voxeljet (VJTTY) 6-K 17 May 18 2018 Q1 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	voxeljet AG
Entity Central Index Key	1,582,581
Document Type	6-K
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - EUR (€) € in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets
Current assets	€ 38,347	€ 37,774
Cash and cash equivalents	3,140	7,569
Financial assets	17,688	14,044
Trade receivables	4,802	5,093
Inventories	11,309	9,539
Income tax receivables	3	3
Other assets	1,405	1,526
Non-current assets
Non-current assets	29,360	29,257
Financial assets	1,298	357
Intangible assets	1,183	1,111
Property, plant and equipment	26,792	27,698
Investments in joint venture	36	39
Other assets	51	52
Total assets	67,707	67,031
Current liabilities
Current liabilities	8,957	6,576
Deferred income	69	271
Trade payables	2,841	3,059
Contract liabilities	2,969
Financial liabilities	1,054	1,162
Other liabilities and provisions	2,024	2,084
Non-current liabilities
Non-current liabilities	16,527	16,537
Deferred income		18
Deferred tax liabilities	72	66
Financial liabilities	16,365	16,413
Other liabilities and provisions	90	40
Equity
Equity	42,223	43,918
Subscribed capital	3,720	3,720
Capital reserves	76,356	76,227
Accumulated deficit	(39,219)	(37,480)
Accumulated other comprehensive income	1,301	1,380
Equity attributable to the owners of the company	42,158	43,847
Non controlling interest	65	71
Total equity and liabilities	€ 67,707	€ 67,031

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Revenue	€ 5,052	€ 4,530
Cost of sales	(2,785)	(2,949)
Gross profit	2,267	1,581
Selling expense	(1,736)	(1,385)
Administrative expenses	(1,232)	(1,194)
Research and development expenses	(1,597)	(1,497)
Other operating expenses	(358)	(190)
Other operating income	402	297
Operating loss	(2,254)	(2,388)
Finance expense	(268)	(47)
Finance income	946	4
Financial result	678	(43)
Loss before income taxes	(1,576)	(2,431)
Income taxes	(6)
Net loss	(1,582)	(2,431)
Other comprehensive income	(79)	15
Total comprehensive loss	(1,661)	(2,416)
Loss attributable to:
Owners of the Company	(1,576)	(2,429)
Non-controlling interests	(6)	(2)
Net loss	(1,582)	(2,431)
Total comprehensive loss attributable to:
Owners of the Company	(1,655)	(2,414)
Non-controlling interests	(6)	(2)
Total comprehensive loss	€ (1,661)	€ (2,416)
Weighted average number of ordinary shares outstanding (in shares)	3,720,000	3,720,000
Loss per share - basic/ diluted (EUR) (in euros per share)	€ (0.42)	€ (0.65)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - EUR (€) € in Thousands	Equity attributable to owners of parent	Subscribed capital	Capital Reserves	Accumulated deficit	Accumulated other comprehensive gain (loss)	Non-controlling interests	Total
Balance at the beginning at Dec. 31, 2016	€ 51,449	€ 3,720	€ 75,827	€ (28,971)	€ 873	€ 87	€ 51,536
Loss for the period	(2,429)			(2,429)		(2)	(2,431)
Foreign currency translation	15				15		15
Balance at the end at Mar. 31, 2017	49,035	3,720	75,827	(31,400)	888	85	49,120
Balance at the beginning (Previously stated) at Dec. 31, 2017	43,847	3,720	76,227	(37,480)	1,380	71	43,918
Balance at the beginning (IFRS 15-Revenue from Contracts with Customers) at Dec. 31, 2017	(100)			(100)			(100)
Balance at the beginning (Initial application) at Dec. 31, 2017	43,684	3,720	76,227	(37,643)	1,380	71	43,755
Balance at the beginning (IFRS 9-Financial Instruments) at Dec. 31, 2017	(63)			(63)			(63)
Balance at the beginning at Dec. 31, 2017							43,918
Loss for the period | Previously stated							(1,573)
Loss for the period | IFRS 15-Revenue from Contracts with Customers							9
Loss for the period	(1,576)			(1,576)		(6)	(1,582)
Net changes in fair value of available for sale financial assets	(15)				(15)		(15)
Foreign currency translation	(64)				(64)		(64)
Equity-settled share-based payment	129		129				129
Balance at the end at Mar. 31, 2018	€ 42,158	€ 3,720	€ 76,356	€ (39,219)	€ 1,301	€ 65	€ 42,223

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flow from operating activities
Loss for the period	€ (1,582)	€ (2,431)
Depreciation and amortization	841	684
Foreign currency exchange differences on loans to subsidiaries	(61)	1
Equity-settled share-based payment	129
Impairment losses on trade receivables	10	60
Change in investment in joint venture	3
Change in fair value of the Performance Participation Interest	189
Change in fair value of derivative equity forward	(941)
Change in inventory allowance	(226)	(60)
Deferred income taxes	6
Change in working capital	1,444	144
Trade and other receivables, inventories and current assets	(1,035)	(726)
Trade payables	(260)	322
Other liabilities, contract liabilities, provisions and deferred income	2,739	548
Total	(188)	(1,602)
Cash Flow from investing activities
Payments to acquire property, plant and equipment and intangible assets	(234)	(687)
Proceeds from disposal of financial assets	2,526	922
Payments to acquire financial assets	(6,170)
Total	(3,878)	235
Cash Flow from financing activities
Repayment of bank overdrafts and lines of credit	(58)	(39)
Repayment of sale and leaseback obligation	(118)	(100)
Repayment of finance lease obligation	(12)	(10)
Repayment of long-term debt	(197)
Proceeds from long-term debt issuance	40	594
Total	(345)	445
Net increase (decrease) in cash and cash equivalents	(4,411)	(922)
Cash and cash equivalents at beginning of period	7,569	7,849
Changes to cash and cash equivalents due to foreign exchanges rates	(18)	14
Cash and cash equivalents at end of period	3,140	6,941
Supplemental Cash Flow Information
Interest paid	47	47
Interest received	€ 1	€ 2

Preparation of financial statem

Preparation of financial statements	3 Months Ended
	Mar. 31, 2018
Preparation of financial statements
Preparation of financial statements	1. Preparation of financial statements Our consolidated interim financial statements include the accounts of voxeljet AG , which is listed on the New York Stock Exchange, and its wholly-owned subsidiaries voxeljet America Inc., voxeljet UK Ltd. and voxeljet India Pvt. Ltd., as well as voxeljet China Co. Ltd., which are collectively referred to herein as the ‘Group’ or the ‘Company.’ Our consolidated interim financial statements were prepared in compliance with all applicable measurement and presentation rules contained in International Financial Reporting Standards (‘IFRS’) as set forth by the International Accounting Standards Board (‘IASB’) and Interpretations of the IFRS Interpretations Committee (‘IFRIC’). The designation IFRS also includes all valid International Accounting Standards (‘IAS’); and the designation IFRIC also includes all valid interpretations of the Standing Interpretations Committee (‘SIC’). Specifically, these financial statements were prepared in accordance with the disclosure requirements and the measurement principles for interim financial reporting purposes specified by IAS 34. The IASB issued a number of new IFRS standards which are required to be adopted in annual periods beginning after January 1, 2018. Standard Effective date Descriptions IFRS 9 01/2019 Amendments Prepayment Features with Negative Compensation IFRS 16 01/2019 Leases IAS 19 01/2019 Amendments Plan Amendment, Curtailment or Settlement IAS 28 01/2019 Amendments Long-term Interests in Associates and Joint Ventures IFRIC 23 01/2019 Uncertainty over Income Tax Treatments Improvements to IFRS (2015-2017) 01/2019 IFRS 3, IFRS 11, IAS 12, IAS 23 Others 01/2020 Amendments References to the Conceptual Framework in IFRS Standards IFRS 17 01/2021 Insurance Contracts IFRS 10, IAS 28 indefinite Amendment Sale or Contribution of Assets between Investor and its Associate or Joint Venture The Company has not yet determined what impact the new standards, amendments or interpretations will have on its financial statements. The interim financial statements as of and for the three months ended March 31, 2018 and 2017 were authorized for issue by the Management Board on May 17, 2018.

