voxeljet (VJTTY) 20-F 30 Mar 21 2020 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2020shares
Document and Entity Information
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Document Shell Company Report	false
Entity Registrant Name	voxeljet AG
Entity Incorporation, State or Country Code	2M
Entity Common Stock, Shares Outstanding	4,836,000
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Central Index Key	0001582581
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Current assets	€ 28,137	€ 31,513
Cash and cash equivalents	5,324	4,368
Financial assets	5,351	7,408
Trade receivables	4,680	5,915
Inventories	11,394	12,459
Income tax receivables	31	39
Other assets	1,357	1,324
Non-current assets
Non-current assets	25,090	31,052
Financial assets	5	2,279
Intangible assets	1,143	1,356
Property, plant and equipment	23,774	27,343
Investments in joint venture	27	30
Other assets	141	44
Total assets	53,227	62,565
Current liabilities
Current liabilities	26,215	18,855
Trade payables	1,956	2,797
Contract liabilities	2,911	2,623
Financial liabilities	19,770	11,290
Other liabilities and provisions	1,578	2,145
Non-current liabilities
Non-current liabilities	7,371	10,192
Deferred tax liabilities	52	142
Financial liabilities	7,314	9,866
Other liabilities and provisions	5	184
Equity
Equity	19,641	33,518
Subscribed capital	4,836	4,836
Capital reserves	88,748	88,077
Accumulated deficit	(75,463)	(60,124)
Accumulated other comprehensive income	1,675	742
Equity attributable to the owners of the company	19,796	33,531
Non-controlling interests	(155)	(13)
Total equity and liabilities	€ 53,227	€ 62,565

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Revenues	€ 21,567	€ 24,602	€ 26,009
Cost of sales	(14,812)	(17,426)	(16,864)
Gross profit	6,755	7,176	9,145
Selling expenses	(5,816)	(7,118)	(7,332)
Administrative expenses	(6,407)	(6,952)	(5,587)
Research and development expenses	(6,500)	(7,212)	(6,334)
Other operating expenses	(2,799)	(945)	(751)
Other operating income	1,603	2,143	1,297
Operating loss	(13,164)	(12,908)	(9,562)
Finance expense	(2,589)	(1,349)	(1,279)
Finance income	184	318	2,158
Financial result	(2,405)	(1,031)	879
Loss before income taxes	(15,569)	(13,939)	(8,683)
Income tax (expense) income	88	(39)	(64)
Net loss	(15,481)	(13,978)	(8,747)
Other comprehensive income (loss) that may be reclassified subsequently to profit or loss	933	(577)	(61)
Total comprehensive loss	(14,548)	(14,555)	(8,808)
Loss attributable to:
Owner of the Company	(15,339)	(13,714)	(8,711)
Non-controlling interests	(142)	(264)	(36)
Net loss	(15,481)	(13,978)	(8,747)
Total comprehensive loss attributable to:
Owner of the Company	(14,406)	(14,291)	(8,772)
Non-controlling interests	(142)	(264)	(36)
Total comprehensive loss	€ (14,548)	€ (14,555)	€ (8,808)
Weighted average number of ordinary shares outstanding (in shares)	4,836,000	4,836,000	3,940,636
Loss per share - basic/diluted (in EUR per share)	€ (3.20)	€ (2.89)	€ (2.22)

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, 2017	€ 43,628	€ 3,720	€ 76,227	€ (37,699)	€ 1,380	€ 71	€ 43,699
Loss for the period	(8,711)			(8,711)		(36)	(8,747)
Foreign currency translations	(60)				(60)		(60)
Capital increase	11,088	1,116	9,972				11,088
Equity-settled share-based payment	604		604				604
Balance at the end at Dec. 31, 2018	46,549	4,836	86,803	(46,410)	1,320	35	46,584
Loss for the period	(13,714)			(13,714)		(264)	(13,978)
Foreign currency translations	(578)				(578)		(578)
Equity-settled share-based payment	671		671				671
Share-based payment transaction with the non-controlling shareholder of a subsidiary	603		603			216	819
Balance at the end at Dec. 31, 2019	33,531	4,836	88,077	(60,124)	742	(13)	33,518
Loss for the period	(15,339)			(15,339)		(142)	(15,481)
Foreign currency translations	933				933		933
Equity-settled share-based payment	671		671				671
Balance at the end at Dec. 31, 2020	€ 19,796	€ 4,836	€ 88,748	€ (75,463)	€ 1,675	€ (155)	€ 19,641

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash Flow from operating activities
Loss for the period	€ (15,481)	€ (13,978)	€ (8,747)
Depreciation and amortization	3,442	4,211	3,506
Foreign currency exchange differences on loans to subsidiaries	1,466	(828)	(340)
Changes in financial assets due to fair value valuation	11	(174)	119
Share-based compensation expense	671	671	604
Change in impairment of trade receivables	29	15	227
Non-cash expense on financial liabilities	1,505	874	781
Change in fair value of derivative equity forward	715	106	(2,028)
Change in inventory allowance	(1)	(21)	(417)
Interest paid	258	320	231
Interest received	(92)	(93)	(42)
Loss on disposal of intangibles and property, plant and equipment	42	354
Other	63	92	111
Change in working capital	774	1,859	(1,336)
Trade and other receivables, inventories and current assets	1,501	(759)	(1,390)
Trade payables	(781)	358	(310)
Other liabilities, contract liabilities and provisions	(417)	2,286	375
Change in restricted cash	463
Income tax payable/receivables	8	(26)	(11)
Total	(6,598)	(6,592)	(7,331)
Cash Flow from investing activities
Payments to acquire property, plant and equipment and intangible assets	(139)	(1,100)	(3,812)
Proceeds from disposal of financial assets	4,962	8,373	10,475
Payments to acquire financial assets	(994)	(2,725)	(8,884)
Interest received	92	93	42
Total	3,921	4,641	(2,179)
Cash Flow from financing activities
Repayment of bank overdrafts and lines of credit			(58)
Repayment of sale and leaseback obligation			(324)
Repayment of lease liabilities (2018): Repayment of finance lease obligations)	(412)	(397)	(37)
Repayment of long-term debt	(863)	(969)	(2,764)
Proceeds from issuance of long-term debt	5,000	529	1,639
Proceeds from issuance of shares			11,088
Interest paid	(258)	(320)	(231)
Total	3,467	(1,157)	9,313
Net increase (decrease) in cash and cash equivalents	790	(3,108)	(197)
Cash and cash equivalents at beginning of period	4,368	7,402	7,569
Changes to cash and equivalents due to foreign exchanges rates	166	74	30
Cash and cash equivalents at end of period	€ 5,324	€ 4,368	€ 7,402

The reporting entity

The reporting entity	12 Months Ended
	Dec. 31, 2020
The reporting entity
The reporting entity	NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Basis of preparation 1. The reporting entity voxeljet AG (in the following referred to as ‘ voxeljet’ , ‘Group’, or the ‘Company’ ) is a high‑tech company headquartered in Friedberg, Germany which is listed on the NASDAQ Capital Market (“NASDAQ”). The Company consists of voxeljet AG, voxeljet America Inc. ( voxeljet America ), voxeljet UK Ltd. ( voxeljet UK ), voxeljet India Pvt. Ltd ( voxeljet India ) and voxeljet China Co. Ltd. ( voxeljet China ). voxeljet AG owns 100% of the issued and outstanding shares of voxeljet America, voxeljet UK and voxeljet India, as well as 70.00% of voxeljet China. In December 2020, management initiated the wind-up of voxeljet UK. For further information, see Note 9 to the consolidated financial statements. As previously disclosed, on August 18, 2020, the Company announced that it would voluntarily transfer the listing of its American Depositary Shares (“ADSs”) from the New York Stock Exchange (the “NYSE”) to the NASDAQ, effective August 28, 2020, after market close. voxeljet’s ADSs began trading as a NASDAQ-listed security at market open on August 31, 2020, and have continued to be listed under the ticker symbol “VJET.” As previously disclosed, on July 31, 2020, the Company announced that it would change the ratio of its ADSs to ordinary shares from each ADS representing one-fifth (1/5) of one ordinary share (5:1) to each ADS representing one ordinary share (1:1). For ADS holders, the ratio change had the same effect as a 1 for 5 reverse ADS split. The ratio change became effective on August 14, 2020 (the “Effective Date”). On the Effective Date, each ADS holder was required to exchange every five (5) ADSs then held for one (1) new ADS (e.g., if a holder of ADSs previously held 50 ADSs, following the ratio change on the Effective Date, such holder held 10 ADSs). Citibank, N.A., as depositary bank, has arranged for the exchange of the current ADSs for the new ones. There was no change to voxeljet’s underlying ordinary shares. As a manufacturer of three‑dimensional (“3D”) printing systems, voxeljet specializes in the development, production and distribution of industrial printing machines and the production and sale of customized printed products to industrial customers. The Company operates in two business divisions: Systems and Services. The voxeljet Systems business division develops, manufactures and sells innovative 3D printers. Today, voxeljet has a product range that reaches from smaller entry models to large‑format machines, and therefore offers 3D printer systems for a wide range of application areas. Through its Services business division, the Company offers customized printed products such as sand molds and plastic models based on CAD data through its ‘on‑demand production’ service centers. In addition, the Company offers casting services to its customers. In those cases, the casting process is performed by external suppliers supported by voxeljet’s molds and models. Small‑batch and prototype manufacturers utilize the Company’s machines for the automatic, patternless manufacture of their casting molds and 3D models. The Company’s customer base includes automotive manufacturers, aerospace industries, foundries and suppliers as well as companies from the arts and design industries as well as universities and research institutes.

Preparation of financial statem

Preparation of financial statements	12 Months Ended
	Dec. 31, 2020
Preparation of financial statements
Preparation of financial statements	2. Preparation of financial statements The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (IFRS) as set forth by the International Accounting Standards Board (IASB) and interpretations of the IFRS Interpretations Committee (IFRIC). The consolidated financial statements were authorized for issue by the Management Board on March 30, 2021. These consolidated financial statements were prepared on the basis of historical cost except for the following items, which are measured on an alternative basis on each reporting date. Debt securities at fair value through profit or loss Fair value Non-derivative financial instruments at fair value through profit or loss Fair value Derivative financial instruments at fair value through profit or loss Fair value The consolidated financial statements are presented in thousands of Euros (kEUR) except where otherwise stated. Due to rounding, numbers presented throughout these notes may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. Going concern The financial statements have been prepared on the basis of going concern which contemplates continuity of normal business activities and the realization of assets and settlement of liabilities in the ordinary course of business. voxeljet has recognized continuous net losses during the years 2020, 2019 and 2018 amounting to kEUR 15,481, kEUR 13,978 and kEUR 8,747, respectively. Additionally, voxeljet had negative cash flows from operating activities in 2020, 2019 and 2018 of kEUR 6,598, kEUR 6,592, kEUR 7,331, respectively, mainly due to continuous net losses. As of May 7, 2020, the issuance date of the Company’s consolidated financial statements for the year ended December 31, 2019, the Company had concluded there was a material uncertainty that cast significant doubt on the Company's ability to continue as a going concern. As discussed below, management has subsequently taken certain actions, which management has concluded remove that significant doubt. Due to the global outbreak of COVID-19, the Company has experienced and expects to continue to experience lower demand in both, the Systems and the Services segment. voxeljet’s clients have postponed and may continue to postpone larger investments and therefore, the demand for 3D printers may also decrease. In addition, the COVID-19 situation could cause further delays in installation of 3D printers at customers’ facilities, which could lead to postponed revenue recognition for those transactions. In the third quarter of 2020, the Company experienced a slight recovery of demand compared to the prior two quarters in 2020, and in the fourth quarter this positive trend has continued. Both a decrease in revenues as well as potential delays in the installations increase the risk and likelihood of lower cash inflows. Such risks have been evaluated by management and consequently have been considered in the Company’s liquidity forecast, which assumes voxeljet’s business plan is executed appropriately and sales track as expected. Management updates the liquidity forecast on an ongoing basis. The COVID-19 situation raises uncertainties regarding the achievement of budgeted sales and the fulfillment of voxeljet’s budget. Consequently, the Company could experience difficulty in generating sufficient cash flow to meet its obligations and sustain its operations. Material deviations from the forecasts could lead to a covenant breach in the future, which could result in an acceleration of voxeljet’s obligation to repay all amounts outstanding under those facilities. Despite the ongoing losses, reduced cash flow and cash facilities, and the other negative financial conditions, management assumes that voxeljet will continue as a going concern, as the Company has been successful in drawing down kEUR 5,000 of the second tranche (tranche B1) of the loan granted by the EIB under the Finance Contract in June 2020. This improved the liquidity significantly. Also, the financial covenants under the Finance Contract have been renegotiated to replace the Total Net Financial Debt to EBITDA ratio with a minimum cash/cash equivalents requirement (the “Minimum Cash Covenant”). As of June 30, 2020, pursuant to the semi-annual financial testing prescribed by the Finance Contract, as amended, the Company was in compliance with the Minimum Cash Covenant. However, in March 2021, the Company discovered that its calculation of cash and cash equivalents for determining compliance with the Minimum Cash Covenant was incorrect and, accordingly, the Company was not in compliance with the Minimum Cash Covenant as of December 31, 2020. Also in March 2021, the Company received a waiver from the EIB for the noncompliance with the Minimum Cash Covenant, pursuant to which (i) the EIB agreed that it will not demand immediate repayment of the outstanding amounts owed and (ii) the EIB and the Company amended the financial covenants in the Finance Contract to clarify the calculation of cash and cash equivalents for determining compliance with the Minimum Cash Covenant. In addition, the successful restructuring and the initiation of the wind-up of voxeljet UK, which included consolidating 3D printing to serve all customers in Europe from the German service center as well as transferring all employees to voxeljet AG has been finished. This helps to reduce overall costs and will lead to improved gross profit margins by realizing economies of scale in the German service center. The wind-up of voxeljet UK will lead to further cost savings, especially of administrative expenses. Management also initiated a restructuring program at the German entity during the fourth quarter of 2019. This program included the reduction of headcount mainly in the Systems segment in order to streamline the Company’s operations and optimize efficiency. This restructuring was successfully completed at the end of June 2020 and already provides further cost reductions, which is reflected in our monthly detailed target-actual comparisons. In January 2021, the Company has successfully completed its registered direct offering and sale of 621,170 ordinary shares in the form of ADS at a purchase price of € 13.33 per share (this equals $16.16 per ordinary share based on the exchange rate as of the close of business in New York on January 14, 2021). This provided voxeljet with gross proceeds of the offering amount to approximately $10 million (€ 8.3 million) before deducting fees and expenses. In February 2021, the Company completed another registered direct offering and sale of 443,414 ordinary shares in the form of ADS at a purchase price of € 22.27 per ordinary share (this equals $26.95 per ordinary share based on the exchange rate as of the close of business in New York on February 9, 2021). This provided voxeljet with gross proceeds of approximately $12 million (€ 9.9 million) before deducting fees and expenses. Those capital increases improved the Company’s liquidity as well as equity ratio significantly. In spite of this success, management is taking further steps to raise further funds which may include debt or equity financing, not without mentioning, that there can be no assurance that voxeljet will be able to raise further funds on terms favorable to the Company, if at all. Based on the Company’s current liquidity and capital resources in combination with the current liquidity forecasts, as well as the implemented cost reduction program and the successful financing with the EIB, the waiver for the noncompliance with the Minimum Cash Covenant as of December 31, 2020 and the registered direct offerings, management believes that the Company has the ability to meet its financial obligations for at least the next 24 months and therefore continues as a going concern. Impairment test Non-financial assets are tested for impairment if there are indicators that the carrying amounts may not be recoverable. The Company considers the COVID-19 situation to be such an indicator. Therefore, voxeljet performed an impairment test for the non-financial assets for the end of the reporting period. An impairment loss is recognized in the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is defined as the higher of an asset’s fair value less cost to sell and its value in use. As individual assets do not generate largely independent cash flows, impairment testing is performed at the cash generating unit level. An individual fixed asset within a CGU cannot be written down below fair value less cost incurred to sell the individual asset. The impairment test, performed by management, did not lead to any write downs. Revision to prior periods for correction of immaterial errors and retrospective adjustments to presentations and disclosures a) Amendment of classification of short-term investments In the first quarter of 2020, the Company amended the classification of short-term investments included in current financial assets. Before the amendment, those short-term investments have been classified in the category at fair value through OCI (FVOCI). The new classification shall be the category at fair value through profit and loss (FVTPL). Accordingly, prior periods have been revised, which leads to movements between profit and loss and other comprehensive income as the changes in fair value are now presented within finance income or expense. b) Recalculation of performance participation interest related to the Finance Contract with the EIB In the first quarter of 2020, the Company recalculated the performance participation interest related to the Finance Contract with the EIB, due to a mistake in the calculation logic. Accordingly, prior periods have been revised, which leads to adjustments in non current financial assets, deferred tax liabilities as well as equity. c) Impacts of amendment and recalculation Due to the amendments and recalculations, which are described above, the opening balance as of January 1, 2018 of non current financial assets as well as deferred tax liabilities have decreased by kEUR 37 and kEUR 10, respectively. The opening balance as of January 1, 2018 of accumulated deficit increased by kEUR 27. Further, the loss for the year ended December 2018 decreased by kEUR 17. The opening balance as of January 1, 2019 of non current financial assets as well as deferred tax liabilities have increased by kEUR 151 and kEUR 43, respectively. The opening balance as of January 1, 2019 of accumulated deficit increased by kEUR 10, whereas the opening balance of accumulated other comprehensive gain increased by kEUR 118. As a result, the loss for the year ended December 2019 decreased by kEUR 253. As of December 31, 2018, non current financial assets as well as deferred tax liabilities have increased by kEUR 151 and kEUR 43, respectively. For the period ending December 31, 2018 the balance of accumulated deficit increased by kEUR 10, whereas the balance of accumulated other comprehensive gain increased by kEUR 118. As of December 31, 2019, non current financial assets as well as deferred tax liabilities have increased by kEUR 260 and kEUR 73, respectively. For the period ending December 31, 2019 the balance of accumulated deficit decreased by kEUR 243, whereas the balance of accumulated other comprehensive gain decreased by kEUR 56. For the year ended December 2018 the loss was reduced by kEUR 17 whereas net changes in fair value of debt investments at FVOCI was increased by kEUR 119. Further, the loss for the three months ended December 2019 was increased by kEUR 93 whereas net changes in fair value of debt investments at FVOCI was increased by kEUR 14. For the year ended December 2019 the loss was reduced by kEUR 253 whereas net changes in fair value of debt investments at FVOCI was reduced by kEUR 174. The Company has evaluated the effect of these amendments, both qualitatively and quantitatively, and concluded that the change did not have a material impact on, nor require amendment of, any previously filed financial statements. Affected financial statement line items for prior periods are appended with a footnote. d) Retrospective adjustments to presentations and disclosures of prior period information Additionally, the Company has applied retrospective adjustments to presentations and disclosures of prior period information within the following footnotes: - Consolidated statements of cash flow: The Company has revised the presentation of interest paid and interest received for the years ended December 31, 2018 and December 31, 2019 both previously disclosed under supplemental cash flow information, now presented in cash flow from operating activities, cash flow from investing activities and cash flow from financing activities, respectively. Further, the Company has revised the presentation of changes in financial assets due to fair value valuation as well as change in fair value of derivative equity forward for the years ended December 31, 2018 and December 31, 2019 related to the amendment of classification of short-term investments and the recalculation of performance participation interest related to the Finance Contract with the EIB. As a consequence, the line item others has also been revised. - Note 12. Additional disclosures to financial instruments: The Company has changed the categorization of the fair value of long-term debt in financial liabilities as of December 31, 2019 from level 2 to level 3. - Note 19. Financial risk management: The Company revised the table contractual cash out flow as of December 31, 2019 regarding the three to five years bucket by including the cash outflow of kEUR 2,918 from the performance participation interest related to tranche A of the loan granted by the EIB. - Note 24. Related party transactions: The Company has included Michele Neuber for his employment as working student within the related party disclosure. His father Volker Neuber serves as a member of voxeljet’s supervisory board since July 2020.

