Materialise NV Q1 2023 Earnings Call
Speaker 1: You you F.
Speaker 1: Okay flooding. Alright
Speaker 2: conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question, during the session you will need to press star 1 1 on your telephone. You will then hear an automated message advising that your hand is raised.
Speaker 2: To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded.
Speaker 2: I would now like to hand the conference over to your speaker today, Harriet Beat of LHA. Please go ahead.
Speaker 3: Thank you everyone for joining us today for Materialize's quarterly conference call. With us on the call are Fried Van Kran, founder and chief executive officer of Materialize, Peter Lays, executive chairman, and Johan Albrecht, chief financial officer.
Speaker 3: Today's call and webcast are being accompanied by a slide presentation that reviews materializes strategic financial and operational performance for the first quarter of 2023.
Speaker 3: To access the slides if you haven't already done so, please go to the investor relations section of the company's website at www.materialized.com. The earnings release that was issued earlier today can also be found on that page.
Speaker 3: Before we get started, I'd like to remind you that management may make forward-looking statements regarding the company's plans, expectations, and growth prospects among other things.
Speaker 3: These forward-looking statements are subject to known and unknown uncertainties and risks.
Speaker 3: that could cause actual results to differ materially from the expectations expressed, including competitive dynamics and industry change.
Speaker 3: Any forward-looking statements, including those related to the company's future results and activities, represent management's estimates as of today and should not be relied upon as representing their estimates as of any subsequent date. Management disclaims any duty to update or revise any forward-looking statements.
Speaker 3: reflect future events or changes in expectations. A more detailed description of the risks and uncertainties and other factors that could impact the company's future business or financial results can be found in the company's most recent annual report on form 20 as filed with the SEC.
Speaker 3: Finally, management will discuss certain non-IAPRS measures on today's call. A reconciliation table is contained in the earnings release and also at the end of the slide presentation.
Speaker 3: With that introduction, I'd like to turn the call over to Peter Laise. Go ahead, please, Peter.
Speaker 3: introduction, I'd like to turn the call over to Peter Laise. Go ahead, please, Peter. Thank you, Harriet.
Speaker 4: And thank you everyone for joining us today. You can find as always the agenda for our call on slide three.
Speaker 4: As a first item on our agenda, I will summarize the highlights of our financial results for the first quarter of this year, and then I will pass the floor to Fridt, who will give you some more context about how continuous innovation in value-adding applications is creating robust growth.
Speaker 4: After that, Johan will walk you through our first quarter numbers in more detail.
Speaker 4: Subsequently, I will come back to give you some brief observations about our current view on what the near term future will bring.
Speaker 4: When we've completed our prepared remarks, we'll be happy as always to respond to questions. And finally, after the Q&A session, Johan in-sreet will briefly discuss the CFO change that we have announced earlier today.
Speaker 4: completed our prepared remarks will be happy as always to respond to questions. And finally, after the Q&A session, Johan and Feet will briefly discuss the CFO change that we have announced earlier today. So...
Speaker 4: Let's turn to slide number 4, which summarizes the highlights of our financial results.
Speaker 4: Materialized performed extremely well in the first quarter of this year. Total revenues increased more than 24% to almost 66 million euro.
Speaker 4: boosted by a 33% revenue growth at materialized medical and a 25% revenue increase at materialized manufacturing.
Speaker 4: Materialized software also contributed to our consolidated top line growth with a solid revenue uptake of more than 8%.
Speaker 4: Mainly because of scaling effects, but also because of the disciplined management of the impact of inflation.
Speaker 4: and because of certain cost containment measures
Speaker 4: Our adjusted EBITDA increased by almost 90% to 10.3 million euro.
Speaker 4: While our R&D efforts during the quarter grew by 15% compared to last year's first quarter, the temporary slowdown of certain projects during the period also contributed to the exceptional suggested EBITDA growth.