Summary of significant accounti

Summary of significant accounting policies	3 Months Ended
	Mar. 31, 2018
Summary of significant accounting policies
Summary of significant accounting policies	2. Summary of significant accounting policies Except as described below, the accounting policies applied in these consolidated interim financial statements are the same as those applied in the Company’s consolidated financial statements as of and for the year ended December 31, 2017, which can be found in its Annual Report on Form 20-F that was filed with the U.S. Securities and Exchange Commission. The changes in accounting policies are also expected to be reflected in the Company’s consolidated financial statements as of and for the year ending December 31, 2018. The Group has initially adopted IFRS 15, Revenue from Contracts with Customers , and IFRS 9, Financial Instruments , on January 1, 2018. A number of other new standards are effective from January 1, 2018 but these do not have a material effect on the Company’s consolidated financial statements. - The adoption of IFRS 15 resulted in minor impacts related to the revenue recognition regarding the revenue streams from maintenance as well as extended warranty contracts. Those impacts include immaterial timing differences for revenue recognition related to these types of contracts with customers. The new guidance is not expected to have a material impact to net income (loss) on an ongoing basis. - The adoption of IFRS 9 resulted in a minor increase in impairment losses recognized on trade receivables. IFRS 15 Revenue from Contracts with Customers IFRS 15 establishes a comprehensive framework for determining whether, how much and when revenue is recognized. It replaced IAS 18, Revenue, IAS 11, Construction Contracts , and related interpretations. The Group has adopted IFRS 15 using the cumulative effect method, with the effect of initially applying this standard recognized at the date of initial application (i.e. January 1, 2018). Accordingly, the information presented for 2017 has not been restated – i.e. it is presented, as previously reported, under IAS 18, IAS 11 and related interpretations. The following table summarizes the impact, net of tax, of transition to IFRS 15 on retained earnings as of January 1, 2018. Impact at January 1, 2018 Impact on adopting IFRS 15 at January 1, 2018 (€ in thousands) Retained earnings Recognition of revenues from maintenance and extended warranty contracts The following table summarizes the impacts of adopting IFRS 15 on the Company’s consolidated interim consolidated statement of financial position as of March 31, 2018 and its consolidated interim statement of comprehensive loss for the three months then ended for each of the line items affected. Amounts without 03/31/2018 As reported Adjustments adoption of IFRS 15 (€ in thousands) Total assets 15 Current assets 15 Trade receivables 15 Total equity and liabilities 59 Current liabilities 59 Deferred income 752 Contract liabilities (2,969) -- Other liabilities and provisions Amounts without 03/31/2018 As reported Adjustments adoption of IFRS 15 (€ in thousands) Revenue 5,052 (44) 5,008 Impairment loss on trade receivables (53) 53 -- Operating loss (2,254) 9 (2,245) Loss before income taxes (1,576) 9 (1,567) Net loss (1,582) 9 (1,573) Total comprehensive loss (1,661) 9 (1,652) The details of the new accounting policies and the nature of the changes to previous accounting policies in relation to the Group’s revenue streams in relation to the Maintenance and extended warranty contracts are set out below. After the initial one year of statutory warranty period, the Company offers its customers extended warranty and optional maintenance contracts. Extended warranty and maintenance contracts are generally provided for a period of twelve months and automatically extended for another twelve months if not cancelled on a timely basis. Before the adoption of IFRS 15 extended warranty and maintenance service revenue has been recognized on a straight-line basis over the contractual term. Under IFRS 15, the Company recognizes revenue based on input factors like the number of service visits or the provision of certain goods, in particular printheads under the maintenance and warranty contracts. Therefore the expected number of service visits and goods to be provided under a contract have been estimated by the Company’s service department based on historical experience. This leads to minor timing differences for revenue recognition related to these types of contracts with customers throughout the contract term. IFRS 9 Financial Instruments IFRS 9 sets out requirements for recognizing and measuring financial assets, financial liabilities and some contracts to buy or sell non-financial items. This standard replaces IAS 39, Financial Instruments . The Company has taken an exemption not to restate comparative information for prior periods with respect to classification and measurement (including impairment) requirements. Differences in the carrying amounts of financial assets and financial liabilities resulting from the adoption of IFRS 9 are recognized in retained earnings and reserves as of January 1, 2018. Accordingly, the information presented for 2017 does not reflect the requirements of IFRS 9 but rather those of IAS 39. The details of new significant accounting policies and the nature and effect of the changes to previous accounting policies are set out below. Classification and measurement of financial assets and financial liabilities IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. However, it eliminates the previous IAS 39 categories for financial assets of held to maturity, loans and receivables and available for sale. Under IFRS 9, on initial recognition, a financial asset is classified as measured at: amortized cost, fair value through other comprehensive income (FVOCI), or fair value through profit or loss (FVTPL). The classification of financial assets under IFRS 9 is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: - it is held within a business model whose objective is to hold assets to collect contractual cash flows; and - its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to record subsequent changes in the investment’s fair value in OCI. This election is made on an investment-by-investment basis. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVTPL. This includes all derivative financial assets. On initial recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. A financial asset (unless it is a trade receivable without a significant financing component that is initially measured at the transaction price) is initially measured at fair value plus, for an item not at FVTPL, transaction costs that are directly attributable to its acquisition. Under IFRS 9, our investments in bond funds will be classified as fair value through other comprehensive income (FVTOCI). As permitted by IFRS 9, the Company has designated these investments at the date of initial application as measured at FVOCI. Unlike IAS 39, the accumulated fair value reserve related to these investments will never be reclassified to profit or loss. Under IAS 39 as well as upon adoption of IFRS 9, our derivative financial instruments have been designated as at FVTPL. Impairment of financial assets IFRS 9 replaces the ‘incurred loss’ model in IAS 39 with an ‘expected credit loss’ (ECL) model. The new impairment model applies to financial assets measured at amortized cost, FVOCI and contract assets. Under IFRS 9, credit losses are recognized earlier than under IAS 39. The Company’s financial assets at amortized cost consist of trade receivables and cash and cash equivalents. For cash and cash equivalents the adoption of IFRS 9 did not have any impact regarding impairment. Under IFRS 9, loss allowances are measured on either of the following bases: - 12-months ECLs: these are ECLs that result from possible default events within the 12 months after the reporting date; or - lifetime ECLs: these are ECLs that result from all possible default events over the expected life of a financial instrument. When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Company considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group’s historical experience and informed credit assessment and including forward-looking information. The Company considers a financial asset to be in default when: - the borrower is unlikely to pay its credit obligations to the Company in full, without recourse by the Company to actions such as realizing security (if any is held); or - the financial asset is more than 90 days past due. The Company considers an investment to have low credit risk when its credit risk rating is equivalent to the globally understood definition of ‘investment grade’. The Company limits its exposure to credit risk by investing only in bond funds which are fully guaranteed by the financial institutions and therefore represents short term credit rating of A‑3 based on Standard & Poor’s or P‑2 based on Moody’s. Trade receivables The Company measures loss allowances for trade receivables at an amount equal to lifetime ECLs. ECLs are a probability-weighted estimate of credit losses. The Company calculates the ECL based on the risk scoring its customers’ according to an external rating agency. Following the risk score of each customer, the trade receivables are clustered into different grades. For each grade, the ECL is calculated after deducting from trade receivables a loss allowance based on actual credit loss experience. In addition the Company uses qualitative assessment of the trade receivables, where default has incurred. The Group considers an equity security to have low credit risk when its credit risk rating is equivalent to the globally understood definition of ‘investment grade’. The Group limits its exposure to credit risk by investing only in bond funds which are fully guaranteed by the financial institutions and therefore represents. Presentation of impairment Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets and presented within other operating expenses. Impairment losses on financial assets classified as FVTPL and FCOCI are presented within the finance expense and other comprehensive income, respectively. The following table presents the original measurement categories under IAS 39 and the new measurement categories under IFRS 9 for each class of the Company’s financial assets and financial liabilities as of January 1, 2018. Original New Original classification New classification carrying amount carrying amount 01/01/2018 under IAS 39 under IFRS 9 under IAS 39 under IFRS 9 (€ in thousands) Financial assets Non-current assets Equity securities Available‑for‑sale financial assets FVOCI Derivative financial instruments A financial asset or financial liability at fair value through profit or loss Mandatorily at FVTPL Current assets Bond funds Available‑for‑sale financial assets FVOCI Cash and cash equivalents Loans and receivables Amortized cost Trade receivables Loans and receivables Amortized cost Financial liabilities Non-current liabilities Long-term debt Financial liabilities measured at amortized cost Amortized cost Finance lease obligation Financial liabilities measured at amortized cost Amortized cost Current liabilities Bank overdraft Financial liabilities measured at amortized cost Amortized cost Long-term debt Financial liabilities measured at amortized cost Amortized cost Finance lease obligation Financial liabilities measured at amortized cost Amortized cost Trade payables Financial liabilities measured at amortized cost Amortized cost Impact of the new impairment model For assets in the scope of the IFRS 9 impairment model, impairment losses are generally expected to increase and become more volatile. The Company has determined that the application of IFRS 9’s impairment requirements at January 1, 2018 results in an additional impairment allowance as follows. (€ in thousands) Loss allowance at December 31, 2017 under IAS 39 Additional impairment recognized at January 1, 2018 on: Trade and other receivables as at December 31, 2017 Additional trade receivables recognized on adoption of IFRS 15 Loss allowance at January 1, 2018 under IFRS 9 The following tables provides information about the exposure to credit risk and ECLs for trade receivables as of January 1, 2018 and March 31, 2018. This was calculated after a specific assessment of the trade receivables and after recording a specific debt allowance. January 1, 2018 Equivalent to external credit rating Probability of Gross carrying Impairment loss Net carrying Grades (Standard & Poor’s) default amount allowance amount (€ in thousands) Grades 1-4: Low risk BBB+ to AAA Grades 5-7: Fair risk B+ to BBB Grades 8-9: Substandard CCC- to B Grade 10: Doubtful C to CC Grade 11: Loss D March 31, 2018 Equivalent to external credit rating Probability of Gross carrying Impairment loss Net carrying Grades (Standard & Poor’s) default amount allowance amount (€ in thousands) Grades 1-4: Low risk BBB+ to AAA Grades 5-7: Fair risk B+ to BBB Grades 8-9: Substandard CCC- to B Grade 10: Doubtful C to CC Grade 11: Loss D

