Materialise NV MTLS 2026年第二季度财报电话会议纪要

发布时间：2026-08-27 一、AI总结内容 一、核心要点 1. 2026年Q2公司合并营收7010万欧元，同比增长8%；医疗部门营收同比增12%，为主要增长引擎，制造部门增7%，软件部门增3%。2. Q2调整后EBIT达390万欧元，同比提升，上半年累计调整后EBIT达640万欧元，超出2025年同期。3. 公司上调2026年全年调整后EBIT指引至1200-1400万欧元，原指引为1000-1200万欧元，确认营收指引2.73-2.83亿欧元。 二、业务与战略进展 1. 医疗领域：Q2营收增12%，设备服务增19%，软件营收降4%，因美国学术客户研究经费减少；布局个性化治疗，投资比利时生物3D打印初创企业Replasia，拓展全周期骨科解决方案。 2. 软件产品：发布云平台Coem Pro（含AI与数据管理）、自动化平台GoE，开展Coem、NPI、企业版的早期用户计划，推进订阅模式转型，Q2软件 recurring收入占比达86%。3. 制造板块：完成RapidFit、IR业务分拆，保留IR 20% minority stake；航空航天与国防领域表现亮眼，Q2航空结构件项目获认证，比利时网络国防部队选用其技术开展数字供应链项目。 三、风险与关注 1. 宏观环境导致工业客户软件采购谨慎，销售周期延长，压制软件营收增速。2. 2025年美国学术客户研究经费削减，影响医疗软件需求，相关影响或持续。 四、后续计划 1. 9月完成管理层调整，任命首席人力资源官与首席数字信息官，强化核心业务团队。2. 依托医疗部门30周年机遇，深化临床合作，推进个性化医疗3D打印的临床应用与营收增长。 二、音频原文（转写） And capital. This concludes our pdf remarks. Operator, we are now ready to open the call to questions. Thank you. As a reminder, if you'd like to ask a question, please press star 11. If yourquestion hasn't answered and you'd like to remove yourself from the queue, please press star 11again. Our first question comes from alexander craymiers with capital chevrouw. Your line is open. Hey. Good afternoon, thank you for taking myquestion. So the first one would be on medical,so we saw a reacceleration to twelve percent year on year growth in Q two, and that came after t hat Q soft Q one. So I'm wondering what changedsequentially, and can we hold up this double-digit growth? I know that's targeted, but how's like can we expect it to be sustained in H two and also in twenty twenty seven perhaps?And then maybe. Relatedquestion on this would be if I look at the underlying drivers, we see medical software. down 5%. and then devices and services increasing line.nineteen percent. So the question on this is, and how do we need to look at this? Is this basically less customers trying to makethe design themselves and open to outsource thedesign service to you and hence there is less need for software. So that's. the question on medical. Then the second question I have. it would be on basically 2026 EBIT guidance, you know, youguys for 12 to 14 million euros in EBIT. Of course, you already delivered 6.4 million in the first half So the past budget cycles always gave you stronger Q4. especially in software Is it safe to assume that you don't expect the same budget cycle to happen this year? and giving you guidance. Um, I will stick to these two, thanks. 嗯。Good afternoon, Alec. And thanks for your questions. I'll kick us off with a question on medical. So 嗯 I have previously always said that the structural growth rate for medical is double digit but lower than digit. So reasonably a sustainable growth number that I wouldexpect for medical is around 15%. which is essentially what you see for the first. half of thisyear. And that investment is sustainable. and And of course, there can be quarter for quarter differences, which again, what you see is the oneissue, two numbers. and actually has to do witha couple of timing impacts. Now your question onthe underlying drivers. and So we do indeed see softer software revenue. a stronger device andservice revenue. There's a couple of elements that explain that. One of the primary elements ison the software side. we have an academic segment that we serve. and in particular in the U.S. So that was our academic centers. They use our software to train their students, but also to do research based on all products and products. In the U.S., in particular, research grants have been reduced for the last year. And we see the impact of that in our corporate deals. and. um, Thatwe um uh serve with our software portfolio, butnot with our device and service uh portfolio. So that's a structural difference between um those two segments. The second aspect that we need to take into account is the domains in which we are playing and in which our we are. is used, which are slightly different. from the market segments in which the device and services are positioned and are used. And of course, these differentmarket segments and then I talk about the noncommittal areas, they are subject to different trends in reimbursement and also affordability. Andour Tocca products historically have been positioned a little more very strongly on the orthopedic side, which is. again, in particular in theU.S. the segment reimbursement changes have ledto a bit more cautiousness from our customers' advice and that's what we feel in our software revenue. So those are the underlying drivers thatdifferentiate our software segment from our device and services segment. And I'll hand it over for. to tackle your second question on the 2026 EBIT guidance. and the fact that you mentioned that we already delivered 6.4 million in the firsthalf of the year. Alexander in. Good afternoonto have today. to answer that question. I thinkindeed, what we've been able to demonstrate thefirst half of this year, I think that we have been able to. improve our profitability and express that EBIT or EBITDA percentage. we believ