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2020
Summary of significant accounting policies
Summary of significant accounting policies	3. Summary of significant accounting policies The principal accounting policies applied in the preparation of these financial statements are set out below. Expect as described below, these policies have been consistently applied to all years presented. Consolidation Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Intercompany balances and transactions are eliminated in preparing the consolidated financial statements. A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Interests in the joint venture are accounted for using the equity method. They are initially recognized at cost, which includes transaction costs. Subsequent to initial recognition, the consolidated financial statements include the Group’s share of the profit or loss and other comprehensive income of equity-accounted investees, until the date on which significant influence or joint control ceases. Revenues from contracts with customers Under IFRS 15, the Company recognizes revenue on the maintenance contracts based on the input method, such as the number of service visits or the provision of certain goods, in particular printheads, to measure the progress that depicts the transfer of control of the goods or services to the customer toward complete satisfaction of a performance obligation over time. 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. Revenue on the sale of new or refurbished 3D printers is recognized at the point in time after completed installation of 3D printers at the customer site and evidenced through final acceptance by the customer. Customers obtain control of the 3D printers when the customers have accepted the assets. Refurbished 3D printers usually were produced for and used in our Services segment. On average, these refurbished printers have been operating within a voxeljet service center for 1.5 to 2.5 years prior to their sale. Before these 3D printers are sold, they are fully refurbished and a new printhead is installed. The cost of sales include the residual value as well as the costs related to the refurbishment. The Group provides customers with statutory warranty on all 3D printers for one year. The warranty presents assurance-type warranty and is not treated as a separate performance obligation. After the initial one-year warranty period, the Group offers its customers optional maintenance contracts, which are accounted for as separate performance obligations. The Company, from time to time, offers to customers, to operate their purchased 3D printer and perform 3D printing on custom-ordered printed products for a temporary period before the customers’ facility is configured according to required technical specifications. The Company recognizes revenue for the use of space on Company premises over time under the term of the contracts. The Company recognizes revenue from the sale of customized printed products from the customer’s purchased 3D printer, upon transfer of control of ownership to the customers, generally upon shipment. Revenue on the sale of customized printed products is recognized at the point in time when the control of ownership of the assets is transferred to the customers, generally upon shipment. Shipping, packaging and handling costs billed to customers for the sales of customized printed products and consumables are not considered as a separate performance obligation. The Company recognized the gross revenue at the point in time as the service is provided, i.e. upon shipment. Costs incurred by the Company associated with shipping, packaging and handling are included in selling expenses in the consolidated statements of comprehensive loss. Invoices from revenue streams, besides the sale of new or refurbished 3D printers are usually payable within 30 to 60 days. The Company also recognizes that longer payment periods are customary in some countries where it transacts business. To reduce credit risk in connection with machine sales, the Company may, depending upon the circumstances, requires advance payments prior to shipment. On the sale of new or refurbished 3D printers, the Company generally require advance payments prior to shipment and requires international customers to furnish letters of credit. These advance payments are recognized as contract liabilities. Maintenance contracts are generally billed to customers in advance on a monthly, quarterly, or annual basis, and are initially recorded as a contract liability as the Company has an enforceable right to payment after the contract has been signed. It is the Group’s policy that it does not offer products to the end customer with a right of return. Therefore, neither a refund liability nor a right to the returned goods are recognized. A contract liability is recognized when the Company has received consideration (i.e. advance payment) from customers before satisfying a performance obligation or has an unconditional right to payment under a non-cancellable contract before it transfers the related goods or services to the customer under maintenance and extended warranty contracts. The extended warranty is considered as service-type warranty and therefore accounted as a separate performance obligation. The contract liabilities primarily relate to (1) the advance consideration received from customers before satisfying a performance obligation, or an unconditional right to payment under a non-cancellable contract before it transfers the related goods or services to the customer under maintenance contracts, for which revenue is recognized over time; and (2) the advance consideration received from customers for the sale of new or refurbished 3D printers, for which revenue is recognized when the customer has accepted the assets. The total amount of unfulfilled performance obligations for 3D printer sales is € 6.8 million. The Company expects to realize the entire amount in 2021. The amount of kEUR 772 included in contract liabilities at December 31, 2019 has been recognized as revenue in 2020 (2019: kEUR 584). Management expects that 96% (kEUR 2,794 ) of the transaction price allocated to unsatisfied performance obligations as of December 31, 2020 will be recognized as revenue during the next reporting period. The remaining 4% (kEUR 117) will be recognised in the 2022 financial year. In the following table, revenue from contracts with customers is disaggregated by primary geographical market, and timing of revenue recognition. The table also includes a reconciliation of the disaggregated revenue with the Group’s reportable segments (see Note 18). Year ended December 31, SYSTEMS SERVICES 2020 2019 2018 2020 2019 2018 Primary geographical markets EMEA Asia Pacific Americas Timing of revenue recognition Products transferred at a point in time Products and services transferred over time -- -- -- Revenue from contracts with customers In 2020, voxeljet leased one 3D printer (2019: two 3D printers and 2018: two 3D printer) to customers under operating leases. Rental income is recognized on a straight‑line basis over the term of the lease as revenue and is reported within the Systems segment. Financial instruments Financial instruments are contracts that give rise to a financial asset in one entity and a financial liability or equity instrument in another entity. voxeljet recognizes financial assets and financial liabilities in the balance sheet when an entity of the Group becomes a contractual party to the financial instrument. All customary purchases and sales of financial assets are recognized on the trading date, i.e. the date on which the Company enters into the obligation to purchase the asset. Financial assets and financial liabilities are generally reported at gross value. Netting only applies if the offsetting of the amounts is legally enforceable and it is intended to actually offset them. In general, voxeljet does not intend to offset any amounts. Initial measurement At initial recognition, voxeljet measures a financial asset at its fair value plus, in the case of a financial asset at fair value through other comprehensive income, transactions costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed immediately. Financial liabilities are initially assigned to one of the following valuation categories in accordance with IFRS 9, measured at amortized cost or measured at fair value through profit or loss. Subsequent measurement The subsequent measurement of voxeljet's financial assets is based on their classification: - at amortized cost: interest income from these financial assets is reported in the financial income using the effective interest method. Gains and losses on derecognition are recorded in the income statement and, considering related foreign currency gains and losses, reported under other operating income and expenses, - at fair value through profit or loss: Gains or losses of derivative financial instruments and short term investments, which are subsequently measured at fair value through profit or loss, are included in the income statement as interest income or interest expense in the period in which they arise. The subsequent measurement of voxeljet’s financial liabilities depends on their classification as follows: - financial liabilities at fair value through profit or loss: This category includes derivative financial instruments that are not designated as hedging instruments in accordance with IFRS 9 hedge accounting rules. Gains and losses are recognized in the income statement. - Financial liabilities measured at amortized cost: This category includes trade payables and interest-bearing loans. After initial recognition, these are measured at amortized cost using the effective interest method. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as in case of amortization using the effective interest method. Amortization according to the effective interest method is included in interest expenses in the profit and loss account. Derecognition voxeljet derecognizes financial assets (or parts of their financial assets where applicable) when the rights to receive cash flows from the financial asset have expired or have been transferred and the Group substantially transferred all opportunities and risks associated with the ownership. A financial liability is derecognized when the obligation under the liability is settled, cancelled or expired. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, this exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability. In case of minor changes in conditions a change in the present value will be considered in profit or loss. 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 replaced IAS 39, Financial Instruments. The Company has applied the 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. The details of accounting policies under IFRS 9 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 (AC), 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 (AC) 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 (FVOCI). 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, initially our short-term investments in bond funds were classified as fair value through other comprehensive income (FVOCI). In the first quarter of 2020, we amended our classification of short-term investments included in current financial assets as FVTPL. For further information, see Note 2. voxeljet assesses expected future credit losses associated with financial assets measured at amortized cost based on future expectations. A respective risk provision or, in case of an actual loss that already occurred, an impairment loss is recognized. - General approach: Generally, financial assets are considered as having a low default risk at initial recognition resulting in a 12-month expected credit loss provision. In case of a significant increase in credit risk, the lifetime expected credit losses are recognized. Amongst others debtor’s payment delays of more than 90 days are considered as an indicator for increase in default risk. Further, when determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, voxeljet 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. - Simplified approach: For trade receivables with no significant financing component voxeljet applies the simplified approach, which requires lifetime expected credit losses to be recognized from initial recognition of the receivables. In order to measure expected credit losses, trade receivables are summarized on the basis of common credit risk characteristics and overdue days. The expected credit losses are based both quantitative and qualitative information and analysis, based on the Group’s historical experience and informed credit assessment and including forward-looking information. A default on a financial asset is when the counterparty fails to make contractual payments within 90 days of when they fall due and there are no information available, which are contradictory e.g. the counterparty commits the payment to a later time or the Company and the counterparty agreed upon a payment plan. Financial assets are written off when there is no reasonable expectation of recovery, such as a debtor failing to engage in a repayment plan with the Company or a counterparty had declared insolvency. Where loans or receivables have been written off, the Company continues to engage in enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognised in profit or loss. 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. Trade receivables The Company considers trade receivables which are in default individually prior to the application of the ECL model to the remaining population. 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 of 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. 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 or other operating income. Impact of the impairment model For assets in the scope of the IFRS 9 impairment model, impairment losses are generally expected to increase and become more volatile. For information about the exposure to credit risk and ECLs for trade receivables as of December 31, 2020 and 2019, please refer to Note 19. Cash and cash equivalents Cash and cash equivalents are short‑term bank deposits and are not subject to a significant risk of change in value due to the excellent ratings of those banks to which voxeljet entrusted its funds. Leases The Group has initially adopted IFRS 16 Leases from January 1, 2019. IFRS 16 introduced a single, on-balance sheet accounting model for lessees. As a result, the Group, as a lessee, has recognized right-of-use assets representing its rights to use the underlying assets and lease liabilities representing its obligation to make lease payments. Lessor accounting remains similar to previous accounting policies. The Group has applied IFRS 16 using the modified retrospective approach, under which the cumulative effect of initial application is recognized in retained earnings as of January 1, 2019. Accordingly, the comparative information presented for 2018 has not been restated and is therefore presented as previously reported, under IAS 17 and related interpretations. The details of changes in accounting are disclosed below. Additionally, the disclosure requirements in IFRS 16 have not generally been applied to the comparative information. Definition of a lease Previously, the Company determined at contract inception whether an arrangement was or contained a lease under IFRIC 4 Determining Whether an Arrangement contains a Lease. The Company now assesses whether a contract is or contains a lease based on the new definition of a lease. Under IFRS 16, a contract is, or contains, a lease if the contract conveys a right to control the use of an identified asset for a period of time in exchange for consideration. On transition to IFRS 16, the Company elected to apply the practical expedient to grandfather the assessment of which transactions are leases. It applies IFRS 16 only to contracts that were previously identified as leases. Contracts that were not identified as leases under IAS 17 and IFRIC 4 were not reassessed. Therefore, the definition of a lease under IFRS 16 has been applied only to contracts entered into or changed on or after January 1, 2019. At inception or on reassessment of a contract that contains a lease component, the Company allocates the consideration in the contract to each lease and non-lease component on the basis of their relative stand-alone prices. The Company as a lessee The Company leases assets, including properties, production equipment and vehicles. As a lessee, the Company previously classified leases as operating or finance leases based on its assessment of whether the lease transferred substantially all of the risks and rewards of ownership. Under IFRS 16, the Company recognizes right-of-use assets and lease liabilities for most leases. These leases are on-balance sheet. However, the Company has elected not to recognize right-of-use assets and lease liabilities for some leases of low-value assets (e.g. tools) as well as short-term leases (leases with less than 12 months of lease term). The Company recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term. The Company presents right-of-use assets in “property, plant and equipment”, in the same line item as it presents underlying assets of the same nature that it owns. The carrying amounts of right-of-use assets are as below: Property, plant and equipment Property Production equipment Others Total (€ in thousands) Balance at January 1, 2020 3,658 72 3,984 Balance at December 31, 2020 2,892 45 3,191 The Company presents lease liabilities within “financial liabilities” in the condensed consolidated statements of financial position. Leases under IFRS 16 The Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at an amount equal to the lease liability, and subsequently at cost less any accumulated depreciation and impairment losses, and adjusted for certain remeasurements of the lease liability. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the Company’s incremental borrowing rate. The lease liability is subsequently measured at amortized cost using the effective interest method. It is remeasured when there is a change in the future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether it will exercise a purchase, extension or termination option. The Company has applied judgement to determine the lease term for some lease contracts in which it is a lessee that include renewal options. The assessment of whether the Company is reasonably certain to exercise such options impacts the lease term, which significantly affects the amount of lease liabilities and right-of-use assets recognized. Transition Previously, the Company classified property plant and equipment leases as operating leases under IAS 17. These include manufacturing facilities. The leases typically run for a period of three to ten years. Some leases include an option to renew the lease for an additional three to five years after the end of the non-cancelable period. At transition, for leases classified as operating leases under IAS 17, lease liabilities were measured at the present value of the remaining lease payments, discounted at the Company’s incremental borrowing rates for similar assets as of January 1, 2019. Right-of-use assets are measured at an amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments. The Company used the following practical expedients when applying IFRS 16 to leases previously classified as operating leases under IAS 17: - Applied a single discount rate to a portfolio of leases with reasonably similar characteristics. - Applied the exemption not to recognize right-of-use assets and liabilities for leases with less than 12 months of lease term. - Used hindsight when determining the lease term if the contract contains options to extend or terminate the lease. The Company leases a small number of items of production equipment. These leases were classified as finance leases under IAS 17. For these finance leases, the carrying amount of the right-of-use asset and the lease liability at January 1, 2019 were determined at the carrying amount of the lease asset and lease liability under IAS 17 immediately before that date. The Company as a lessor The Company leases out a small number of 3D printers. Those leases have been classified as operating leases. The accounting policies applicable to the Company as a lessor are not different from those under IAS 17. The Company is not required to make any adjustments on transition to IFRS 16 for leases in which it acts as a lessor. Impacts on financial statements Impacts on transition On transition to IFRS 16, the Company recognized additional right-of-use assets, including property, plant and equipment and additional lease liabilities. The impact on transition is summarized below. Impact on adopting IFRS 16 at January 1, 2019 (€ in thousands) Right-of-use assets presented in property plant and equipment 3,501 Lease liabilities as presented in financial liabilities 3,574 When measuring lease liabilities for leases that were classified as operating lease, the Company discounted lease payments using its incremental borrowing rates as of January 1, 2019. The weighted-average rate applied was 4.55%. January 1, 2019 (€ in thousands) Operating lease commitment at December 31, 2018, as disclosed in the Group's consolidated financial statements 2,584 Discounted using the incremental borrowing rate at January 1, 2019 2,021 Finance lease liability recognized as at December 31, 2018 105 Recognition exemption for leases with less than 12 months of lease term at transition Extension options reasonably certain to be exercised Lease liabilities recognized at January 1, 2019 Impacts for the period As a result of applying IFRS 16, in relation to the leases that were previously classified as operating leases, as of December 31, 2020, the Company recognized kEUR 3,191 of right-of-use assets (as of December 2019: kEUR 3,984) and kEUR 3,124 of lease liabilities (as of December 31, 2019: kEUR 3,610). Also in relation to those leases under IFRS 16, the Company has recognized depreciation and interest costs, instead of operating lease expenses. During the twelve months ended December 31, 2020, the Company recognized kEUR 682 (2019: kEUR 765) of depreciation expenses and kEUR 167 (2019: kEUR 190) of interest expense from these leases. Within the statement of cash flows, cash payments for the principal portion of lease payments, as well as for the interest portion, have been classified as financing activities. Payments for short-term leases have been classified as operating activities. Research and development expenses All research and development costs are charged to expense as incurred as the criteria set forth in IAS 38 for capitalizing such costs have not yet been met. Government grants Government grants awarded for project funding are recorded within other operating income in the consolidated statement of comprehensive loss if the related research and development costs have been incurred and provided that the conditions for the funding have been met. Until then, amounts received under government grants are recorded as deferred income in the statements of financial position. Government grants in connection with government assistance to help businesses to mitigate adverse impacts from the COVID-19 global pandemic are recognized in profit or loss on a systematic basis over the periods in which the entity recognizes as expenses the related costs for which the grants are intended to compensate, provided that the entity complies with the conditions for the funding. Employee stock option plan In April 2017, the Supervisory Board adopted and approved Option Plan 2017. The plan authorizes to grant shares of equity-settled stock options to employees and members of the management board. The Company’s stock-based compensation expense is estimated at the grant date based on the fair value of the award and is recognized as expense ratably over the requisite service period of the award. The Company calculates the fair value of each option award on the date of grant under the Monte Carlo simulation model. The determination of the grant date fair value of the awards using a simulation model is affected by our stock price as well as assumptions regarding a number of complex and subjective variables. These variables include the expected stock price volatility over the expected life of the awards, risk-free interest rates, and expected dividends. The risk free interest rate is equal to the U.S. Treasury constant maturity rates for the period equal to the expected life. The Company does not currently pay cash dividends on common stock and does not anticipate doing so in the foreseeable future. Accordingly, the expected dividend yield is zero. Foreign currencies The financial statements are presented in Euros, the functional currency of voxeljet AG. Monetary transactions denominated in foreign currencies are translated to Euros at the exchange rates prevailing on the transaction date. Gains and losses on foreign currency transactions are shown within other operating income and other operating expenses, respectively, in the consolidated statement of comprehensive loss. The financial statements of foreign subsidiaries are translated using the concept of the functional currency in accordance with IAS 21. The assets and liabilities of foreign subsidiaries are translated at the spot rate at the end of the period, while their income statement items are translated at average exchange rates for the respective periods. All resulting exchange differences are recognized in other comprehensive income. Gains and losses on foreign currency transactions are shown within other operating income and other operating expenses, respectively, in the consolidated statement of comprehensive loss. The loans provided to voxeljet AG’s subsidiaries are not considered as net investments in foreign operations. Therefore, gains or losses from foreign exchange differences thereon are recognized in the statement of comprehensive loss as “other operating income or expenses”. The exchange rates that are most relevant for voxeljet’s consolidated financial statements are as follows: Average exchange rates to Euro December 31, Average Rate USD GBP INR CNY 2020 1.1422 0.8897 84.6392 7.8747 2019 1.1195 0.8778 78.8361 7.7355 2018 1.1810 0.8847 80.7332 7.8081 Year end exchange rates to Euro December 31, Year End Rate USD GBP INR CNY 2020 1.2271 0.8990 89.6605 8.0225 2019 1.1234 0.8508 80.1870 7.8205 Income Tax Income tax expense (benefit) consists of current and deferred tax expense and benefit in accordance with IAS 12. Current income tax expense (benefit) is based on taxable profit (loss) for the year. Taxable profit (loss) differs from profit (loss) as reported in the statements of comprehensive income (loss) because it excludes items of income or expense that are taxable or deductible in other years and further excludes items that

New standards and interpretatio

New standards and interpretations not yet adopted	12 Months Ended
	Dec. 31, 2020
New standards and interpretations not yet adopted
New standards and interpretations not yet adopted	4. New standards and interpretations not yet adopted The IASB issued a number of new IFRS standards or amendments to existing standards which are required to be adopted in annual periods beginning after December 31, 2020. Standard Effective date Descriptions IFRS 17 01/2021 Insurance Contracts IAS 1 01/2022 Classifications of Liabilities as Current or Non-Current (Amendment to IAS 1) The adoption of standards effective 01/2020 did not have a material impact on the financial statements as of and for the year ended December 31, 2020. The Company has not yet conclusively determined what impact the new standards, amendments or interpretations effective 01/2021 or later will have on its financial statements, but does not expect they will have a significant impact.