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventories
Inventories	3. Inventories 3/31/2018 12/31/2017 (€ in thousands) Raw materials and merchandise 3,555 3,017 Work in progress 7,754 6,522 Total 11,309 9,539

Property, plant and equipment

Property, plant and equipment	3 Months Ended
	Mar. 31, 2018
Property, plant and equipment
Property, plant and equipment	4. Property, plant and equipment, net 3/31/2018 12/31/2017 (€ in thousands) Land, buildings and leasehold improvements 17,284 17,415 Plant and machinery (includes assets under finance lease) 7,902 8,650 Other facilities, factory and office equipment 1,531 1,625 Assets under construction and prepayments made 75 8 Total 26,792 27,698 Thereof pledged assets of Property, Plant and Equipment 6,926 7,046 Leased assets included in Property, Plant and Equipment: 620 881 Printers 458 613 Printers leased to customers under operating lease — 97 Other factory equipment 162 171

Other liabilities and provision

Other liabilities and provisions	3 Months Ended
	Mar. 31, 2018
Other liabilities and provisions
Other liabilities and provisions	5. Other liabilities and provisions 3/31/2018 12/31/2017 (€ in thousands) Customer deposits -- 373 Liabilities from VAT 65 12 Employee bonus 310 303 Accruals for vacation and overtime 480 222 Accruals for licenses 111 140 Liabilities from payroll 250 236 Accruals for commissions 83 50 Accruals for compensation of Supervisory board 225 180 Accrual for warranty 295 286 Others 295 322 Total 2,114 2,124 The increase regarding customer deposits mainly relates to the sale of a VX4000 3D printer to a client in Southeast Asia.

Financial instruments

Financial instruments	3 Months Ended
	Mar. 31, 2018
Financial instruments
Financial instruments	6. Financial instruments The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. Carrying amount Fair Value Other Total FVTPL FVOCI At amortized cost financial carrying 3/31/2018 liabilities amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value Non-current assets Derivative financial instruments 1,293 -- -- -- 1,293 -- 1,293 -- 1,293 Equity securities -- 5 -- -- 5 -- -- 5 5 Current assets Bond funds -- 17,688 -- — 17,688 17,688 — — 17,688 Financial assets not measured at fair value Current assets Cash and cash equivalents -- -- 3,140 -- 3,140 3,140 -- 3,140 Trade and other receivables -- -- 4,802 -- 4,802 -- -- -- -- Financial liabilities not measured at fair value Non-current liabilities Long-term debt -- -- -- 16,271 16,271 -- 15,199 -- 15,199 Finance lease obligation -- -- -- 94 94 -- 89 -- 89 Current liabilities Bank overdraft -- -- -- — — — — — — Long-term debt -- -- -- 800 800 — 788 — 788 Finance lease obligation -- -- -- 254 254 — 255 — 255 Trade payables -- -- -- 2,841 2,841 — — — — 12/31/2017 A financial asset or financial liability at fair value through profit or loss Held-to-maturity investments Available‑for‑sale investments Loans and receivables Financial liabilities measured at amortized cost Fair Value Level Assets Non-current assets Equity securities -- -- -- -- Level 3 Derivative financial instruments -- -- -- -- Level 2 Current assets Bond funds -- -- -- -- Level 1 Cash and cash equivalents -- -- -- -- Level 1 Liabilities Non-current liabilities Long-term debt -- -- -- -- Level 2 Finance lease obligation -- -- -- -- Level 2 Current liabilities Bank overdraft -- -- -- -- Long-term debt -- -- -- -- Level 2 Finance lease obligation -- -- -- -- Level 2 The fair value of the Company’s investments in the bond funds was determined based on the unit prices quoted by the fund management company. The fair value of long-term debt was determined using discounted cash flow models based on the relevant forward interest rate yield curves. The fair value of finance lease obligations was determined using discounted cash flow models on market interest rates available to the Company for similar transactions at the relevant date. Due to their short maturity and the current low level of interest rates, the carrying amounts of credit lines and bank overdrafts approximate fair value.

