9. Restructuring

voxeljet AG

At the end of 2019, a provision of kEUR 453 was made to cover the costs associated with a restructuring program announced by Management in November 2019 for the German operation. This program included the reduction of headcount mainly in production in order to adjust the capacity but also in further functions. Estimated restructuring costs mainly include employee termination benefits based on a voluntary program which has started on February 17, 2020. This program has been agreed with the workers’ council in a company agreement. On April 16, 2020, the voluntary program expired with the result that the desired reduction in headcount has been completely achieved through the voluntary program, and therefore the cost saving targets have been fully implemented. The provision for the restructuring has been completely used within 2020.


		Twelve months ended December 31, 2019
Line items in statement of comprehensive loss / Components of restructuring charges		(€ in thousands)

Cost of sales		302
Employee termination costs		302

Selling expenses		77
Employee termination costs		77

Administrative expenses		45
Employee termination costs		45

Research and development expenses		29
Employee termination costs		29

Impact of restructuring		453

voxeljet UK

In 2019, the Company decided to consolidate 3D printing to serve all customers in Europe from the German service center and restructure the voxeljet UK entity. The restructuring included reduction in headcount and disposal of certain assets. Consequently the lease of the Milton Keynes facility has been early-terminated and ended at the end of May 2020.


		Twelve months ended December 31, 2019
Line items in statement of comprehensive loss / Components of restructuring charges		(€ in thousands)

Cost of sales		312
Loss on disposal of assets		226
Employee termination costs		67
Impairment of Inventories		19

Selling expenses		42
Loss on disposal of assets		20
Employee termination costs		16
Write-off right-of-use asset		6

Administrative expenses		274
Loss on disposal of assets		81
Employee termination costs		35
Lease maintenance costs		100
Settlement of agreements		14
Legal Consulting		25
Write-off right-of-use asset		19

Impact of restructuring		628

After the restructuring launched in 2019, management initiated in December 2020 the liquidation process of voxeljet UK. Following cost-benefit considerations and taking into account the subsidiary's main purpose -particularly attracting customers attention to voxeljet’s products- management came to the conclusion, that it is not necessary to maintain a legal entity in the UK. The remaining employees, solely sales representatives, have been transferred to voxeljet AG and will continue to focus on selling 3D printed parts and 3D printers in the United Kingdom and Northern Europe. The wind-up will help to reduce overall costs, especially within the function administration, but not at all adversely affect the activities of the UK colleagues.