Materialise Nv · EURONEXT:MTLS
Materialise Nv — Q4 2021 Earnings Presentation
14 slides from Materialise Nv's earnings presentation, Mar 3, 2022
Slide 1: Q4 2021 Financial Results Conference Call
Q4 2021 Financial Results Conference Call March 3, 2022 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 • Q4 and FY 2021 Highlights • Key 2021 Operational Achievements • Q4 2021 Financial Results Peter Leys Executive Chairman • Fiscal 2022 Financial Guidance • Q&A Johan Albrecht CFO 3
Slide 4: Q4 2021 & Full Year Financial Highlights
Q4 2021 & Full Year Financial Highlights Q4 2021 Full Year 2021 • Q4 2021 revenue increased 25.8% to 56,989 kEUR from last year • Total annual revenue increased 20.5% to 205,450 kEUR • Q4 2021 Adjusted EBITDA increased 42% to 10,490 kEUR or • Full year Adjusted EBITDA increased 59% to 32,497 kEUR fr
Slide 5: Continued R&D Spending for Long-Term Sustainability and Short-Term Impact
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Slide 6: Consolidated Revenue
Q4 2021 & Full Year Consolidated Revenue Q4 2021 Revenue by Segment €250,000 Thousands €205,450 22% Software €200,000 €170,449 Medical €150,000 42% Manufacturing €100,000 €56,989 €45,301 36% €50,000 €0 Q4 2020 Q4 2021 FY 2020 FY 2021 • Strong double-digit growth from all segments compared to Q4 2020
Slide 7: Consolidated Adjusted EBITDA
Q4 2021 & Full Year Consolidated Adjusted EBITDA 15.8% €35,000 €32,497 Thousands €30,000 12.0% €25,000 €20,378 €20,000 18.4% €15,000 16.3% €10,490 €10,000 €7,371 €5,000 €0 Q4 2020 Q4 2021 FY 2020 FY 2021 • Q4 2021 consolidated Adjusted EBITDA increased 42% from last year • Full year Adjusted EBITDA
Slide 8: Software Segment
Q4 2021 & Full Year Software Segment 36.8% €50,000 €20,000 34.3% €42,902 Thousands Thousands €39,054 €15,784 €40,000 €16,000 €13,383 €30,000 €12,000 45.3% 37.9% €20,000 €8,000 €10,216 €12,183 €5,518 €10,000 €3,867 €4,000 €0 €0 Q4 2020 Q4 2021 FY 2020 FY 2021 Q4 2020 Q4 2021 FY 2020 FY 2021 Revenue A
Slide 9: Medical Segment
Q4 2021 & Full Year Medical Segment 28.2% €80,000 €73,368 €20,669 €22,000 22.5% Thousands Thousands €70,000 €61,729 €20,000 €60,000 €18,000 €16,000 30.7% €13,914 €50,000 €14,000 €40,000 €12,000 28.2% €30,000 €10,000 €17,188 €20,682 €8,000 €6,358 €20,000 €4,844 €6,000 €10,000 €4,000 €0 €2,000 €0 Q4 2
Slide 10: Manufacturing Segment
Q4 2021 & Full Year Manufacturing Segment €100,000 €89,334 €14,000 Thousands €90,000 Thousands €80,000 €12,000 €69,635 7.2% €70,000 €10,000 €60,000 €8,000 3.7% €6,429 €50,000 €40,000 €6,000 6.1% 4.8 % €30,000 €24,135 €4,000 €2,546 €17,889 €20,000 €2,000 €1,099 €1,167 €10,000 €0 €0 Q4 2020 Q4 2021 FY
Slide 11: Income Statement Highlights
Income Statement Highlights Q4 Full Year (in thousands of euros, except where indicated) 2021 2020 (*) 2021 2020 (*) Revenue 56,989 45,301 205,450 170,449 Cost of sales (23,791) (19,137) (88,169) (76,446) Gross profit 33,198 26,165 117,281 94,003 Research & development expenses (6,896) (8,669) (26,8
Slide 12: Other Financial Highlights
Other Financial Highlights (in thousands of euros) 12/31/’21 12/31/’20(*) Cash and equivalents 196,028 111,538 Receivables 41,541 30,871 Inventories 11,295 10,043 Payables 20,954 18,672 Deferred income 38,258 34,884 Borrowings 99,107 115,110 Equity 232,577 133,183 Total balance sheet 413,408 325,923
Slide 13: Fiscal 2022 Financial Guidance
Fiscal 2022 Financial Guidance • Encouraged by outstanding 2H 2021 results • Current strategy and outlook for FY 2022: • Continue scaling mature business lines • Potential for continued healthy margin • Increase spending, especially in R&D and S&M, to accelerate the development of new growth busines
Slide 14: Adjusted EBITDA Reconciliation
APPENDIX Adjusted EBITDA Reconciliation For the quarter ended For the year ended December 31 December 31 (in thousands of euros) 2021 2020(*) 2021 2020(*) Net profit/(loss) 4,762 (2,039) 13,145 (7,192) Income taxes 490 (531) 591 (1,028) Financial expenses 919 1,073 4,101 5,996 Financial income (1,19