Financial result

Financial result	3 Months Ended
	Mar. 31, 2018
Financial result
Financial result	7. Financial result Quarter Ended March 31, 2018 2017 (€ in thousands) Interest expense Finance lease obligations Long-term debt Interest income Payout of bond funds Income from revaluation of derivative financial instruments -- Other -- Financial result

Segment reporting

Segment reporting	3 Months Ended
	Mar. 31, 2018
Segment reporting
Segment reporting	8. Segment reporting The following table summarizes segment reporting. The sum of the amounts of the two segments equals the total for the Group in each of the periods. Three months ended March 31, 2018 2017 (€ in thousands) SYSTEMS SERVICES SYSTEMS SERVICES Revenues 1,375 3,677 1,693 2,837 Gross profit 429 1,838 353 1,228 Gross profit in % % % 20.9 % 43.3 %

Revenues

Revenues	3 Months Ended
	Mar. 31, 2018
Revenues
Revenues	9. Revenues Three months ended March 31, 2018 2017 (€ in thousands) EMEA 3,132 2,838 Germany 1,517 1,431 France 589 525 Others 1,026 882 Asia Pacific 767 279 India 318 39 Taiwan -- 16 Others 449 224 Americas 1,153 1,413 United States 1,139 1,252 Others 14 161 Total 5,052 4,530

Commitments, contingent assets

Commitments, contingent assets and liabilities	3 Months Ended
	Mar. 31, 2018
Commitments, contingent assets and liabilities
Commitments, contingent assets and liabilities	10. Commitments, contingent assets and liabilities In March 2018, ExOne GmbH, a subsidiary of ExOne, notified voxeljet of its intent not to pay its annual license fees under an existing intellectual property-related agreement and asserted its rights to claim damages pursuant to an alleged material breach of the agreement. At this time, the Company cannot reasonably estimate a contingency, if any, related to this matter.

Subsequent events

Subsequent events	3 Months Ended
	Mar. 31, 2018
Subsequent events
Subsequent events	11. Subsequent events Stock option plan In April 2018, the Supervisory Board approved to grant 93,000 stock options (remaining 25% of shares authorized in April 2017) to members of the management board as well as employees.

