Materialise NV (NASDAQ:MTLS) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 08:30 am ET


Materialise NV (NASDAQ:MTLS) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen, and welcome to the Second Quarter 2020 Materialise Financial Results Conference Call. [Operator Instructions]

I would now like to turn the call over to your host, Ms. Harriet Fried. Please go ahead.

Harriet Fried

Good morning, and thank you for joining us for Materialise's quarterly conference call. With us on the call are Fried Vancraen, Founder and Chief Executive Officer of Materialise; Peter Leys, Executive Chairman and Johan Albrecht, Chief Financial Officer. Today's call and webcast are being accompanied by a slide presentation that reviews Materialise's performance for the second quarter of 2020. To access the slides, please go to the Investor Relations section of the company's website. The earnings release that was issued earlier today can also be found on that page.

Before we begin, I would like to remind you that management may make forward-looking statements regarding the company's plans, expectations and growth prospects, among other things. These forward-looking statements are subject to known and unknown uncertainties and risks that could cause actual results to differ materially from the expectations expressed. Any forward-looking statements, including those related to the company's future results and activity, represent management's estimates as of today and should not be relied upon as representing their estimates as of any subsequent day.

Management disclaims any duty to update or revise any forward-looking statements to reflect future events or changes in expectations. A more detailed description of the risks and uncertainties and other factors that may impact the company's future business or financial results can be found in the company's most recent annual report on Form 20-F filed with the SEC. Finally, management will discuss certain non-IFRS measures on today's call. A reconciliation table is contained in the earnings release and at the end of the slide presentation.

With that introduction, I'd like to turn the call over to Peter Leys. Peter?

Peter Leys

Thank you, Harriet, and thank you everyone for joining us today. You will find an agenda for our call on Slide number 3. I will begin with a brief recap of our results for the quarter. Then as usual, Fried will give you an overview of some of the new products and projects that we have launched during and in spite of these challenging times. After that, Johan will go through our second quarter numbers in more detail. And finally, I will come back to give you some qualitative insights into what we believe the third quarter of this year may bring. When we have completed our prepared remarks, we will be happy to respond to any questions that you may have.

So turning to Slide 4, you will see the highlights of our second quarter results. In the second quarter of 2020, all of our business units worldwide were significantly impacted by the corona crisis. Our revenue decreased EUR10.3 million to EUR38.1 million, while Adjusted EBITDA declined EUR1.7 million to EUR3.4 million. Cash flow from operating activities for the second quarter of 2020 was a strong EUR7 million compared to EUR4.7