Materialise NV Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>Materialise NV submitted its 2023 20-F annual report, detailing financial performance and corporate structure.</b>

AI Summary

MATERIALISE NV (MTLS) filed a Foreign Annual Report (20-F) with the SEC on April 12, 2024. Materialise NV filed its annual report on Form 20-F for the fiscal year ending December 31, 2023. The filing covers financial data and business operations for the period. Key financial statement items such as machinery, land and buildings, and intangible assets are detailed. The report includes information on various subsidiaries and their financial status as of December 31, 2023. Deferred tax and unused tax losses are also reported for the years 2021 and 2022.

Why It Matters

For investors and stakeholders tracking MATERIALISE NV, this filing contains several important signals. This filing provides investors and stakeholders with a comprehensive overview of Materialise NV's financial health and operational status for the fiscal year 2023. The detailed breakdown of assets, liabilities, and subsidiary information is crucial for understanding the company's market position and future prospects.

Risk Assessment

Risk Level: — MATERIALISE NV shows moderate risk based on this filing. The filing is a standard annual report (20-F), which typically contains a broad range of financial and operational information, but lacks specific forward-looking guidance or immediate financial performance highlights that would indicate a strong bullish or bearish sentiment.

Analyst Insight

Review the detailed financial statements and segment information within the 20-F to assess Materialise NV's performance and identify potential investment opportunities or risks.

Key Numbers

• 2023-12-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-04-12 — Filing Date (Filed as Date)

Key Players & Entities

• MATERIALISE NV (company) — Filer
• 20231231 (date) — Conformed Period of Report
• 20240412 (date) — Filed as Date
• TECHNOLOGIELAAN 15 (address) — Business Address Street 1
• 3001 LEVUEN (address) — Business Address City
• BELGIUM (location) — Business Address State

FAQ

Industry Context

Materialise NV operates in the software and services sector, specifically focusing on 3D printing and medical software solutions.

Regulatory Implications

As a foreign private issuer, Materialise NV is subject to SEC regulations, including the filing of annual reports on Form 20-F.

What Investors Should Do

1. Analyze the consolidated financial statements for the year ended December 31, 2023.
2. Review the list of subsidiaries and their financial reporting status.
3. Examine disclosures related to intangible assets and deferred taxes.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational data compared to previous filings.

Filing Documents

• mtls-20231231x20f.htm (20-F) — 5675KB
• mtls-20231231xex4d5.htm (EX-4.5) — 70KB
• mtls-20231231xex8d1.htm (EX-8.1) — 18KB
• mtls-20231231xex12d1.htm (EX-12.1) — 16KB
• mtls-20231231xex12d2.htm (EX-12.2) — 16KB
• mtls-20231231xex13d1.htm (EX-13.1) — 8KB
• mtls-20231231xex13d2.htm (EX-13.2) — 9KB
• mtls-20231231xex23d1.htm (EX-23.1) — 6KB
• mtls-20231231xex97d1.htm (EX-97.1) — 69KB
• mtls-20231231x20f002.jpg (GRAPHIC) — 85KB
• 0001104659-24-046531.txt (&nbsp;) — 24218KB
• mtls-20231231.xsd (EX-101.SCH) — 198KB
• mtls-20231231_cal.xml (EX-101.CAL) — 84KB
• mtls-20231231_def.xml (EX-101.DEF) — 498KB
• mtls-20231231_lab.xml (EX-101.LAB) — 1111KB
• mtls-20231231_pre.xml (EX-101.PRE) — 879KB
• mtls-20231231x20f_htm.xml (XML) — 6104KB

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 99 ITEM 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 101 ITEM 13. Defaults, Dividend Arrearages and Delinquencies 103 ITEM 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 103 ITEM 15.

Controls and Procedures

Controls and Procedures 103 ITEM 16A. Audit Committee Financial Expert 104 ITEM 16B. Code Of Ethics 104 ITEM 16C. Principal Accountant Fees and Services 104 ITEM 16D. Exemptions from the Listing Standards for Audit Committees 105 ITEM 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 105 ITEM 16F. Change in Registrant's Certifying Accountant 105 ITEM 16G. Corporate Governance 105 ITEM 16H. Mine Safety Disclosure 106 ITEM 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 106 ITEM 16J . Insider Trading Policies 106 ITEM 16K . Cybersecurity 107 ITEM 17.

Financial Statements

Financial Statements 109 ITEM 18.

Financial Statements

Financial Statements 109 ITEM 19. Exhibits 109 Table of Contents INTRODUCTION Except as otherwise required by the context, references to (i) "Materialise," "Company," "we," "us" and "our" are to Materialise NV and its subsidiaries, (ii) "ACTech" are to ACTech Holding GmbH and its subsidiaries, which we acquired in 2017, (iii) "Engimplan" are to Engimplan Engenharia De Implante Indstria E Comrcio Ltda., in which we acquired a controlling interest in 2019 and in which we acquired the remaining interest in 2020, making us Engimplan's sole shareholder (through our Brazilian subsidiary), (iv) "Materialise Motion" are to Materialise Motion NV, a joint venture we established in 2014 under the name "RSPrint Powered by Materialise" NV and in which we acquired the remaining interest in 2020, together with substantially all of the assets of RSScan International NV, or RS Scan, making us Materialise Motion's sole shareholder, (v) "Link3D" are to Link3D Inc., which we acquired an option to buy in 2021, which we exercised in 2022, and which we subsequently merged into our U.S. subsidiary, Materialise USA, LLC, and (vi) "Identify3D" are to Identify3D, Inc., which we acquired in 2022 and subsequently merged into Materialise USA, LLC. Our trademark portfolio contained 185 registered trademarks and 3 pending trademark application as of December 31, 2023. All other trademarks or trade names referred to in this annual report are the property of their respective owners. Solely for convenience, the trademarks and trade names in this annual report are referred to without the and symbols, but such references should not be construed as any indicator that their respective owners will not assert, to the fullest extent under applicable law, their rights thereto. All references in this annual report to "U.S. dollars" or "$" are to the legal currency of the United States and all references to "" or "euro" are to the currency introduced at the start of the third stage of the Europea

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable. ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. [Reserved] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors Summary of Risk Factors Risks Relating to Our Business We may not be able to maintain or increase the market share or reputation of our software and other products and services that they need to remain or become a market standard. We may not be successful in continuing to enhance and adapt our software, products and services in line with developments in market technologies and demands. The research and development programs that we are currently engaged in, or that we may establish in the future, may not be successful and our significant investments in these programs may be lost. Existing and increased competition may reduce our revenue and profits. We rely on collaborations with users of our additive manufacturing and related solutions to be present in certain large-scale markets and, indirectly, to expand into potentially high-growth specialty markets. Our inability to continue to develop or maintain these relationships in the future could harm our ability to remain competitive in existing markets and expand into other markets. Our revenue and results of operations may fluctuate. Inflation has had and may continue to have an adverse effect on our results. Demand for additive manufacturing generally and our additive manufacturing software solutions, products and services in particular may not increase adequately, or at all. We are dependent upon sales to certain industries. If our relationships with suppliers, including with limited source suppliers of consumables, were to terminate or our manufacturing arrangements were to be disrupted, our business could be adversely affected. 3 Table of Contents The dominant software subscription model in the industrial sector is changing, and we may not be successful in developing and deploying a cloud-based platform to offer our softwa

View Full Filing

View this 20-F filing on SEC EDGAR