MTLS Materialise NV

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of October 2023

 

Commission File Number: 001-36515

 

 

Materialise NV

 

 

Technologielaan 15

3001 Leuven

Belgium

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F  x            Form 40-F  ¨

 

 

 

EXHIBIT INDEX

 

Exhibit		Description
99.1		Press Release dated October 26, 2023, Third Quarter 2023 Results
99.2		Press Release dated October 26, 2023, New Chief Executive Officer

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	MATERIALISE NV
	By:	/s/ Wilfried Vancraen
	Name:	Wilfried Vancraen
	Title:	Chief Executive Officer

 

Date: October 26, 2023

 

 

 

Exhibit 99.1

 

Materialise Reports Third Quarter 2023 Results

 

LEUVEN, Belgium--(BUSINESS WIRE)—October 26, 2023 -- Materialise NV (NASDAQ:MTLS), a leading provider of additive manufacturing and medical software and of sophisticated 3D printing services, today announced its financial results for the third quarter ended September 30, 2023.

 

Highlights – Third Quarter 2023

 

	·	Total revenue increased 3.2% to 60,130 kEUR compared to 58,288 kEUR for the third quarter of 2022.
	·	Total deferred revenue from annual software sales and maintenance fees amounted to 40,079 kEUR compared to 42,780 kEUR at December 31, 2022.
	·	Adjusted EBITDA increased 55% to 7,857 kEUR compared to 5,072 kEUR for the corresponding 2022 period.
	·	Net profit for the third quarter of 2023 increased 184% to 4,013 kEUR, or 0.07 EUR per diluted share, compared to 1,413 kEUR, or 0.02 EUR per diluted share, for the corresponding 2022 period.

 

Executive Chairman Peter Leys commented, “Once again, demand for our products and solutions remained solid throughout the third quarter of this year. While uncertain global macro-economic conditions primarily impacted our Materialise Manufacturing segment, Materialise’s consolidated revenue continued to grow, by 3% compared to the same period last year. This strong performance was mainly driven by the continued double-digit revenue increase of our Materialise Medical segment. At the same time, we grew our consolidated Adjusted EBITDA by 55% to 7,857 kEUR through our focus on leveraging scaling effects and cost control, and without compromising on our continued investments in our growth businesses.”

 

Third Quarter 2023 Results

 

Total revenue for the third quarter of 2023 increased 3.2% to 60,130 kEUR from 58,288 kEUR for the third quarter of 2022. Adjusted EBITDA amounted to 7,857 kEUR for the third quarter of 2023, a 55% increase compared to 5,072 kEUR for the corresponding 2022 period. The Adjusted EBITDA margin (Adjusted EBITDA divided by total revenue) for the third quarter of 2023 was 13.1% compared to 8.7% for the third quarter of 2022.

 

Revenue from our Materialise Software segment was 10,811 kEUR for the third quarter of 2023 compared to 10,863 kEUR for the same quarter last year. Segment EBITDA increased significantly to 1,781 kEUR from 202 kEUR while the segment EBITDA margin was 16.5% compared to 1.9% for the corresponding prior-year period.

 

Revenue from our Materialise Medical segment increased by 13.4% to 24,263 kEUR for the third quarter of 2023 compared to 21,391 kEUR for the same period in 2022. Segment EBITDA increased by 50% to 7,143 kEUR for the third quarter of 2023 compared to 4,765 kEUR while the segment EBITDA margin was 29.4% compared to 22.3% for the third quarter of 2022.

 

Revenue from our Materialise Manufacturing segment decreased 3.8% to 25,056 kEUR for the third quarter of 2023 from 26,033 kEUR for the third quarter of 2022. Segment EBITDA amounted to 1,074 kEUR compared to 2,530 kEUR for the same period last year, while the segment EBITDA margin was 4.3% compared to 9.7% for the third quarter of 2022.

 

Gross profit was 33,696 kEUR compared to 32,042 kEUR for the same period last year, while gross profit as a percentage of revenue increased to 56.0% compared to 55.0% for the third quarter of 2022.

 

Research and development (“R&D”), sales and marketing (“S&M”) and general and administrative (“G&A”) expenses decreased, in the aggregate, 4.2% to 32,076 kEUR for the third quarter of 2023 from 33,491 kEUR for the third quarter of 2022.

 

Net other operating income decreased to 710 kEUR from 1,166 kEUR for the third quarter of 2022.