Summary of significant accoun17

Summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2018
Summary of significant accounting policies
New standards adopted	The Group has initially adopted IFRS 15, Revenue from Contracts with Customers , and IFRS 9, Financial Instruments , on January 1, 2018. A number of other new standards are effective from January 1, 2018 but these do not have a material effect on the Company’s consolidated financial statements. - The adoption of IFRS 15 resulted in minor impacts related to the revenue recognition regarding the revenue streams from maintenance as well as extended warranty contracts. Those impacts include immaterial timing differences for revenue recognition related to these types of contracts with customers. The new guidance is not expected to have a material impact to net income (loss) on an ongoing basis. - The adoption of IFRS 9 resulted in a minor increase in impairment losses recognized on trade receivables. IFRS 15 Revenue from Contracts with Customers IFRS 15 establishes a comprehensive framework for determining whether, how much and when revenue is recognized. It replaced IAS 18, Revenue, IAS 11, Construction Contracts , and related interpretations. The Group has adopted IFRS 15 using the cumulative effect method, with the effect of initially applying this standard recognized at the date of initial application (i.e. January 1, 2018). Accordingly, the information presented for 2017 has not been restated – i.e. it is presented, as previously reported, under IAS 18, IAS 11 and related interpretations. The following table summarizes the impact, net of tax, of transition to IFRS 15 on retained earnings as of January 1, 2018. Impact at January 1, 2018 Impact on adopting IFRS 15 at January 1, 2018 (€ in thousands) Retained earnings Recognition of revenues from maintenance and extended warranty contracts The following table summarizes the impacts of adopting IFRS 15 on the Company’s consolidated interim consolidated statement of financial position as of March 31, 2018 and its consolidated interim statement of comprehensive loss for the three months then ended for each of the line items affected. Amounts without 03/31/2018 As reported Adjustments adoption of IFRS 15 (€ in thousands) Total assets 15 Current assets 15 Trade receivables 15 Total equity and liabilities 59 Current liabilities 59 Deferred income 752 Contract liabilities (2,969) -- Other liabilities and provisions Amounts without 03/31/2018 As reported Adjustments adoption of IFRS 15 (€ in thousands) Revenue 5,052 (44) 5,008 Impairment loss on trade receivables (53) 53 -- Operating loss (2,254) 9 (2,245) Loss before income taxes (1,576) 9 (1,567) Net loss (1,582) 9 (1,573) Total comprehensive loss (1,661) 9 (1,652) The details of the new accounting policies and the nature of the changes to previous accounting policies in relation to the Group’s revenue streams in relation to the Maintenance and extended warranty contracts are set out below. After the initial one year of statutory warranty period, the Company offers its customers extended warranty and optional maintenance contracts. Extended warranty and maintenance contracts are generally provided for a period of twelve months and automatically extended for another twelve months if not cancelled on a timely basis. Before the adoption of IFRS 15 extended warranty and maintenance service revenue has been recognized on a straight-line basis over the contractual term. Under IFRS 15, the Company recognizes revenue based on input factors like the number of service visits or the provision of certain goods, in particular printheads under the maintenance and warranty contracts. Therefore the expected number of service visits and goods to be provided under a contract have been estimated by the Company’s service department based on historical experience. This leads to minor timing differences for revenue recognition related to these types of contracts with customers throughout the contract term. IFRS 9 Financial Instruments IFRS 9 sets out requirements for recognizing and measuring financial assets, financial liabilities and some contracts to buy or sell non-financial items. This standard replaces IAS 39, Financial Instruments . The Company has taken an exemption not to restate comparative information for prior periods with respect to classification and measurement (including impairment) requirements. Differences in the carrying amounts of financial assets and financial liabilities resulting from the adoption of IFRS 9 are recognized in retained earnings and reserves as of January 1, 2018. Accordingly, the information presented for 2017 does not reflect the requirements of IFRS 9 but rather those of IAS 39. The details of new significant accounting policies and the nature and effect of the changes to previous accounting policies are set out below. Classification and measurement of financial assets and financial liabilities IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. However, it eliminates the previous IAS 39 categories for financial assets of held to maturity, loans and receivables and available for sale. Under IFRS 9, on initial recognition, a financial asset is classified as measured at: amortized cost, fair value through other comprehensive income (FVOCI), or fair value through profit or loss (FVTPL). The classification of financial assets under IFRS 9 is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: - it is held within a business model whose objective is to hold assets to collect contractual cash flows; and - its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to record subsequent changes in the investment’s fair value in OCI. This election is made on an investment-by-investment basis. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVTPL. This includes all derivative financial assets. On initial recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. A financial asset (unless it is a trade receivable without a significant financing component that is initially measured at the transaction price) is initially measured at fair value plus, for an item not at FVTPL, transaction costs that are directly attributable to its acquisition. Under IFRS 9, our investments in bond funds will be classified as fair value through other comprehensive income (FVTOCI). As permitted by IFRS 9, the Company has designated these investments at the date of initial application as measured at FVOCI. Unlike IAS 39, the accumulated fair value reserve related to these investments will never be reclassified to profit or loss. Under IAS 39 as well as upon adoption of IFRS 9, our derivative financial instruments have been designated as at FVTPL. Impairment of financial assets IFRS 9 replaces the ‘incurred loss’ model in IAS 39 with an ‘expected credit loss’ (ECL) model. The new impairment model applies to financial assets measured at amortized cost, FVOCI and contract assets. Under IFRS 9, credit losses are recognized earlier than under IAS 39. The Company’s financial assets at amortized cost consist of trade receivables and cash and cash equivalents. For cash and cash equivalents the adoption of IFRS 9 did not have any impact regarding impairment. Under IFRS 9, loss allowances are measured on either of the following bases: - 12-months ECLs: these are ECLs that result from possible default events within the 12 months after the reporting date; or - lifetime ECLs: these are ECLs that result from all possible default events over the expected life of a financial instrument. When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Company considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group’s historical experience and informed credit assessment and including forward-looking information. The Company considers a financial asset to be in default when: - the borrower is unlikely to pay its credit obligations to the Company in full, without recourse by the Company to actions such as realizing security (if any is held); or - the financial asset is more than 90 days past due. The Company considers an investment to have low credit risk when its credit risk rating is equivalent to the globally understood definition of ‘investment grade’. The Company limits its exposure to credit risk by investing only in bond funds which are fully guaranteed by the financial institutions and therefore represents short term credit rating of A‑3 based on Standard & Poor’s or P‑2 based on Moody’s. Trade receivables The Company measures loss allowances for trade receivables at an amount equal to lifetime ECLs. ECLs are a probability-weighted estimate of credit losses. The Company calculates the ECL based on the risk scoring its customers’ according to an external rating agency. Following the risk score of each customer, the trade receivables are clustered into different grades. For each grade, the ECL is calculated after deducting from trade receivables a loss allowance based on actual credit loss experience. In addition the Company uses qualitative assessment of the trade receivables, where default has incurred. The Group considers an equity security to have low credit risk when its credit risk rating is equivalent to the globally understood definition of ‘investment grade’. The Group limits its exposure to credit risk by investing only in bond funds which are fully guaranteed by the financial institutions and therefore represents. Presentation of impairment Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets and presented within other operating expenses. Impairment losses on financial assets classified as FVTPL and FCOCI are presented within the finance expense and other comprehensive income, respectively. The following table presents the original measurement categories under IAS 39 and the new measurement categories under IFRS 9 for each class of the Company’s financial assets and financial liabilities as of January 1, 2018. Original New Original classification New classification carrying amount carrying amount 01/01/2018 under IAS 39 under IFRS 9 under IAS 39 under IFRS 9 (€ in thousands) Financial assets Non-current assets Equity securities Available‑for‑sale financial assets FVOCI Derivative financial instruments A financial asset or financial liability at fair value through profit or loss Mandatorily at FVTPL Current assets Bond funds Available‑for‑sale financial assets FVOCI Cash and cash equivalents Loans and receivables Amortized cost Trade receivables Loans and receivables Amortized cost Financial liabilities Non-current liabilities Long-term debt Financial liabilities measured at amortized cost Amortized cost Finance lease obligation Financial liabilities measured at amortized cost Amortized cost Current liabilities Bank overdraft Financial liabilities measured at amortized cost Amortized cost Long-term debt Financial liabilities measured at amortized cost Amortized cost Finance lease obligation Financial liabilities measured at amortized cost Amortized cost Trade payables Financial liabilities measured at amortized cost Amortized cost Impact of the new impairment model For assets in the scope of the IFRS 9 impairment model, impairment losses are generally expected to increase and become more volatile. The Company has determined that the application of IFRS 9’s impairment requirements at January 1, 2018 results in an additional impairment allowance as follows. (€ in thousands) Loss allowance at December 31, 2017 under IAS 39 Additional impairment recognized at January 1, 2018 on: Trade and other receivables as at December 31, 2017 Additional trade receivables recognized on adoption of IFRS 15 Loss allowance at January 1, 2018 under IFRS 9 The following tables provides information about the exposure to credit risk and ECLs for trade receivables as of January 1, 2018 and March 31, 2018. This was calculated after a specific assessment of the trade receivables and after recording a specific debt allowance. January 1, 2018 Equivalent to external credit rating Probability of Gross carrying Impairment loss Net carrying Grades (Standard & Poor’s) default amount allowance amount (€ in thousands) Grades 1-4: Low risk BBB+ to AAA Grades 5-7: Fair risk B+ to BBB Grades 8-9: Substandard CCC- to B Grade 10: Doubtful C to CC Grade 11: Loss D March 31, 2018 Equivalent to external credit rating Probability of Gross carrying Impairment loss Net carrying Grades (Standard & Poor’s) default amount allowance amount (€ in thousands) Grades 1-4: Low risk BBB+ to AAA Grades 5-7: Fair risk B+ to BBB Grades 8-9: Substandard CCC- to B Grade 10: Doubtful C to CC Grade 11: Loss D

Summary of significant accoun18

Summary of significant accounting policies (Tables)	3 Months Ended
	Mar. 31, 2018
Significant accounting policies
Schedule of impact of IFRS 9 impairment model	(€ in thousands) Loss allowance at December 31, 2017 under IAS 39 Additional impairment recognized at January 1, 2018 on: Trade and other receivables as at December 31, 2017 Additional trade receivables recognized on adoption of IFRS 15 Loss allowance at January 1, 2018 under IFRS 9
Schedule of expected credit loss regarding trade receivables	January 1, 2018 Equivalent to external credit rating Probability of Gross carrying Impairment loss Net carrying Grades (Standard & Poor’s) default amount allowance amount (€ in thousands) Grades 1-4: Low risk BBB+ to AAA Grades 5-7: Fair risk B+ to BBB Grades 8-9: Substandard CCC- to B Grade 10: Doubtful C to CC Grade 11: Loss D March 31, 2018 Equivalent to external credit rating Probability of Gross carrying Impairment loss Net carrying Grades (Standard & Poor’s) default amount allowance amount (€ in thousands) Grades 1-4: Low risk BBB+ to AAA Grades 5-7: Fair risk B+ to BBB Grades 8-9: Substandard CCC- to B Grade 10: Doubtful C to CC Grade 11: Loss D
IFRS 15-Revenue from Contracts with Customers
Significant accounting policies
Schedule of initial application of standards	Impact at January 1, 2018 Impact on adopting IFRS 15 at January 1, 2018 (€ in thousands) Retained earnings Recognition of revenues from maintenance and extended warranty contracts The following table summarizes the impacts of adopting IFRS 15 on the Company’s consolidated interim consolidated statement of financial position as of March 31, 2018 and its consolidated interim statement of comprehensive loss for the three months then ended for each of the line items affected. Amounts without 03/31/2018 As reported Adjustments adoption of IFRS 15 (€ in thousands) Total assets 15 Current assets 15 Trade receivables 15 Total equity and liabilities 59 Current liabilities 59 Deferred income 752 Contract liabilities (2,969) -- Other liabilities and provisions Amounts without 03/31/2018 As reported Adjustments adoption of IFRS 15 (€ in thousands) Revenue 5,052 (44) 5,008 Impairment loss on trade receivables (53) 53 -- Operating loss (2,254) 9 (2,245) Loss before income taxes (1,576) 9 (1,567) Net loss (1,582) 9 (1,573) Total comprehensive loss (1,661) 9 (1,652)
IFRS 9-Financial Instruments
Significant accounting policies
Schedule of classification changes under IFRS 9	Original New Original classification New classification carrying amount carrying amount 01/01/2018 under IAS 39 under IFRS 9 under IAS 39 under IFRS 9 (€ in thousands) Financial assets Non-current assets Equity securities Available‑for‑sale financial assets FVOCI Derivative financial instruments A financial asset or financial liability at fair value through profit or loss Mandatorily at FVTPL Current assets Bond funds Available‑for‑sale financial assets FVOCI Cash and cash equivalents Loans and receivables Amortized cost Trade receivables Loans and receivables Amortized cost Financial liabilities Non-current liabilities Long-term debt Financial liabilities measured at amortized cost Amortized cost Finance lease obligation Financial liabilities measured at amortized cost Amortized cost Current liabilities Bank overdraft Financial liabilities measured at amortized cost Amortized cost Long-term debt Financial liabilities measured at amortized cost Amortized cost Finance lease obligation Financial liabilities measured at amortized cost Amortized cost Trade payables Financial liabilities measured at amortized cost Amortized cost