Critical accounting judgment an

Critical accounting judgment and key sources of estimation and uncertainty	12 Months Ended
	Dec. 31, 2020
Critical accounting judgment and key sources of estimation and uncertainty
Critical accounting judgment and key sources of estimation and uncertainty	5. Critical accounting judgment and key sources of estimation and uncertainty In the process of applying the Company’s accounting policies, Management is required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on the knowledge available as of the preparation date of the financial statements and historical experiences as well as other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis. Developments outside management’s control may cause actual amounts to differ from the original estimates. In that case, the underlying assumptions and, if necessary, the carrying amounts of the pertinent assets and liabilities are adjusted accordingly. Revisions to accounting estimates are recognized in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. The assumptions and estimates refer primarily to the assessment of the Company of the ability to continue as a going concern (see further discussion in Note 2), recognition of revenue, and the consideration of the renewal options of the lease contracts in determining the appropriate lease terms. The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next fiscal year are discussed below. Revenue recognition Revenue is measured based on the consideration specified in a contract with a customer. The Group recognizes revenue when it transfers control over a good or service to a customer. Revenue on the sale of new or refurbished 3D printers is recognized at the point in time after completed installation of 3D printers at the customer site and evidenced through final acceptance by the customer. Customers obtain control of the 3D printers when the customers have accepted the assets. The Company recognizes revenue on the maintenance contracts for 3D printers by applying the input method to measure the progress that depicts the transfer of control of the goods or services to the customer toward complete satisfaction of a performance obligation over time. The determination of the expected number of service visits and goods to be provided under a contract require significant judgment and have been estimated by the Company’s service department based on historical experience. Recognition of derivative financial instruments As described in Notes 12 and 19 to the consolidated financial statements, the Company has recognized embedded derivative financial assets amounting to kEUR 2,367 and embedded derivative financial liabilities amounting to kEUR 808 (collectively, the embedded derivative financial instruments), which are presented as current assets and liabilities, respectively. The embedded derivative financial instruments, which are embedded in Tranche A and B1 of the loan granted in Euros by the EIB, are required to be bifurcated and accounted for separate from the host contract because their value is dependent on the share price of the Company, which is not clearly and closely related to the host contract. The embedded derivative financial instruments are revalued at each balance sheet date, with changes in their fair value recorded within financial result of the consolidated statements of comprehensive loss. The fair value of the embedded derivative financial instruments, which are not traded in an active market, is determined by management using valuation techniques which are dependent on inputs such as share prices, share volume, discount rates and foreign currency exchange rates. Finance income (Tranche A) and expense (Tranche B1) resulting from the revaluations described above amounted to kEUR 93 and kEUR 808, respectively, for the year ended December 31, 2020. Lease term as a lessee The Company leases certain property leases which contain extension options exercisable by the Company after the end of the non-cancellable contract period. The extension options held are exercisable only by the Company and not by the lessors. The Company assesses at lease commencement date whether it is reasonably certain to exercise the extension options. The Company reassesses whether it is reasonably certain to exercise the options if there is a significant event or significant changes in circumstances within its control.

Share based payment arrangement

Share based payment arrangements	12 Months Ended
	Dec. 31, 2020
Share based payment arrangements
Share based payment arrangements	6. Share based payment arrangements Share option plan On April 7, 2017, voxeljet AG established a share option plan that entitles key management personnel and senior employees of voxeljet AG and its subsidiaries to purchase shares of the parent company. Total options available under the share option plan are 372,000. 279,000 options (75%, Tranche 1) were granted on April 7, 2017. 93,000 options (25%, Tranche 2) were granted on April 12, 2018. The vesting conditions include a service condition (the options vest after a period of four years of continued service from the respective grant date) and a market condition (the options may only be exercised if the share price exceeds the exercise price over a period of 90 consecutive days by at least 20% in the period between the grant date and the respective exercise time frame) of which both conditions must be met. The fair value of the employee share option plan has been measured for Tranches 1 and 2 using a Monte Carlo simulation. The market condition has been incorporated into the fair value at grant date. The inputs used in the measurement of the fair value at grant date are as follows: Tranche 1 Tranche 2 Parameter Share price at grant date USD 13.80 USD 16.15 Exercise price USD 13.90 USD 16.15 Expected volatility 55.00% 58.40% Expected dividends -- -- Risk-free interest rate 2.49% 2.85% Fair value at grant date USD 8.00 USD 9.74 December 31, 2020 2019 Number of options Weighted-average exercise price (USD) Number of options Weighted-average exercise price (USD) Outstanding at January 1 Granted during the year -- -- -- -- Exercised during the year -- -- -- -- Forfeited during the year -- -- -- -- Outstanding at December 31 Exercisable at December 31 -- -- -- -- The respective expected volatility has been based on an evaluation of the historical volatility of the Company’s share price as at the grant date. As at December 31, 2020 no options are exercisable and 353,400 options are outstanding. The weighted-average contractual life of the options at December 31, 2020 amounts to 6.5 years (December 31, 2019: 7.5 years). The expense recognized in the statement of comprehensive loss totaled kEUR 671, kEUR 671 and kEUR 604 for the years ended December 31, 2020, 2019 and 2018, respectively. Increase of minority shareholding of voxeljet China Set out below is summarized financial information for the subsidiary that has non-controlling interests that are material to the Group. The amounts disclosed for the subsidiary are based on IFRS and before inter-company eliminations. December 31, 2020 (€ in thousands) voxeljet China Co. Ltd. Summarized balance sheet Current assets 2,603 Current liabilities 4,351 Current net liabilities 1,748 Non-current assets 1,831 Non-current liabilities 852 Non-current net assets 979 Net liabilities 769 Accumulated NCI Year Ended December 31, 2020 (€ in thousands) voxeljet China Co. Ltd. Summarized statement of comprehensive income Revenue 2,179 Loss for the period Other comprehensive income -- Total comprehensive loss Loss allocated to NCI Year Ended December 31, 2020 (€ in thousands) voxeljet China Co. Ltd. Summarized cash flows Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities 963 Net increase/ (decrease) in cash and cash equivalents On March 1, 2019, voxeljet China moved into a new facility. The minority shareholder of voxeljet China has increased its shareholding in the entity from 4.175% to 30% through an in-kind capital contribution of a lease contract on the new facility. The lease term under IFRS 16 of the contract is six years, including a rent-free period during the first three years. The transaction is accounted for as a share-based payment transaction under IFRS 2 and resulted in an increase of non-controlling interest of kEUR 216 and capital reserves of kEUR 604. The Company also recorded a right-of-use asset of kEUR 813 and the corresponding lease liability on the commencement date of the lease. The fair value of the lease contract was measured based on the market observable lease payment of comparable properties in close proximity from the voxeljet China facility. The Company has not disclosed prior period information, as management considers it as not material.

Trade receivables

Trade receivables	12 Months Ended
	Dec. 31, 2020
Trade receivables.
Trade receivables	7. Trade receivables Credit terms provided to customers are determined individually and are dependent on already existing customer relationships and the customer’s payment history. Due to the short-term nature of the current receivables, their carrying amount is considered to be the same as their fair value. Impairment Year Ended December 31, 2020 2019 (€ in thousands) Balance at beginning of period 187 383 Provisions 52 38 Write-offs Release to income Balance at end of period 183 187 Release to income includes changes in expected loss allowance which amounted to a gain of kEUR 23 for the business year 2020, and were recorded in other operating income in the Company’s consolidated statements of comprehensive loss.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2020
Inventories
Inventories	8. Inventories Inventories consisted of the following for the years reported: INVENTORIES BY CATEGORY December 31, 2020 2019 (€ in thousands) Raw materials Work in progress Total The reserve for slow-moving inventory regarding work in progress was kEUR 0 and kEUR 1 in 2020 and 2019, respectively.

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2020
Restructuring
Restructuring	9. Restructuring voxeljet AG At the end of 2019, a provision of kEUR 453 was made to cover the costs associated with a restructuring program announced by Management in November 2019 for the German operation. This program included the reduction of headcount mainly in production in order to adjust the capacity but also in further functions. Estimated restructuring costs mainly include employee termination benefits based on a voluntary program which has started on February 17, 2020. This program has been agreed with the workers’ council in a company agreement. On April 16, 2020, the voluntary program expired with the result that the desired reduction in headcount has been completely achieved through the voluntary program, and therefore the cost saving targets have been fully implemented. The provision for the restructuring has been completely used within 2020. Twelve months ended December 31, 2019 Line items in statement of comprehensive loss / Components of restructuring charges (€ in thousands) Cost of sales 302 Employee termination costs 302 Selling expenses 77 Employee termination costs 77 Administrative expenses 45 Employee termination costs 45 Research and development expenses 29 Employee termination costs 29 Impact of restructuring 453 voxeljet UK In 2019, the Company decided to consolidate 3D printing to serve all customers in Europe from the German service center and restructure the voxeljet UK entity. The restructuring included reduction in headcount and disposal of certain assets. Consequently the lease of the Milton Keynes facility has been early-terminated and ended at the end of May 2020. Twelve months ended December 31, 2019 Line items in statement of comprehensive loss / Components of restructuring charges (€ in thousands) Cost of sales 312 Loss on disposal of assets 226 Employee termination costs 67 Impairment of Inventories 19 Selling expenses 42 Loss on disposal of assets 20 Employee termination costs 16 Write-off right-of-use asset 6 Administrative expenses 274 Loss on disposal of assets 81 Employee termination costs 35 Lease maintenance costs 100 Settlement of agreements 14 Legal Consulting 25 Write-off right-of-use asset 19 Impact of restructuring 628 After the restructuring launched in 2019, management initiated in December 2020 the liquidation process of voxeljet UK. Following cost-benefit considerations and taking into account the subsidiary's main purpose -particularly attracting customers attention to voxeljet’s products- management came to the conclusion, that it is not necessary to maintain a legal entity in the UK. The remaining employees, solely sales representatives, have been transferred to voxeljet AG and will continue to focus on selling 3D printed parts and 3D printers in the United Kingdom and Northern Europe. The wind-up will help to reduce overall costs, especially within the function administration, but not at all adversely affect the activities of the UK colleagues.

Intangible assets and property,

Intangible assets and property, plant and equipment	12 Months Ended
	Dec. 31, 2020
Intangible assets and property, plant and equipment
Intangible assets and property, plant and equipment	10. Intangible assets and property, plant and equipment Intangible assets December 31, 2020 2019 (€ in thousands) Software Licenses Prepayments made on intangible assets Total In 2020, prepayments amounting to kEUR 454 related to capitalized customizing cost in connection with our ERP system have been transferred to software as the project has been completed. The decrease related to software is related to the scheduled amortization partially offset by additions. Property, plant and equipment December 31, 2020 2019 (€ in thousands) Land, buildings and leasehold improvements Plant and machinery Other facilities, factory and office equipment Assets under construction and prepayments made Total Thereof pledged assets of Property, Plant and Equipment The pledged assets consist of the new office building and the new production hall, which were completed in 2017, as well as seven (in 2019: eight) 3D printers that serve as collateral for certain credit lines and loan agreements. In March 2020, voxeljet pledged land and facilities located in Friedberg, Germany in favor of the EIB. Amounts added to plant and machinery relating to self‑constructed 3D printers are considered non‑cash transactions, which totaled to kEUR 516 and kEUR 883 in the years ended December 31, 2020 and 2019, respectively. The following table presents the composition of, and annual movement in, intangible assets and property, plant and equipment for the years 2020 and 2019, respectively: 2020 (€ in thousands) Acquisition and manufacturing cost Accumulated depreciation and amortization Carrying amount 01/01/2020 Additions Disposals Transfer FX 12/31/2020 01/01/2020 Current year Disposals FX 12/31/2020 12/31/2020 Intangible assets Software 1,551 69 26 454 2,046 940 327 26 (1) 1,240 806 Licenses 245 -- -- -- -- 245 162 27 -- -- 189 56 Prepayments made on intangible assets 662 89 16 -- 281 -- -- -- -- -- 281 Total 2,458 158 42 0 2,572 1,102 354 26 1,429 1,143 Property, plant and equipment Land, buildings and leasehold improvements 22,885 13 65 -- 22,463 2,840 1,001 2 3,765 18,698 Plant and machinery 14,032 752 4,595 -- 9,660 8,253 1,551 3,921 5,678 3,982 Other facilities, factory and office equipment 4,142 189 314 -- 3,976 2,683 536 257 2,937 1,039 Assets under construction and prepayments made 60 -- -- -- 55 -- -- -- -- -- 55 Total 41,119 954 4,974 0 36,154 13,776 3,088 4,180 12,380 23,774 2019 (€ in thousands) Carrying Acquisition and manufacturing cost Accumulated depreciation and amortization amount Recognition of right-of-use asset on initial Adjusted application of balance at Current 01/01/2019 (1) IFRS 16 01/01/2019 Additions Disposals Revaluation Transfer FX 12/31/2019 01/01/2019 year Disposals Transfer FX 12/31/2019 12/31/2019 Intangible assets Software 1,446 -- 1,446 94 -- -- 10 1 1,551 659 280 -- -- 1 940 611 Licenses 245 -- 245 -- -- -- -- -- 245 136 26 -- -- -- 162 83 Prepayments made on intangible assets 524 -- 524 148 -- -- (10) -- 662 -- -- -- -- -- -- 662 Total 2,215 -- 2,215 242 -- -- -- 1 2,458 795 306 -- -- 1 1,102 1,356 Property, plant and equipment Land, buildings and leasehold improvements 18,909 3,109 22,018 1,651 369 -- 119 22,885 1,824 1,095 83 -- 4 2,840 20,045 Plant and machinery 19,211 112 19,323 1,194 6,769 40 245 14,032 10,164 2,198 4,162 13 40 8,253 5,779 Other facilities, factory and office equipment 3,801 280 4,081 449 411 -- 24 4,142 2,423 608 356 -- 8 2,683 1,459 Assets under construction and prepayments made 16 -- 16 59 16 -- -- 1 60 -- -- -- -- -- -- 60 Subtotal 41,937 3,501 45,438 3,353 7,565 40 389 41,119 14,411 3,901 4,601 13 51 13,776 27,343 Leased products 203 -- 203 -- 41 -- (163) 1 -- 54 4 18 (40) -- -- -- Total 42,140 3,501 45,641 3,353 7,606 (123) 390 41,119 14,465 3,905 4,619 (27) 51 13,776 27,343 (1) The Company has initially applied IFRS 16 as of January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated and the cumulative effect of initially applying IFRS 16 is recognized in retained earnings at the date of initial application. For further information, see Note 3 “Summary of significant accounting policies” to the consolidated financial statements.

Other liabilities and provision

Other liabilities and provisions	12 Months Ended
	Dec. 31, 2020
Other liabilities and provisions
Other liabilities and provisions	11. Other liabilities and provisions December 31, 2020 2019 (€ in thousands) Employee bonus Liabilities from payroll Accruals for commissions Accrual for warranty Accruals for compensation of supervisory board Accruals for vacation and overtime Accruals for licenses Liabilities from VAT Accrual for restructuring -- Others Total As of December 31, 2020, other liabilities and provisions include kEUR 5 as non-current related to the line item others. The accruals for restructuring as of December 31, 2019 amounting to kEUR 604 related to voxeljet AG (kEUR 453) and voxeljet UK (kEUR 151). For further information, see Note 9 of the consolidated financial statements. (€ in thousands) January 1, 2020 Usage Addition Reversal December 31, 2020 Employee bonus -- Liabilities from payroll -- Accruals for commissions -- Accrual for warranty -- Accruals for compensation of supervisory board -- Accruals for vacation and overtime -- Accruals for licenses -- Accruals for education and training -- -- -- Accrual for restructuring -- -- -- Total -- The Group expects to settle the majority of the other liabilities and provisions over the next year.

