plans were announced to merge two divisions, and the Industrial Projects and Services and Protection in Nuclear Environments will now both be under the control of Rodolphe Bassi. At the time of writing the new name for this division has not been announced.
Looking forward, the company are expecting to benefit from attendance at next month’s Formnext event in Frankfurt where they will be exhibiting their sub €100,000 plastic powder laser sintering 3D printer, the Prodways P1000. The 3D printer has a build platform of 300x300x300 mm and the company are promoting is as, “capable of producing high-precision parts for automotive, medical, aerospace or industrial applications.”
Through Prodways, the 3D printing division of Groupe Gorgé, the company will also bring the ProMaker L500 and their material portfolio to the trade show in Frankfurt.
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