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 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.
Exchange Rate
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 1.145, the reference rate of the European Central Bank on December 31, 2018.
Conference Call and Webcast
Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the fourth quarter of 2018 on the same day, Wednesday, March 6, 2019, 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 #8884671. 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 more than 25 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, current estimates
of fiscal 2019 revenues, deferred revenue from annual licenses and
maintenance and Adjusted EBITDA, our expectations regarding fiscal 2019
sales, Adjusted EBITDA margin and investments, results of operations,
cash needs, capital expenditures, expenses, financial condition,
liquidity, prospects, growth and strategies (including our strategic
priorities for 2019), 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 April 30, 2018. 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.
