Financial Performance - Financial result for Q2 2023 shows a net loss of €3,637,000 compared to a net loss of €1,799,000 in Q2 2022, indicating an increase in losses by 102.5%[108] - Total revenues for the first half of 2023 reached €12,852,000, a 13.4% increase from €11,331,000 in the same period of 2022[109] - The company reported a financial result of €(1,098,000) for the first half of 2023, compared to €444,000 in the same period of 2022, indicating a significant decline[108] - Operating loss for H1 2023 was €5,778,000, compared to €3,075,000 in H1 2022, representing an increase in operating losses by 88.5%[108] Revenue Breakdown - Revenue from the EMEA region for H1 2023 was €6,066,000, a slight decrease from €6,271,000 in H1 2022[109] - The Americas region generated €4,657,000 in revenue for H1 2023, up from €3,230,000 in H1 2022, marking a growth of 44.1%[109] Inventory and Assets - As of June 30, 2023, total inventories increased to €12,978 thousand from €11,136 thousand as of December 31, 2022, representing a growth of 16.5%[91] - The net property, plant, and equipment decreased to €16,992 thousand as of June 30, 2023, down from €17,799 thousand as of December 31, 2022, a decline of 4.5%[92] Liabilities and Financial Instruments - Total liabilities as of June 30, 2023, were €24,610 thousand, compared to €22,587 thousand as of December 31, 2022, indicating an increase of 9.0%[96] - The balance of derivative financial instruments increased to €854 thousand as of June 30, 2023, from zero at December 31, 2022, reflecting an addition of €535 thousand[102] - The total amount of other liabilities and provisions as of June 30, 2023, was €2,632 thousand, slightly down from €2,653 thousand as of December 31, 2022[93] Financial Support and Commitments - The Anzu Note issued in January 2023 has a principal amount of USD 3.2 million (€3.0 million) and matures on January 3, 2028, with a 3% annual interest rate[98] - The fair value of the conditional put option related to the Anzu Note was assessed at a likelihood of occurrence of a fundamental change event at 25%[100] - The company recognized a finance expense of €333 thousand for the six months ended June 30, 2023, related to changes in the fair value of financial liabilities[102] - Voxeljet AG issued a letter of support to voxeljet India on July 12, 2023, to provide financial support for at least 12 months, indicating ongoing financial commitments[114] - The company was in compliance with all covenants as of June 30, 2023[105] Profitability Metrics - Gross profit margin for the Systems segment improved to 27.5% in H1 2023 from 22.2% in H1 2022, while the Services segment decreased to 31.7% from 40.7%[108] - Finance expenses decreased to €1,169,000 in H1 2023 from €1,995,000 in H1 2022, reflecting a reduction of 41.5%[108] - The company recognized a gain of €29,000 from the wind-up of DSCS Digital Supply Chain Solutions GmbH, which was finalized on July 10, 2023[121]
voxeljet(VJET) - 2023 Q2 - Quarterly Report