Exhibit 12.1
Materialise NV
Statement of Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
| For the year ended December 31, | ||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | 1,026 | 665 | 615 | 606 | 568 | |||||||||||||||
Interest capitalized | 87 | — | — | — | — | |||||||||||||||
Estimate of interest within rental expense* | 970 | 817 | 388 | 396 | 455 | |||||||||||||||
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Total fixed charges (not including the amortization on interest capitalized) | 2,083 | 1,482 | 1,003 | 1,002 | 1,023 | |||||||||||||||
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Earnings available for fixed charges: | ||||||||||||||||||||
Pre-tax income (loss) from continuing operations before adjustments for income or loss from equity investees | (653 | ) | (291 | ) | (2,848 | ) | 2,340 | 3,433 | ||||||||||||
Add: fixed charges | 2,083 | 1,482 | 1,003 | 1,002 | 1,023 | |||||||||||||||
Add: amortization of capitalized interest | 5 | 2 | 2 | 2 | 2 | |||||||||||||||
Less: interest capitalized | (87 | ) | — | — | — | — | ||||||||||||||
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Total earnings (loss) available for fixed charges | 1,348 | 1,193 | (1,843 | ) | 3,344 | 4,458 | ||||||||||||||
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Ratio of earnings to fixed charges | * | * | * | * | * | * | 3.33x | 4.35x | ||||||||||||
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| * | Reasonable approximation of interest factor on rental expense |
| ** | Due to the losses in some of the periods, the ratio coverage is sometimes less than 1:1. Materialise NV must generate additional earnings in some of the periods presented (as articulated in the table below) in order to achieve a coverage ratio of 1:1. |
| For the year ended December 31, | ||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
Additional earnings required in order to achieve coverage ratio of 1:1 | 735 | 289 | 2,846 | — | — | |||||||||||||||
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