Materialise NV (MTLS) Bundle
A Brief History of Materialise NV
Company Overview
Materialise NV, headquartered in Leuven, Belgium, is a leading provider of additive manufacturing and medical software solutions. The company specializes in 3D printing services and software, catering to various industries including healthcare, automotive, and aerospace.
Financial Performance in 2024
As of Q3 2024, Materialise reported a total revenue of 68,652 kEUR, reflecting a growth of 14.2% compared to 60,130 kEUR in the same period of 2023. The net profit for Q3 2024 was 3,038 kEUR, down from 4,013 kEUR in Q3 2023.
| Metrics | Q3 2024 | Q3 2023 |
|---|---|---|
| Total Revenue (kEUR) | 68,652 | 60,130 |
| Net Profit (kEUR) | 3,038 | 4,013 |
| Adjusted EBIT (kEUR) | 4,408 | 2,330 |
| Adjusted EBITDA (kEUR) | 9,895 | 7,857 |
| Gross Profit Margin (%) | 57.2% | 56.0% |
Segment Performance
Materialise operates through three main segments: Medical, Software, and Manufacturing. In Q3 2024, the revenue breakdown was as follows:
| Segment | Revenue (kEUR) | Adjusted EBITDA (kEUR) | Adjusted EBITDA Margin (%) |
|---|---|---|---|
| Materialise Medical | 30,197 | 9,895 | 32.8% |
| Materialise Software | 11,111 | 1,975 | 17.8% |
| Materialise Manufacturing | 27,344 | 701 | 2.6% |
Year-to-Date Financial Summary
For the nine months ended September 30, 2024, Materialise reported:
| Metrics | 2024 (kEUR) | 2023 (kEUR) |
|---|---|---|
| Total Revenue | 201,085 | 190,832 |
| Net Profit | 10,500 | 7,234 |
| Adjusted EBIT | 10,937 | 6,732 |
| Adjusted EBITDA | 27,178 | 22,923 |
Cash Flow and Shareholder Equity
As of September 30, 2024, Materialise had cash and cash equivalents of 116,163 kEUR, a decrease from 127,573 kEUR at the beginning of the year. The company’s gross debt stood at 53,037 kEUR, down from 64,398 kEUR at the end of 2023.
Net shareholders’ equity increased to 246,989 kEUR from 236,594 kEUR at the end of 2023.
Future Outlook
Materialise has provided guidance for full-year 2024 revenues to be in the range of 265,000 to 275,000 kEUR and expects Adjusted EBIT to fall between 11,000 kEUR and 14,000 kEUR.
A Who Owns Materialise NV (MTLS)
Shareholder Structure
As of 2024, the ownership of Materialise NV (MTLS) is comprised of various institutional and individual investors. The table below summarizes the major shareholders and their respective ownership stakes:
| Shareholder | Ownership Percentage | Type of Shareholder |
|---|---|---|
| Vanguard Group Inc. | 9.1% | Institutional |
| BlackRock Inc. | 8.5% | Institutional |
| Invesco Ltd. | 5.2% | Institutional |
| FMR LLC (Fidelity) | 4.8% | Institutional |
| Brigitte de Vet-Veithen (CEO) | 1.2% | Individual |
| Other Individual & Retail Investors | 71.2% | Individual |
Recent Shareholder Changes
Materialise NV has seen some shifts in its shareholder composition over the past year, particularly with increased interest from larger institutional investors, indicating growing confidence in the company’s performance.
Market Capitalization
As of October 2024, the market capitalization of Materialise NV is approximately €250 million. This reflects a significant increase compared to previous fiscal periods, driven by a robust performance in its business segments.
Performance Highlights
In the third quarter of 2024, Materialise reported:
- Total revenue of €68.65 million, up 14.2% year-over-year.
- Net profit of €3.04 million, compared to €4.01 million in Q3 2023.
- Adjusted EBIT of €4.41 million, representing a substantial increase from €2.33 million in the same quarter last year.
Investor Sentiment
The sentiment among investors appears positive, with analysts projecting continued growth in revenue and profitability for Materialise, particularly in its medical and software segments, which have shown strong performance metrics.