 

Operating result amounted to 2,330 kEUR compared to (282) kEUR for the third quarter of 2022.

 

Net financial result was 1,319 kEUR compared to 2,173 kEUR for the third quarter of 2022.

 

The third quarter of 2023 contained income tax results of 363 kEUR compared to (478) kEUR in the third quarter of 2022.

 

As a result of the above, net profit for the third quarter of 2023 was 4,013 kEUR, compared to 1,413 kEUR for the same period in 2022. Total comprehensive income for the third quarter of 2023, which includes exchange differences on translation of foreign operations, was 3,242 kEUR compared to 1,638 kEUR for the corresponding 2022 period.

 

 

At September 30, 2023, we had cash and cash equivalents of 133,953 kEUR, compared to 140,867 kEUR at December 31, 2022. Gross debt amounted to 66,222 kEUR compared to 80,980 kEUR at December 31, 2022. As a result, our net cash position (cash and cash equivalents less gross debt) was 67,731 kEUR compared to 59,887 kEUR at December 31, 2022.

 

Cash flow from operating activities for the third quarter of the year 2023 was 8,143 kEUR, compared to 3,840 kEUR for the same period in 2022. Total capital expenditures for the third quarter of 2023 amounted to 3,920 kEUR.

 

Net shareholders’ equity at September 30, 2023 was 236,631 kEUR compared to 228,928 kEUR at December 31, 2022.

 

2023 Guidance

 

Mr. Leys concluded, “The revenue growth posted by each of our business segments during the first nine months of this year strengthens our confidence that our full-year 2023 revenues will be, in spite of the challenging macro-economic circumstances, well within our previously communicated range of 255,000 kEUR to 260,000 kEUR. At the same time, we are maintaining our Adjusted EBITDA guidance of between 28,000 kEUR and 33,000 kEUR for fiscal year 2023.”

 

Non-IFRS Measures

 

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 profit or loss in a joint venture and depreciation and amortization. Adjusted EBITDA is determined by adding share-based compensation expenses, acquisition-related expenses of business combinations, impairments and revaluation of fair value due to 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.

 

Exchange Rate

 

This document 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 document were made at a rate of EUR 1.00 to USD 1.0594, the reference rate of the European Central Bank on September 30, 2023.

 

Conference Call and Webcast

 

Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the third quarter of 2023 on Thursday, October 26, 2023, 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 Koen Berges, Chief Financial Officer. A question-and-answer session will follow management’s remarks.

 

	·	To access the conference call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or to receive a call to connect to Materialise’s conference call.
	·	https://register.vevent.com/register/BI67b272ddef5b405d8f5d004208bd450f

 

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.

 

About Materialise

 

Materialise incorporates 30 years of 3D printing experience into a range of software solutions and 3D printing services, which 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, our estimates for the current fiscal year’s revenue and Adjusted EBITDA, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, growth and strategies (including how our business, results of operations and financial condition could be impacted by the current armed conflicts in Israel and Ukraine and governmental responses thereto, inflation, increased labor, energy and materials costs), 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 most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. 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.

 

The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information.

 

 

Consolidated income statements (Unaudited)

 

		for the three months ended September 30,												for the nine months ended September 30,
In '000		2023				2023				2022				2023				2022
		U.S.$				€				€				€				€
Revenue			63,702				60,130				58,288				190,832				169,319
Cost of Sales			(28,005	)			(26,435	)			(26,245	)			(83,249	)			(76,236	)
Gross Profit			35,697				33,696				32,042				107,583				93,083
Gross profit as % of revenue			56.0	%			56.0	%			55.0	%			56.4	%			55.0	%
Research and development expenses			(10,039	)			(9,476	)			(9,313	)			(27,982	)			(26,074	)
Sales and marketing expenses			(14,789	)			(13,960	)			(15,198	)			(42,418	)			(44,841	)
General and administrative expenses			(9,153	)			(8,640	)			(8,980	)			(27,213	)			(26,089	)
Net other operating income (expenses)			753				710				1,166				(3,238	)			2,603
Operating (loss) profit			2,469				2,330				(282	)			6,732				(1,318	)
Financial expenses			(1,646	)			(1,554	)			(2,110	)			(3,599	)			(4,671	)
Financial income			3,043				2,873				4,283				4,987				9,800
Share in loss of joint venture			-				-				-				-				-
(Loss) profit before taxes			3,866				3,649				1,891				8,120				3,812
Income Taxes			385				363				(478	)			(886	)			(1,377	)
Net (loss) profit for the period			4,251				4,013				1,413				7,234				2,435
Net (loss) profit attributable to:			-
The owners of the parent			4,256				4,017				1,421				7,251				2,457
Non-controlling interest			(5	)			(5	)			(8	)			(17	)			(21	)
Earning per share attributable to owners of the parent
Basic			0.07				0.07				0.02				0.12				0.04
Diluted			0.07				0.07				0.02				0.12				0.04
Weighted average basic shares outstanding			59,067				59,067				59,064				59,067				59,064
Weighted average diluted shares outstanding			59,068				59,068				59,089				59,070				59,099

