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voxeljet’s Positive Outlook Starts to Come to Fruition in Q2 Financial Report

by • August 11, 2016 • No Comments

Logo_voxeljet-1024x289Earlier this year, the Friedburg, Germany-based industrial 3D printing company voxeljet AG leapt to defend their lackluster initially quarter financial report, sticking with a positive outappear despite a weak begin to the year. The company has unquestionably been working expansively to get an upswing in their ractuallyue, donateing their VX4000 industrial 3D printing device to North America back in April, while a new partnership with automation company Art Abastecedora Industrial S. de R.L. de C.V. (ART) can assist them integrate into the car market in Mexico. Ultimately, despite their initially quarter ractuallyue minimize, which alone is adequate to manufacture any shareholder a skeptic, voxeljet seemed to be correct when they said which advantageous days were yet to come.

The 2016 2nd quarter financial report paints a much additional successful picture than the initially, with the word “increase” suddenly popping up additional than its antithetical “minimize”. For beginers, voxeljet saw their total ractuallyue increase a respectable 14.8% to kEUR 6,296 of the kEUR 5,484 posted during the same period last year. This is actually additional astounding in light of their initially quarter ractuallyue, which minimized to kEUR 4,870 earlier this year.

Most of this ractuallyue increase came of their Systems segment, which focuses on the development, production and sale of their large-format 3D printing devices. This sector increased a whopping 97.4% to kEUR 3,815 in the 2016 2nd quarter of kEUR 1,933 in last year’s 2nd quarter. According to the company’s financial report, they sold a total of six 3D printing devices during the quarter, double the amount of last year’s Q2. All together, the segment created up 60.6% of their total ractuallyue this quarter, a primary reason for the upswing across the board.

 Dr. Ingo Ederer, CEO of voxeljet

Dr. Ingo Ederer, CEO of voxeljet

“We are in the middle of executing on our Vision 2020 and we are building great progress. Our subsidiaries perform well and we begin to take advantage of our global reach, alyet the ramp up is delayed. Our new production facility and research center at our headquarters in Friedberg are beginning to take shape. When it comes to general business, we go on to operate in a rigorous economic environment with lower than anticipated customer adoption rates. With cash and short-term financial assets of around kEUR 28,000 at the end of the quarter, we are well made to execute on our Vision 2020 and to donate long-term value to our shareholders,” said Dr. Ingo Ederer, CEO of voxeljet.

Ractuallyue is not the just thing which saw a proportionate increase this quarter; voxeljet in addition posted a gross margin of 36.6% compared to 33.5% during the prior year. On the other hand their Systems ractuallyues assisted carry them back upwards, their Services segment ractuallyue minimized 30.1% in to kEUR 2,481 of kEUR 3,551, yet the company attributes this to the lower ractuallyue contribution of their subsidiary voxeljet UK Ltd. As far as gross profit goes, the numbers seem to tell a much like story to their ractuallyue.

Their Systems segment showed a gross profit increase to kEUR 1,112 of kEUR 632 in the 2nd quarter of 2015, alyet gross profit margin minimized due to their new system implemented into three of the six printing devices sold this quarter. Their Services segment go ond to hold them back, with a gross profit minimize of kEUR 1,191 of kEUR 1,202. Interestingly adequate, the gross profit margin for this segment increased 48% in the 2nd quarter, as their entities in Germany and North America assisted to offset the lackluster results of voxeljet UK.

The voxeljet US facility in Canton, MI

The voxeljet US facility in Canton, MI

In addition, voxeljet in addition showed a minimize in their selling expenses (kEUR 1,265 for the 2nd quarter of 2016 compared to kEUR 1,743 in 2015), as well as their research and development expenses (kEUR 1,049 in the 2nd quarter of 2016 of kEUR 1,417), which was primarily due to cancelled development activities of their UK-based entity. Administrative expenses took a slight uptick to kEUR 1,106 compared to the kEUR 1,097 of last year’s results.

This quarter was in addition the initially to include their newly consolidated accounts with their Chinese subsidiary in the city of Suzhou. All in all, these 2nd quarter numbers appear much advantageous for voxeljet and their shareholders, who must have been anxious upon seeing the results of the initially quarter. But, despite the increase in ractuallyue, voxeljet appears to be hedging their bits a bit for the next, as they lowered their full year 2016 guidance of ractuallyues of between kEUR 28,000 and kEUR 30,000 to kEUR 24,000 and kEUR 25,000. Despite this, it’s complex to deny which the German 3D printing company didn’t manufacture progress this quarter, so we will chalk this Q2 up as a win for voxeljet AG. Discuss additional over in the voxeljet Q2 2016 forum at 3DPB.com.

[Source: voxeljet AG via Business Wire]