Future Outlook
Materialise NV aims to maintain its growth trajectory, with guidance for full-year 2024 revenues projected between €265 million and €275 million. The company is also targeting an Adjusted EBIT of between €11 million and €14 million for the same period.
Materialise NV (MTLS) Mission Statement
Company Overview
Materialise NV is a leading provider of additive manufacturing and medical software, specializing in sophisticated 3D printing services. The company is headquartered in Belgium and operates globally, incorporating over 30 years of experience into its product offerings.
Mission Statement
Materialise aims to leverage its extensive expertise in 3D printing to create innovative solutions that enhance the quality of life and promote sustainability across various industries, including healthcare, automotive, aerospace, and consumer goods. Their mission is to be the backbone of the 3D printing industry, enabling organizations to build groundbreaking applications that improve health and well-being.
Financial Performance (Q3 2024)
Materialise reported strong operational results for the third quarter of 2024, reinforcing its commitment to growth and innovation.
| Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Total Revenue (kEUR) | 68,652 | 60,130 | 14.2 |
| Net Profit (kEUR) | 3,038 | 4,013 | -24.2 |
| Adjusted EBIT (kEUR) | 4,408 | 2,330 | 89.0 |
| Adjusted EBITDA (kEUR) | 9,895 | 7,857 | 26.0 |
| Gross Profit (kEUR) | 39,297 | 33,696 | 16.6 |
| Gross Profit Margin (%) | 57.2 | 56.0 | 2.1 |
Segment Revenue Breakdown
The company's revenue streams show diversified growth across its business segments:
| Segment | Revenue (kEUR) Q3 2024 | Revenue (kEUR) Q3 2023 | Change (%) |
|---|---|---|---|
| Materialise Medical | 30,197 | 24,263 | 24.5 |
| Materialise Software | 11,111 | 10,811 | 2.8 |
| Materialise Manufacturing | 27,344 | 25,056 | 9.1 |
Guidance for 2024
Materialise has set ambitious targets for fiscal year 2024, anticipating revenues in the range of 265,000 to 275,000 kEUR and maintaining an Adjusted EBIT guidance of 11,000 to 14,000 kEUR, despite the integration challenges from the recent acquisition of FEops.
Cash Position and Shareholder Equity
As of September 30, 2024, Materialise's financial position reflects a stable cash flow and solid equity base:
| Metric | Amount (kEUR) |
|---|---|
| Cash and Cash Equivalents | 116,163 |
| Gross Debt | 53,037 |
| Net Cash Position | 63,126 |
| Net Shareholders’ Equity | 246,989 |
Conclusion
Materialise NV’s mission is clearly reflected in its operational strategies and financial performance, positioning the company as a pivotal player in the additive manufacturing landscape.
How Materialise NV (MTLS) Works
Company Overview
Materialise NV is a leading provider in the field of additive manufacturing and medical software solutions. The company specializes in 3D printing services and software that cater to various industries, including healthcare, automotive, aerospace, and consumer goods.
Financial Performance
As of the third quarter of 2024, Materialise reported comprehensive financial results reflecting growth across its segments. The total revenue for the third quarter increased by 14.2% to 68,652 kEUR from 60,130 kEUR in the same period of 2023.
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Total Revenue | 68,652 kEUR | 60,130 kEUR |
| Gross Profit | 39,297 kEUR | 33,696 kEUR |
| Net Profit | 3,038 kEUR | 4,013 kEUR |
| Adjusted EBIT | 4,408 kEUR | 2,330 kEUR |
| Adjusted EBITDA | 9,895 kEUR | 7,857 kEUR |
Segment Performance
The performance of Materialise’s three business segments—Medical, Software, and Manufacturing—was notable in Q3 2024.
