“For fiscal 2018, we expect to report consolidated revenue between 180,000 kEUR - 185,000 kEUR and Adjusted EBITDA between 22,000 kEUR - 25,000 kEUR. We expect our financial results to be particularly strong in the third quarter and even stronger in the fourth quarter. We expect the amount of deferred revenue that Materialise generates from annual licenses and maintenance in 2018 to increase by an amount between 2,000 kEUR – 4,000 kEUR.”
Materialise uses EBITDA and Adjusted EBITDA as supplemental financial measures of its financial performance. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of loss in a joint venture and depreciation and amortization. Adjusted EBITDA is determined by adding non-cash stock-based compensation expenses and acquisition-related expenses of business combinations to EBITDA. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of long-term investment and financing decisions, rather than the performance of the company's day-to-day operations. As compared to net profit, these measures are limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company's business, or the charges associated with impairments. Management evaluates such items through other financial measures such as capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company's ability to grow or as a valuation measurement. The company's calculation of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBITDA and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company's presentation of EBITDA and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.
This press release contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this press release were made at a rate of EUR 1.00 to USD 1.1993, the reference rate of the European Central Bank on December 31, 2017.
Conference Call and Webcast
Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the fourth quarter of 2017 on the same day, Tuesday, March 6, 2018, at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Wilfried Vancraen, Founder and Chief Executive Officer; Peter Leys, Executive Chairman; and Johan Albrecht, Chief Financial Officer. A question-and-answer session will follow management’s remarks.
To access the conference call, please dial 844-469-2530 (U.S.) or 765-507-2679 (international), passcode #7084959. The conference call will also be broadcast live over the Internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com.
A webcast of the conference call will be archived on the company's website for one year.
Materialise incorporates more than 25 years of 3D printing experience into a range of software solutions and 3D printing services, which Materialise seeks to form the backbone of the 3D printing industry. Materialise’s open and flexible solutions enable players in a wide variety of industries, including healthcare, automotive, aerospace, art and design, and consumer goods, to build innovative 3D printing applications that aim to make the world a better and healthier place. Headquartered in Belgium, with branches worldwide, Materialise combines one of the largest groups of software developers in the industry with one of the largest 3D printing facilities in the world. For additional information, please visit: www.materialise.com.
Cautionary Statement on Forward-Looking Statements
This press release 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, outlook, analyses or current expectations, plans,
objectives, strategies and prospects, both financial and business,
including statements concerning, among other things, current estimates
of fiscal 2018 revenues, deferred revenue from annual licenses and
maintenance and Adjusted EBITDA, the benefits of the ACTech acquisition,
results of operations, cash needs, capital expenditures, expenses,
financial condition, liquidity, prospects, growth and strategies
(including our strategic priorities for 2018), and the trends and
competition that may affect the markets, industry or us. Such statements
are subject to known and unknown uncertainties and risks. When used in
this press release, the words “estimate,” “expect,” “anticipate,”
“project,” “plan,” “intend,” “believe,” “forecast,” “will,” “may,”
“could,” “might,” “aim,” “should,” and variations of such words or
similar expressions are intended to identify forward-looking statements.
These forward-looking statements are based upon the expectations of
management under current assumptions at the time of this press release.
These expectations, beliefs and projections are expressed in good faith
and the company believes there is a reasonable basis for them. However,
the company cannot offer any assurance that our expectations, beliefs
and projections will actually be achieved. By their nature,
forward-looking statements involve risks and uncertainties because they
relate to events, competitive dynamics and industry change, and depend
on economic circumstances that may or may not occur in the future or may
occur on longer or shorter timelines than anticipated. We caution you
that forward-looking statements are not guarantees of future performance
and involve known and unknown risks, uncertainties and other factors
that are in some cases beyond our control. All of the forward-looking
statements are subject to risks and uncertainties that may cause the
company's actual results to differ materially from our expectations,
including risk factors described in the company's annual report on Form
20-F filed with the U.S. Securities and Exchange Commission on May 1,
2017. There are a number of risks and uncertainties that could cause the
company's actual results to differ materially from the forward-looking
statements contained in this press release.