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Inventories
Inventories by category	3/31/2018 12/31/2017 (€ in thousands) Raw materials and merchandise 3,555 3,017 Work in progress 7,754 6,522 Total 11,309 9,539

Property, plant and equipment (

Property, plant and equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Property, plant and equipment
Schedule of property, plant and equipment	3/31/2018 12/31/2017 (€ in thousands) Land, buildings and leasehold improvements 17,284 17,415 Plant and machinery (includes assets under finance lease) 7,902 8,650 Other facilities, factory and office equipment 1,531 1,625 Assets under construction and prepayments made 75 8 Total 26,792 27,698 Thereof pledged assets of Property, Plant and Equipment 6,926 7,046 Leased assets included in Property, Plant and Equipment: 620 881 Printers 458 613 Printers leased to customers under operating lease — 97 Other factory equipment 162 171

Other liabilities and provisi21

Other liabilities and provisions (Tables)	3 Months Ended
	Mar. 31, 2018
Other liabilities and provisions
Summary of other liabilities and provisions	3/31/2018 12/31/2017 (€ in thousands) Customer deposits -- 373 Liabilities from VAT 65 12 Employee bonus 310 303 Accruals for vacation and overtime 480 222 Accruals for licenses 111 140 Liabilities from payroll 250 236 Accruals for commissions 83 50 Accruals for compensation of Supervisory board 225 180 Accrual for warranty 295 286 Others 295 322 Total 2,114 2,124

Financial instruments (Tables)

Financial instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Financial instruments
Summary of financial instruments	Carrying amount Fair Value Other Total FVTPL FVOCI At amortized cost financial carrying 3/31/2018 liabilities amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value Non-current assets Derivative financial instruments 1,293 -- -- -- 1,293 -- 1,293 -- 1,293 Equity securities -- 5 -- -- 5 -- -- 5 5 Current assets Bond funds -- 17,688 -- — 17,688 17,688 — — 17,688 Financial assets not measured at fair value Current assets Cash and cash equivalents -- -- 3,140 -- 3,140 3,140 -- 3,140 Trade and other receivables -- -- 4,802 -- 4,802 -- -- -- -- Financial liabilities not measured at fair value Non-current liabilities Long-term debt -- -- -- 16,271 16,271 -- 15,199 -- 15,199 Finance lease obligation -- -- -- 94 94 -- 89 -- 89 Current liabilities Bank overdraft -- -- -- — — — — — — Long-term debt -- -- -- 800 800 — 788 — 788 Finance lease obligation -- -- -- 254 254 — 255 — 255 Trade payables -- -- -- 2,841 2,841 — — — — 12/31/2017 A financial asset or financial liability at fair value through profit or loss Held-to-maturity investments Available‑for‑sale investments Loans and receivables Financial liabilities measured at amortized cost Fair Value Level Assets Non-current assets Equity securities -- -- -- -- Level 3 Derivative financial instruments -- -- -- -- Level 2 Current assets Bond funds -- -- -- -- Level 1 Cash and cash equivalents -- -- -- -- Level 1 Liabilities Non-current liabilities Long-term debt -- -- -- -- Level 2 Finance lease obligation -- -- -- -- Level 2 Current liabilities Bank overdraft -- -- -- -- Long-term debt -- -- -- -- Level 2 Finance lease obligation -- -- -- -- Level 2

Financial result (Tables)

Financial result (Tables)	3 Months Ended
	Mar. 31, 2018
Financial result
Schedule of financial result	Quarter Ended March 31, 2018 2017 (€ in thousands) Interest expense Finance lease obligations Long-term debt Interest income Payout of bond funds Income from revaluation of derivative financial instruments -- Other -- Financial result

Segment reporting (Tables)

Segment reporting (Tables)	3 Months Ended
	Mar. 31, 2018
Segment reporting
Schedule of segment reporting	Three months ended March 31, 2018 2017 (€ in thousands) SYSTEMS SERVICES SYSTEMS SERVICES Revenues 1,375 3,677 1,693 2,837 Gross profit 429 1,838 353 1,228 Gross profit in % % % 20.9 % 43.3 %

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2018
Revenues
Schedule of revenues by geographic region	Three months ended March 31, 2018 2017 (€ in thousands) EMEA 3,132 2,838 Germany 1,517 1,431 France 589 525 Others 1,026 882 Asia Pacific 767 279 India 318 39 Taiwan -- 16 Others 449 224 Americas 1,153 1,413 United States 1,139 1,252 Others 14 161 Total 5,052 4,530

Summary of significant accoun26

Summary of significant accounting policies - IFRS 15 (Details) - EUR (€) € in Thousands	Jan. 01, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Significant accounting policies
Retained earnings		€ (39,219)		€ (37,480)
Total assets		67,707		67,031
Current assets		38,347		37,774
Trade receivables	€ 5,270	4,802		5,093
Total equity and liabilities		67,707		67,031
Current liabilities		8,957		6,576
Deferred income		69		271
Contract liabilities		2,969
Other liabilities and provisions		2,024		€ 2,084
Revenue		5,052	€ 4,530
Impairment loss on trade receivables		(53)
Operating loss		(2,254)	(2,388)
Loss before income tax		(1,576)	(2,431)
Net loss		(1,582)	(2,431)
Total comprehensive loss		(1,661)	€ (2,416)
IFRS 15-Revenue from Contracts with Customers
Significant accounting policies
Retained earnings	(100)
Total assets		15
Current assets		15
Trade receivables		15
Total equity and liabilities		59
Current liabilities		59
Deferred income		752
Contract liabilities		(2,969)
Other liabilities and provisions		2,276
Revenue	€ (100)	(44)
Impairment loss on trade receivables		53
Operating loss		9
Loss before income tax		9
Net loss		9
Total comprehensive loss		9
Previously stated
Significant accounting policies
Total assets		67,722
Current assets		38,362
Trade receivables		4,817
Total equity and liabilities		67,766
Current liabilities		9,016
Deferred income		821
Other liabilities and provisions		4,300
Revenue		5,008
Operating loss		(2,245)
Loss before income tax		(1,567)
Net loss		(1,573)
Total comprehensive loss		€ (1,652)

