Materialise records sales growth in 2023

The 3D printing service provider and software developer Materialise NV closed the 2023 financial year on December 31 with revenue of EUR 256.1 million. The company thus recorded growth of 10.4 percent compared to the previous year. Despite continuing difficult market conditions, Materialise’s business is in a solid position. In the fourth quarter, the company generated revenue of EUR 65.3 million, an increase of 4.1%.

“Despite the ongoing challenging economic and geopolitical conditions, we were able to increase our total revenue by 4 percent in the last quarter of 2023 and double our adjusted EBITDA compared to the same period last year,” commented CEO Brigitte de Vet-Veithen. “Materialise Medical again recorded double-digit revenue growth and became the largest revenue contributor. With EUR 128 million in cash and cash equivalents, additional financing and a positive operating cash flow, we are well positioned to continue investing in innovative 3D products and software solutions.”

Revenue in the Materialise Software segment increased by 1.7% to EUR 44.4 million in the 2023 financial year. Adjusted EBITDA increased from EUR 1.5 million to EUR 7.4 million and the margin amounted to 16.8%. Revenue in the Materialise Manufacturing segment rose by 6.6% to EUR 110.3 million.

Gross profit increased by 12.7 percent to 145.1 million euros, with a profit margin of 56.7 percent.

De Vet-Veithen summarized: “Our solid finances and strong product portfolio make Materialise resilient to economic uncertainties. We expect sales growth in all segments, albeit with temporary burdens due to the transition to cloud-based subscription models in the software area. Based on current market conditions, we expect consolidated revenue of between EUR 265 and 275 million and adjusted EBIT of between EUR 11 and 14 million for the full year 2024.”

Further details can be found directly at Materialise.