Materialise NV (NASDAQ:MTLS) has reported financial results for the second quarter of 2017, and business is booming.
Headquartered in Leuven, Belgium the company is one of the pioneers in the 3D printing industry having written early software to improve additive manufacturing.
Materialise now reports revenue across 3 segments – software, medical and manufacturing. All segments have shown a year-on-year increase, with manufacturing growing the fastest. For the three months ended June 2017, Materialise posted €33.42 million in total revenue, a 21% increase on the comparative figure.
Revenue from software sales and end parts accounts for 81% of the Q2 2017 figures.
The company’s operating profit position improved by €0.86 million, with a loss of €0.3 million for the period. Adjusted earnings before interest, taxes, depreciation, and amortization were €2.7 million (€1.03M), a 164% increase on the comparative.
Executive Chairman Peter Leys said, “Materialise turned in another sound quarter, delivering strong revenue growth in all our segments, particularly Manufacturing, where, driven by a surge in end part manufacturing, revenue rose 32.5%.”
The latest results for the Manufacturing segment also beat reported final quarter growth of 19.4% for 2016.
| € Million | Variance | ||
| Q2 2017 | Q2 2016 | € Million | |
| Revenue | 33.61 | 27.6 | 6.01 |
| Operating profit | -0.295 | -1.151 | 0.856 |
| Net income | -0.955 | -0.436 | -0.519 |
| Adjusted EBITDA | 2.732 | 1.034 | 1.698 |
| Basic EPS | -0.02 | -0.01 | |
Data via Materialise NV.
Expanding capacity
The strong numbers reflect, “the pick-up in the demand environment for 3D printing this year, revenue from our Software segment increased 19.0%, while Medical rose almost 10% on the strength of solid software revenues,” Leys continued.
The company increased revenue while undergoing a period of expansion, opening new manufacturing facilities in Leuven and Poland. Gradual “scale effects and efficiency gains” from the expanded capacity are anticipated for the third quarter.
