3D Printing Service ProvidersFinancial ReportsMoney & Funding

Materialise Q3 revenues are booming post COVID-19

Results show strong growth indicators on all fronts including rmanufacturing up 61%

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

Materialise (NASDAQ:MTLS), a provider of additive manufacturing and medical software and of sophisticated 3D printing services reported financial results for the third quarter ended September 30, 2021, showing strong growth on all indicators, including revenues up 28.8% to euro 52.2 million.

Executive Chairman Peter Leys commented, “While the COVID-19 pandemic lingers on in certain parts of the world, record third-quarter results show that Materialise is coming out of this crisis stronger than before: revenue grew by 28% to a quarterly record of 52.2 euro and solid operational performances in all three of segments resulted in a quarterly Adjusted EBITDA record of 9.7 million EUR. We plan to continue to invest to further accelerate growth and look forward to introducing new product upgrades at next month’s Formnext in Frankfurt.”

Materialise Q3 revenues – 2021 results

Total revenue for the third quarter of 2021 increased 28.0% to 52,2 million euros from 40.8 million euros for the third quarter of 2020. Adjusted EBITDA increased 62% to 9.7 million euros from 6.0 million euros in the previous period. The Adjusted EBITDA margin (Adjusted EBITDA divided by total revenue) for the third quarter of 2021 increased to 18.7% from 14.8% for the third quarter of 2020.

Materialise Q3 revenues the Software segment increased 10.4% to 10.5 million euro for the third quarter of 2021 from 9.5 million euro for the same quarter last year. Segment EBITDA increased 19.1% to 3.7 million euro from 3.1 million euro while the segment EBITDA margin increased to 35.4% compared to 32.9% in the prior-year period.

Revenue from Materialise Medical segment increased 10.2% to 19.0 euro for the third quarter of 2021 compared to 17.2 million euro for the same period in 2020. Segment EBITDA decreased to 5.3 million euro from 5.5 million euro while the segment EBITDA margin was 27.8% compared to 31.9% for the third quarter of 2020.

Materialise Q3 revenues are booming post COVID-19 - 3D printing services

Materialise Q3 revenues in the Manufacturing segment increased 61.2% to 22.9 million euros from 14.2 million euro for the third quarter of 2020. Segment EBITDA increased to 3.5 euros from a loss of (321) euro while the segment EBITDA margin increased to 15.5% compared to (2.3)% in the third quarter of 2020.

Gross profit was 31.1 million euro, an increase of 33.4% compared to 23.3 million euro for the same period last year, while the gross profit margin increased to 59.5% of total revenue compared to 57.1% for the third quarter of 2020.

Research and development (“R&D”), sales and marketing (“S&M”) and general and administrative (“G&A”) expenses increased, in the aggregate, 11.3% to 27.0 euro for the third quarter of 2021 from 24.2 million euro for the third quarter of 2020.

Net other operating income was 355 thousand euro compared to 1.2 million euro for the third quarter of 2020. The operating result increased to 4.5 million euro from 284 euro for the third quarter of 2020. Net financial result was 4.2 million euros compared to (1.3 million) euros for the third quarter of 2020. The third quarter of 2021 contained income tax expenses of (80 thousand) euros, compared to 764 thousand euros in the third quarter of 2020.

As a result of the above, net result for the third quarter of 2021 increased 8.9 million euro to a net profit of 8,652 euro, compared to a net loss of (282) euro for the same period in 2020. Total comprehensive income for the third quarter of 2021, which includes exchange differences on translation of foreign operations, was 8.3 million euro compared to (1.7 million) euro for the 2020 period.

2021 Guidance

Mr. Leys concluded, “We expect consolidated revenues for 2021 to be towards the higher end of the 197 million euro to 200 million euro range we previously provided. For 2021, we are increasing Adjusted EBITDA guidance from up to 25 million euro to up to 28 million euro.”

Research 2022
Polymer AM Market Opportunities and Trends

741 unique polymer AM companies individually surveyed and studied. Core polymer AM market generated $4.6 billion...

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 3dpbm. Today the company publishes the leading news and insights websites 3D Printing Media Network and Replicatore, as well as 3D Printing Business Directory, the largest global directory of companies in the additive manufacturing industry.

Related Articles

Back to top button

We use cookies to give you the best online experience and for ads personalisation. By agreeing you accept the use of cookies in accordance with our cookie policy.

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.

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
Accept all Services

STAY AHEAD

OF THE CURVE

Join industry leaders and receive the latest insights on what really matters in AM!

This information will never be shared with 3rd parties

I’ve read and accept the privacy policy.*

WELCOME ON BOARD!