Prodways Group : Profit warning and risk of flowback in the short term. Underperform vs Neutral (target price € 2 vs € 2.9)
>Sales growth cut to ~5% (vs ~10%) and target EBITDA margin of ~8% (vs ~12%) - Prodways yesterday evening slashed its guidance for 2023. Firstly, sales growth is now forecast at around +5% vs around 10% before. Based on a company contact, we understand that the profit warning stems solely from the Systems division, particularly for sales of machines and materials. The group pointed to deferrals/standbys on investments by some clients regarding planned fleets of 3D pri...Prodways Group SA. Prodways Group SA is a France-based company engaged in the industrial machinery sector. The Company focuses its activities on the industrial three-dimensional (3D) printing market and more specifically on ''rapid manufacturing'' 3D printing for industrial series production. The Company designs, manufactures and sells products for various industries, including automotive, dental, molding, medical, jewelry and luxury, aerospace and defense, architectural and design, consumer products and academic and research. It offers its customers multi-technology, multi-application industrial solutions, 3D printing systems and a wide range of composite, hybrid and powder products. In addition, it also develops its own manufacturing for the podiatry (orthopaedic soles) and dentistry (orthodontic pieces and dental trays) markets that is sold directly to healthcare professionals. It operates through Avenao Industrie and Interson-Protac.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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