voxeljet AG Reports Financial Results for the First Quarter Ended March 31, 2021

The Company uses Adjusted EBITDA as a supplemental financial measure of its financial performance. Adjusted EBITDA is defined as net income (loss), as calculated under IFRS accounting principles, interest (income) expense, provision (benefit) for income taxes, depreciation and amortization, and excluding other (income) expense resulting from foreign exchange gains or losses on the intercompany loans granted to the subsidiaries. Management believes Adjusted EBITDA to be an important financial measure because it excludes the effects of fluctuating foreign exchange gains or losses on the intercompany loans granted to its subsidiaries. We are unable to reasonably estimate the potential full-year financial impact of foreign currency translation because of volatility in foreign exchange rates. Therefore, we are unable to provide a reconciliation to our forward-looking guidance for non-GAAP Adjusted EBITDA without unreasonable effort as certain information necessary to calculate such measure on an IFRS basis is unavailable, dependent on future events outside of our control and cannot be predicted without unreasonable efforts by the Company.

About voxeljet

voxeljet is a provider of high-speed, large-format 3D printers and on-demand parts services to industrial and commercial customers. The Company’s 3D printers employ a powder binding, additive manufacturing technology to produce parts using various material sets, which consist of particulate materials and proprietary chemical binding agents. The Company provides its 3D printers and on-demand parts services to industrial and commercial customers serving the automotive, aerospace, film and entertainment, art and architecture, engineering and consumer product end markets. For more information, visit http://www.voxeljet.de/en/.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements concerning our business, operations and financial performance. Any statements that are not of historical facts may be deemed to be forward-looking statements. You can identify these forward-looking statements by words such as ‘‘believes,’’ ‘‘estimates,’’ ‘‘anticipates,’’ ‘‘expects,’’ ‘‘projects,’’ ‘‘plans,’’ ‘‘intends,’’ ‘‘may,’’ ‘‘could,’’ ‘‘might,’’ ‘‘will,’’ ‘‘should,’’ ‘‘aims,’’ or other similar expressions that convey uncertainty of future events or outcomes. Forward-looking statements include statements regarding our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations concerning, among other things, our results of operations, financial condition, business outlook, the industry in which we operate and the trends that may affect the industry or us. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance. All of our forward-looking statements are subject to known and unknown risks, uncertainties and other factors that are in some cases beyond our control and that may cause our actual results to differ materially from our expectations, including those risks identified under the caption “Risk Factors” in the Company’s Annual Report on Form 20-F and in other reports the Company files with the U.S. Securities and Exchange Commission, as well as the risk that our revenues may fall short of the guidance we have provided in this press release. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements for any reason after the date of this press release whether as a result of new information, future events or otherwise.

voxeljet AG

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

 

 

Notes

 

3/31/2021

 

12/31/2020

 

 

 

 

(€ in thousands)

 

 

 

 

unaudited

 

 

Current assets

 

 

 

40,029

 

 

28,137

 

Cash and cash equivalents

 

7

 

9,761

 

 

5,324

 

Financial assets

 

7

 

13,098

 

 

5,351

 

Trade receivables, net

 

 

 

4,351

 

 

4,680

 

Inventories

 

4

 

11,170

 

 

11,394

 

Income tax receivables

 

 

 

39

 

 

31

 

Other assets

 

 

 

1,610

 

 

1,357

 

 

 

 

 

 

 

 

Non-current assets

 

 

 

25,841

 

 

25,090

 

Financial assets

 

7

 

466

 

 

5

 

Intangible assets

 

 

 

1,081

 

 

1,143

 

Property, plant and equipment, net

 

5

 

24,135

 

 

23,774

 

Investments in joint venture

 

 

 

26

 

 

27

 

Other assets

 

 

 

133

 

 

141

 

 

 

 

 

 

 

 

Total assets

 

 

 

65,870

 

 

53,227

 

 

 

 

 

 

 

 

 

 

Notes

 

3/31/2021

 

12/31/2020

 

 

 

 

 

 

 

Current liabilities

 

 

 

9,206

 

 

26,215

 

Trade payables

 

7

 

2,456

 

 

1,956

 

Contract liabilities

 

 

 

3,790

 

 

2,911

 

Financial liabilities

 

7

 

1,244

 

 

19,770

 

Other liabilities and provisions

 

6

 

1,716

 

 

1,578

 

 

 

 

 

 

 

 

Non-current liabilities

 

 

 

29,404

 

 

7,371

 

Deferred tax liabilities

 

 

 

--

 

 

52

 

Financial liabilities

 

7

 

29,399

 

 

7,314

 

Other liabilities and provisions

 

6

 

5

 

 

5

 

 

 

 

 

 

 

 

Equity

 

 

 

27,260

 

 

19,641

 

Subscribed capital

 

 

 

5,901

 

 

4,836

 

Capital reserves

 

 

 

103,802

 

 

88,748

 

Accumulated deficit

 

 

 

(83,766

)

 

(75,463

)

Accumulated other comprehensive income

 

 

 

1,504

 

 

1,675

 

Equity attributable to the owners of the company

 

 

 

27,441

 

 

19,796

 

Non-controlling interest

 

 

 

(181

)

 

(155

)

Total equity and liabilities

 

 

 

65,870

 

 

53,227

 

See accompanying notes to unaudited condensed consolidated interim financial statements.

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