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SLM-SOLUTIONS ADJUSTS GUIDANCE DUE, LOWER THAN EXPECTED SALES IN H1-2019

SLM SOLUTIONS ADJUSTS GUIDANCE DUE TO LOWER THAN EXPECTED SALES IN H1 2019 - JULY 29TH 2019

SLM SOLUTIONS: ADJUSTMENT OF GUIDANCE FOR FISCAL YEAR 2019

The text of the SLM news release on their Investor Relations page:

Luebeck, July 26, 2019 – Today SLM Solutions Group AG announced that the company will not meet the revenue and the EBITDA guidance communicated by the previous management team earlier in this year and will not set a new revenue and EBITDA guidance for the year. The weak business performance is driven by lower than expected orders in the first half of the year. In particular, order expectations from the Chinese frame agreement did not materialize as the previous management had anticipated. Despite a strengthening market environment for additive manufacturing machines, North America sales continued to underperform.

Under the leadership of the new CEO Meddah Hadjar a thorough assessment of the Company and the required steps needed to improve the Company’s growth and profitability profile is underway.

Initial conclusions of the assessment on the Company’s strategy and operations will be presented on SLM’s Q2 earnings call on 8 August 2019, with an in-depth presentation of the Company’s long term outlook and its strategy and organizational set up to achieve these to follow in Q4 2019 in a dedicated investor event.

From the 3dprintingindustry.com article:

First drop in sales in seven years

Last month, at the company’s AGM, a presentation showed SLM Solutions has been experiencing the first drop in sales since 2011. Between 2017 and 2018, sales for the company dropped 13% from €82.5 million to €71.7 million.

https://www.slm-solutions.com/fileadmin/user_upload/Presentation_General_Meeting_2019.pdf










Hard to get happy about that.