Additional disclosures to finan

Additional disclosures to financial instruments	12 Months Ended
	Dec. 31, 2020
Additional disclosures to financial instruments
Additional disclosures to financial instruments	12. Additional disclosures to financial instruments Fair value is the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Group uses the following hierarchy for determining the fair value of financial instruments: · Level 1: Quoted prices of the respective financial asset or financial liability in active markets · Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). · Level 3: Input parameters not based on observable market data Further, for the current year the fair value disclosure of lease liabilities is not required. 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 Assets at Liabilities Total amortized at amortized carrying 12/31/2020 FVTPL FVOCI cost cost amount Level 1 Level 2 Level 3 Total Total assets 5,351 5 20,008 -- 15,360 Current assets 5,351 -- 10,004 -- 15,355 Cash and cash equivalents -- -- 5,324 -- 5,324 Financial assets 5,351 -- -- -- 5,351 2,984 2,367 -- 5,351 Bond funds 984 -- -- -- 984 984 -- -- 984 Bond funds (restricted) 2,000 -- -- -- 2,000 2,000 -- -- 2,000 Derivative financial instruments 2,367 -- -- -- 2,367 -- 2,367 -- 2,367 Trade receivables, net -- -- 4,680 -- 4,680 Non-current assets -- 5 -- -- 5 Financial assets -- 5 -- -- 5 -- -- 5 5 Equity securities -- 5 -- -- 5 -- -- 5 5 Total liabilities 808 -- -- 25,108 29,040 Current liabilities 808 -- -- 20,606 21,726 Trade payables -- -- -- 1,956 1,956 Financial liabilities 808 -- -- 18,650 19,770 -- 808 24,858 25,666 Derivative financial instruments 808 -- -- -- 808 -- 808 -- 808 Long-term debt -- -- -- 18,650 18,650 -- -- 24,858 24,858 Lease liability -- -- -- -- 312 -- -- -- n/a Non-current liabilities -- -- -- 4,502 7,314 Financial liabilities -- -- -- 4,502 7,314 -- -- 4,203 4,203 Long-term debt -- -- -- 4,502 4,502 -- -- 4,203 4,203 Lease liability -- -- -- -- 2,812 -- -- -- n/a Carrying amount Fair Value Assets at Liabilities Total FVTPL FVOCI amortized at amortized carrying 12/31/2019 cost cost amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value Current assets Bond funds (1) 3,667 -- -- -- 3,667 3,667 -- -- 3,667 Bond funds (restricted) (1) 2,000 -- -- -- 2,000 2,000 -- -- 2,000 Note receivable (1) 1,278 -- -- -- 1,278 1,278 -- -- 1,278 Non-current assets Derivative financial instruments (2) 2,274 -- -- -- 2,274 -- 2,274 -- 2,274 Equity securities -- 5 -- -- 5 -- -- 5 5 Financial assets not measured at fair value Current assets Cash and cash equivalents -- -- 4,368 -- 4,368 4,368 -- -- 4,368 Restricted Cash -- -- 463 -- 463 463 -- -- 463 Trade and other receivables -- -- 5,915 -- 5,915 -- -- -- -- Financial liabilities not measured at fair value Current liabilities Long-term debt (3) -- -- -- 10,864 10,864 -- -- 10,858 10,858 Trade payables -- -- -- 2,797 2,797 -- -- -- n/a Non-current liabilities Long-term debt (3) -- -- -- 6,682 6,682 -- -- 6,148 6,148 (1) Comparative figures for the year ended December 31, 2019, were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019, were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (3) Previously presented under level 2. The financial assets with a carrying amount of kEUR 5,356 reported on the Company’s statement of financial position at December 31, 2020 were comprised of investments in two bond funds (kEUR 2,984, thereof kEUR 2,000 restricted), a derivative financial instrument (kEUR 2,367) all reported as current financial assets and equity securities (kEUR 5) reported as a non-current asset. The financial assets with a carrying amount of kEUR 9,687 reported on the Company’s statement of financial position at December 31, 2019 were comprised of investments in four bond funds (kEUR 5,667, thereof kEUR 2,000 restricted), one note receivable (kEUR 1,278) and restricted cash (kEUR 463), all reported as current financial assets, an equity forward (kEUR 2,274) and equity securities (kEUR 5) reported as a non-current asset. The valuation techniques used to value financial instruments include the use of quoted market prices or dealer quotes for similar instruments as well as discounted cash flow analysis. The fair value of the Company’s investments in the bond funds and note receivable was determined based on the quoted unit prices received by the fund management company. The fair value of the derivative financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. The fair values have been determined based on share prices and the discount rates used were adjusted for counterparty or own credit risk. The fair value of long-term debt was determined using discounted cash flow models based on the relevant forward interest rate yield curves, considering the credit risk of voxeljet. Due to their short maturity and the current low level of interest rates, the carrying amounts of cash and cash equivalents, restricted cash, trade receivables, trade payables, credit lines and bank overdrafts approximate fair value. The group’s policy is to recognize transfers into and transfers out of fair value hierarchy levels as at the end of the reporting period. In 2020, there were no transfers of financial instruments measured at fair value between level 1 and level 2. The following table provides an overview of the gains and losses for financial assets and liabilities AC and FVTPL: Year Ended December 31, 2020 (€ in thousands) Financial asset measured at amortized cost Total interest expense Other operating income from change of impairment 182 Other operating income from unrealized foreign currency translation 50 Other operating expense from change of impairment Other operating expense from unrealized foreign currency translation Financial asset measured at fair value through profit or loss 94 Total interest income 171 Total interest expense Other operating income from unrealized foreign currency translation 32 Other operating expense from unrealized foreign currency translation Financial liabilties measured at amortized cost Total interest expense Other operating income from unrealized foreign currency translation 3 Other operating expense from unrealized foreign currency translation Financial liabilties measured at fair value through profit or loss Total interest expense Total The Company has not disclosed prior period information, as management considers it as not material. The following table provides an overview of all outstanding loans voxeljet entered into: December 31, 2020 December 31, 2019 Currency Nominal interest rate Year of maturity Face value Carrying amount Face value Carrying amount (€ in thousands) Secured bank loan EUR -- Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Unsecured bank loan EUR Unsecured bank loan USD Secured bank loan EUR Secured bank loan EUR -- -- Lease liabilities EUR 1.6%-9.3% 2020-2029 Total interest-bearing liabilities The secured bank loans are secured over land and buildings, machinery and equipment and pledged bond funds with a carrying amount of kEUR 15,000 (2019: kEUR 5,000), kEUR 1,104 (2019: kEUR 1,618) and kEUR 2,000 (2019: kEUR 2,000), respectively. In 2016, voxeljet concluded new loan agreements with Kreissparkasse Augsburg, Germany, to finance the construction of new office and production facilities in Friedberg: (i) in February 2016, the Company entered into a € 2.0 million loan agreement due May 31, 2038. Interest is payable at a fixed rate of 2.47%; (ii) in February 2016, the Company entered into a € 1.0 million loan agreement due April 30, 2038. Interest is payable at a fixed rate of 2.72%; (iii) in February 2016, the Company entered into a € 1.0 million loan agreement due April 30, 2040. Interest is payable at a variable rate of 1.75%; (iv) In December 2016, the Company entered into a € 0.5 million loan agreement due July 30, 2038. Interest is payable at a fixed rate of 2.42%; and (v) in December 2016, the Company entered into a € 0.5 million loan agreement due September 30, 2037. Interest is payable at a fixed rate of 2.73%. Among other terms, the loan agreements contain (i) certain covenants, including that voxeljet deposit € 2.0 million with Kreissparkasse Augsburg until it has reached a certain ratio with respect to its ability to service the debt by the end of fiscal year 2019, and (ii) change of control provisions concerning the ownership of the Company by its executive officers, Dr. Ingo Ederer and Rudolf Franz. As of December 31, 2019, voxeljet was in non-compliance with that ratio and therefore pledged € 2.0 million of bond funds for the benefit of the lender. In addition, the land owned by voxeljet upon which the facilities will be built as well as three 3D printers will serve as collateral under the loan agreements. In April 2019, voxeljet entered into a loan agreement with Kreissparkasse Augsburg, Germany, to finance self-manufactured 3D printers which are operated in the German service center amounting to kEUR 500. The maturity date is five years after draw down and the drawn down occurred at the end of April 2019. The fixed interest rate amounts to 2.49%. voxeljet pledged two 3D printers from property plant and equipment as collateral. On November 9, 2017, the EIB and the Company entered into the Finance Contract and a Synthetic Warrant Agreement (the “Synthetic Warrant Agreement”) to support the Company’s undertaking of research and development projects for growth from 2017 to 2020 and beyond. The contract provides a credit of up to € 25 million in three tranches of € 10 million, € 8 million, and € 7 million. Under the Finance Contract, the Company may borrow under the credit up to € 25 million, subject to a limit of 50% of the total research and development expenditures and manufacturing capital expenditures from 2017 to 2020 and beyond. The interest rates for the three tranches are 0%, 7% and 3%, respectively. The Company may borrow the second and third tranche only if certain revenue and EBITDA levels are met. The Finance Contract also includes a financial covenant that requires the Company to meet certain minimum financial ratios from 2019 to 2025. Under a First Demand Guarantee Agreement the Finance Contract is guaranteed by the voxeljet USA subsidiary. At the time the first tranche of € 10 million was received on December 22, 2017, the EIB under the Synthetic Warrant Agreement was entitled to receive as consideration cash equal to the market value of 195,790 ordinary shares of the Company (or equivalent number of ADS of the Company) at the maturity date (5 years after draw down), after the occurrence of a trigger event, or on the expiration date (10 years after draw down). Under the anti-dilution protection clause of the agreement the number of ordinary shares under the Synthetic Warrant Agreement was increased to 254,527 as a result of the capital increase effective October 17, 2018 and November 1, 2018. The Company has breached its Total Net Financial Debt to EBITDA ratio financial covenant and was in non-compliance with the letters of credit limit under the Finance Contract with the EIB as of December 31, 2019, under which the Company has to comply with certain minimum thresholds. As a result of the breach, the Company reclassified the face value of the loan of kEUR 10,000 from a non-current liability to a current liability as of December 31, 2019. After negotiations with the EIB, which started in July 2019, in March 2020, voxeljet received a waiver for the covenant breach in 2019 and also a grace period until March 31, 2021, within which voxeljet could rectify the breach and during which the EIB could not demand immediate repayment. In return, the Company registered a first rank land charge amounting to kEUR 10,000 on its land and facility located in Friedberg, Germany as collateral in favor of the EIB in March 2020. In June 2020, the Company announced that the EIB and voxeljet further expanded their partnership. The EIB disbursed € 5.0 million of the second tranche (tranche B1) of the loan in June 2020 with a bullet repayment after five years. In addition, the EIB and the Company amended the financial covenants in the Finance Contract to replace the Total Net Financial Debt to EBITDA ratio with the Minimum Cash Covenant. As of June 30, 2020, pursuant to the semi-annual financial testing prescribed by the Finance Contract, as amended, the Company was in compliance with the Minimum Cash Covenant. However, in March 2021, the Company discovered that its calculation of cash and cash equivalents for determining compliance with the Minimum Cash Covenant was incorrect and, accordingly, the Company was not in compliance with the Minimum Cash Covenant as of December 31, 2020. Also in March 2021, the Company received a waiver from the EIB for the noncompliance with the Minimum Cash Covenant, pursuant to which (i) the EIB agreed that it will not demand immediate repayment of the outstanding amounts owed and (ii) the EIB and the Company amended the financial covenants in the Finance Contract to clarify the calculation of cash and cash equivalents for determining compliance with the Minimum Cash Covenant. At the time tranche B1 of € 5 million was received in June 2020, the EIB under the Synthetic Warrant Agreement, as last amended on May 29, 2020, was entitled to receive as consideration cash equal to the market value of 404,928 ordinary shares of the Company (or equivalent number of ADS of the Company) at the maturity date (5 years after draw down), after the occurrence of a trigger event, or on the expiration date (10 years after draw down of the first tranche). Related to tranche B1, voxeljet and the EIB also agreed under the Finance Contract, last amended on May 29, 2020, a PIK interest (payment in kind interest) rate of 5% in addition to a 7% fixed interest rate.

Cost of sales

Cost of sales	12 Months Ended
	Dec. 31, 2020
Cost of sales
Cost of sales	13. Cost of sales Cost of sales includes personnel expenses, cost of material, purchased services, cost for finished goods and allocated indirect costs related to production. COST OF SALES Year Ended December 31, 2020 2019 2018 (1) (€ in thousands) Personnel expenses Material costs Depreciation Other expenses Allowance for slow-moving inventory 1 21 417 Total (1) The Company has initially applied IFRS 16 as of January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated and the cumulative effect of initially applying IFRS 16 is recognized in retained earnings at the date of initial application. For further information, see Note 3 “ Summary of significant accounting policies” to the consolidated financial statements. In 2020, other expenses primarily consisted of expenses related to insurances (kEUR 283), cost of maintenance (kEUR 208), travel expenses (kEUR 171), rental and building expenses (kEUR 104) and license fees (kEUR 53). In 2019, other expenses primarily consisted of cost of maintenance (kEUR 535), travel expenses (kEUR 312), expenses related to insurances (kEUR 269) rental and building expenses (kEUR 149) and license fees (kEUR 57). In 2018, other expenses primarily consisted of rental and building expenses (kEUR 491), travel expenses (kEUR 294) and license fees (kEUR 92).

Other operating income and expe

Other operating income and expense	12 Months Ended
	Dec. 31, 2020
Other operating income and expense
Other operating income and expense	14. Other operating income and expense The details of other operating income and expenses are presented for the years reported in the tables below: OTHER OPERATING INCOME Year Ended December 31, 2020 2019 2018 (€ in thousands) Government grant income Amortization of gain on sale and leaseback transactions -- -- Reimbursement of transaction costs Gains from foreign exchange transactions Other Total Other operating income includes an amount of kEUR 75 (2019: kEUR 132, 2018: kEUR 38) for the movement of impairment on trade receivables. OTHER OPERATING EXPENSE Year Ended December 31, 2020 2019 2018 (€ in thousands) Impairment loss on trade receivables Losses from foreign exchange transactions Impairment loss on inventory -- -- Other Total

Financial result

Financial result	12 Months Ended
	Dec. 31, 2020
Financial result
Financial result	15. Financial result The details of financial result are presented for the years reported in the table below: Year Ended December 31, 2020 2019 (1) (2) 2018 (1) (2) (€ in thousands) Interest expense Interest expense on lease liability (2018: Finance lease obligations) Long-term debt Expense from revaluation of derivative financial instruments -- Fair value valuation of financial assets -- Other Interest income 184 318 2,158 Payout of bond funds 78 126 58 Income from revaluation of derivative financial instruments 93 -- 2,065 Fair value valuation of financial assets -- 174 18 Other 13 18 17 Financial result 879 (1) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2020
Income taxes
Income Taxes	16. Income taxes Income taxes consist of the following for the years reported: Income tax (expense) income Year Ended December 31, 2020 2019 (1) (2) 2018 (1) (2) (€ in thousands) Current tax (expense) income -- -- -- Deferred tax (expense) income 88 (39) (64) Total 88 (39) (64) (1) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. Deferred tax assets and liabilities The components of net deferred income taxes at the end of the respective reporting periods were as follows: SOURCES OF DEFERRED TAX ASSETS AND LIABILITIES December 31, 2020 2019 (€ in thousands) Deferred tax assets Deferred tax liabilities Deferred tax assets Deferred tax liabilities Trade receivables -- -- Other receivables and current assets 1,092 1,050 Inventories 16 11 -- Property, Plant & Equipment 5 99 Trade liabilities 429 -- 206 -- Current financial liabilities 1,148 -- 1,020 Current financial assets 65 -- -- Other current liabilities and provisions 239 19 Contract liabilities 762 247 Non-current other assets -- -- -- Non-current financial liabilities 764 -- -- -- Non-current financial assets -- Intangible assets -- -- -- Tax losses carried forward 138 -- 227 -- Valuation allowance -- Tax assets (liabilities) 4,410 2,615 Set off of tax 4,410 2,615 Net tax -- -- At December 31, 2020 voxeljet had gross loss carry‑forwards for corporation tax and trade tax losses of kEUR 49,698 and kEUR 48,630, respectively, for which no deferred taxes have been recognized. These tax losses can be carried forward without restriction for future offset against taxable profits. In addition, there are foreign tax loss carry‑forwards from voxeljet Amercia amounting to kEUR 2,480, also without restriction for future offset against taxable profits. Foreign tax loss carry‑forwards from voxeljet China and voxeljet India amounting to kEUR 3,126 and kEUR 326, which can be carried forward for five and eight years, respectively for future offset against taxable profits. Reconciliation of profit before income taxes to income tax The reconciliation between profit before income taxes and income tax benefit (expense) for the reporting periods presented was as follows: RECONCILIATION OF INCOME TAX BENEFIT (EXPENSE) Year Ended December 31, 2020 2019 (1) (2) 2018 (1) (2) (3) (€ in thousands) Loss before tax Tax expense at prevailing statutory rate (28%) 4,359 3,903 2,431 Non-deductible expenses Non-taxable income 80 -- 242 Tax-rate related differences Unrecognized temporary differences and tax losses Income tax (expense) income 88 (1) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. ( 3 ) The Company has initially applied IFRS 16 as of January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated and the cumulative effect of initially applying IFRS 16 is recognized in retained earnings at the date of initial application. For further information, see Note 3 “ Summary of significant accounting policies” to the consolidated financial statements.

Personnel expenses

Personnel expenses	12 Months Ended
	Dec. 31, 2020
Personnel expenses
Personnel expenses	17. Personnel expenses Personnel expenses included in cost of sales, research and development, and selling and administrative expenses are comprised of the following: PERSONNEL EXPENSES Year Ended December 31, 2020 2019 2018 (€ in thousands) Wages and salaries Employee stock option plan 671 671 604 Social security contributions 2,289 2,710 2,527 Total voxeljet AG offers to its employees a defined contribution plan called “MetallRente”. The contributions paid by the Company amounted to kEUR 65, kEUR 66 and kEUR 61 for the years ended December 31, 2020, 2019 and 2018, respectively and is presented within social security contributions. The employer’s contribution into the mandatory German state plan amounted to kEUR 754, kEUR 889 and kEUR 849 for the years ended December 31, 2020, 2019, and 2018, respectively.

Segment reporting

Segment reporting	12 Months Ended
	Dec. 31, 2020
Segment reporting
Segment reporting	18. Segment reporting voxeljet operates in two reportable segments—Systems and Services—which reflect the internal organizational and management structure according to the distinct nature of the two businesses. The Systems business derives its revenues from the manufacture and sale of 3D printers, from the sale of consumables, as well as from lease, maintenance and extended warranty agreements with customers, while the Services business provides customized printed products to customers. The Management Board of voxeljet is the chief operating decision maker. The chief operating decision maker mainly monitors the Company’s revenues and gross profit, as the performance indicators. The following table summarizes segment reporting for each of the reporting periods ended December 31. As management’s controlling instruments are mainly revenue‑based, the reporting information does not include a detailed breakdown of all assets and liabilities by category. The sum of the amounts for the two segments equals the total for the Company for each of the years presented. SEGMENT REPORTING Year Ended December 31, 2020 (€ in thousands) CONSO SYSTEMS SERVICES LIDATION GROUP Revenues 13,159 9,011 (603) 21,567 third party 12,556 9,011 — 21,567 intra-segment 603 — (603) — Cost of sales (8,115) (6,697) (14,812) Gross profit 4,441 2,314 6,755 Gross profit in % Operating Expenses (18,723) Other operating expenses (2,799) Other operating income 1,603 Operating loss (13,164) Finance expense (2,589) Finance income 184 Financial result (2,405) Loss before income taxes (15,569) Income tax income (expense) 88 Net loss (15,481) Year Ended December 31, 2019 2018 (1) (€ in thousands) SYSTEMS SERVICES SYSTEMS SERVICES Revenues Gross profit Gross profit in % PPE (1) The Company has initially applied IFRS 16 as of January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated and the cumulative effect of initially applying IFRS 16 is recognized in retained earnings at the date of initial application. For further information, see Note 3 “ Summary of significant accounting policies” to the consolidated financial statements. Systems revenues include revenues from the sales of used 3D printers of kEUR 2,328, kEUR 2,007, and kEUR 1,489 for the years ended December 31, 2020, 2019, and 2018, respectively. Geographic information REVENUES BY GEOGRAPHICAL REGION voxeljet’s revenues and non‑current assets are presented below by geographic region. For purposes of this presentation, revenues are based on the geographic location of customers and assets are based on their geographic location. voxeljet’s revenues were generated in the following geographical regions for the years reported: Year Ended December 31, 2020 2019 2018 (€ in thousands) EMEA Germany France Great Britain Others Asia Pacific South Korea China Indonesia Others Americas United States Others Total Revenues generated in the region Asia Pacific included kEUR 1,406 related to Japan for the business year 2020, presented in others. Revenues generated in the region EMEA included kEUR 1,322 related to Russia for the business year 2020, presented in others. NON‑CURRENT ASSETS BY GEOGRAPHICAL REGION December 31, 2020 2019 (1) (2) (€ in thousands) EMEA Germany Great Britain -- Asia Pacific Americas United States Total (1) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements.

