Nano Dimension (NNDM)

Business description

Nano Dimension develops advanced 3D printed electronics systems and advanced additive manufacturing. Its initial products include a 3D printer for rapid prototyping of multi-layer PCBs and associated nanotechnology conductive and dielectric inks.

Stock data

Market cap.NIS154.8m
Last closeNIS2.50
High / Low (52 weeks)NIS5.3 / NIS2.1
Stock market listingUS, Tel Aviv Stock Exchange
Forecast net cash (US$m)7.7
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual10.1(34.5)(46.1)
Relative *5.6(37.7)(51.2)

* % Relative to local index

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Company news

Nano Dimension Earns International Workplace Health and Safety Certification

Tue, 16 Jan 2018 18:44:57 GMT

Nano Dimension to Present DragonFly 2020 Pro 3D Printer at Exclusive Abundance ...

Thu, 18 Jan 2018 21:56:15 GMT

Leading Research Institute in Hong Kong Purchases Nano Dimension DragonFly Pro ...

Wed, 17 Jan 2018 17:26:15 GMT

Nano Dimension develops Novel Copper Nanoparticles that are resistant to oxidation

Tue, 06 Jun 2017 14:13:12 GMT

Nano Dimension delivers DragonFly 2020 3D Printer to sixth Beta company in 2016

Wed, 21 Dec 2016 12:24:04 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2015A 0.0 (2.4) (2.1) (39.49) N/A N/A
2016A 0.0 (6.5) (6.8) (83.30) N/A N/A
2017E 1.2 (14.6) (15.7) (140.69) N/A N/A
2018E 9.5 (9.6) (11.0) (75.03) N/A N/A

Last updated on 05/12/2017

Investment summary

Nano Dimension generated US$143k revenues during Q317 (US$150k in Q217, US$0 in Q316) from leasing DragonFly printers to customers participating in the beta testing programme. Operating losses were lower than in Q217 (US$4.2m vs US4.8m), as both R&D and sales and administrative expenses reduced slightly. Cash fell by US$4.5m during the quarter to US$12.0m (there is no debt). We note that while Nano Dimension is in active discussions with around 100 potential customers, the sales cycle is proving much longer than management originally anticipated, so we have revised our estimates downwards to reflect a more cautious commercial roll-out and cut our indicative valuation from US$7.04/ADS to US$6.39/ADS.

Last updated on 13/12/2017

Industry outlook

Global manufacturing services giant Jabil and the University of Technology, Sydney, will be the first commercial customers. Nano Dimension has prepared the infrastructure for supporting commercial roll-out later this quarter by opening its nanoparticle ink production facility in October and expanding its distribution network in Australia, Canada, France and Italy.

Last updated on 13/12/2017

Key management

Itschak Shrem, Chairman
Amit Dror, CEO
Yael Sandler, CFO

Company address

2 Ilan Ramon St.
Ness-Ziona Science Park
Ness Ziona
7403635
Israel
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