Summary of significant accoun27

Summary of significant accounting policies (Details)	3 Months Ended
	Mar. 31, 2018
Summary of significant accounting policies
Standard warranty period	1 year
Extended warranty and maintenance contracts	12 months
Optional maintenance period	12 months

Summary of significant accoun28

Summary of significant accounting policies - IFRS 9 (Details) - EUR (€) € in Thousands	Jan. 01, 2018	Dec. 31, 2017
Previously stated
Financial instruments
Financial assets	€ 27,063
Financial liabilities	20,416
IFRS 9-Financial Instruments
Financial instruments
Financial assets	27,000
Financial liabilities	20,416
Financial liabilities measured at amortized cost | Current bank overdraft
Financial instruments
Financial liabilities		€ 58
Financial liabilities measured at amortized cost | Previously stated | Non-current long term debt
Financial instruments
Financial liabilities	16,242
Financial liabilities measured at amortized cost | Previously stated | Non-current finance lease obligation
Financial instruments
Financial liabilities	171
Financial liabilities measured at amortized cost | Previously stated | Current bank overdraft
Financial instruments
Financial liabilities	58
Financial liabilities measured at amortized cost | Previously stated | Current long term debt
Financial instruments
Financial liabilities	796
Financial liabilities measured at amortized cost | Previously stated | Current finance lease obligation
Financial instruments
Financial liabilities	308
Financial liabilities measured at amortized cost | Previously stated | Current trade payable
Financial instruments
Financial liabilities	2,841
Financial liabilities measured at amortized cost | IFRS 9-Financial Instruments | Non-current long term debt
Financial instruments
Financial liabilities	16,242
Financial liabilities measured at amortized cost | IFRS 9-Financial Instruments | Non-current finance lease obligation
Financial instruments
Financial liabilities	171
Financial liabilities measured at amortized cost | IFRS 9-Financial Instruments | Current bank overdraft
Financial instruments
Financial liabilities	58
Financial liabilities measured at amortized cost | IFRS 9-Financial Instruments | Current long term debt
Financial instruments
Financial liabilities	796
Financial liabilities measured at amortized cost | IFRS 9-Financial Instruments | Current finance lease obligation
Financial instruments
Financial liabilities	308
Financial liabilities measured at amortized cost | IFRS 9-Financial Instruments | Current trade payable
Financial instruments
Financial liabilities	2,841
FVOCI | IFRS 9-Financial Instruments | Non-current equity securities
Financial instruments
Financial assets	5
FVOCI | IFRS 9-Financial Instruments | Current bond funds
Financial instruments
Financial assets	14,044
FVTPL | IFRS 9-Financial Instruments | Non-current derivative financial instruments
Financial instruments
Financial assets	352
At amortised cost | IFRS 9-Financial Instruments | Current cash and cash equivalents
Financial instruments
Financial assets	7,569
At amortised cost | IFRS 9-Financial Instruments | Trade and other receivables
Financial instruments
Financial assets	5,030
Available-for-sale financial assets | Previously stated | Non-current equity securities
Financial instruments
Financial assets	5
Available-for-sale financial assets | Previously stated | Current bond funds
Financial instruments
Financial assets	14,044
Financial assets at fair value through profit or loss | Previously stated | Non-current derivative financial instruments
Financial instruments
Financial assets	352
Loans and receivables | Previously stated | Current cash and cash equivalents
Financial instruments
Financial assets	7,569
Loans and receivables | Previously stated | Trade and other receivables
Financial instruments
Financial assets	€ 5,093

Summary of significant accoun29

Summary of significant accounting policies - Impairment (Details) € in Thousands	Jan. 01, 2018EUR (€)
Change in allowance for doubtful accounts
Allowance for doubtful accounts, beginning of period	€ 482
Provisions	62
Allowance for doubtful accounts, end of period	545
IFRS 15-Revenue from Contracts with Customers
Change in allowance for doubtful accounts
Provisions	€ 1

Summary of significant accoun30

Summary of significant accounting policies - Expected Credit Loss (Details) - EUR (€) € in Thousands	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Financial instruments
Trade receivables	€ 4,802	€ 5,270	€ 5,093
Gross carrying amount
Financial instruments
Trade receivables	4,917	5,333
Impairment loss allowance
Financial instruments
Trade receivables	€ 115	€ 63
Grade 1 to 4, Low Risk
Financial instruments
Probability of default	0.20%	0.20%
Trade receivables	€ 2,824	€ 3,269
Grade 1 to 4, Low Risk | Gross carrying amount
Financial instruments
Trade receivables	2,828	3,274
Grade 1 to 4, Low Risk | Impairment loss allowance
Financial instruments
Trade receivables	€ 4	€ 5
Grade 5 to 7, Fair Risk
Financial instruments
Probability of default	1.30%	1.30%
Trade receivables	€ 1,588	€ 1,652
Grade 5 to 7, Fair Risk | Gross carrying amount
Financial instruments
Trade receivables	1,609	1,674
Grade 5 to 7, Fair Risk | Impairment loss allowance
Financial instruments
Trade receivables	€ 21	€ 22
Grade 8 to 9, Substandard
Financial instruments
Probability of default	7.00%	7.00%
Trade receivables	€ 383	€ 338
Grade 8 to 9, Substandard | Gross carrying amount
Financial instruments
Trade receivables	412	363
Grade 8 to 9, Substandard | Impairment loss allowance
Financial instruments
Trade receivables	€ 29	€ 25
Grade 10 Doubtful
Financial instruments
Probability of default	25.00%	25.00%
Trade receivables	€ 7	€ 11
Grade 10 Doubtful | Gross carrying amount
Financial instruments
Trade receivables	9	14
Grade 10 Doubtful | Impairment loss allowance
Financial instruments
Trade receivables	€ 2	€ 3
Grade 11 Loss
Financial instruments
Probability of default	100.00%	100.00%
Trade receivables	€ 0	€ 0
Grade 11 Loss | Gross carrying amount
Financial instruments
Trade receivables	59	8
Grade 11 Loss | Impairment loss allowance
Financial instruments
Trade receivables	€ 59	€ 8

Inventories (Details)

Inventories (Details) - EUR (€) € in Thousands	Mar. 31, 2018	Dec. 31, 2017
Inventories
Raw materials and merchandise	€ 3,555	€ 3,017
Work in progress	7,754	6,522
Total current inventories	€ 11,309	€ 9,539

Property, plant and equipment -

Property, plant and equipment - Summary (Details) - EUR (€) € in Thousands	Mar. 31, 2018	Dec. 31, 2017
Property, plant and equipment
Property, plant and equipment.	€ 26,792	€ 27,698
Property, plant and equipment, pledged as security	6,926	7,046
Land, buildings and leasehold improvements
Property, plant and equipment
Property, plant and equipment.	17,284	17,415
Plant and machinery
Property, plant and equipment
Property, plant and equipment.	7,902	8,650
Other facilities, factory and office equipment
Property, plant and equipment
Property, plant and equipment.	1,531	1,625
Assets under construction and prepayments made
Property, plant and equipment
Property, plant and equipment.	75	8
Leased assets
Property, plant and equipment
Property, plant and equipment.	620	881
Printers
Property, plant and equipment
Property, plant and equipment.	458	613
Printers leased to customers under operating lease
Property, plant and equipment
Property, plant and equipment.		97
Other factory equipment
Property, plant and equipment
Property, plant and equipment.	€ 162	€ 171