Financial risk management

Financial risk management	12 Months Ended
	Dec. 31, 2020
Financial risk management
Financial risk management	19. Financial risk management The Company’s Management Board is responsible for implementing the finance policy and for ongoing financial risk management. Therefore the Management Board has established a Risk Management Committee, which is responsible for developing and monitoring of the Group’s risk management policies, especially regarding financial risks. Generally the committee provides an overview of financial risks on a quarterly basis to the Management Board as part of the Company’s quarterly management reporting procedures. The Company’s principal financial instruments are comprised of short‑term bank deposits at commercial institutions, bond funds, lease obligations and long‑term debt. The main purpose of the financial asset instruments is to provide a return on investments with minimal risk. The Company has other financial assets and liabilities including trade receivables and trade payables, which arise directly from its operations. The main purpose of the financial liability instruments is to fund the Company’s operations and research and development activities. Portions of the long-term debt include two embedded derivative financial instruments, one recorded as a financial assets one recorded as a financial liabilities, related to a future interest payment which are linked to the Company’s stock price (Performance Participation Interest). The main risks arising from the Group’s financial instruments are liquidity risk, foreign exchange risk, credit risk, interest rate risk and equity price risks. The measures taken by Management to manage each of these risks are summarized below. Material transactions related to activities in the area of financial instruments like entering into loan agreements or investments in bond funds require the prior approval of the Chief Financial Officer. The Company did not enter into any derivative financial instruments for hedging purposes in 2020. Management receives a weekly reporting of the current liquidity of the Group by entity. Furthermore, a monthly cash flow plan meeting has been established, where Management reviews the cash forecasts and the future development of flows of funds on an ongoing basis. Foreign exchange risk The Company is exposed to foreign exchange risk to the extent that there is a difference between the currencies in which sales, purchases and borrowings are denominated and the respective functional currencies of subsidiaries of the Group. The functional currencies of the parent company voxeljet AG and its subsidiaries are the Euro, U.S. Dollar, British Pound Sterling, Indian rupee and Chinese yuan renminbi. The majority of the sale, purchase and borrowing transactions are denominated in the functional currency of the parent company or its subsidiaries. The Company’s most significant foreign exchange risk relates to intercompany loans made to subsidiaries, as described below. The Company invoiced 68% in 2020, 62% in 2019 and 70% in 2018 of total revenues in Euro. As revenues in foreign currency usually correspond to costs which are incurred in the same currency, we consider the risk as minor. voxeljet has provided intercompany loans to its subsidiaries to finance their operations. The loans were granted in the local currency of the subsidiaries. Gains and losses from movements in exchange rates are recorded within other operating income or expense in the consolidated statement of comprehensive loss. 2020 the amount loaned to voxeljet UK by voxeljet AG totaled GBP 7.9 million (€ 8.7 million). A relative increase/decrease in the value of the Euro against the British Pound Sterling of 10% would lead to a loss of € 0.8 million/gain of € 1.0 million. As of December 31, 2019 the amount loaned to voxeljet UK by voxeljet AG totaled GBP 7.8 million (€ 9.1 million). A relative increase in the value of the Euro against the British Pound Sterling of 10% would have led to a loss of € 0.8 million. The amount loaned to voxeljet America totaled to USD 9.0 million (€ 7.4 million) as of December 31, 2020. An increase/decrease in the value of the Euro against the U.S. Dollar of 10% would lead to a loss of € 0.7 million/gain of € 0.8 million. As of December 31, 2019 the amount loaned to voxeljet America totaled to USD 5.6 million (€ 5.0 million). An increase in the value of the Euro against the U.S. Dollar of 10% would have led to a loss of € 0.5 million. For the year ended December 31, 2020, voxeljet generated 31.7% of its revenues in the eurozone. Additionally, the majority of the Company’s sourcing transactions are also transacted in Euros in that zone. The significant exchange rates which have been applied during the years presented are disclosed in Note 3. Interest rate risk voxeljet’s principal interest-bearing positions are liabilities for bank borrowings and lease liabilities. These liabilities are entirely at a fixed interest rate, with one exception. As such, changes in market interest rates have no material effect on future interest expenses. A change of 10 base points in interest rates would increase or decrease interest expense by less than kEUR 2. In connection with the first tranche amounting to € 10.0 million and the first portion of the second tranche (tranche B1) amounting to € 5.0 million, both related to the loan received by the EIB, the Company issued in each case a warrant, Performance Participation Interest (PPI), accounted for separately as derivative financial instruments from the host contract (loan financial liability), with changes in fair value reported in the consolidated statements of comprehensive loss until the derivative financial instruments settle or expire. Both portions of the loan are accounted for according to the effective interest method. The effective interest rate of the first tranche is 7.58% and of the first portion of the second tranche is 17.57%. In each case, the effective interest rates were imputed after bifurcation of each embedded derivative financial instrument on the date of the loan disbursement. Changes in the market interest rate will not affect the loan accounting. However, the derivative instruments are affected by changes in the risk-free rate. Increases in the risk-free rate will lead to a decrease of the fair value of the derivative instruments; decreases in the risk-free rate will lead to an increase in the fair value of the derivative instruments. Equity price risk The Company is also exposed to equity price risks which arise from embedded derivative financial instruments (PPI) bifurcated from the loans received by the EIB as mentioned above, which depend upon the Company’s share price. Changes in the Company’s share price will affect the value of the equity forward derivative instruments (increasing share prices as compared to the share price at disbursement date will lead to a negative fair value of the derivatives, decreasing share prices will lead to a positive fair value of the derivatives). An increase/decrease of the price per share by USD 1.00 leads to a decrease/increase of the derivative asset (Tranche A) by approximately kEUR 207. An increase/decrease of the price per share by USD 1.00 leads to a increase/decrease of the derivative liability (Tranche B1) by approximately kEUR 330. Credit risk Credit risk is the risk of the Company suffering a financial loss as the result of its counterparties being unable to perform their obligations. The Company is exposed to credit risk from its operating activities (mainly trade receivables) and from its financing activities, including deposits and investments with financial institutions. Therefore, the carrying amount of cash and cash equivalents, other current financial assets, and trade receivables represents the maximum credit exposure of € 15.4 million (2019: € 17.7 million). The Company’s exposure to credit risk is influenced by the individual characteristics of each customer. However, Management also considers factors that influence the credit risk of its customer base, including the default risk of the industry and the country in which the customer operates. voxeljet seeks to minimize such risk by entering into transactions with counterparties that are believed to be creditworthy business partners or with financial institutions which meet high credit rating requirements. In addition, the portfolio of receivables and customer advances is monitored on a continuous basis. There were no customer loans outstanding as of December 31, 2020 and 2019. Since 2018, the Company calculates an expected credit loss (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. December 31, 2020 Equivalent to external credit rating Weighted-average Gross carrying Impairment loss Net carrying Grades (Standard & Poor’s) loss rate amount allowance amount (€ in thousands) Grades 1-4: Low risk BBB+ to AAA 1,686 2 1,684 Grades 5-7: Fair risk B+ to BBB 2,209 29 2,180 Grades 8-9: Substandard CCC- to B 876 61 815 Grade 10: Doubtful C to CC 2 1 1 Grade 11: Loss D 15 15 4,788 108 4,680 December 31, 2019 Equivalent to external credit rating Weighted-average Gross carrying Impairment loss Net carrying Grades (Standard & Poor’s) loss rate amount allowance amount (€ in thousands) Grades 1-4: Low risk BBB+ to AAA 2,400 4 Grades 5-7: Fair risk B+ to BBB 3,132 42 Grades 8-9: Substandard CCC- to B 233 16 Grade 10: Doubtful C to CC 283 71 Grade 11: Loss D -- -- -- 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 short term credit rating of A‑3 based on Standard & Poor’s or P‑2 based on Moody’s. The bank deposit are held with financial institutions, which are rated BBB to A2 based on Standard & Poor’s and Moody’s. Liquidity risk Liquidity risk is the risk that voxeljet might not have sufficient cash to meet its payment obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the reputation of the Company. Liquidity risk is countered by systematic, day‑by‑day liquidity management whose fundamental requirement is that solvency must be guaranteed at all times. A major responsibility of management is to monitor the cash balances and to set up and update cash planning on a monthly basis to ensure liquidity. At all times cash and cash equivalents are projected on the basis of a regular financial and liquidity planning. The monitoring includes the expected cash inflows on trade and other receivables together with expected cash outflows from trade and other payables and financing liabilities. For further discussion see Note 2. The following are the contractual cash flows of financial liabilities and trade payables at the reporting date. The amounts are gross and undiscounted and include contractual interest payments. December 31, 2020 (€ in thousands) Contractual cash flow carrying amount Total 2 months or less 2-12 months 1-3 years 3-5 years More than 5 years Long-term debt 23,152 Lease liability 3,124 Trade payables 1,956 -- -- -- -- Total 28,232 December 31, 2019 (€ in thousands) Contractual cash flow carrying amount Total 2 months or less 2-12 months 1-3 years 3-5 years More than 5 years Long-term debt 17,546 Lease liability 3,610 Trade payables 2,797 -- -- -- -- Total 23,953 In spite of the significant cash outflow in 2020 and 2019, the Company’s short and mid-term liquidity needs are currently covered. This is supported through the current liquidity forecast including certain sensitivities. The 24-months business plan includes further raising of additional capital through additional debt, equity or other alternatives to ensure the cash requirements of the Company. The cash position of the Company has significantly improved in the first quarter of 2021 due to two successful capital increases in January and February 2021.

Reconciliation of movements of

Reconciliation of movements of liabilities to cash flows arising from financing activities	12 Months Ended
	Dec. 31, 2020
Reconciliation of movements of liabilities to cash flows arising from financing activities
Reconciliation of movements of liabilities to cash flows arising from financing activities	20. Reconciliation of movements of liabilities to cash flows arising from financing activities Liabilities Equity (€ in thousands) Other loans and borrowings Lease liabilities Subscribed capital Capital reserves Accumulated (1) (2) Non-controlling interests Total (1) (2) Balance at January 1, 2020 17,546 3,610 4,836 88,077 (60,124) (13) 53,932 Changes from financing cash flows Proceeds from loans and borrowings 5,000 — — — — — 5,000 Repayment of borrowings (863) — — — — — (863) Payment of lease liabilities — (412) — — — — (412) Total changes from financing cash flows 4,137 (412) — — — — 3,725 Other changes Liability-related New leases — (138) — — — — (138) Reclassification — 22 — — — — 22 Interest expense 1,602 167 — — — — 1,769 Interest paid (133) (125) — — — — (258) Total liability-related other changes 1,469 (74) — — — — 1,395 — Total equity-related other changes — — — 671 (15,339) (142) (14,810) — Balance at December 31, 2020 23,152 3,124 4,836 88,748 (75,463) (155) 44,242 Liabilities Equity (€ in thousands) Other loans and borrowings Finance lease Lease liabilities Subscribed capital Capital reserves Accumulated (1) (2) Non-controlling interests Total (1) (2) Balance at January 1, 2019 17,066 105 — 4,836 86,803 (46,410) 35 62,435 Adjustment on initial application of IFRS 16 — (105) 3,574 — — — — 3,469 Restated balance at January 1, 2019 17,066 — 3,574 4,836 86,803 (46,410) 35 65,904 Changes from financing cash flows Proceeds from loans and borrowings 529 — — — — — — 529 Repayment of borrowings (969) — — — — — — (969) Payment of lease liabilities — — (397) — — — — (397) Proceeds from issuance of shares — — — — — — — — Total changes from financing cash flows (440) — (397) — — — — (837) Other changes Liability-related New leases — — 954 — — — — 954 Reclassification 920 — (521) — — — — 399 Interest expense 993 — 190 — — — — 1,183 Interest paid (993) — (190) — — — — (1,183) Total liability-related other changes 920 — 433 — — — — 1,353 — Total equity-related other changes — — — — 1,274 (13,714) (48) (12,488) — Balance at December 31, 2019 17,546 — 3,610 4,836 88,077 (60,124) (13) 53,932 (1) Comparative figures for the year ended December 31, 2019, were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019, were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements.

Capital management

Capital management	12 Months Ended
	Dec. 31, 2020
Capital management
Capital management	21. Capital management Management’s aim is to maintain a sufficient capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. Equity is monitored by the Company using financial ratios. The equity used as a basis for determining the equity ratio corresponds to the equity disclosed in the Consolidated Statement of Financial Position. voxeljet’s capital structure as of the end of the reporting periods 2020 and 2019 was as follows: CAPITAL STRUCTURE December 31, 2020 2019 (1) (2) (€ in thousands) Equity Share of total equity and liabilities Current financial liabilities Non-current financial liabilities Total financial liabilities Share of total equity and liabilities Total equity and liabilities (1) Comparative figures for the year ended December 31, 2019, were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019, were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. LOAN COVENANTS Under the terms of the major borrowing facilities, voxeljet is required to comply with the following financial covenants: - Maintain a minimum amount of cash and cash equivalents - Maintain a minimum total net financial debt ratio to total equity - Pledge of a certain security deposit The Company has breached the minimum cash and cash equivalents covenant as of December 31, 2020, as described in Note 2.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases
Leases	22. Leases The Group has initially adopted IFRS 16, Leases on January 1, 2019. For further information, see Note 3 “ Summary of significant accounting policies” to the consolidated financial statements. Leases as lessee The Company leases assets, including properties, production equipment and vehicles. As a lessee, the Company previously classified leases as operating or finance leases based on its assessment of whether the lease transferred substantially all of the risks and rewards of ownership. Under IFRS 16, the Company recognizes right-of-use assets and lease liabilities for most leases. These leases are on-balance sheet. However, the Company has elected not to recognize right-of-use assets and lease liabilities for some leases of low-value assets (e.g. tools) as well as short-term leases (leases with less than 12 months of lease term). The Company recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term. Right-of-use assets: Property, plant and equipment Property Production equipment Others Total (€ in thousands) Balance at January 1, 2020 3,658 254 3,984 Depreciation charge of the year Additions to the right-of-use assets 11 -- 159 Derecognition of the right-of-use assets -- -- FX -- Balance at December 31, 2020 2,892 3,191 Amounts recognized in profit or loss: 2020 2019 (€ in thousands) Leases under IFRS 16 Interest on lease liabilities 167 190 Expenses relating to short-term-leases -- 39 Depreciation charge of the year Amounts recognized 2020 2019 (€ in thousands) Total cash outflow for leases Some property leases contain extension options exercisable by the Group up to one year before the end of the non-cancellable contract period. Where practicable, voxeljet seeks to include extension options in new leases to provide operational flexibility. The extension options held are exercisable only by the Group and not by the lessors. The Group assesses at lease commencement date whether it is reasonably certain to exercise the extension options. The Group reassesses whether it is reasonably certain to exercise the options, if there is a significant event or significant changes in circumstances within its control. For all existing extension options, voxeljet assessed that the exercise of those is reasonably certain. Therefore the impact is already included within the lease liabilities. Leases as lessor The Company leases out a small number of 3D printers. Those leases have been classified as operating leases. Lease income from operating lease: 2020 2019 (€ in thousands) Operating lease under IFRS 16 Less than one year -- 38

Commitments, contingent assets

Commitments, contingent assets and liabilities	12 Months Ended
	Dec. 31, 2020
Commitments, contingent assets and liabilities
Commitments, contingent assets and liabilities	23. Commitments, contingent assets and liabilities In connection with the enforcement of voxeljet’s intellectual property rights, the acquisition of third‑party intellectual property rights, or disputes related to the validity or alleged infringement of the Company’s or a third‑party’s intellectual property rights, including patent rights, voxeljet has been and may in the future be subject or party to claims, negotiations or complex, protracted litigation. 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.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2020
Related party transactions
Related party transactions	24. Related party transactions Related party transactions at voxeljet mainly consist of transactions with individuals on the Management Board and Supervisory Board. Key management is defined as those individuals having authority and responsibility for planning, directing and controlling the activities of the Company within their function and within the interest of the Company. The following table presents the amount and components of Management Board compensation: MANAGEMENT COMPENSATION Year Ended December 31, 2020 2019 2018 (€ in thousands) Fixed compensation Variable compensation -- -- -- Compensation from stock option plan Total Management Board remuneration currently consists of a fixed monetary remuneration, other fixed benefits (including Company car allowances and contributions to a defined contribution plan) as well as the participation in a stock options plan, which was executed on April 7, 2017. There were no variable compensations for the years 2018, 2019 and 2020. Ordinary members of the Supervisory Board receive a fixed remuneration in the amount of kEUR 40 per annum. The chairman and vice chairman of the Supervisory Board receive a higher fixed remuneration in the amount of kEUR 80 per annum and kEUR 60 per annum, respectively. If a member of the Supervisory Board does not serve for a full year term, the remuneration is paid pro rata temporis. In 2020, the total remuneration for the Supervisory Board amounted to kEUR 180. Transactions with related parties A related party relationship could have an effect on the profit and loss and financial position of the Company. Defined as related parties are individuals or other third parties with whom voxeljet has common control relationships. OTHER RELATED PARTIES Name Nature of relationship Duration of relationship Franz Industriebeteiligungen AG, Augsburg Lessor 10/01/2003 - Current Schlosserei und Metallbau Ederer, Dießen Supplier 05/01/1999 - Current Andreas Schmid Logistik AG, Gersthofen Supplier 05/01/2017 - Current Suzhou Meimai Fast Manufacturing Technology Co., Ltd, Suzhou Minority shareholder of voxeljet China, Customer 04/11/2016 - Current DSCS Digital Supply Chain Solutions GmbH, Gersthofen Customer 05/11/2017 - Current Michele Neuber Employee 07/01/2019 - Current Transactions with Franz Industriebeteiligungen AG comprise the rental of office space in Augsburg, Germany. Rental expenses amounted to kEUR 3, kEUR 2, and kEUR 2 in 2020, 2019 and 2018, respectively. Further, voxeljet acquired goods amounting to kEUR 0, kEUR 0 and kEUR 7 in 2020, 2019 and 2018, respectively from ‘Schlosserei und Metallbau Ederer’, which is owned by the brother of Dr. Ingo Ederer, the Chief Executive Officer of voxeljet. In addition, voxeljet received logistics services amounting to kEUR 25, kEUR 56 and kEUR 74 in 2020, 2019 and 2018, respectively from ‘Andreas Schmid Logistik’, where voxeljet’s Supervisory Board member Dr. Stefan Söhn served as the Chief Financial Officer until December 2020. Moreover, voxeljet received orders amounting to kEUR 25, kEUR 164 and kEUR 175 in 2020, 2019 and 2018, respectively from ‘ Suzhou Meimai Fast Manufacturing Technology Co., Ltd. , which is our minority shareholder for voxeljet China. Further, voxeljet received orders amounting to kEUR 0, kEUR 13 and kEUR 0 in 2020, 2019 and 2018, respectively from ‘DSCS Digital Supply Chain Solutions GmbH’, which is an associated company of which we own 33.3%. In addition, voxeljet employs Michele Neuber as an intern. Michele Neuber is the son of Volker Neuber, who has been a member of voxeljet’s Supervisory Board since July 2020. He received a salary of kEUR 2 and kEUR 2 in 2020 and 2019, respectively. voxeljet employed Simon Franz, who is the son of voxeljet’s Chief Financial Officer Rudolf Franz, as an intern until July 31, 2019. He received a salary of kEUR 9 and kEUR 12 in 2019 and 2018, respectively. All related party transactions, voxeljet entered into, were made on an arm’s length basis.

