voxeljet AG Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2018

Webcast and Conference Call Details

The Company will host a conference call and webcast to review the results for the fourth quarter and full year ended December 31, 2018 on Friday, March 29, 2019 at 8:30 a.m. Eastern Time. Participants from voxeljet will include its Chief Executive Officer, Dr. Ingo Ederer, and its Chief Financial Officer, Rudolf Franz, who will provide a general business update and respond to investor questions.

Interested parties may access the live audio broadcast by dialing 1-877-705-6003 in the United States/Canada, or 1-201-493-6725 for international, Conference Title “voxeljet AG Fourth Quarter and Full Year 2018 Financial Results Conference Call.” Investors are requested to access the call at least five minutes before the scheduled start time in order to complete a brief registration. An audio replay will be available approximately two hours after the completion of the call at 1-844-512-2921 or 1-412-317-6671, Replay Conference ID number 13688141. The recording will be available for replay through April 5, 2019.

A live webcast of the call will also be available on the investor relations section of the Company’s website. Please go to the website https://event.webcasts.com/starthere.jsp?ei=1234697&tp_key=da79266d3c at least fifteen minutes prior to the start of the call to register, download and install any necessary audio software. A replay will also be available as a webcast on the investor relations section of the Company’s website.

Exchange rate

This press release contains translations of certain U.S. dollar amounts into euros at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from U.S. dollars to euros in this press release were made at a rate of USD 1.1450 to EUR 1.00, the noon buying rate of the Federal Reserve Bank of New York for the euro on December 31, 2018.

About voxeljet

voxeljet is a leading provider of high-speed, large-format 3D printers and on-demand parts services to industrial and commercial customers. The Company’s 3D printers employ a powder binding, additive manufacturing technology to produce parts using various material sets, which consist of particulate materials and proprietary chemical binding agents. The Company provides its 3D printers and on-demand parts services to industrial and commercial customers serving the automotive, aerospace, film and entertainment, art and architecture, engineering and consumer product end markets. For more information, visit http://www.voxeljet.de/en/.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements concerning our business, operations and financial performance. Any statements that are not of historical facts may be deemed to be forward-looking statements. You can identify these forward-looking statements by words such as “believes,” “estimates,” “anticipates,” “projects”, “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” “aims,” or other similar expressions that convey uncertainty of future events or outcomes. Forward-looking statements include statements regarding our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations concerning, among other things, our results of operations, financial condition, business outlook, the industry in which we operate and the trends that may affect the industry or us. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance. All of our forward-looking statements are subject to known and unknown risks, uncertainties and other factors that are in some cases beyond our control and that may cause our actual results to differ materially from our expectations, including those risks identified under the caption “Risk Factors” in the Company’s Annual Report on Form 20-F and in other reports the Company files with the U.S. Securities and Exchange Commission, as well as the risk that our revenues may fall short of the guidance we have provided in this press release. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements for any reason after the date of this press release whether as a result of new information, future events or otherwise.

         
voxeljet AG
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
 
Year Ended December 31,
2018 2017 (1) (2)
(€ in thousands)
Current assets 37,936 37,494
Cash and cash equivalents 7,402 7,569
Financial assets 12,905 14,044
Trade receivables 6,030 5,093
Inventories 10,064 9,259
Income tax receivables 13 3
Other assets 1,522 1,526
 
Non-current assets 31,416 29,508
Financial assets 2,234 357
Intangible assets 1,420 1,111
Property, plant and equipment 27,675 27,949
Investments in joint venture 33 39
Other assets 54 52
 
Total assets 69,352 67,002
 
 
Year Ended December 31,
2018 2017 (1) (2)
(€ in thousands)
Current liabilities 6,302 6,576
Deferred income -- 271
Trade payables 2,945 3,059
Contract liabilities 817 --
Financial liabilities 850 1,162
Other liabilities and provisions 1,690 2,084
 
Non-current liabilities 16,575 16,537
Deferred income -- 18
Deferred tax liabilities 76 66
Financial liabilities 16,321 16,413
Other liabilities and provisions 178 40
 
Equity 46,475 43,889
Subscribed capital 4,836 3,720
Capital reserves 86,803 76,227
Accumulated deficit (46,400) (37,509)
Accumulated other comprehensive income 1,201 1,380
Equity attributable to the owners of the company 46,440 43,818
Non-controlling interests 35 71
 
Total equity and liabilities 69,352 67,002
 
(1) Comparative figures for the year ended December 31, 2017 were restated for immaterial errors. For further information, see Form 20-F filed with the SEC on March 28, 2019, Part III, Item 18. Financial Statements, Note 6 “Correction of errors”
 

(2) voxeljet AG has initially applied IFRS 15 and IFRS 9 as of January 1, 2018. Under the transition methods chosen, comparative information has not been restated.