 

 

Consolidated statements of comprehensive income (Unaudited)

 

		for the three months ended September 30,												for the nine months ended September 30,
In 000€		2023				2023				2022				2023				2022
		U.S.$				€				€				€				€
Net profit (loss) for the period			4,251				4,013				1,413				7,234				2,435
Other comprehensive income
Recycling
Exchange difference on translation of foreign operations			(816	)			(770	)			225				471				1,291
Non-recycling
Fair value adjustments through OCI - Equity instruments			-				-				-				-				-
Other comprehensive income (loss), net of taxes			(816	)			(770	)			225				471				1,291
Total comprehensive income (loss) for the year, net of taxes			3,435				3,242				1,638				7,705				3,726
Total comprehensive income (loss) attributable to:
The owners of the parent			3,441				3,248				1,646				7,721				3,748
Non-controlling interests			(6	)			(5	)			(8	)			(15	)			(21	)

 

 

Consolidated statement of financial position (Unaudited)

 

		As of September 30,				As of December 31,
In 000€		2023				2022
Assets
Non-current assets
Goodwill			44,280				44,155
Intangible assets			35,592				37,875
Property, plant & equipment			94,399				94,276
Right-of-Use assets			7,668				8,420
Investments in joint ventures			-				-
Deferred tax assets			2,031				1,186
Investments in convertible loans			3,681				3,494
Investments in non-listed equity instruments			307				307
Other non-current assets			5,213				5,136
Total non-current assets			193,170				194,847
Current assets
Inventories			16,764				16,081
Trade receivables			41,998				51,043
Other current assets			8,107				8,424
Cash and cash equivalents			133,953				140,867
Total current assets			200,821				216,414
Total assets			393,991				411,262

 

 

		As of September 30,				As of December 31,
In 000€		2023				2022
Equity and liabilities
Equity
Share capital			4,487				4,487
Share premium			233,895				233,895
Retained earnings and other reserves			(1,708	)			(9,427	)
Equity attributable to the owners of the parent			236,674				228,955
Non-controlling interest			(43	)			(28	)
Total equity			236,631				228,928
Non-current liabilities
Loans & borrowings			45,204				55,873
Lease liabilities			5,053				5,147
Deferred tax liabilities			3,786				4,312
Deferred income			8,533				9,277
Other non-current liabilities			1,185				1,611
Total non-current liabilities			63,761				76,220
Current liabilities
Loans & borrowings			13,491				17,058
Lease liabilities			2,474				2,902
Trade payables			20,799				23,230
Tax payables			2,273				1,246
Deferred income			37,940				41,721
Other current liabilities			16,622				19,957
Total current liabilities			93,599				106,114
Total equity and liabilities			393,991				411,262

 

 

Consolidated statement of cash flows (Unaudited)

 

		for the nine months ended September 30,
In 000€		2023				2022
Operating activities
Net (loss) profit for the period			7,234				2,435
Non-cash and operational adjustments
Depreciation of property plant & equipment			11,162				11,335
Amortization of intangible assets			5,046				4,859
Impairment of goodwill and intangible assets			-				-
Share-based payment expense			-				(121	)
Loss (gain) on disposal of intangible assets and property, plant & equipment			(401	)			59
Movement in provisions			(434	)			(506	)
Movement reserve for bad debt and slow moving inventory			445				(42	)
Financial income			(4,811	)			(9,771	)
Financial expense			3,389				5,009
Impact of foreign currencies			(152	)			98
(Deferred) income taxes			892				1,384
Working capital adjustments			(3,601	)			9,109
Decrease (increase) in trade receivables and other receivables			8,965				(184	)
Decrease (increase) in inventories and contracts in progress			(751	)			(4,356	)
Increase (decrease) in deferred revenue			(4,532	)			3,815
Increase (decrease) in trade payables and other payables			(7,283	)			9,834
Income tax paid & Interest received			1,194				(262	)
Net cash flow from operating activities			19,963				23,587