Equity

Equity	12 Months Ended
	Dec. 31, 2020
Equity.
Equity	25. Equity At December 31, 2020, 4,836,000 no‑par value ordinary shares were issued and outstanding. There is only a single class of ordinary shares with the same rights, preferences and restrictions. Each share entitles the holder to one vote at the shareholders’ meeting. Shareholders participate in the profits according to their share in the share capital, based on their number of shares held. The general shareholders’ meeting resolves the appropriation of the balance sheet profit established in the annual financial statements and the dividends. On October 18, 2018, voxeljet issued 972,000 ordinary shares, equivalent to 4,860,000 American Depository Shares (“ADS”), at an offering price of $2.57 per ADS (the “Public Offering Price”). The Company received net proceeds of approximately € 9.7 million. Members of the Management Board, who are also significant shareholders, purchased an aggregate number of 233,462 ADSs in this offering at the Public Offering Price. On November 8, 2018, voxeljet closed the over-allotment transaction in which it issued additional 144,000 ordinary shares, equivalent to 720,000 ADSs, upon the exercise of the over-allotment option exercised by the underwriter on November 1, 2018. The Company received net proceeds of approximately € 1.4 million. Incremental costs of € 0.6 million directly attributable to the issue of ordinary shares are recognized as a deduction from equity. On July 31, 2020, the Company announced that it would change the ratio of its ADSs to ordinary shares from each ADS representing one-fifth (1/5) of one ordinary share (5:1) to each ADS representing one ordinary share (1:1). For ADS holders, the ratio change had the same effect as a 1 for 5 reverse ADS split. The ratio change became effective on August 14, 2020 (the “Effective Date”). On the Effective Date, each ADS holder was required to exchange every five (5) ADSs then held for one (1) new ADS (e.g., if a holder of ADSs previously held 50 ADSs, following the ratio change on the Effective Date, such holder helds 10 ADSs). Citibank, N.A., as depositary bank, has arranged for the exchange of the current ADSs for the new ones. There was no change to voxeljet’s underlying ordinary shares. On August 18, 2020, the Company announced that it would voluntarily transfer the listing of the ADSs from the New York Stock Exchange (the “NYSE”) to the NASDAQ, effective August 28, 2020, after market close. voxeljet’s ADSs began trading as a NASDAQ-listed security at market open on August 31, 2020, and have continued to be listed under the ticker symbol “VJET.” Due to the transfer of the listing to the NASDAQ, the Company is no longer subject to the listing requirements of the NYSE. As of December 31, 2020, voxeljet was in compliance with the NASDAQ Listing Rules . The Articles of Association authorize the Management Board, subject to the consent of the Supervisory Board, to increase the Company’s registered share capital in one or more tranches by up to € 1,353,416 by issuing up to 1,353,416 new no-par value ordinary shares against contribution in cash or in kind until May 28, 2024. On January 25, 2021 and on February 17, 2021, the Company completed two registered direct offerings and sold of 621,170 and 443,414 ordinary shares in the form ADS. For further information, see Note 26 “Subsequent events” to the consolidated financial statements.

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2020
Subsequent events
Subsequent events	26. Subsequent events Capital Increases On January 25, 2021, the Company announced that it has completed its registered direct offering and sale of 621,170 ordinary shares in the form of ADS at a purchase price of € 13.33 per share (this equals $16.16 per ordinary share based on the exchange rate as of the close of business in New York on January 14, 2021). The gross proceeds of the offering amount to approximately $10 million (€ 8.3 million) before deducting fees and expenses. The Company intends to use the net proceeds of the offering for general corporate purposes. A.G.P./Alliance Global Partners acted as sole placement agent for the offering. On February 17, 2021, the Company announced that it has completed its registered direct offering and sale of 443,414 ordinary shares in the form of ADS at a purchase price of The gross proceeds of the offering amount to approximately $12 million (€ 9.9 million) before deducting fees and expenses. The Company intends to use the net proceeds of the offering for general corporate purposes. A.G.P./Alliance Global Partners acted as sole placement agent for the offering. After those two capital increases, the number of outstanding shares of the Company as of March 1, 2021 amounts to 5,900,584. Based on this number of shares, loss per share – basic and diluted – for fiscal year 2020 amounts to € 2.61. Finance Contract Debt Covenant In June 2020, the Company announced that the EIB and voxeljet further expanded their partnership. The EIB disbursed € 5.0 million of the second tranche (tranche B1) of the loan in June 2020 with a bullet repayment after five years. In addition, the EIB and the Company amended the financial covenants in the Finance Contract to replace the Total Net Financial Debt to EBITDA ratio with the Minimum Cash Covenant. As of June 30, 2020, pursuant to the semi-annual financial testing prescribed by the Finance Contract, as amended, the Company was in compliance with the Minimum Cash Covenant. However, in March 2021, the Company discovered that its calculation of cash and cash equivalents for determining compliance with the Minimum Cash Covenant was incorrect and, accordingly, the Company was not in compliance with the Minimum Cash Covenant as of December 31, 2020. Also in March 2021, the Company received a waiver from the EIB for the noncompliance with the Minimum Cash Covenant, pursuant to which (i) the EIB agreed that it will not demand immediate repayment of the outstanding amounts owed and (ii) the EIB and the Company amended the financial covenants in the Finance Contract to clarify the calculation of cash and cash equivalents for determining compliance with the Minimum Cash Covenant.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2020
Summary of significant accounting policies
Consolidation	Consolidation Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Intercompany balances and transactions are eliminated in preparing the consolidated financial statements. A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Interests in the joint venture are accounted for using the equity method. They are initially recognized at cost, which includes transaction costs. Subsequent to initial recognition, the consolidated financial statements include the Group’s share of the profit or loss and other comprehensive income of equity-accounted investees, until the date on which significant influence or joint control ceases.
Revenues from contracts with customers	Revenues from contracts with customers Under IFRS 15, the Company recognizes revenue on the maintenance contracts based on the input method, such as the number of service visits or the provision of certain goods, in particular printheads, to measure the progress that depicts the transfer of control of the goods or services to the customer toward complete satisfaction of a performance obligation over time. 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. Revenue on the sale of new or refurbished 3D printers is recognized at the point in time after completed installation of 3D printers at the customer site and evidenced through final acceptance by the customer. Customers obtain control of the 3D printers when the customers have accepted the assets. Refurbished 3D printers usually were produced for and used in our Services segment. On average, these refurbished printers have been operating within a voxeljet service center for 1.5 to 2.5 years prior to their sale. Before these 3D printers are sold, they are fully refurbished and a new printhead is installed. The cost of sales include the residual value as well as the costs related to the refurbishment. The Group provides customers with statutory warranty on all 3D printers for one year. The warranty presents assurance-type warranty and is not treated as a separate performance obligation. After the initial one-year warranty period, the Group offers its customers optional maintenance contracts, which are accounted for as separate performance obligations. The Company, from time to time, offers to customers, to operate their purchased 3D printer and perform 3D printing on custom-ordered printed products for a temporary period before the customers’ facility is configured according to required technical specifications. The Company recognizes revenue for the use of space on Company premises over time under the term of the contracts. The Company recognizes revenue from the sale of customized printed products from the customer’s purchased 3D printer, upon transfer of control of ownership to the customers, generally upon shipment. Revenue on the sale of customized printed products is recognized at the point in time when the control of ownership of the assets is transferred to the customers, generally upon shipment. Shipping, packaging and handling costs billed to customers for the sales of customized printed products and consumables are not considered as a separate performance obligation. The Company recognized the gross revenue at the point in time as the service is provided, i.e. upon shipment. Costs incurred by the Company associated with shipping, packaging and handling are included in selling expenses in the consolidated statements of comprehensive loss. Invoices from revenue streams, besides the sale of new or refurbished 3D printers are usually payable within 30 to 60 days. The Company also recognizes that longer payment periods are customary in some countries where it transacts business. To reduce credit risk in connection with machine sales, the Company may, depending upon the circumstances, requires advance payments prior to shipment. On the sale of new or refurbished 3D printers, the Company generally require advance payments prior to shipment and requires international customers to furnish letters of credit. These advance payments are recognized as contract liabilities. Maintenance contracts are generally billed to customers in advance on a monthly, quarterly, or annual basis, and are initially recorded as a contract liability as the Company has an enforceable right to payment after the contract has been signed. It is the Group’s policy that it does not offer products to the end customer with a right of return. Therefore, neither a refund liability nor a right to the returned goods are recognized. A contract liability is recognized when the Company has received consideration (i.e. advance payment) from customers before satisfying a performance obligation or has an unconditional right to payment under a non-cancellable contract before it transfers the related goods or services to the customer under maintenance and extended warranty contracts. The extended warranty is considered as service-type warranty and therefore accounted as a separate performance obligation. The contract liabilities primarily relate to (1) the advance consideration received from customers before satisfying a performance obligation, or an unconditional right to payment under a non-cancellable contract before it transfers the related goods or services to the customer under maintenance contracts, for which revenue is recognized over time; and (2) the advance consideration received from customers for the sale of new or refurbished 3D printers, for which revenue is recognized when the customer has accepted the assets. The total amount of unfulfilled performance obligations for 3D printer sales is € 6.8 million. The Company expects to realize the entire amount in 2021. The amount of kEUR 772 included in contract liabilities at December 31, 2019 has been recognized as revenue in 2020 (2019: kEUR 584). Management expects that 96% (kEUR 2,794 ) of the transaction price allocated to unsatisfied performance obligations as of December 31, 2020 will be recognized as revenue during the next reporting period. The remaining 4% (kEUR 117) will be recognised in the 2022 financial year. In the following table, revenue from contracts with customers is disaggregated by primary geographical market, and timing of revenue recognition. The table also includes a reconciliation of the disaggregated revenue with the Group’s reportable segments (see Note 18). Year ended December 31, SYSTEMS SERVICES 2020 2019 2018 2020 2019 2018 Primary geographical markets EMEA Asia Pacific Americas Timing of revenue recognition Products transferred at a point in time Products and services transferred over time -- -- -- Revenue from contracts with customers In 2020, voxeljet leased one 3D printer (2019: two 3D printers and 2018: two 3D printer) to customers under operating leases. Rental income is recognized on a straight‑line basis over the term of the lease as revenue and is reported within the Systems segment.
Financial instruments	Financial instruments Financial instruments are contracts that give rise to a financial asset in one entity and a financial liability or equity instrument in another entity. voxeljet recognizes financial assets and financial liabilities in the balance sheet when an entity of the Group becomes a contractual party to the financial instrument. All customary purchases and sales of financial assets are recognized on the trading date, i.e. the date on which the Company enters into the obligation to purchase the asset. Financial assets and financial liabilities are generally reported at gross value. Netting only applies if the offsetting of the amounts is legally enforceable and it is intended to actually offset them. In general, voxeljet does not intend to offset any amounts. Initial measurement At initial recognition, voxeljet measures a financial asset at its fair value plus, in the case of a financial asset at fair value through other comprehensive income, transactions costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed immediately. Financial liabilities are initially assigned to one of the following valuation categories in accordance with IFRS 9, measured at amortized cost or measured at fair value through profit or loss. Subsequent measurement The subsequent measurement of voxeljet's financial assets is based on their classification: - at amortized cost: interest income from these financial assets is reported in the financial income using the effective interest method. Gains and losses on derecognition are recorded in the income statement and, considering related foreign currency gains and losses, reported under other operating income and expenses, - at fair value through profit or loss: Gains or losses of derivative financial instruments and short term investments, which are subsequently measured at fair value through profit or loss, are included in the income statement as interest income or interest expense in the period in which they arise. The subsequent measurement of voxeljet’s financial liabilities depends on their classification as follows: - financial liabilities at fair value through profit or loss: This category includes derivative financial instruments that are not designated as hedging instruments in accordance with IFRS 9 hedge accounting rules. Gains and losses are recognized in the income statement. - Financial liabilities measured at amortized cost: This category includes trade payables and interest-bearing loans. After initial recognition, these are measured at amortized cost using the effective interest method. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as in case of amortization using the effective interest method. Amortization according to the effective interest method is included in interest expenses in the profit and loss account. Derecognition voxeljet derecognizes financial assets (or parts of their financial assets where applicable) when the rights to receive cash flows from the financial asset have expired or have been transferred and the Group substantially transferred all opportunities and risks associated with the ownership. A financial liability is derecognized when the obligation under the liability is settled, cancelled or expired. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, this exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability. In case of minor changes in conditions a change in the present value will be considered in profit or loss. 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 replaced IAS 39, Financial Instruments. The Company has applied the 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. The details of accounting policies under IFRS 9 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 (AC), 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 (AC) 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 (FVOCI). 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, initially our short-term investments in bond funds were classified as fair value through other comprehensive income (FVOCI). In the first quarter of 2020, we amended our classification of short-term investments included in current financial assets as FVTPL. For further information, see Note 2. voxeljet assesses expected future credit losses associated with financial assets measured at amortized cost based on future expectations. A respective risk provision or, in case of an actual loss that already occurred, an impairment loss is recognized. - General approach: Generally, financial assets are considered as having a low default risk at initial recognition resulting in a 12-month expected credit loss provision. In case of a significant increase in credit risk, the lifetime expected credit losses are recognized. Amongst others debtor’s payment delays of more than 90 days are considered as an indicator for increase in default risk. Further, when determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, voxeljet 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. - Simplified approach: For trade receivables with no significant financing component voxeljet applies the simplified approach, which requires lifetime expected credit losses to be recognized from initial recognition of the receivables. In order to measure expected credit losses, trade receivables are summarized on the basis of common credit risk characteristics and overdue days. The expected credit losses are based both quantitative and qualitative information and analysis, based on the Group’s historical experience and informed credit assessment and including forward-looking information. A default on a financial asset is when the counterparty fails to make contractual payments within 90 days of when they fall due and there are no information available, which are contradictory e.g. the counterparty commits the payment to a later time or the Company and the counterparty agreed upon a payment plan. Financial assets are written off when there is no reasonable expectation of recovery, such as a debtor failing to engage in a repayment plan with the Company or a counterparty had declared insolvency. Where loans or receivables have been written off, the Company continues to engage in enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognised in profit or loss. 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. Trade receivables The Company considers trade receivables which are in default individually prior to the application of the ECL model to the remaining population. 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 of 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. 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 or other operating income. Impact of the impairment model For assets in the scope of the IFRS 9 impairment model, impairment losses are generally expected to increase and become more volatile. For information about the exposure to credit risk and ECLs for trade receivables as of December 31, 2020 and 2019, please refer to Note 19.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents are short‑term bank deposits and are not subject to a significant risk of change in value due to the excellent ratings of those banks to which voxeljet entrusted its funds.
Leases	Leases The Group has initially adopted IFRS 16 Leases from January 1, 2019. IFRS 16 introduced a single, on-balance sheet accounting model for lessees. As a result, the Group, as a lessee, has recognized right-of-use assets representing its rights to use the underlying assets and lease liabilities representing its obligation to make lease payments. Lessor accounting remains similar to previous accounting policies. The Group has applied IFRS 16 using the modified retrospective approach, under which the cumulative effect of initial application is recognized in retained earnings as of January 1, 2019. Accordingly, the comparative information presented for 2018 has not been restated and is therefore presented as previously reported, under IAS 17 and related interpretations. The details of changes in accounting are disclosed below. Additionally, the disclosure requirements in IFRS 16 have not generally been applied to the comparative information. Definition of a lease Previously, the Company determined at contract inception whether an arrangement was or contained a lease under IFRIC 4 Determining Whether an Arrangement contains a Lease. The Company now assesses whether a contract is or contains a lease based on the new definition of a lease. Under IFRS 16, a contract is, or contains, a lease if the contract conveys a right to control the use of an identified asset for a period of time in exchange for consideration. On transition to IFRS 16, the Company elected to apply the practical expedient to grandfather the assessment of which transactions are leases. It applies IFRS 16 only to contracts that were previously identified as leases. Contracts that were not identified as leases under IAS 17 and IFRIC 4 were not reassessed. Therefore, the definition of a lease under IFRS 16 has been applied only to contracts entered into or changed on or after January 1, 2019. At inception or on reassessment of a contract that contains a lease component, the Company allocates the consideration in the contract to each lease and non-lease component on the basis of their relative stand-alone prices. The Company as a lessee The Company leases assets, including properties, production equipment and vehicles. As a lessee, the Company previously classified leases as operating or finance leases based on its assessment of whether the lease transferred substantially all of the risks and rewards of ownership. Under IFRS 16, the Company recognizes right-of-use assets and lease liabilities for most leases. These leases are on-balance sheet. However, the Company has elected not to recognize right-of-use assets and lease liabilities for some leases of low-value assets (e.g. tools) as well as short-term leases (leases with less than 12 months of lease term). The Company recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term. The Company presents right-of-use assets in “property, plant and equipment”, in the same line item as it presents underlying assets of the same nature that it owns. The carrying amounts of right-of-use assets are as below: Property, plant and equipment Property Production equipment Others Total (€ in thousands) Balance at January 1, 2020 3,658 72 3,984 Balance at December 31, 2020 2,892 45 3,191 The Company presents lease liabilities within “financial liabilities” in the condensed consolidated statements of financial position. Leases under IFRS 16 The Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at an amount equal to the lease liability, and subsequently at cost less any accumulated depreciation and impairment losses, and adjusted for certain remeasurements of the lease liability. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the Company’s incremental borrowing rate. The lease liability is subsequently measured at amortized cost using the effective interest method. It is remeasured when there is a change in the future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether it will exercise a purchase, extension or termination option. The Company has applied judgement to determine the lease term for some lease contracts in which it is a lessee that include renewal options. The assessment of whether the Company is reasonably certain to exercise such options impacts the lease term, which significantly affects the amount of lease liabilities and right-of-use assets recognized. Transition Previously, the Company classified property plant and equipment leases as operating leases under IAS 17. These include manufacturing facilities. The leases typically run for a period of three to ten years. Some leases include an option to renew the lease for an additional three to five years after the end of the non-cancelable period. At transition, for leases classified as operating leases under IAS 17, lease liabilities were measured at the present value of the remaining lease payments, discounted at the Company’s incremental borrowing rates for similar assets as of January 1, 2019. Right-of-use assets are measured at an amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments. The Company used the following practical expedients when applying IFRS 16 to leases previously classified as operating leases under IAS 17: - Applied a single discount rate to a portfolio of leases with reasonably similar characteristics. - Applied the exemption not to recognize right-of-use assets and liabilities for leases with less than 12 months of lease term. - Used hindsight when determining the lease term if the contract contains options to extend or terminate the lease. The Company leases a small number of items of production equipment. These leases were classified as finance leases under IAS 17. For these finance leases, the carrying amount of the right-of-use asset and the lease liability at January 1, 2019 were determined at the carrying amount of the lease asset and lease liability under IAS 17 immediately before that date. The Company as a lessor The Company leases out a small number of 3D printers. Those leases have been classified as operating leases. The accounting policies applicable to the Company as a lessor are not different from those under IAS 17. The Company is not required to make any adjustments on transition to IFRS 16 for leases in which it acts as a lessor. Impacts on financial statements Impacts on transition On transition to IFRS 16, the Company recognized additional right-of-use assets, including property, plant and equipment and additional lease liabilities. The impact on transition is summarized below. Impact on adopting IFRS 16 at January 1, 2019 (€ in thousands) Right-of-use assets presented in property plant and equipment 3,501 Lease liabilities as presented in financial liabilities 3,574 When measuring lease liabilities for leases that were classified as operating lease, the Company discounted lease payments using its incremental borrowing rates as of January 1, 2019. The weighted-average rate applied was 4.55%. January 1, 2019 (€ in thousands) Operating lease commitment at December 31, 2018, as disclosed in the Group's consolidated financial statements 2,584 Discounted using the incremental borrowing rate at January 1, 2019 2,021 Finance lease liability recognized as at December 31, 2018 105 Recognition exemption for leases with less than 12 months of lease term at transition Extension options reasonably certain to be exercised Lease liabilities recognized at January 1, 2019 Impacts for the period As a result of applying IFRS 16, in relation to the leases that were previously classified as operating leases, as of December 31, 2020, the Company recognized kEUR 3,191 of right-of-use assets (as of December 2019: kEUR 3,984) and kEUR 3,124 of lease liabilities (as of December 31, 2019: kEUR 3,610). Also in relation to those leases under IFRS 16, the Company has recognized depreciation and interest costs, instead of operating lease expenses. During the twelve months ended December 31, 2020, the Company recognized kEUR 682 (2019: kEUR 765) of depreciation expenses and kEUR 167 (2019: kEUR 190) of interest expense from these leases. Within the statement of cash flows, cash payments for the principal portion of lease payments, as well as for the interest portion, have been classified as financing activities. Payments for short-term leases have been classified as operating activities.
Research and development expense	Research and development expenses All research and development costs are charged to expense as incurred as the criteria set forth in IAS 38 for capitalizing such costs have not yet been met.
Government grants	Government grants Government grants awarded for project funding are recorded within other operating income in the consolidated statement of comprehensive loss if the related research and development costs have been incurred and provided that the conditions for the funding have been met. Until then, amounts received under government grants are recorded as deferred income in the statements of financial position. Government grants in connection with government assistance to help businesses to mitigate adverse impacts from the COVID-19 global pandemic are recognized in profit or loss on a systematic basis over the periods in which the entity recognizes as expenses the related costs for which the grants are intended to compensate, provided that the entity complies with the conditions for the funding.
Employee stock option plan	Employee stock option plan In April 2017, the Supervisory Board adopted and approved Option Plan 2017. The plan authorizes to grant shares of equity-settled stock options to employees and members of the management board. The Company’s stock-based compensation expense is estimated at the grant date based on the fair value of the award and is recognized as expense ratably over the requisite service period of the award. The Company calculates the fair value of each option award on the date of grant under the Monte Carlo simulation model. The determination of the grant date fair value of the awards using a simulation model is affected by our stock price as well as assumptions regarding a number of complex and subjective variables. These variables include the expected stock price volatility over the expected life of the awards, risk-free interest rates, and expected dividends. The risk free interest rate is equal to the U.S. Treasury constant maturity rates for the period equal to the expected life. The Company does not currently pay cash dividends on common stock and does not anticipate doing so in the foreseeable future. Accordingly, the expected dividend yield is zero.
Foreign currencies	Foreign currencies The financial statements are presented in Euros, the functional currency of voxeljet AG. Monetary transactions denominated in foreign currencies are translated to Euros at the exchange rates prevailing on the transaction date. Gains and losses on foreign currency transactions are shown within other operating income and other operating expenses, respectively, in the consolidated statement of comprehensive loss. The financial statements of foreign subsidiaries are translated using the concept of the functional currency in accordance with IAS 21. The assets and liabilities of foreign subsidiaries are translated at the spot rate at the end of the period, while their income statement items are translated at average exchange rates for the respective periods. All resulting exchange differences are recognized in other comprehensive income. Gains and losses on foreign currency transactions are shown within other operating income and other operating expenses, respectively, in the consolidated statement of comprehensive loss. The loans provided to voxeljet AG’s subsidiaries are not considered as net investments in foreign operations. Therefore, gains or losses from foreign exchange differences thereon are recognized in the statement of comprehensive loss as “other operating income or expenses”. The exchange rates that are most relevant for voxeljet’s consolidated financial statements are as follows: Average exchange rates to Euro December 31, Average Rate USD GBP INR CNY 2020 1.1422 0.8897 84.6392 7.8747 2019 1.1195 0.8778 78.8361 7.7355 2018 1.1810 0.8847 80.7332 7.8081 Year end exchange rates to Euro December 31, Year End Rate USD GBP INR CNY 2020 1.2271 0.8990 89.6605 8.0225 2019 1.1234 0.8508 80.1870 7.8205
Income Tax	Income Tax Income tax expense (benefit) consists of current and deferred tax expense and benefit in accordance with IAS 12. Current income tax expense (benefit) is based on taxable profit (loss) for the year. Taxable profit (loss) differs from profit (loss) as reported in the statements of comprehensive income (loss) because it excludes items of income or expense that are taxable or deductible in other years and further excludes items that are never taxable or deductible. Current income tax expense (benefit) is calculated using tax rates that have been enacted or substantively enacted by the end of the respective reporting period. Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. The amount of the current tax payable or receivable is the best estimate of the tax amount to be paid or received that reflects uncertainty related to income tax, if any. It is measured using tax rates enacted or substantively enacted at the reporting date. Deferred income tax expense (benefit) is recognized on temporary differences between the carrying amounts of assets and liabilities in the statement of financial position and the corresponding tax basis used in the computation of taxable profit (loss). Deferred tax liabilities are generally recognized for all taxable temporary differences and deferred tax assets, including for carry forward losses to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilized. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer more probable than not that sufficient taxable profits will be available to allow all or a part of the assets to be recovered. Deferred tax expense (benefit) is calculated at the tax rates that are expected to apply in the periods when the liability is settled or the asset is realized, based on tax rates (and tax regulations) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred tax expense (benefit) is charged or credited to profit or loss, except when it relates to items charged or credited directly to equity, in which case the deferred taxation is also recorded to equity. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off tax assets against tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.
Intangible Assets	Intangible Assets Intangible assets, including software and licenses, that are acquired by the Company and have a finite useful life are measured at cost less accumulated amortization and any impairment losses. Amortization for intangible assets with finite useful lives is recognized on a straight‑line basis over their useful lives. The amortization of licenses is allocated to the cost of inventory and is included in cost of sales as 3D printers are sold; the amortization of software is mainly included in selling and administrative expenses. The estimated useful economic lives of acquired intangible assets are presented in the following table: USEFUL LIFE OF INTANGIBLE ASSETS Software 3-5 years Licenses 6-8 years An intangible asset is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the item) is included in profit or loss in the period in which the item is derecognized.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment is carried at acquisition or manufacturing cost (for internally manufactured printers used in the Services segment or the research and development function) and depreciated on a straight‑line basis over the estimated useful lives of the related assets, taking into account estimated residual values. Except the sale of used printers, realized gains and losses are recognized upon disposal or retirement of the related assets and are reflected within other operating income or other operating expenses in the consolidated statement of comprehensive loss. Subsequent expenditures are capitalized only if it is probable that voxeljet will receive additional economic benefits from the particular asset associated with these expenditures, and the costs can be determined reliably. In those cases the assets are depreciated over their useful lives. Repair and maintenance expenditures are expensed as incurred. Land is not depreciated. Additions to property, plant and equipment relating to self‑constructed 3D printers are considered non‑cash transactions. The estimated useful economic lives of items of property, plant and equipment are as follows: USEFUL LIFE OF PROPERTY, PLANT AND EQUIPMENT Leasehold improvements 6-9 years Buildings 33 years Plant and machinery 7-8 years Printers leased to customers under operating lease 7-8 years Other facilities, machinery and factory equipment 2-20 years Office equipment 3-12 years Useful lives, depreciation methods and residual values are reviewed at least annually and, if they change significantly, depreciation charges for current and future periods are adjusted accordingly.
Inventories	Inventories Raw materials and merchandise Raw materials are measured at the lower of acquisition cost, as determined on the weighted average costs method, and net realizable value. Obsolete inventories are written off directly into cost of sales. Work in progress Work in progress is measured at the lower of manufacturing cost and net realizable value. Manufacturing costs comprise all costs that are directly attributable to the manufacturing process, such as direct material and labor, and production related overheads (based on normal operating capacity and normal consumption of material, labor and other production costs), including depreciation charges. Net realizable value is defined as the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs of the sale. For purposes of determining net realizable value, selling expenses include all costs expected to be incurred to make the sale, primarily shipping, packaging and handling as well as commissions. We also use our own printers in our service centers. Unfinished printers are generally available to be sold if a customer requests a product with a specification which can be met by one of the products in progress. Accordingly, we classify printers as inventory until we remove a finished printer from our manufacturing warehouse to use it in a service center. The reclassification as property, plant and equipment, as a non-cash transaction, occurs at cost and depreciation starts at inception of service. We evaluate the adequacy of our inventory reserves on a periodic basis in order to determine the need for an inventory reserve.
Impairment of non-financial assets	Impairment of non‑financial assets The Company continuously assesses or if there is a triggering event like t he COVID-19 situation whether there is an indication that a non‑financial asset may be impaired. Such assets are tested for impairment if there are indicators that the carrying amounts may not be recoverable. An impairment loss is recognized in the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is defined as the higher of an asset’s fair value less cost to sell and its value in use. As individual assets do not generate largely independent cash flows, impairment testing is performed at the cash generating unit level. An individual fixed asset within a CGU cannot be written down below fair value less cost incurred to sell the individual asset.
Earnings (loss) per share	Earnings (loss) per share Basic earnings per share amounts are calculated by dividing profit (loss) by the weighted average number of ordinary shares outstanding. There are no dilutive instruments issued and outstanding. 2020 2019 (in thousands of shares) Weighted-average number of ordinary shares at 31 December 4,836 4,836