 
                 
voxeljet AG
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
 
Quarter Ended December 31, (unaudited)     Year Ended December 31,
2018 2017 (1) (2) 2018 2017 (1) (2)
(€ in thousands, except share and share data)
Revenues 8,574 6,108 26,009 23,178
Cost of sales (5,723) (3,504) (16,864) (13,853)
Gross profit 2,851 2,604 9,145 9,325
Selling expenses (1,948) (2,074) (7,332) (6,474)
Administrative expenses (1,469) (1,427) (5,587) (5,129)
Research and development expenses (1,563) (1,574) (6,334) (5,528)
Other operating expenses (139) (239) (751) (1,844)
Other operating income 261 235 1,297 1,001
Operating loss (2,007) (2,475) (9,562) (8,649)
Finance expense (897) (100) (1,143) (190)
Finance income 2,608 353 1,952 365
Financial result 1,711 253 809 175
Loss before income taxes (296) (2,222) (8,753) (8,474)
Income tax expense (4) (80) (11) (80)
Net loss (300) (2,222) (8,764) (8,554)
Other comprehensive income (loss) (70) 108 (179) 505
Total comprehensive loss (370) (2,114) (8,943) (8,049)
 
Loss attributable to:
Owner of the Company (289) (2,300) (8,728) (8,538)
Non-controlling interests (11) (2) (36) (16)
(300) (2,460) (8,764) (8,554)
 
Total comprehensive loss attributable to:
Owner of the Company (359) (2,192) (8,907) (8,033)
Non-controlling interests (11) (2) (36) (16)
(370) (2,194) (8,943) (8,049)
 
Weighted average number of ordinary shares outstanding 4,595,348 3,720,000 3,940,636 3,720,000
Loss per share - basic/ diluted (EUR) (0.063) (0.62) (2.21) (2.30)
 
(1) Comparative figures for the year ended December 31, 2017 were restated for immaterial errors. For further information, see Form 20-F filed with the SEC on March 28, 2019, Part III, Item 18. Financial Statements, Note 6 “Correction of errors”
 
(2) voxeljet AG has initially applied IFRS 15 and IFRS 9 as of January 1, 2018. Under the transition methods chosen, comparative information has not been restated.
 
         
voxeljet AG
CONSOLIDATED STATEMENTS OF CASH FLOWS
 
Year Ended December 31,
2018 2017 (1) (2)
(€ in thousands)
Cash Flow from operating activities
Loss for the period (8,764) (8,554)
Depreciation and amortization 3,506 3,163
Foreign currency exchange differences on loans to subsidiaries (340) 1,056
Share-based compensation expense 604 386
Impairment losses on trade receivables 227 237
Non-cash interest expense on long-term debt 781 17
Change in fair value of derivative equity forward (1,877) (352)
Change in inventory allowance (417) (515)
Other 68 105
 
Change in working capital (1,502) (2,373)
Trade and other receivables, inventories and current assets (1,556) (2,697)
Trade payables (310) 629
Other liabilities and provisions and deferred income 375 (310)
Income tax payable/receivables (11) 5
Total (7,714) (6,830)
 
Cash Flow from investing activities
 
Payments to acquire property, plant and equipment and intangible assets (3,812) (3,626)
Proceeds from disposal of financial assets 10,475 4,077
Payments to acquire financial assets (8,690) (5,542)

Other

-- 156
Total (2,027) (4,935)
 
Cash Flow from financing activities
 
Repayment of bank overdrafts and lines of credit (58) (167)
Repayment of sale and leaseback obligation (324) (383)
Repayment of finance lease obligation (37) (51)
Repayment of long-term debt (2,764) (732)
Proceeds from issuance of long-term debt 1,639 12,612
Proceeds from issuance of shares 11,088 --
Total 9,544 11,279
 
Net increase (decrease) in cash and cash equivalents (197) (486)
 
Cash and cash equivalents at beginning of period 7,569 7,849
Changes to cash and equivalents due to foreign exchanges rates 30 206
Cash and cash equivalents at end of period 7,402 7,569
 
Supplemental Cash Flow Information
Interest paid 231 210
Interest received 42 16
Income taxes paid -- --
 
Property, plant and equipment added under finance lease -- 123
 
(1) Comparative figures for the year ended December 31, 2017 were restated for immaterial errors. For further information, see Form 20-F filed with the SEC on March 28, 2019, Part III, Item 18. Financial Statements, Note 6 “Correction of errors”
 
(2) voxeljet AG has initially applied IFRS 15 and IFRS 9 as of January 1, 2018. Under the transition methods chosen, comparative information has not been restated.
 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »



Review Article Be the first to review this article
SolidCAM - Learn More

Featured Video
Editorial
Latest Blog Posts
Joseph LopezPROSTEP INC Blog
by Joseph Lopez
Integration is the Key to Digitization
Upcoming Events
CES - The Global Stage for Innovation at LAS VEGAS NV - Jan 7 - 10, 2020
AHR Expo at Orange County Convention Center West Building Orlando FL - Feb 3 - 5, 2020
Design & Manufacturing at Anaheim Convention Center Anaheim CA - Feb 11 - 13, 2020
METAV 2020 at Düsseldorf Germany - Mar 10 - 13, 2020
Kenesto: 30 day trial
SolidCAM:



Internet Business Systems © 2019 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise