Tekna’s development in sales and order intake in H1 was soft overall. This is however a result of a slowdown in the additive manufacturing industry as a whole, rather than lost market share. In fact, the metal additive manufacturing industry grew by a ~20% CAGR in 2020-23, whereas Tekna’s powder revenues grew by a ~26% CAGR. Although future industry projections carry much uncertainty, most third-party analysts foresee a return to >20% CAGR from 2025. We reiterate our Buy-recommendation as we bel ....