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2020
Initial application
Schedule of disaggregated revenue with reportable segments	Year ended December 31, SYSTEMS SERVICES 2020 2019 2018 2020 2019 2018 Primary geographical markets EMEA Asia Pacific Americas Timing of revenue recognition Products transferred at a point in time Products and services transferred over time -- -- -- Revenue from contracts with customers
Schedule of carrying amount of right-of use assets	Property, plant and equipment Property Production equipment Others Total (€ in thousands) Balance at January 1, 2020 3,658 254 3,984 Depreciation charge of the year Additions to the right-of-use assets 11 -- 159 Derecognition of the right-of-use assets -- -- FX -- Balance at December 31, 2020 2,892 3,191
Schedule of impact on transition	Impact on adopting IFRS 16 at January 1, 2019 (€ in thousands) Right-of-use assets presented in property plant and equipment 3,501 Lease liabilities as presented in financial liabilities 3,574
Schedule of operating lease commitment to lease liabilities	January 1, 2019 (€ in thousands) Operating lease commitment at December 31, 2018, as disclosed in the Group's consolidated financial statements 2,584 Discounted using the incremental borrowing rate at January 1, 2019 2,021 Finance lease liability recognized as at December 31, 2018 105 Recognition exemption for leases with less than 12 months of lease term at transition Extension options reasonably certain to be exercised Lease liabilities recognized at January 1, 2019
Schedule of exchange rates	Average exchange rates to Euro December 31, Average Rate USD GBP INR CNY 2020 1.1422 0.8897 84.6392 7.8747 2019 1.1195 0.8778 78.8361 7.7355 2018 1.1810 0.8847 80.7332 7.8081 Year end exchange rates to Euro December 31, Year End Rate USD GBP INR CNY 2020 1.2271 0.8990 89.6605 8.0225 2019 1.1234 0.8508 80.1870 7.8205
Useful life of intangible assets	Software 3-5 years Licenses 6-8 years
Useful life of property, plant and equipment	Leasehold improvements 6-9 years Buildings 33 years Plant and machinery 7-8 years Printers leased to customers under operating lease 7-8 years Other facilities, machinery and factory equipment 2-20 years Office equipment 3-12 years
Schedule of weighted average number of ordinary shares outstanding	2020 2019 (in thousands of shares) Weighted-average number of ordinary shares at 31 December 4,836 4,836
Application of IFRS 16
Initial application
Schedule of carrying amount of right-of use assets	Property, plant and equipment Property Production equipment Others Total (€ in thousands) Balance at January 1, 2020 3,658 72 3,984 Balance at December 31, 2020 2,892 45 3,191

Share based payment arrangeme_2

Share based payment arrangements (Tables)	12 Months Ended
	Dec. 31, 2020
Share based payment arrangements
Schedule of fair value inputs	Tranche 1 Tranche 2 Parameter Share price at grant date USD 13.80 USD 16.15 Exercise price USD 13.90 USD 16.15 Expected volatility 55.00% 58.40% Expected dividends -- -- Risk-free interest rate 2.49% 2.85% Fair value at grant date USD 8.00 USD 9.74
Schedule of option activity	December 31, 2020 2019 Number of options Weighted-average exercise price (USD) Number of options Weighted-average exercise price (USD) Outstanding at January 1 Granted during the year -- -- -- -- Exercised during the year -- -- -- -- Forfeited during the year -- -- -- -- Outstanding at December 31 Exercisable at December 31 -- -- -- --
Summarized subsidiary financial information	December 31, 2020 (€ in thousands) voxeljet China Co. Ltd. Summarized balance sheet Current assets 2,603 Current liabilities 4,351 Current net liabilities 1,748 Non-current assets 1,831 Non-current liabilities 852 Non-current net assets 979 Net liabilities 769 Accumulated NCI Year Ended December 31, 2020 (€ in thousands) voxeljet China Co. Ltd. Summarized statement of comprehensive income Revenue 2,179 Loss for the period Other comprehensive income -- Total comprehensive loss Loss allocated to NCI Year Ended December 31, 2020 (€ in thousands) voxeljet China Co. Ltd. Summarized cash flows Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities 963 Net increase/ (decrease) in cash and cash equivalents

Trade receivables (Tables)

Trade receivables (Tables)	12 Months Ended
	Dec. 31, 2020
Trade receivables.
Change in the allowance for doubtful accounts	Year Ended December 31, 2020 2019 (€ in thousands) Balance at beginning of period 187 383 Provisions 52 38 Write-offs Release to income Balance at end of period 183 187

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Inventories
Inventories by category	December 31, 2020 2019 (€ in thousands) Raw materials Work in progress Total

Restructuring (Tables)

Restructuring (Tables)	12 Months Ended
	Dec. 31, 2020
voxeljet AG
Disclosure of subsidiaries [line items]
Summary of amounts related to restructuring charges	Twelve months ended December 31, 2019 Line items in statement of comprehensive loss / Components of restructuring charges (€ in thousands) Cost of sales 302 Employee termination costs 302 Selling expenses 77 Employee termination costs 77 Administrative expenses 45 Employee termination costs 45 Research and development expenses 29 Employee termination costs 29 Impact of restructuring 453
voxeljet UK
Disclosure of subsidiaries [line items]
Summary of amounts related to restructuring charges	Twelve months ended December 31, 2019 Line items in statement of comprehensive loss / Components of restructuring charges (€ in thousands) Cost of sales 312 Loss on disposal of assets 226 Employee termination costs 67 Impairment of Inventories 19 Selling expenses 42 Loss on disposal of assets 20 Employee termination costs 16 Write-off right-of-use asset 6 Administrative expenses 274 Loss on disposal of assets 81 Employee termination costs 35 Lease maintenance costs 100 Settlement of agreements 14 Legal Consulting 25 Write-off right-of-use asset 19 Impact of restructuring 628

Intangible assets and propert_2

Intangible assets and property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Intangible assets and property, plant and equipment
Schedule of intangible assets	December 31, 2020 2019 (€ in thousands) Software Licenses Prepayments made on intangible assets Total
Schedule of property, plant and equipment	December 31, 2020 2019 (€ in thousands) Land, buildings and leasehold improvements Plant and machinery Other facilities, factory and office equipment Assets under construction and prepayments made Total Thereof pledged assets of Property, Plant and Equipment
Composition of, and annual movement in, intangible assets and property, plant and equipment	2020 (€ in thousands) Acquisition and manufacturing cost Accumulated depreciation and amortization Carrying amount 01/01/2020 Additions Disposals Transfer FX 12/31/2020 01/01/2020 Current year Disposals FX 12/31/2020 12/31/2020 Intangible assets Software 1,551 69 26 454 2,046 940 327 26 (1) 1,240 806 Licenses 245 -- -- -- -- 245 162 27 -- -- 189 56 Prepayments made on intangible assets 662 89 16 -- 281 -- -- -- -- -- 281 Total 2,458 158 42 0 2,572 1,102 354 26 1,429 1,143 Property, plant and equipment Land, buildings and leasehold improvements 22,885 13 65 -- 22,463 2,840 1,001 2 3,765 18,698 Plant and machinery 14,032 752 4,595 -- 9,660 8,253 1,551 3,921 5,678 3,982 Other facilities, factory and office equipment 4,142 189 314 -- 3,976 2,683 536 257 2,937 1,039 Assets under construction and prepayments made 60 -- -- -- 55 -- -- -- -- -- 55 Total 41,119 954 4,974 0 36,154 13,776 3,088 4,180 12,380 23,774 2019 (€ in thousands) Carrying Acquisition and manufacturing cost Accumulated depreciation and amortization amount Recognition of right-of-use asset on initial Adjusted application of balance at Current 01/01/2019 (1) IFRS 16 01/01/2019 Additions Disposals Revaluation Transfer FX 12/31/2019 01/01/2019 year Disposals Transfer FX 12/31/2019 12/31/2019 Intangible assets Software 1,446 -- 1,446 94 -- -- 10 1 1,551 659 280 -- -- 1 940 611 Licenses 245 -- 245 -- -- -- -- -- 245 136 26 -- -- -- 162 83 Prepayments made on intangible assets 524 -- 524 148 -- -- (10) -- 662 -- -- -- -- -- -- 662 Total 2,215 -- 2,215 242 -- -- -- 1 2,458 795 306 -- -- 1 1,102 1,356 Property, plant and equipment Land, buildings and leasehold improvements 18,909 3,109 22,018 1,651 369 -- 119 22,885 1,824 1,095 83 -- 4 2,840 20,045 Plant and machinery 19,211 112 19,323 1,194 6,769 40 245 14,032 10,164 2,198 4,162 13 40 8,253 5,779 Other facilities, factory and office equipment 3,801 280 4,081 449 411 -- 24 4,142 2,423 608 356 -- 8 2,683 1,459 Assets under construction and prepayments made 16 -- 16 59 16 -- -- 1 60 -- -- -- -- -- -- 60 Subtotal 41,937 3,501 45,438 3,353 7,565 40 389 41,119 14,411 3,901 4,601 13 51 13,776 27,343 Leased products 203 -- 203 -- 41 -- (163) 1 -- 54 4 18 (40) -- -- -- Total 42,140 3,501 45,641 3,353 7,606 (123) 390 41,119 14,465 3,905 4,619 (27) 51 13,776 27,343 (1) The Company has initially applied IFRS 16 as of January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated and the cumulative effect of initially applying IFRS 16 is recognized in retained earnings at the date of initial application. For further information, see Note 3 “Summary of significant accounting policies” to the consolidated financial statements.

