Voxeljet AG (NYSE:VJET) Q2 2019 Earnings Conference Call - Final Transcript
Aug 16, 2019 • 08:30 am ET
Greetings, and welcome to the voxeljet AG Second Quarter 2019 Financial Results Call. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Mr. Johannes Pesch, Director, Investor Relations and Business Development for voxeljet. Thank you. You may begin.
Thank you, operator, and good morning, everyone. With me today are Dr. Ingo Ederer, voxeljet's Chief Executive Officer; and Rudi Franz, voxeljet's Chief Financial Officer. Yesterday, after the market closed, voxeljet issued a press release, announcing its second quarter financial results for the period ended June 30, 2019. The release as well as the accompanying presentation for this conference call is available in the Investor Relations section of the Company's website at voxeljet.com. During our call, we may make certain forward-looking statements about the Company's performance. Such forward-looking statements are not guarantees of future performance and, therefore, one should not place undue reliance upon them. Forward-looking statements are also subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed. For additional information concerning factors that could cause actual results to differ from those discussed in our forward-looking statements, you should refer to the cautionary statements contained in our press release as well as the risk factors contained in the Company's filings with the Securities and Exchange Commission.
With that, I would now like to turn the call over to Ingo, Chief Executive Officer of voxeljet.
Thank you, Johannes, and good morning, everyone. Thanks for joining us today for our second quarter call. We are happy with the results for the first half of 2019. Revenue from our Systems segment for the first six months this year is up 40% compared to the same period last year. The first two units of VJET X are installed at the leading German car maker's plant, and we are starting printing. As you know, the frame contract for this consists of five units, and we expect to receive the order for the next three [Phonetic] VJET X units in the coming weeks.
Let's turn to Slide 4. This year we are celebrating our 20th anniversary and are looking back at the multitude of exciting projects. Remember, we basically started in a garage in Munich, and fast forward today, products made with our technology are flying in space. And we are implementing with VJET X, an additive manufacturing solution, for true mass production. In our indirect parts segment, we addressed the need of our customers for production-ready solutions and start to commercialize high-performance products like VJET X and HSS.
In our direct parts segment, we have successfully entered the market for direct and functional parts with High Speed Sintering. We have built on the knowledge we have accumulated in the development of VJET X and HSS to accelerate the commercialization of large direct parts production platform. The HSS production solution combined with new materials should be a game changing combination. We will present the first version of this