Felix Ziegler's questions to Nano Dimension (NNDM) leadership • Q3 2024
Question
Felix Ziegler from Felix Investments challenged the M&A rationale, questioning the integration of past acquisitions and the logic of buying cash-burning companies like Desktop Metal and Markforged based on a low sales multiple.
Answer
Executive Yoav Stern strongly refuted the premise, stating that past acquisitions saw 29% organic growth and improved margins. He defended the current strategy as a classic M&A approach: acquiring valuable technology and customer bases at a low price and creating value through synergies, management changes, and a focus on profitability. He asserted that unprofitable business lines from the acquired companies would be discontinued to improve the combined entity's gross margin, creating significant shareholder value.