3D Printing Processes

Materialise revenues grow by 11.6% in Q2 2023

Sales totalled nearly €65 million for the quarter, targeting €260 million for the full fiscal year

Stay up to date with everything that is happening in the wonderful world of AM via our LinkedIn community.

Materialise NV (NASDAQ:MTLS), a leading provider of additive manufacturing and medical software and 3D printing services, reported that Q2 2023 revenues grew by 11.6% to €64.8 million compared to €58 million for the second quarter of 2022. Adjusted EBITDA increased 12.2% to €4.7 million compared to €4.2 million for the corresponding 2022 period. Excluding an unexpected adverse arbitration award for €5.2 million, the Adjusted EBITDA margin for the quarter would have been 15.3%.

Executive Chairman Peter Leys commented, “Materialise delivered another strong operational performance in the second quarter of 2023. Our consolidated revenues of €64.8 million rose almost 12% compared to the same period last year, with increased revenues in all three of our segments. Materialise Medical had an especially robust performance with revenue increasing 20%. Our Q2 2023 consolidated Adjusted EBITDA of €4.7 million represents an increase of more than 12% compared to last year’s corresponding period despite the negative impact resulting from an unexpected adverse resolution of an arbitration proceeding in May 2023. Given the strength of our fundamental operations, we are able to maintain the guidance previously provided for both our 2023 revenue and our Adjusted EBITDA.”

In spite of this positive financial performance, the company’s stock is near its record low.

Materialise revenues grow by 11.6% in Q2 2023, totalling nearly €65 million for the quarter and targeting €260 million for the fiscal year
Materialise’s Founder and CEO Wilfried Vancraen.

Revenue from the Materialise Software segment increased 3.6% to €11 million for the second quarter of 2023 from €10.6 million for the same quarter last year. Segment EBITDA increased to €2 million from €821,000 while the segment EBITDA margin was 17.9% compared to 7.7% for the corresponding prior-year period.

Revenue from Materialise’s Medical segment increased 19.6% to €25 million for the second quarter of 2023 compared to €20.1 million for the same period in 2022. Segment EBITDA amounted to €2.7 million for the second quarter of 2023 compared to €4.5 million while the segment EBITDA margin was 10.8% compared to 21.5% for the second quarter of 2022. The Medical segment EBITDA for the second quarter of 2023 includes the negative effect from an arbitration award granted against us in a previously disclosed indemnification dispute with Zimmer Biomet related to certain joint replacement devices. Excluding the negative impact, the Adjusted EBITDA margin of the Medical segment for the quarter would have been 31.6%.

Revenue from the Materialise Manufacturing segment increased 8.5% to €29 million for the second quarter of 2023 from €26.6 million for the second quarter of 2022. Segment EBITDA amounted to €2.7 million compared to €1.6 million for the same period last year, while the segment EBITDA margin was 9.4% compared to 5.9% for the second quarter of 2022. Gross profit was €37 million for the second quarter of 2023 compared to €32 million for the same period last year, while gross profit as a percentage of revenue increased to 57.2% compared to 55.2% for the second quarter of 2022.

Mr. Leys concluded, “Seven months into 2023, Materialise continues to expect to report consolidated revenue towards the high end of the €255 million to €260 million range we previously provided. We are also maintaining, despite the unexpected arbitration award granted against us in May 2023 […] our Adjusted EBITDA guidance between €28 million and €33 million for fiscal year 2023”.

Research
Composites AM 2024

746 composites AM companies individually surveyed and studied. Core composites AM market generated over $785 million in 2023. Market expected to grow to $7.8 billion by 2033 at 25.8% CAGR. This new...

Davide Sher

Since 2002, Davide has built up extensive experience as a technology journalist, market analyst and consultant for the additive manufacturing industry. Born in Milan, Italy, he spent 12 years in the United States, where he completed his studies at SUNY USB. As a journalist covering the tech and videogame industry for over 10 years, he began covering the AM industry in 2013, first as an international journalist and subsequently as a market analyst, focusing on the additive manufacturing industry and relative vertical markets. In 2016 he co-founded London-based VoxelMatters. Today the company publishes the leading news and insights websites VoxelMatters.com and Replicatore.it, as well as VoxelMatters Directory, the largest global directory of companies in the additive manufacturing industry.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close Popup
Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are necessary for the website to function and cannot be switched off in our systems.

Technical Cookies
In order to use this website we use the following technically required cookies
  • PHPSESSID
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Save
Accept all Services

Newsletter

Join our 12,000+ Professional community and get weekly AM industry insights straight to your inbox. Our editor-curated newsletter equips executives, engineers, and end-users with crucial updates, helping you stay ahead.