 

 

		for the nine months ended September 30,
In 000€		2023				2022
Investing activities
Purchase of property, plant & equipment			(6,862	)			(16,066	)
Purchase of intangible assets			(2,448	)			(3,422	)
Proceeds from the sale of property, plant & equipment & intangible assets (net)			645				319
Acquisition of subsidiary (net of cash)			-				(29,355	)
Net cash flow used in investing activities			(8,665	)			(48,523	)
Financing activities
Repayment of loans & borrowings			(14,334	)			(15,182	)
Repayment of leases			(2,640	)			(2,566	)
Capital increase			-				-
Interest paid			(1,334	)			(1,665	)
Other financial income (expense)			(25	)			1,378
Net cash flow from (used in) financing activities			(18,334	)			(18,035	)
Net increase/(decrease) of cash & cash equivalents			(7,037	)			(42,972	)
Cash & Cash equivalents at the beginning of the year			140,867				196,028
Exchange rate differences on cash & cash equivalents			123				(2,433	)
Cash & cash equivalents at end of the period			133,953				150,621

 

 

Reconciliation of Net Profit (Loss) to EBITDA and Adjusted EBITDA (Unaudited)

 

		for the three months ended September 30,								for the nine months ended September 30,
In 000€		2023				2022				2023				2022
Net profit (loss) for the period			4,013				1,413				7,234				2,435
Income taxes			(363	)			478				886				1,377
Financial expenses			1,554				2,110				3,599				4,671
Financial income			(2,873	)			(4,283	)			(4,987	)			(9,800	)
Depreciation and amortization			5,527				5,378				16,191				16,194
EBITDA			7,857				5,096				22,923				14,876
Share-based compensation expense (1)			-				(24	)			-				(121	)
Adjusted EBITDA			7,857				5,072				22,923				14,755

 

(1) Share-based compensation expense represents the cost of equity-settled and share-based payments to employees.

 

 

Segment P&L (Unaudited)

 

In 000€		Materialise Software				Materialise Medical				Materialise Manufacturing				Total segments				Unallocated (1)				Consolidated
For the three months ended September 30, 2023
Revenues			10,811				24,263				25,056				60,130				0				60,130
Segment (adj) EBITDA			1,781				7,143				1,074				9,998				(2,141	)			7,857
Segment (adj) EBITDA %			16.5	%			29.4	%			4.3	%			16.6	%							13.1	%
For the three months ended September 30, 2022
Revenues			10,863				21,391				26,033				58,288				0				58,288
Segment (adj) EBITDA			202				4,765				2,530				7,497				(2,425	)			5,072
Segment (adj) EBITDA %			1.9	%			22.3	%			9.7	%			12.9	%							8.7	%

 

In 000€		Materialise Software				Materialise Medical				Materialise Manufacturing				Total segments				Unallocated (1)				Consolidated
For the nine months ended September 30, 2023
Revenues			33,192				73,528				84,112				190,832				0				190,832
Segment (adj) EBITDA			6,190				17,179				6,980				30,349				(7,426	)			22,923
Segment (adj) EBITDA %			18.7	%			23.4	%			8.3	%			15.9	%							12.0	%
For the nine months ended September 30, 2022
Revenues			31,989				60,592				76,739				169,319				0				169,319
Segment (adj) EBITDA			2,955				12,466				6,722				22,144				(7,388	)			14,755
Segment (adj) EBITDA %			9.2	%			20.6	%			8.8	%			13.1	%							8.7	%

 

(1)  Unallocated segment adjusted EBITDA consists of corporate research and development and corporate other operating income (expense), and the added share-based compensation expenses, acquisition related expenses of business combinations, impairments and fair value of business combinations that are included in Adjusted EBITDA.

