Materialise reports sales increase 14% in third quarter 2024
November 4, 2024
Materialise, Leuven, Belgium, has announced its financial results for the third quarter ending September 30. Total revenue increased 14.2% to €68.65 million, while gross profit as a percentage of revenue was 57.2% versus 56% in Q3 2023.
Adjusted EBIT increased to €4.4M for the third quarter of 2024 from €2.33 million for the 2023 period, while adjusted EBITDA increased to €9.9 million for the third quarter of 2024, up from €7.9 million for the 2023 period. Net profit for the third quarter of 2024 was €3.04 million or €0.05 per diluted share, compared to €4.01 million or €0.07 per diluted share, for the corresponding 2023 period.
“In the third quarter of 2024 Materialise once again delivered strong operational results,” stated Brigitte de Vet-Veithen CEO. “Our consolidated revenue of €68,652k rose more than 14% compared to the same period last year, with increased revenue in all three of our business segments. Materialise Medical posted an especially strong quarter with revenue increasing more than 24%. At the same time, we grew our consolidated Adjusted EBIT by 89% to €4,408k without compromising our continued investments to drive future growth.”
de Vet-Veithen concluded, “The consistently strong operational performance of our business segments throughout the first nine months of this year strengthens our confidence that our full-year 2024 revenues will be within our previously communicated range of €265,000-275,000k. In spite of the integration of the recent FEops acquisition, we are also maintaining our Adjusted EBIT guidance of €11,000-14,000 kEUR for fiscal year 2024.”
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