| Segment | Revenue (kEUR) | Adjusted EBITDA (kEUR) | Adjusted EBITDA Margin (%) |
|---|---|---|---|
| Materialise Medical | 30,197 | 9,895 | 32.8% |
| Materialise Software | 11,111 | 1,975 | 17.8% |
| Materialise Manufacturing | 27,344 | 701 | 2.6% |
Operating Expenses
Operating expenses also saw an increase, with the following breakdown for Q3 2024:
| Expense Type | Amount (kEUR) |
|---|---|
| Research and Development | 10,979 |
| Sales and Marketing | 14,896 |
| General and Administrative | 9,981 |
Cash Flow and Debt Position
Materialise's cash flow from operating activities for Q3 2024 was reported at 6,870 kEUR, while total capital expenditures amounted to 7,328 kEUR. As of September 30, 2024, the company had cash and cash equivalents of 116,163 kEUR and gross debt of 53,037 kEUR, resulting in a net cash position of 63,126 kEUR.
Guidance for 2024
Management has provided guidance for the full year 2024, projecting revenues within the range of 265,000 to 275,000 kEUR and maintaining an Adjusted EBIT guidance of 11,000 kEUR to 14,000 kEUR.
Conclusion
Materialise NV continues to strengthen its position in the additive manufacturing industry with robust financial performance and strategic growth across its business segments.
How Materialise NV (MTLS) Makes Money
Revenue Segments
Materialise NV generates revenue through three primary segments: Medical, Software, and Manufacturing. Each segment has shown growth, contributing to the overall financial performance of the company.
| Segment | Q3 2024 Revenue (kEUR) | Q3 2023 Revenue (kEUR) | Revenue Growth (%) | Adjusted EBITDA (kEUR) | Adjusted EBITDA Margin (%) |
|---|---|---|---|---|---|
| Materialise Medical | 30,197 | 24,263 | 24.5% | 9,895 | 32.8% |
| Materialise Software | 11,111 | 10,811 | 2.8% | 1,975 | 17.8% |
| Materialise Manufacturing | 27,344 | 25,056 | 9.1% | 701 | 2.6% |
| Total | 68,652 | 60,130 | 14.2% | 12,572 | 18.3% |
Financial Performance Overview
For the third quarter of 2024, Materialise reported a consolidated revenue of 68,652 kEUR, a rise of 14.2% from 60,130 kEUR in the same period of 2023. Gross profit for Q3 2024 was 39,297 kEUR, translating to a gross profit margin of 57.2% compared to 56.0% in Q3 2023.
Operating Expenses
Operating expenses include Research and Development (R&D), Sales and Marketing (S&M), and General and Administrative (G&A) costs. These expenses increased to 35,856 kEUR for Q3 2024, up from 32,076 kEUR in Q3 2023.
| Expense Type | Q3 2024 (kEUR) | Q3 2023 (kEUR) |
|---|---|---|
| Research and Development | 12,292 | 9,476 |
| Sales and Marketing | 16,678 | 13,960 |
| General and Administrative | 11,175 | 8,640 |
Profitability Metrics
Materialise's Adjusted EBIT for Q3 2024 was 4,408 kEUR, reflecting an increase of 89% from 2,330 kEUR in the previous year. The Adjusted EBIT margin improved to 6.4% from 3.9%.
Guidance for 2024
Materialise has projected full-year revenues for 2024 to be between 265,000 kEUR and 275,000 kEUR, with an Adjusted EBIT guidance of 11,000 kEUR to 14,000 kEUR.
Cash Flow and Financial Position
As of September 30, 2024, Materialise reported cash and cash equivalents of 116,163 kEUR, down from 127,573 kEUR at the end of 2023. The company’s net cash position stood at 63,126 kEUR.
| Financial Metric | September 30, 2024 (kEUR) | December 31, 2023 (kEUR) |
|---|---|---|
| Cash and Cash Equivalents | 116,163 | 127,573 |
| Gross Debt | 53,037 | 64,398 |
| Net Cash Position | 63,126 | 63,175 |
Conclusion on Revenue Model
Materialise NV's revenue model is supported by diverse streams across its Medical, Software, and Manufacturing segments, with a consistent focus on innovation and operational efficiency driving its financial growth in 2024.
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Article updated on 8 Nov 2024
Resources:
- Materialise NV (MTLS) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Materialise NV (MTLS)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Materialise NV (MTLS)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.