 

 

Reconciliation of Net Profit (Loss) to Segment adjusted EBITDA (Unaudited)

 

		for the three months ended September 30,								for the nine months ended September 30,
In 000€		2023				2022				2023				2022
Net profit (loss) for the period			4,013				1,413				7,234				2,435
Income taxes			(363	)			478				886				1,377
Financial cost			1,554				2,110				3,599				4,671
Financial income			(2,873	)			(4,283	)			(4,987	)			(9,800	)
Operating (loss) profit			2,330				(282	)			6,732				(1,318	)
Depreciation and amortization			5,527				5,378				16,191				16,194
Corporate research and development			604				592				2,063				2,057
Corporate headquarter costs			2,399				2,491				7,636				7,103
Other operating income (expense)			(862	)			(681	)			(2,274	)			(1,892	)
Segment adjusted EBITDA			9,998				7,497				30,349				22,144

 

 

 

Exhibit 99.2

 

3D Printing Pioneer Materialise Appoints Brigitte de Vet-Veithen as New CEO

 

Fried Vancraen, Co-founder and CEO, to become Chairman of the Board

 

LEUVEN, Belgium, October 26, 2023 — Materialise NV (NASDAQ:MTLS), a global leader in 3D printing software and services, today announced that the company’s Board of Directors has appointed Brigitte de Vet-Veithen as Chief Executive Officer. Brigitte de Vet-Veithen will succeed Fried Vancraen, who co-founded Materialise in 1990 and has served as the company’s CEO for 33 years. Mr. Vancraen will continue to represent Materialise as the new Chairman of the Board of Directors. The leadership transition will become effective on January 1, 2024, as part of the management changes described below.

 

“We founded Materialise with a mission to create a better and healthier world,” said Mr. Vancraen. “Thirty-three years later, the company has reached an ideal point to bring in new leadership to take us into the future. This transition represents an evolution of leadership, not a departure. I am proud of what we have accomplished through our efforts to improve and save patient lives and to advance the industrial production process with innovative 3D printing solutions. Brigitte has the perfect combination of internal and external experience and has demonstrated a deep commitment to Materialise’s mission and its people. I cannot think of a better person than Brigitte to lead Materialise and to help shape our industry going forward.”

 

Brigitte de Vet-Veithen is a seasoned business leader with over 30 years of experience across multiple industries. She joined Materialise in 2016 and is currently Executive Vice President of Materialise Medical, which develops software and 3D printing solutions that help improve patient outcomes. Under her leadership, the medical segment grew to become the company’s fastest-growing and most profitable business segment.

 

“It will be an honor to lead Materialise, a company that helped create and continues to shape the 3D printing industry,” Mrs. de Vet-Veithen said. “As we take this step, I celebrate our roots as 3D printing pioneers, but I am even more excited about our role as pioneers of tomorrow’s possibilities. As 3D printing establishes itself as an essential tool in the production toolbox, Materialise is ideally positioned to capitalize on the tremendous opportunities ahead and to continue driving the growth of our industry.”

 

Before joining Materialise, Mrs. de Vet-Veithen held various senior management roles at Johnson & Johnson. She was a consultant in the technology industry and led several companies through growth and transformation, including in her role as CEO of Acertys Group. She holds a Master of Business Administration with a Major in Engineering from HEC Liege and an MBA from INSEAD.

 

Mr. Vancraen and Mrs. Ingelaere founded Materialise in 1990 with a revolutionary idea to develop 3D printing solutions to solve real-world challenges across a wide range of industries. More than three decades later, Materialise is active in 20 countries, combining the largest group of software developers in the industry with one of the world's largest 3D printing facilities. Materialise became a publicly traded company in 2014 and remains the only Belgian technology company that trades on Nasdaq.

 

As of January 1, 2024, Mr. Vancraen will continue to provide strategic direction to Materialise and will represent the company as non-executive Chairman of the Board of Directors. In this new role, he will succeed Peter Leys, who has been the Executive Chairman of the Board for 10 years and will continue as a member of the Board. Further, as of January 1, 2024, co-founder Mrs. Ingelaere will step back from her role as Executive Vice President and will focus on her activities as a Board member. Materialise’s Executive Committee will continue its strategic and operational role under the new presidency of Mrs. de Vet-Veithen.

 

 

About Materialise

 

Materialise incorporates more than three decades of 3D printing experience into a range of software solutions and 3D printing services that empower sustainable 3D printing applications. Our open, secure, and flexible end-to-end solutions enable flexible industrial manufacturing and mass personalization in various industries — including healthcare, automotive, aerospace, eyewear, art and design, wearables, and consumer goods. Headquartered in Belgium and with branches worldwide, Materialise combines the largest group of software developers in the industry with one of the world's largest and most complete 3D printing facilities. For additional information, please visit www.materialise.com

 

For photos, please visit:  https://mtls.am/corporate

 

Press contact:

 

Materialise

Kristof Sehmke

Email: Kristof.sehmke@materialise.be

Or press@materialise.com

Twitter: @MaterialiseNV

Visit: www.materialise.com

 

 

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