Other liabilities and provisi33

Other liabilities and provisions - Summary (Details) - EUR (€) € in Thousands	Mar. 31, 2018	Dec. 31, 2017
Other liabilities and provisions
Customer deposits		€ 373
Liabilities from VAT	€ 65	12
Employee bonus	310	303
Accruals for vacation and overtime	480	222
Accruals for licenses	111	140
Liabilities from payroll	250	236
Accruals for commissions	83	50
Accruals for compensation of Supervisory board	225	180
Accrual for warranty	295	286
Others	295	322
Total	€ 2,114	€ 2,124

Financial instrument (Details)

Financial instrument (Details) - EUR (€) € in Thousands	Mar. 31, 2018	Dec. 31, 2017
Non-current long term debt | Not measured at fair value
Financial instruments
Financial liabilities	€ 16,271
Financial liabilities, at fair value	15,199
Non-current long term debt | Level Two | Fair value
Financial instruments
Financial liabilities		€ 15,119
Non-current long term debt | Level Two | Not measured at fair value
Financial instruments
Financial liabilities, at fair value	15,199
Non-current finance lease obligation | Not measured at fair value
Financial instruments
Financial liabilities	94
Financial liabilities, at fair value	89
Non-current finance lease obligation | Level Two | Fair value
Financial instruments
Financial liabilities		163
Non-current finance lease obligation | Level Two | Not measured at fair value
Financial instruments
Financial liabilities, at fair value	89
Current bank overdraft | Fair value
Financial instruments
Financial liabilities		58
Current long term debt | Not measured at fair value
Financial instruments
Financial liabilities	800
Financial liabilities, at fair value	788
Current long term debt | Level Two | Fair value
Financial instruments
Financial liabilities		787
Current long term debt | Level Two | Not measured at fair value
Financial instruments
Financial liabilities, at fair value	788
Current finance lease obligation | Not measured at fair value
Financial instruments
Financial liabilities	254
Financial liabilities, at fair value	255
Current finance lease obligation | Level Two | Fair value
Financial instruments
Financial liabilities		310
Current finance lease obligation | Level Two | Not measured at fair value
Financial instruments
Financial liabilities, at fair value	255
Current trade payable | Not measured at fair value
Financial instruments
Financial liabilities	2,841
Non-current derivative financial instruments | Fair value
Financial instruments
Financial assets	1,293
Financial assets, at fair value	1,293
Non-current derivative financial instruments | Level One | Fair value
Financial instruments
Financial assets		352
Non-current derivative financial instruments | Level Two | Fair value
Financial instruments
Financial assets, at fair value	1,293
Non-current equity securities | Fair value
Financial instruments
Financial assets	5
Financial assets, at fair value	5
Non-current equity securities | Level Three | Fair value
Financial instruments
Financial assets		5
Financial assets, at fair value	5
Current bond funds | Fair value
Financial instruments
Financial assets	17,688
Financial assets, at fair value	17,688
Current bond funds | Level One | Fair value
Financial instruments
Financial assets		14,044
Financial assets, at fair value	17,688
Current cash and cash equivalents | Not measured at fair value
Financial instruments
Financial assets	3,140
Financial assets, at fair value	3,140
Current cash and cash equivalents | Level One | Fair value
Financial instruments
Financial assets		7,569
Current cash and cash equivalents | Level One | Not measured at fair value
Financial instruments
Financial assets, at fair value	3,140
Trade and other receivables | Not measured at fair value
Financial instruments
Financial assets	4,802
Financial liabilities measured at amortized cost | Non-current long term debt | Not measured at fair value
Financial instruments
Financial liabilities	16,271
Financial liabilities measured at amortized cost | Non-current long term debt | Level Two
Financial instruments
Financial liabilities		16,242
Financial liabilities measured at amortized cost | Non-current finance lease obligation | Not measured at fair value
Financial instruments
Financial liabilities	94
Financial liabilities measured at amortized cost | Non-current finance lease obligation | Level Two
Financial instruments
Financial liabilities		171
Financial liabilities measured at amortized cost | Current bank overdraft
Financial instruments
Financial liabilities		58
Financial liabilities measured at amortized cost | Current long term debt | Not measured at fair value
Financial instruments
Financial liabilities	800
Financial liabilities measured at amortized cost | Current long term debt | Level Two
Financial instruments
Financial liabilities		796
Financial liabilities measured at amortized cost | Current finance lease obligation | Not measured at fair value
Financial instruments
Financial liabilities	254
Financial liabilities measured at amortized cost | Current finance lease obligation | Level Two
Financial instruments
Financial liabilities		308
Financial liabilities measured at amortized cost | Current trade payable | Not measured at fair value
Financial instruments
Financial liabilities	2,841
FVTPL | Non-current derivative financial instruments | Fair value
Financial instruments
Financial assets	1,293
FVOCI | Non-current equity securities | Fair value
Financial instruments
Financial assets	5
FVOCI | Current bond funds | Fair value
Financial instruments
Financial assets, at fair value	17,688
At amortised cost | Current cash and cash equivalents | Not measured at fair value
Financial instruments
Financial assets	3,140
At amortised cost | Trade and other receivables | Not measured at fair value
Financial instruments
Financial assets	€ 4,802
Financial assets at fair value through profit or loss | Non-current derivative financial instruments | Level One
Financial instruments
Financial assets		352
Available-for-sale financial assets | Non-current equity securities | Level Three
Financial instruments
Financial assets, at fair value		5
Available-for-sale financial assets | Current bond funds | Level One
Financial instruments
Financial assets, at fair value		14,044
Loans and receivables | Current cash and cash equivalents | Level One
Financial instruments
Financial assets		€ 7,569

Financial result (Details)

Financial result (Details) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Financial result
Interest expense	€ (268)	€ (47)
Finance lease obligations	(36)	(10)
Long-term debt	(232)	(37)
Interest income	946	4
Payout of bond funds	5	1
Income from revaluation of derivative financial instruments	941
Other		3
Financial result	€ 678	€ (43)

Segment reporting - Segments (D

Segment reporting - Segments (Details) € in Thousands	3 Months Ended
	Mar. 31, 2018EUR (€)segment	Mar. 31, 2017EUR (€)
Segment reporting
Number of reportable segments | segment	2
Revenue	€ 5,052	€ 4,530
Gross profit	(1,576)	(2,431)
Systems
Segment reporting
Revenue	1,375	1,693
Gross profit	€ 429	€ 353
Gross profit in %	31.20%	20.90%
Services
Segment reporting
Revenue	€ 3,677	€ 2,837
Gross profit	€ 1,838	€ 1,228
Gross profit in %	50.00%	43.30%

Revenues (Details)

Revenues (Details) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues
Revenue	€ 5,052	€ 4,530
EMEA
Revenues
Revenue	3,132	2,838
Germany
Revenues
Revenue	1,517	1,431
France
Revenues
Revenue	589	525
Other-EMEA
Revenues
Revenue	1,026	882
Asia Pacific
Revenues
Revenue	767	279
India
Revenues
Revenue	318	39
Taiwan
Revenues
Revenue		16
Other-Asia Pacific
Revenues
Revenue	449	224
Americas
Revenues
Revenue	1,153	1,413
United States
Revenues
Revenue	1,139	1,252
Others-Americas
Revenues
Revenue	€ 14	€ 161

Subsequent events (Details)

Subsequent events (Details) - Stock Option Transactions	1 Months Ended
	Apr. 30, 2018EquityInstruments
Subsequent events
Options granted (in shares)	93,000
Options granted (in percent)	25.00%