AML3D Limited (ASX:AL3) Chair & Managing Directors Address to Shareholders & 2025 AGM Presentation
AML3D Limited (ASX:AL3)
AML3D Limited (ASX: AL3) (“AML3D” or “the Company”) is pleased to provide a copy of the Chairman’s, Managing Director’s and US President’s addresses to be given at AML3D’s Annual General Meeting on 3 November 2025.
CHAIRMAN’S ADDRESS
AML3D’s primary focus during the 2025 financial year remained the on-going execution of the “US Scale-up” strategy. Key to the success of this strategy is the continued delivery of AML3D’s proprietary, industrial scale, metal 3D printing technology to meet strong demand from the US defence sector, in the first instance. To this end, during the 2025 financial year, AML3D opened its fully operational US Technology centre in Stow, Ohio to supply ARCEMY® metal 3D printing systems and contract manufacturing services from within the US market.
While the US market is the main driver of AML3D’s growth, we achieved another key milestone in the 2025 financial year by winning our first UK defence contract. This is the first step in rolling out the US playbook in the UK and Europe where we have identified the same strong demand signals that preceded AML3D’s successful entry into the US.
US Expansion
AML3D’s strategy of focusing on US growth has been strongly validated by the receipt, in July 2025, of a Letter of Intent (‘LOI’) from the US Navy. That letter highlights demand across the US Navy Maritime Industrial base for up to 100 additive manufacturing systems and up to 1,600 additively manufactured components by 2030.
In addition, the delivery of an AML3D ARCEMY® X additive manufacturing system to the Tennessee Valley Authority, the first from Stow, opens a new US market beyond defence.
AML3D‘s confidence of further expansion in the US Defence and Utilities sector, and into the Aerospace, Oil & Gas and Marine sectors, can be seen in the decision to invest AU$12 million to double our US manufacturing capacity.
UK and Europe
AML3D’s growth strategy includes using the lessons from our rapid growth in the US to inform entry to the UK and European markets. The signing of our first UK defence contract with BAE Systems in April marks the start of the process of converting the potential within our significant European sales pipeline. We have already developed plans for a AU$5 million European Technology Centre to accelerate European growth. This Centre will be strategically located to best meet the emerging European demand profile.
To further accelerate AML3D’s entry into European markets we put in place, in July 2025, a distribution agreement that covers the UK and Europe. That agreement was followed in August with a second, European distribution agreement. AML3D expects to leverage both distribution agreements to secure contract wins across European defence and industrial manufacturing markets.
Australia, AUKUS and R&D
AML3D’s facilities in Adelaide have and continue to provide the capacity needed to meet the strong growth in the US and now in Europe, so much so that Austrade classifies AML3D as one of the largest exporters under AUKUS. In parallel, AML3D completed delivery of test parts and components to the Australian Government’s Defence Science and Technology Group and completed a contract to upgrade an Australian Defence supplier’s equipment to ARCEMY® standard.
AML3D’s Research and Development into the next generation of our metal 3D printing technology is being carried out in Australia. Our R&D work is supported by the South Australian Government, which agreed a funding package to support the ARCEMY® increased deposition rate project. Constantly building on AML3D’s technology advantage is key to securing ARCEMY® system sales and contract manufacturing orders over the medium to longer term.
Board and Governance
AML3D’s stable and experienced Board have the right mix of skills to provide guidance and continuity over the coming years, which are expected to be a period of rapid growth for the company. Our senior management team has deep knowledge and key relationships in the markets where AML3D operates.
As the Company continues to deliver growth we are also, where needed, enhancing our leadership. In our US operations, we were delighted to welcome Frederick Stefany to the Board of AML3D USA Inc. in 2025. Fredrick established and then served as the first Program Manager of the US Navy’s Maritime Industrial Base, set up in 2024 to strengthen and expand the industrial base that builds and maintains the US Navy’s surface ships, aircraft carriers, and submarines.
Conclusion
AML3D is well positioned in several high growth defence and industrial manufacturing markets. We have already delivered contracts in the US, the UK and Australia. We have a fully funded, investment program to maximise the US and European opportunities and have capacity in our Australian operations to support additional domestic and international contract wins.
I’m confident that 2026 will be a year when we continue the rapid scale up in the US; build on our initial UK contract to accelerate growth across Europe and progress plans to establish our European Technology Centre. In Australia we will continue to be a key contributor to the AUKUS program, while targeting additional defence and industrial contracts and continuing to build our technology advantage.
Finally, on behalf of the Board I thank our management team and our staff for their commitment to delivering our growth strategy. I also thank our shareholders for their continuing support and would now like to hand over to Sean, to give you a greater insight into our growth drivers.
