Loans & borrowings 23,880 33,582
Lease liabilities 5,403 5,333
Deferred tax liabilities 3,324 3,725
Deferred income 6,528 10,701
Other non-current liabilities 697 1,745
Total non-current liabilities 39,832 55,086
Current liabilities
Loans & borrowings 21,294 22,873
Lease liabilities 2,460 2,610
Trade payables 21,225 21,196
Tax payables 2,924 1,777
Deferred income 40,878 40,791
Other current liabilities 19,056 15,703
Total current liabilities 107,837 104,950
Total equity and liabilities 394,658 396,630
Consolidated statement of cash flows
(Unaudited)
for the nine months ended
September 30,
---------------------------
In 000EUR 2024 2023
------------- ------------
Operating activities
Net (loss) profit for the period 10,500 7,234
Non-cash and operational adjustments 16,964 15,136
Depreciation of property plant &
equipment 11,370 11,162
Amortization of intangible assets 4,838 5,046
Share-based payment expense 213 -
Loss (gain) on disposal of intangible
assets and property, plant &
equipment (114) (401)
Movement in provisions 311 (434)
Movement reserve for bad debt and slow
moving inventory 202 445
Financial income (5,492) (4,811)
Financial expense 4,066 3,389
Impact of foreign currencies (15) (152)
(Deferred) income taxes 1,584 892
Working capital adjustments (3,860) (3,601)
Decrease (increase) in trade
receivables and other receivables 1,666 8,965
Decrease (increase) in inventories and
contracts in progress (672) (751)
Increase (decrease) in deferred revenue (4,284) (4,532)
Increase (decrease) in trade payables
and other payables $(569.SI)$ (7,283)
Income tax paid & Interest received 1,635 1,194
Net cash flow from operating activities 25,239 19,963
for the nine months ended
September 30,
---------------------------
In 000EUR 2024 2023
------------- ------------
Investing activities
Purchase of property, plant & equipment (17,305) (6,862)
Purchase of intangible assets (1,312) (2,448)
Proceeds from the sale of property, plant
& equipment & intangible assets (net) 232 645
Acquisition of subsidiary (net of cash) (2,670) -
Net cash flow used in investing activities (21,055) (8,665)
Financing activities
Repayment of loans & borrowings (11,470) (14,334)
Repayment of leases (2,314) (2,640)
Capital increase - -
Interest paid (1,052) (1,334)
Other financial income (expense) (240) (25)
Net cash flow from (used in) financing
activities (15,077) (18,334)
Net increase/(decrease) of cash & cash
equivalents (10,892) (7,037)
Cash & Cash equivalents at the beginning
of the year 127,573 140,867
Exchange rate differences on cash & cash
equivalents (517) 123
Cash & cash equivalents at end of the period 116,163 133,953
Reconciliation of Net Profit (Loss) to EBITDA and Adjusted EBITDA
(Unaudited)
for the three months for the nine months
ended September 30, ended September 30,
--------------------- ------------------------
In 000EUR 2024 2023 2024 2023
---------- --------- ---------- ------------
Net profit (loss) for
the period 3,038 4,013 10,500 7,234
Income taxes 138 (363) 1,607 886
Financial
expenses 1,843 1,554 4,082 3,599
Financial
income (706) (2,873) (5,489) (4,987)
Depreciation
and
amortization 5,487 5,527 16,241 16,191
EBITDA 9,800 7,857 26,941 22,923
Share-based
compensation expense
(1) 71 - 213 -
Acquisition-related
expenses of business
combinations (2) 24 - 24 -
Adjusted EBITDA 9,895 7,857 27,178 22,923
(1) Share-based compensation expense represents the cost of
equity-settled and share-based payments to employees.
(2) Acquisition-related expenses of business combinations represent
expenses incurred in connection with the acquisition of Feops.
Reconciliation of Net Profit (Loss) to EBIT and Adjusted EBIT
(Unaudited)
for the three months for the nine months
ended September 30, ended September 30,
--------------------- ------------------------
In 000EUR 2024 2023 2024 2023
---------- --------- ---------- ------------
Net profit (loss) for
the period 3,038 4,013 10,500 7,234
Income taxes 138 (363) 1,607 886
Financial
expenses 1,843 1,554 4,082 3,599
Financial
income (706) (2,873) (5,489) (4,987)
EBIT 4,313 2,330 10,700 6,732
Share-based
compensation expense
(1) 71 - 213 -
Acquisition-related
expenses of business
combinations (2) 24 - 24 -
Adjusted EBIT 4,408 2,330 10,937 6,732
(1) Share-based compensation expense represents the cost of
equity-settled and share-based payments to employees.
(2) Acquisition-related expenses of business combinations represent
expenses incurred in connection with the acquisition of Feops.
Segment P&L
(Unaudited)
Materialise Materialise Materialise Total Unallocated
In 000EUR Medical Software Manufacturing segments (1) Consolidated
----------- ----------- ------------- -------- ----------- ------------
For the three
months ended
September
30, 2024
Revenues 30,197 11,111 27,344 68,652 (0) 68,652
Segment (adj)
EBITDA 9,895 1,975 701 12,572 (2,677) 9,895
Segment (adj)
EBITDA % 32.8% 17.8% 2.6% 18.3% 14.4%
For the three
months ended
September
30, 2023
Revenues 24,263 10,811 25,056 60,130 0 60,130
Segment (adj)
EBITDA 7,143 1,781 1,074 9,998 (2,141) 7,857
Segment (adj)
EBITDA % 29.4% 16.5% 4.3% 16.6% 13.1%
Materialise Materialise Materialise Total Unallocated
In 000EUR Medical Software Manufacturing segments (1) Consolidated
----------- ----------- ------------- -------- ----------- ------------
For the nine
months ended
September
30, 2024
Revenues 84,522 32,775 83,789 201,085 0 201,085
Segment (adj)
EBITDA 26,015 4,439 4,648 35,103 (7,925) 27,178
Segment (adj)
EBITDA % 30.8% 13.5% 5.5% 17.5% 13.5%
For the nine
months ended
September
30, 2023
Revenues 73,528 33,192 84,112 190,832 0 190,833
Segment (adj)
EBITDA 17,179 6,190 6,980 30,349 (7,426) 22,923
Segment (adj)
EBITDA % 23.4% 18.7% 8.3% 15.9% 12.0%
(1) Unallocated segment adjusted EBITDA consists of corporate research and development and
corporate other operating income (expense), and the added share-based compensation
(MORE TO FOLLOW) Dow Jones Newswires
October 24, 2024 06:30 ET (10:30 GMT)
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