Materialise (MTLS) Q4 2024 earnings summary

Executive summary

• Achieved 4.2% revenue growth in 2024 to EUR 266.8 million, driven by 14.8% growth in the Medical segment, despite macroeconomic headwinds in manufacturing and software.

• Major milestones included the acquisition of FEops, launch of the Mimics Flow platform, and expansion in medical personalization.

• Manufacturing focus shifted to certified end-use parts, with strong growth in aerospace and heavy parts, but headwinds in prototyping and automotive sectors.

• Continued investments in R&D, new plant start-up, and integration activities impacted profitability.

• CEO highlighted ongoing macroeconomic headwinds and continued investment in growth areas.

Financial highlights

• Q4 2024 revenue was EUR 65.7 million; full-year revenue reached EUR 266.8 million, up 4.2% year-over-year.

• Q4 adjusted EBITDA was EUR 4.3 million (6.6% margin), down from EUR 8.5 million in Q4 2023; full-year adjusted EBITDA stable at EUR 31.5 million (11.8% margin).

• Q4 adjusted EBIT was EUR -1.2 million; full-year adjusted EBIT was EUR 9.7 million (3.7% margin).

• Q4 net profit was EUR 2.9 million, reversing a net loss in Q4 2023; full-year net profit EUR 13.4 million (EUR 0.23/share), nearly doubling from 2023.

• Gross profit margin for 2024 was 56.5%, up from 55.4% in 2023.

Outlook and guidance

• 2025 revenue expected between EUR 270 million and EUR 285 million; adjusted EBIT guidance EUR 6 million–10 million.

• Continued growth anticipated in medical and software segments, with manufacturing to remain challenged by European macroeconomic conditions.

• Focus on cost control and optimization, especially in manufacturing and corporate overhead.

• Software segment to continue transition to cloud-based subscriptions, impacting growth.