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Nano Dimension (NASDAQ: NNDM)

Last close As at 20/11/2024

USD2.13

▲ 0.04 (1.91%)

Market capitalisation

USD472m

Nano Dimension offers equipment for the additive manufacture of high-performance electronic devices, complex 3D ceramic and metal objects. It also offers miniature parts requiring a resolution of one micron and complementary equipment for automated assembly of electronic devices and PCBs.

The industry is ripe for consolidation as many peers have limited cash runways. There was a high level of bid activity in 2023 that did not culminate in any completed deals, but we expect further M&A activity this year as industry participants shift their focus from growth to profitability.

Latest Insights

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TMT | Update

Nano Dimension — Scaling up

TMT | Update

Nano Dimension — Creating a leader in additive manufacturing

TMT | Flash note

Nano Dimension — Agreement to acquire Desktop Metal

TMT | Update

Nano Dimension — Material reduction in cash burn
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Sector

TMT

Equity Analyst

Katherine Thompson

Key Management

  • Yoav Stern

    CEO

  • Yael Sandler

    CFO

  • Yoav Nissan-Cohen

    Chairman

  • Zivi Nedivi

    President

Balance Sheet

Forecast net debt (US$m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (7.4) (2.7) (13.8)
Relative (8.2) (8.0) (33.7)
52 week high/low US$3.0/US$2.0

Financials

Nano Dimension has agreed to acquire Markforged, a specialist in additive manufacturing (AM) for metal and advanced composites, for cash of $115m. The deal requires regulatory and Markforged shareholder approval, which, if granted, should allow the deal to close by the end of Q125. The combination of Nano Dimension, Desktop Metal (acquisition process underway) and Markforged had pro forma revenue of $340m in FY23. This deal further broadens the product portfolio with the addition of a new printing technology, strengthens Nano Dimension’s position in metal AM and provides greater scale, which should support the path to profitability for the combined group

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 43.6 (91.3) (96.4) (37.05) N/A N/A
2023A 56.3 (99.9) (59.0) (23.35) N/A N/A
2024E N/A N/A N/A N/A N/A N/A
2025E N/A N/A N/A N/A N/A N/A

Research

Update

TMT

Nano Dimension — Creating a leader in additive manufacturing

Flash note

TMT

Nano Dimension — Agreement to acquire Desktop Metal

TMT

Update

Nano Dimension — Scaling up
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Thematics

thematic

TMT

MediaWatch – One step forward, two steps back

thematic

TMT

MediaWatch – Encouragements and frustrations

thematic

TMT

MediaWatch – Glimpses of positivity

thematic

TMT

MediaWatch – Rinse and repeat
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