Prodways IPO announced as 3D printing investment activity increases in 2017

Groupe Gorgé (EPA:GOE) will launch their 3D printing division, the Prodways Group via an initial public offering (IPO) later this year. The IPO will see Groupe Gorgé remain as the largest shareholder while funds are raised to increase the capital of Prodways.

Subject to market conditions, Prodways will seek a listing on the Euronext Paris stock exchange. The news follows ongoing investment activity in the 3D printing industry for the first quarter of 2017 and the progression of national strategies focused on additive manufacturing.

Prodways ProMaker L5000. Photo by Michael Petch.
Prodways ProMaker L5000. Photo by Michael Petch.

Analysis of 3D printing revenue at Prodways

According to a press release by Groupe Gorgé, “Prodways Group is the sole European company present at every stage of the 3D printing value chain (machines, materials, parts and services).” In Groupe Gorgé’s most recent financial report total revenue from 3D printing was €25.2 million for 2016 and consolidated revenue across the group €281.2.

Revenue from 3D printing activity can be further analysed between the Systems and Products divisions. Systems revenue relates to materials and machines and was €13.1 million for 2016. Revenue from the Products division comprises parts on request and industry applications. In 2016 total Products revenue at Prodways was €12.1 million.

Both divisions derive the bulk of revenue from exports, with 90% of Systems revenue and 58% of Products revenue coming from non-domestic sales. According to Raphael Gorgé, CEO of Groupe Gorgé, Prodways was originally established to develop “a range of DLP machines using MOVINGLight technology.”

Expanding sales and strategic partnerships

Prodways has expanded via sales growth, strategic partnerships and a number of acquisitions since Groupe Gorgé began their venture into the 3D printing industry. In the company’s most recent report to investors, the development of  “new proprietary technologies for metal 3D printing machines” was also announced.

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