MANAGING DIRECTOR’S AND US PRESIDENT’S ADDRESS
Thank you, Noel, and good morning, ladies and gentlemen.
It is a very exciting time to be leading AML3D. The opening of our US technology centre in Stow during the 2025 financial year means we are extremely well positioned to support the huge growth potential in the US market. The receipt of the Letter of Intent for the US Navy outlines a baseline opportunity for the supply of metal 3D printing systems and components of between US$150 to 200 million. In addition, at opening, Stow was working on a US utilities sector contract, which not only involved the successful delivery of an ARCEMY X system but also showed the US opportunity extends beyond the Defence sector.
In the US Defence sector, we continue to win contracts, which I will ask Pete Goumas, the President of AML3D USA to give you more details on this shortly. While our core suite of ACREMY systems are in demand we have also been innovating to respond to customer demands. We have delivered an extra-large custom ARCEMY systems and will be delivering an ARCEMY system mounted in a shipping container as a prototype of a portable system to our key customer Austal USA.
The strength of the demand for AML3D’s solutions has created the opportunity to invest AU$12 million to double our manufacturing capacity in the US over time. Having an expanded US manufacturing base gives AML3D significant competitive advantages. We can be even more responsive to US defence and industrial customers. We can continue to expand into the US utilities and additional market sectors of Aerospace, Marine, Energy and Oil & Gas. We can manage the impact from US import tariffs. We will have more capacity in our Australian operations for R&D and to meet the strong emerging demand in the UK, European and Australian markets.
UK and European Expansion
We signed our first contract with UK Defence supplier BAE Systems in April 2025, which gives us confidence we can roll out our US scale up playbook to meet demand in European markets. We have also signed a UK and Europe distribution deal with ARC Additive in Scotland and a second European distribution deal with DMFG in Germany.
We are still in the early stages of penetrating the UK and European markets but our confidence in the scale of this opportunity means we have committed AU$5 million to setting up a European Technology Centre. While we progress the plans for our European base, we will use additional capacity in our Australian operations to meet European demand while continuing to deliver for Australian customers. In the past financial year that included delivery of marine test parts and a 6-part aerospace nozzle assembly for the Australian Government Defence Science and Technology Group and the upgrade of Australian Defence and industry supplier, Century Engineering’s, robotic welding system to ARCEMY® standards.
Financial Performance
In the 2025 financial year we recorded revenue growth up 1% to $7.39 million. Gross profit increase 9% to a little over $5 million with gross profit margins up 5% to 68%. It is particularly pleasing to see customer receipts increase 8% to $8.67 million with 9 million of orders rolling over to the 2026 financial year.
Net losses were up 78% to $7.40 million, which includes a $3.9 million increase in overheads linked to expanding our US operations and team and the opening of the US Technology Centre which contributed $2.06 million to the loss. Net cash used in operating activities was $2.89 million, with a significant investment in capital additions of $2.09m across R&D and US expansion.
Cash on hand at the 2025 financial year end was $30.40 million following a strongly supported institutional placement that raised $28.03 million, net of costs, in December 2024. This balance sheet strength creates the fire power for our planned investments to double US manufacturing and expand our global manufacturing network to include a European technology centre alongside our existing Australian and US facilities.
I would now like to ask Pete Goumas, the President of AML3D USA, to talk about the successes and opportunities to accelerate growth in our most important market, the US.
US Expansion
Thank you, Sean. I’m delighted to provide an update on the progress in the US during the 2025 financial year. There were several high-profile US contract and strategic milestone wins during 2025 and also a lot of advocacy work to drive rapid growth into 2026 and beyond.
Pre-eminent amongst the wins was the official opening of the US Technology Centre in Stow, Ohio with the strategic rationale for it underpinned by the Letter of Intent from the US Navy outlining the huge scale of the US defence opportunity we are accessing. In addition, the US Navy committed to providing regular demand updates to help inform our investment decisions to double our US manufacturing capability.
As soon as we brought Stow online it was working on the successful delivery of a circa AU$2.27 million ARCEMY X System for the Tennessee Valley Authority or TVA, the largest publicly owned US utility, to be used for repair and maintenance in its power generation division. The TVA ARCEMY contract is aligned with our strategic road map to drive additional growth in the US by accessing non-defence markets. It validates the decision to not only establish the Stow technology Hub but also to double manufacturing capacity to ensure we can service non-defence and defence customers alike.
For defence customers we completed contracts for Austal USA to deliver the largest ever custom made ARCEMY® system and a portable small ARCEMY system for deployment at the US Navy’s additive manufacturing Centre of Excellence in Danville, Virginia. The portable small ARCEMY system is pre-mounted in a shipping container which reduces the field service time to install the system from 2-3 weeks to 2-3 days. This makes it an ideal prototype for a system that could be used by multiple branches of the US military for forward deployment to provide point of need additive manufacturing.
