Materialise Nv · EURONEXT:MTLS
Materialise Nv — Q1 2021 Earnings Presentation
16 slides from Materialise Nv's earnings presentation, Apr 29, 2021
Slide 1: 1Q 2021 Financial Results
1Q 2021 Financial Results Conference Call April 29, 2021 www.materialise.com NASDAQ: MTLS
Slide 2: Safe Harbor Summary
Safe Harbor Summary This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections,
Slide 3: Agenda
Agenda Fried Vancraen Founder & CEO • Q1 2021 Highlights and Strategy Overview • Materialise Software Platform and Link3D • Q1 2021 Financial Results Peter Leys Executive Chairman • Fiscal 2021 Financial Guidance • Q&A Johan Albrecht CFO 3
Slide 4: Q1 2021 Financial Highlights
Q1 2021 Financial Highlights • Q1 2021 revenue was 45,554 kEUR, a decrease of 1.5% from the pre-pandemic first quarter 2020 • Q1 2021 revenue increased 0.6% from the fourth quarter 2020 • Q1 2021 Adjusted EBITDA grew 48% to 5,341 kEUR or 11.7% of revenue • Q1 2021 Operating profit grew to 290 kEUR c
Slide 5: Horizontal Flagship Products
Horizontal Flagship Products Magics Software Platform Mimics Innovation Suite 5
Slide 6: Vertical Product Lines and Initiatives
Vertical Product Lines and Initiatives Medical - CMF Wearables - Materialise Motion Wearables - Eyewear 6
Slide 7: Turbo-boosting Our Magics Cloud Platform
Turbo-boosting Our Magics Cloud Platform: ➢ Support End Part Manufacturing (MES) ➢ Accelerate Cloud Offering 7
Slide 8: Q1 2021 Consolidated Revenue
Q1 2021 Consolidated Revenue Q1 2021 Revenue by Segment € € • Positive growth from Software and Medical, offset by Manufacturing, where the increased order intake did not yet result in revenue growth • Deferred revenues from software license and maintenance fees grew by 1.9 million EUR from end last
Slide 9: Q1 2021 Consolidated Adjusted EBITDA
Q1 2021 Consolidated Adjusted EBITDA 11.7% € 7.8% • Q1 2021 consolidated Adjusted EBITDA increased by 48% • Variable cost of sales decreased, productivity improvements and continued cost savings • Continued high level of expenditures in research and development, and internal digital transformation p
Slide 10: Q1 2021 Software Segment
Q1 2021 Software Segment 26.9% Revenue Adjusted EBITDA • Q1 2021 revenue was 10,219 kEUR, 4.1% above Q1 2020 • Revenue was at the same level as the seasonal high Q4 2020 • Q1 2021 recurrent revenue decreased 6.3% • Q1 2021 non-recurrent revenue rose 20.0% versus Q1 2020 • Q1 2021 Adjusted EBITDA inc
Slide 11: Q1 2021 Medical Segment
Q1 2021 Medical Segment 28.0% 15.7% Revenue Adjusted EBITDA • Q1 2021 revenue increased 3,7% to 16,231 kEUR • Revenue growth from both medical devices and medical software sales • Q1 2021 Adjusted EBITDA grew 85% to 4,541 kEUR, 28% EBITDA margin: • Revenue growth, productivity improvements, continue
Slide 12: Q1 2021 Manufacturing Segment
Q1 2021 Manufacturing Segment 5.4% Revenue Adjusted EBITDA • Q1 2021 revenue decreased 8.2% compared to Q1 2020 • More positive outlook for Q2 from improving order intake in Q1 • Q1 2021 Adjusted EBITDA amounted to -144 kEUR • Cost savings measures offset by fixed cost of unused capacity 12
Slide 13: Income Statement Highlights
Income Statement Highlights Q1 (in thousands of euros, except where indicated) 2021 2020* Revenue 45,554 46,245 Cost of sales (20,986) (21,660) Gross profit 24,568 24,585 Research & development expenses (6,536) (6,527) Sales & marketing expenses (11,310) (12,627) General & administrative expenses (7
Slide 14: Other Financial Highlights
Other Financial Highlights (in thousands of euros) 03/31/2021 12/31/2020 Cash and equivalents 107,568 111,538 Receivables 31,899 30,871 Inventories 10,292 10,043 Payables 19,024 17,698 Deferred income 37,640 34,882 Borrowings 110,527 115,110 Equity 129,961 133,104 Total balance sheet 320,162 327,667
Slide 15: Outlook for 2021
Outlook for 2021 • Current revenue outlook for Q2 2021 • Expect Materialise Medical and Materialise Software to continue to perform well • Expect Materialise Manufacturing to recover more significantly • Expect consolidated Q2 2021 revenue to grow sequentially with potential of being up to 10% highe
Slide 16: Adjusted EBITDA Reconciliation
APPENDIX Adjusted EBITDA Reconciliation For the quarter ended March 31 (in thousands of euros) 2021 2020* Net profit/(loss) (3,667) (2,899) Income taxes (155) 457 Financial expenses 4,701 1,821 Financial income (589) (500) Share of loss in a joint venture - 39 Depreciation & amortization 5,081 4,760