Prodways: management reshuffle, share price rises

(CercleFinance.com) - Prodways, a specialist in 3D printing, announced on Friday that it had reshuffled its general management team, news which was rather favorably received on the Paris stock exchange.


The company's Board of Directors said this morning that it had terminated Michaël Ohana's mandate as CEO, replacing him with Laurent Cardin, the current CFO.

With this change in management, the Board of Directors says it wishes to initiate a 'strategic reflection' with a view to giving the group a new direction.

This decision comes against a general backdrop of difficulties in the 3D printing market, whose evolution in recent years is calling into question the prospects for large-scale deployment of this technology in the industrial sector, explains Prodways.

The group - which is seeking to diversify its activities (3D software, 3D printers, 3D materials, 3D parts manufacturing, medical applications) - nevertheless reaffirms its objective of improving its current operating margin (Ebitda) in 2024 and generating very largely positive free cash flow.

Prodways - whose share price has plummeted by 89% in two years - believes that this 'very disappointing' performance does not fully reflect the value of each of the group's activities.

The mission of the new CEO will therefore be to pursue the development of each activity, to ensure its long-term viability under the best possible conditions, and to propose new strategic options aimed at increasing the share's value.

Following these announcements, the share price rose by 0.7% on Friday morning, after having gained more than 4% at the start of the session.

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