For US Navy submarine supplier, Cogitic Corporation, we completed a large ARCEMY® X system contract, while for Laser Welding Solutions, a US Navy component supplier, we complete a small ACREMY installation. We have also continued our Nickel Aluminium Bronze and Copper Nickel materials qualification programs to support the US Navy’s Submarine Industrial Base.
Alongside the important work of successfully delivering our metal 3D printing solutions a significant advocacy program has been underway. Through engagement with key decision makers across Government, industry and defence we have tripled our addressable defence market in the US beyond the US Navy Submarine Industrial Base to the entire US Navy Maritime Industrial Base or MIB. The MIB include Submarines but also the US Navy surface fleet, aircraft carriers, munitions and missiles.
AML3D’s potential to accelerate contract wins in support of the MIB is further enhance by the signing, in September, of a Manufacturing License Agreement, or MLA, which strengthens our relationship with US Navy procurement partner Blue Forge Alliance. The MLA enables the exchange of technical assistance and data that is expected to facilitate an expansion of AML3D’s activities to support the US Navy.
Strengthening the US team
As our advocacy work creates opportunities to expand into the US Navy Maritime Industrial Base we were delighted to welcome Frederick J. Stefany to the Board of AML3D USA Inc. Jay established and then served as the first Program Manager of the US Navy’s Maritime Industrial Base in 2024. He also brings over four decades of experience leading the US Navy and Marine Corp’s research, development, acquisition, and sustainment programs across shipbuilding, aviation, weapons and support. We could not ask for a director with a better mix of skills and relationships.
I am excited and feel privileged to lead AML3D in the US. We have the opportunity to access phenomenal growth. We have built exceptional leadership and operational teams and put in place the agreements and developed the relationships to access this growth opportunity. We have a modern, state of the art technology centre in Ohio that insulates us to a great extent from any US import tariff impacts. We have plans to double our US manufacturing capacity to keep pace with our expected growth. And we have ARCEMY, a market leading additive manufacturing technology that solves for our customers’ needs across the US Defence and industrial manufacturing sectors.
As I hand back to Sean, I would like to thank him for playing a pivotal role in our advocacy work on the ground in the US and advancing the ‘US-Scale Up’ strategy that is unlocking the growth potential in the US market.
Outlook
Thank you, Pete. It is great to see the US Technology Centre up and running and delivering for customers from minute one. The entry into the US utilities sector at a time when we have successfully trebled our addressable US defence markets demonstrates the continuing, huge growth potential of the US business.
Winning our first defence contract in the UK is the first step in rolling out our US playbook in Europe. It is early days, but we are seeing the same demand signals in Europe as we saw when entering the US market. We are applying the lesson learned in the US and have already set aside AU$5million to set up a European Technology Centre and have put in place distribution agreements.
In Australia we are recognised as one of the largest exporters under AUKUS, have well established relationships with defence and industry partners and are well positioned to access growth as defence spending ramps up. Australia is also developing the next generation of high speed ARCEMY systems that are critical to AML3D remaining at the leading edge of metal 3D printing technology and being a preferred solution for our customers.
Having a global network spanning the US, Europe and Australia, with exposure to high growth opportunities in both defence and industrial manufacturing gives me confidence that AML3D will deliver another year of high growth in 2026. That confidence is reinforced by the knowledge we enter the 2026 financial year with AU$9 million or orders in hand.
I will now hand it back to Noel to commence the formal part of the AGM.
---ENDS---
To read Chair & Managing Directors Address to Shareholders, please click here
To view 2025 AGM Presentation, please click here
About us:
AML3D Limited, a publicly listed technology company founded in 2014, utilises new technologies to pioneer and lead metal additive manufacturing globally. Disrupting the traditional manufacturing space, AML3D has developed and patented a Wire Additive Manufacturing (WAM®) process that metal 3D prints commercial, large-scale parts for Aerospace, Defence, Maritime, Manufacturing, Mining and Oil & Gas. AML3D provides parts contract manufacturing, from its Technology Centre in Adelaide Australia, and is the OEM of ARCEMY®, an industrial metal 3D printing system that combines IIoT and Industry 4.0 to enable manufacturers to become globally competitive.
To learn more, please visit: www.aml3d.com
Contact details:
For more information, please contact:
Sean Ebert
Managing Director
AML3D Limited
+61 8 8258 2658
[email protected]
Hamish McEwin
Chief Financial Officer
AML3D Limited
+61 8 8258 2658
[email protected]
Investor Relations
The Capital Network
Julia Maguire
+61 2 7257 7338
[email protected]