Materialise – Belgian manufacturer of specialized 3D printing software and one of the largest service companies in the world, announced financial results for Q1 2022. The company’s revenues increased by + 16% in Q1 2022, which translated into EUR 53 million. This growth is largely due to the 3D Printing Services division, which has managed to return to pre-C19 revenue levels.
The driving force behind the company’s revenues in Q1 2022 was production, the advantage of which increased significantly over other segments of the company’s activity. The manufacturing division of Materialise generated revenues of EUR 24.1 million, which equaled the revenues of the first quarter of 2019, before the C19 pandemic. At the same time, on a year-on-year basis, revenues from this segment increased by as much as + 26%.
The second strong segment of Materialise’s activity was the medical department, generating in the first quarter of this year. EUR 18.3 million in revenues, i.e. + 13% more than in the first quarter of last year. The software segment of Materialise also recorded an increase in revenues, albeit at a much slower pace, as it generated EUR 10.5 million, ie + 3% more than in the previous year. This result also includes revenues generated by Link3D – a company acquired by Materialise last year.
Despite the very good financial results, Executive Chairman of the company – Peter Leyssticks emotions, saying that although he is “encouraged by the good results” achieved in the first quarter of 2022, he remains cautious in his further predictions, due to the unfavorable pandemic situation in China, the Russian invasion of Ukraine and a host of other disruptors to supply chains. At the same time, Materialise is reiterating its full-year forecasts which assume revenue growth of “at least 10%” in the last quarter.