Materialise records +14.5% higher revenues in Q2 2022

Materialise – Belgian supplier of 3D printing software and services increased its revenues by +14.5% in Q2 2022, reaching revenues of EUR 58 million and a net profit of EUR 896 thousand. The company with a large factory in Poland, in Bielany Wrocławskie, emphasizes that the result is due to the introduction of significant changes in the area of ​​production services. The move away from automotive prototyping turned out to be crucial, it allowed the company to expand in other industrial and medical sectors and increase revenues from these projects by +25% year-on-year.

Revenue from the software segment – Materialise Software, increased by +6.1% to EUR 10.6 million in the second quarter of 2022. Revenue from the Materialise Medical segment increased by +18.9% to EUR 20.8 million, and Materialise Manufacturing revenue increased by +14.2% to EUR 26.5 million. Gross profit was EUR 3.2 million. Research and development, sales and marketing, general and administrative costs increased by a total of +25.1%. The net profit for the second quarter of 2022 was also much lower and amounted to PLN 896 thousand. EUR compared to EUR 3.37 million for the same period in 2021.

As of June 30, 2022, Materialise has cash and cash equivalents of EUR 168 million and gross debt of EUR 90.4 million. Net equity is EUR 234 million compared to EUR 232 million at 31 December 2021.

This is how changes in strategy are explained by Fred Vancraen – “We refused to develop low-margin car prototype designs in plastics and instead, in the existing automotive subcontracting, we focused our efforts where we have a strong competitive advantage, for example on large stereolithographic parts printed on our giant 3D printers. . As part of the same strategy, we are also focusing on the automotive sector, but only in the area of metal 3D printing in order to bring metal parts trading back to pre-COVID levels as soon as possible.”

Source: www.materialise.com