Other liabilities and provisi_2

Other liabilities and provisions (Tables)	12 Months Ended
	Dec. 31, 2020
Other liabilities and provisions
Summary of other liabilities and provisions	December 31, 2020 2019 (€ in thousands) Employee bonus Liabilities from payroll Accruals for commissions Accrual for warranty Accruals for compensation of supervisory board Accruals for vacation and overtime Accruals for licenses Liabilities from VAT Accrual for restructuring -- Others Total As of December 31, 2020, other liabilities and provisions include kEUR 5 as non-current related to the line item others. The accruals for restructuring as of December 31, 2019 amounting to kEUR 604 related to voxeljet AG (kEUR 453) and voxeljet UK (kEUR 151). For further information, see Note 9 of the consolidated financial statements. (€ in thousands) January 1, 2020 Usage Addition Reversal December 31, 2020 Employee bonus -- Liabilities from payroll -- Accruals for commissions -- Accrual for warranty -- Accruals for compensation of supervisory board -- Accruals for vacation and overtime -- Accruals for licenses -- Accruals for education and training -- -- -- Accrual for restructuring -- -- -- Total --

Additional disclosures to fin_2

Additional disclosures to financial instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Additional disclosures to financial instruments
Summary of carrying amounts and fair values of financial assets and financial liabilities	Carrying amount Fair Value Assets at Liabilities Total amortized at amortized carrying 12/31/2020 FVTPL FVOCI cost cost amount Level 1 Level 2 Level 3 Total Total assets 5,351 5 20,008 -- 15,360 Current assets 5,351 -- 10,004 -- 15,355 Cash and cash equivalents -- -- 5,324 -- 5,324 Financial assets 5,351 -- -- -- 5,351 2,984 2,367 -- 5,351 Bond funds 984 -- -- -- 984 984 -- -- 984 Bond funds (restricted) 2,000 -- -- -- 2,000 2,000 -- -- 2,000 Derivative financial instruments 2,367 -- -- -- 2,367 -- 2,367 -- 2,367 Trade receivables, net -- -- 4,680 -- 4,680 Non-current assets -- 5 -- -- 5 Financial assets -- 5 -- -- 5 -- -- 5 5 Equity securities -- 5 -- -- 5 -- -- 5 5 Total liabilities 808 -- -- 25,108 29,040 Current liabilities 808 -- -- 20,606 21,726 Trade payables -- -- -- 1,956 1,956 Financial liabilities 808 -- -- 18,650 19,770 -- 808 24,858 25,666 Derivative financial instruments 808 -- -- -- 808 -- 808 -- 808 Long-term debt -- -- -- 18,650 18,650 -- -- 24,858 24,858 Lease liability -- -- -- -- 312 -- -- -- n/a Non-current liabilities -- -- -- 4,502 7,314 Financial liabilities -- -- -- 4,502 7,314 -- -- 4,203 4,203 Long-term debt -- -- -- 4,502 4,502 -- -- 4,203 4,203 Lease liability -- -- -- -- 2,812 -- -- -- n/a Carrying amount Fair Value Assets at Liabilities Total FVTPL FVOCI amortized at amortized carrying 12/31/2019 cost cost amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value Current assets Bond funds (1) 3,667 -- -- -- 3,667 3,667 -- -- 3,667 Bond funds (restricted) (1) 2,000 -- -- -- 2,000 2,000 -- -- 2,000 Note receivable (1) 1,278 -- -- -- 1,278 1,278 -- -- 1,278 Non-current assets Derivative financial instruments (2) 2,274 -- -- -- 2,274 -- 2,274 -- 2,274 Equity securities -- 5 -- -- 5 -- -- 5 5 Financial assets not measured at fair value Current assets Cash and cash equivalents -- -- 4,368 -- 4,368 4,368 -- -- 4,368 Restricted Cash -- -- 463 -- 463 463 -- -- 463 Trade and other receivables -- -- 5,915 -- 5,915 -- -- -- -- Financial liabilities not measured at fair value Current liabilities Long-term debt (3) -- -- -- 10,864 10,864 -- -- 10,858 10,858 Trade payables -- -- -- 2,797 2,797 -- -- -- n/a Non-current liabilities Long-term debt (3) -- -- -- 6,682 6,682 -- -- 6,148 6,148 (1) Comparative figures for the year ended December 31, 2019, were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019, were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (3) Previously presented under level 2
Schedule of gains and losses for financial assets and liabilities	Year Ended December 31, 2020 (€ in thousands) Financial asset measured at amortized cost Total interest expense Other operating income from change of impairment 182 Other operating income from unrealized foreign currency translation 50 Other operating expense from change of impairment Other operating expense from unrealized foreign currency translation Financial asset measured at fair value through profit or loss 94 Total interest income 171 Total interest expense Other operating income from unrealized foreign currency translation 32 Other operating expense from unrealized foreign currency translation Financial liabilties measured at amortized cost Total interest expense Other operating income from unrealized foreign currency translation 3 Other operating expense from unrealized foreign currency translation Financial liabilties measured at fair value through profit or loss Total interest expense Total
Summary of overview of all outstanding loans	December 31, 2020 December 31, 2019 Currency Nominal interest rate Year of maturity Face value Carrying amount Face value Carrying amount (€ in thousands) Secured bank loan EUR -- Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Secured bank loan EUR Unsecured bank loan EUR Unsecured bank loan USD Secured bank loan EUR Secured bank loan EUR -- -- Lease liabilities EUR 1.6%-9.3% 2020-2029 Total interest-bearing liabilities

Cost of sales (Tables)

Cost of sales (Tables)	12 Months Ended
	Dec. 31, 2020
Cost of sales
Summary of cost of sales	Year Ended December 31, 2020 2019 2018 (1) (€ in thousands) Personnel expenses Material costs Depreciation Other expenses Allowance for slow-moving inventory 1 21 417 Total (1) The Company has initially applied IFRS 16 as of January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated and the cumulative effect of initially applying IFRS 16 is recognized in retained earnings at the date of initial application. For further information, see Note 3 “ Summary of significant accounting policies” to the consolidated financial statements.

Other operating income and ex_2

Other operating income and expense (Tables)	12 Months Ended
	Dec. 31, 2020
Other operating income and expense
Other operating income	Year Ended December 31, 2020 2019 2018 (€ in thousands) Government grant income Amortization of gain on sale and leaseback transactions -- -- Reimbursement of transaction costs Gains from foreign exchange transactions Other Total
Other operating expense	Year Ended December 31, 2020 2019 2018 (€ in thousands) Impairment loss on trade receivables Losses from foreign exchange transactions Impairment loss on inventory -- -- Other Total

Financial result (Tables)

Financial result (Tables)	12 Months Ended
	Dec. 31, 2020
Financial result
Schedule of financial result	Year Ended December 31, 2020 2019 (1) (2) 2018 (1) (2) (€ in thousands) Interest expense Interest expense on lease liability (2018: Finance lease obligations) Long-term debt Expense from revaluation of derivative financial instruments -- Fair value valuation of financial assets -- Other Interest income 184 318 2,158 Payout of bond funds 78 126 58 Income from revaluation of derivative financial instruments 93 -- 2,065 Fair value valuation of financial assets -- 174 18 Other 13 18 17 Financial result 879 (1) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income taxes
Schedule of income tax (expense) benefit	Year Ended December 31, 2020 2019 (1) (2) 2018 (1) (2) (€ in thousands) Current tax (expense) income -- -- -- Deferred tax (expense) income 88 (39) (64) Total 88 (39) (64) (1) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements.
Sources of deferred tax assets and liabilities	December 31, 2020 2019 (€ in thousands) Deferred tax assets Deferred tax liabilities Deferred tax assets Deferred tax liabilities Trade receivables -- -- Other receivables and current assets 1,092 1,050 Inventories 16 11 -- Property, Plant & Equipment 5 99 Trade liabilities 429 -- 206 -- Current financial liabilities 1,148 -- 1,020 Current financial assets 65 -- -- Other current liabilities and provisions 239 19 Contract liabilities 762 247 Non-current other assets -- -- -- Non-current financial liabilities 764 -- -- -- Non-current financial assets -- Intangible assets -- -- -- Tax losses carried forward 138 -- 227 -- Valuation allowance -- Tax assets (liabilities) 4,410 2,615 Set off of tax 4,410 2,615 Net tax -- --
Reconciliation of income tax benefit (expense)	Year Ended December 31, 2020 2019 (1) (2) 2018 (1) (2) (3) (€ in thousands) Loss before tax Tax expense at prevailing statutory rate (28%) 4,359 3,903 2,431 Non-deductible expenses Non-taxable income 80 -- 242 Tax-rate related differences Unrecognized temporary differences and tax losses Income tax (expense) income 88 (1) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019 and December 31, 2018 were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. ( 3 ) The Company has initially applied IFRS 16 as of January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated and the cumulative effect of initially applying IFRS 16 is recognized in retained earnings at the date of initial application. For further information, see Note 3 “ Summary of significant accounting policies” to the consolidated financial statements.

Personnel expenses (Tables)

Personnel expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Personnel expenses
Summary of personnel expenses	Year Ended December 31, 2020 2019 2018 (€ in thousands) Wages and salaries Employee stock option plan 671 671 604 Social security contributions 2,289 2,710 2,527 Total

Segment reporting (Tables)

Segment reporting (Tables)	12 Months Ended
	Dec. 31, 2020
Segment reporting
Schedule of segment reporting	Year Ended December 31, 2020 (€ in thousands) CONSO SYSTEMS SERVICES LIDATION GROUP Revenues 13,159 9,011 (603) 21,567 third party 12,556 9,011 — 21,567 intra-segment 603 — (603) — Cost of sales (8,115) (6,697) (14,812) Gross profit 4,441 2,314 6,755 Gross profit in % Operating Expenses (18,723) Other operating expenses (2,799) Other operating income 1,603 Operating loss (13,164) Finance expense (2,589) Finance income 184 Financial result (2,405) Loss before income taxes (15,569) Income tax income (expense) 88 Net loss (15,481) Year Ended December 31, 2019 2018 (1) (€ in thousands) SYSTEMS SERVICES SYSTEMS SERVICES Revenues Gross profit Gross profit in % PPE (1) The Company has initially applied IFRS 16 as of January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated and the cumulative effect of initially applying IFRS 16 is recognized in retained earnings at the date of initial application. For further information, see Note 3 “ Summary of significant accounting policies” to the consolidated financial statements.

Financial risk management (Tabl

Financial risk management (Tables)	12 Months Ended
	Dec. 31, 2020
Financial risk management
Schedule of expected credit loss regarding trade receivables	December 31, 2020 Equivalent to external credit rating Weighted-average Gross carrying Impairment loss Net carrying Grades (Standard & Poor’s) loss rate amount allowance amount (€ in thousands) Grades 1-4: Low risk BBB+ to AAA 1,686 2 1,684 Grades 5-7: Fair risk B+ to BBB 2,209 29 2,180 Grades 8-9: Substandard CCC- to B 876 61 815 Grade 10: Doubtful C to CC 2 1 1 Grade 11: Loss D 15 15 4,788 108 4,680 December 31, 2019 Equivalent to external credit rating Weighted-average Gross carrying Impairment loss Net carrying Grades (Standard & Poor’s) loss rate amount allowance amount (€ in thousands) Grades 1-4: Low risk BBB+ to AAA 2,400 4 Grades 5-7: Fair risk B+ to BBB 3,132 42 Grades 8-9: Substandard CCC- to B 233 16 Grade 10: Doubtful C to CC 283 71 Grade 11: Loss D -- -- --
Summary of contractual cash flow	December 31, 2020 (€ in thousands) Contractual cash flow carrying amount Total 2 months or less 2-12 months 1-3 years 3-5 years More than 5 years Long-term debt 23,152 Lease liability 3,124 Trade payables 1,956 -- -- -- -- Total 28,232 December 31, 2019 (€ in thousands) Contractual cash flow carrying amount Total 2 months or less 2-12 months 1-3 years 3-5 years More than 5 years Long-term debt 17,546 Lease liability 3,610 Trade payables 2,797 -- -- -- -- Total 23,953

Reconciliation of movements o_2

Reconciliation of movements of liabilities to cash flows arising from financing activities (Tables)	12 Months Ended
	Dec. 31, 2020
Reconciliation of movements of liabilities to cash flows arising from financing activities
Reconciliation of movements of liabilities to cash flows arising from financing activities.	Liabilities Equity (€ in thousands) Other loans and borrowings Lease liabilities Subscribed capital Capital reserves Accumulated (1) (2) Non-controlling interests Total (1) (2) Balance at January 1, 2020 17,546 3,610 4,836 88,077 (60,124) (13) 53,932 Changes from financing cash flows Proceeds from loans and borrowings 5,000 — — — — — 5,000 Repayment of borrowings (863) — — — — — (863) Payment of lease liabilities — (412) — — — — (412) Total changes from financing cash flows 4,137 (412) — — — — 3,725 Other changes Liability-related New leases — (138) — — — — (138) Reclassification — 22 — — — — 22 Interest expense 1,602 167 — — — — 1,769 Interest paid (133) (125) — — — — (258) Total liability-related other changes 1,469 (74) — — — — 1,395 — Total equity-related other changes — — — 671 (15,339) (142) (14,810) — Balance at December 31, 2020 23,152 3,124 4,836 88,748 (75,463) (155) 44,242 Liabilities Equity (€ in thousands) Other loans and borrowings Finance lease Lease liabilities Subscribed capital Capital reserves Accumulated (1) (2) Non-controlling interests Total (1) (2) Balance at January 1, 2019 17,066 105 — 4,836 86,803 (46,410) 35 62,435 Adjustment on initial application of IFRS 16 — (105) 3,574 — — — — 3,469 Restated balance at January 1, 2019 17,066 — 3,574 4,836 86,803 (46,410) 35 65,904 Changes from financing cash flows Proceeds from loans and borrowings 529 — — — — — — 529 Repayment of borrowings (969) — — — — — — (969) Payment of lease liabilities — — (397) — — — — (397) Proceeds from issuance of shares — — — — — — — — Total changes from financing cash flows (440) — (397) — — — — (837) Other changes Liability-related New leases — — 954 — — — — 954 Reclassification 920 — (521) — — — — 399 Interest expense 993 — 190 — — — — 1,183 Interest paid (993) — (190) — — — — (1,183) Total liability-related other changes 920 — 433 — — — — 1,353 — Total equity-related other changes — — — — 1,274 (13,714) (48) (12,488) — Balance at December 31, 2019 17,546 — 3,610 4,836 88,077 (60,124) (13) 53,932 (1) Comparative figures for the year ended December 31, 2019, were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019, were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements.

Capital management (Tables)

Capital management (Tables)	12 Months Ended
	Dec. 31, 2020
Capital management
Capital structure	December 31, 2020 2019 (1) (2) (€ in thousands) Equity Share of total equity and liabilities Current financial liabilities Non-current financial liabilities Total financial liabilities Share of total equity and liabilities Total equity and liabilities (1) Comparative figures for the year ended December 31, 2019, were revised related to the amendment of classification of short-term investments. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements. (2) Comparative figures for the year ended December 31, 2019, were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 2 “Preparation of financial statements” to the consolidated financial statements.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases
Schedule of carrying amount of right-of use assets	Property, plant and equipment Property Production equipment Others Total (€ in thousands) Balance at January 1, 2020 3,658 254 3,984 Depreciation charge of the year Additions to the right-of-use assets 11 -- 159 Derecognition of the right-of-use assets -- -- FX -- Balance at December 31, 2020 2,892 3,191
Summary of amounts recognized in profit or loss and in statement of cash flows	Amounts recognized in profit or loss: 2020 2019 (€ in thousands) Leases under IFRS 16 Interest on lease liabilities 167 190 Expenses relating to short-term-leases -- 39 Depreciation charge of the year Amounts recognized 2020 2019 (€ in thousands) Total cash outflow for leases
Schedule of future lease payments to be received	2020 2019 (€ in thousands) Operating lease under IFRS 16 Less than one year -- 38

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Related party transactions
Management compensation	Year Ended December 31, 2020 2019 2018 (€ in thousands) Fixed compensation Variable compensation -- -- -- Compensation from stock option plan Total
Other Related Parties	Name Nature of relationship Duration of relationship Franz Industriebeteiligungen AG, Augsburg Lessor 10/01/2003 - Current Schlosserei und Metallbau Ederer, Dießen Supplier 05/01/1999 - Current Andreas Schmid Logistik AG, Gersthofen Supplier 05/01/2017 - Current Suzhou Meimai Fast Manufacturing Technology Co., Ltd, Suzhou Minority shareholder of voxeljet China, Customer 04/11/2016 - Current DSCS Digital Supply Chain Solutions GmbH, Gersthofen Customer 05/11/2017 - Current Michele Neuber Employee 07/01/2019 - Current

The reporting entity (Details)

The reporting entity (Details)	Jul. 31, 2020	Dec. 31, 2020segment
Reporting entity
Number of reportable segments		2
voxeljet America
Reporting entity
Ownership percentage		100.00%
voxeljet UK
Reporting entity
Ownership percentage		100.00%
voxeljet India
Reporting entity
Ownership percentage		100.00%
voxeljet China
Reporting entity
Ownership percentage		70.00%
Share transaction | American Depositary Shares
Reporting entity
Reverse stock split ratio	0.2

Preparation of financial stat_2

Preparation of financial statements (Details) € / shares in Units, $ / shares in Units, € in Thousands, $ in Millions	Feb. 17, 2021USD ($)shares	Feb. 17, 2021EUR (€)€ / sharesshares	Jan. 25, 2021USD ($)shares	Jan. 25, 2021EUR (€)€ / sharesshares	Nov. 08, 2018shares	Oct. 17, 2018shares	Jun. 30, 2020EUR (€)shares	Dec. 31, 2020EUR (€)shares	Dec. 31, 2019EUR (€)	Dec. 31, 2018EUR (€)	Feb. 09, 2021$ / shares	Jan. 14, 2021$ / shares
Disclosure of detailed information about borrowings [line items]
Net loss | €								€ (15,481)	€ (13,978)	€ (8,747)
Negative cash flows from operating activities | €								€ (6,598)	(6,592)	€ (7,331)
Increase in shares issued (in shares) | shares								4,836,000
American Depositary Shares
Disclosure of detailed information about borrowings [line items]
Increase in shares issued (in shares) | shares					720,000	4,860,000
American Depositary Shares | Share transaction
Disclosure of detailed information about borrowings [line items]
Increase in shares issued (in shares) | shares	443,414	443,414	621,170	621,170
Purchase price | (per share)		€ 22.27		€ 13.33							$ 26.95	$ 16.16
Gross proceeds of ordinary shares	$ 12	€ 9,900	$ 10	€ 8,300
European Investment Bank
Disclosure of detailed information about borrowings [line items]
Current debt | €									€ 10,000
EIB-Tranche two
Disclosure of detailed information about borrowings [line items]
Indebtedness | €							€ 5,000
Increase in shares issued (in shares) | shares							404,928

Preparation of financial stat_3

Preparation of financial statements - Adjustments (Details) - EUR (€) € in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019	Jan. 01, 2018
Initial application
Financial assets	€ 2,279	€ 5	€ 2,279
Deferred tax liabilities	142	52	142
Accumulated deficit	(60,124)	(75,463)	(60,124)
Accumulated other comprehensive income	742	1,675	742
Net loss		€ (15,481)	(13,978)	€ (8,747)
Impacts of amendment and recalculation
Initial application
Financial assets	260		260	151	€ 151	€ (37)
Deferred tax liabilities	73		73	43	43	(10)
Accumulated deficit	243		243	(10)	10	€ (27)
Accumulated other comprehensive income	(56)		(56)	118	€ 118
Net loss	(93)		253	17
Debt investment at FVOCI - net change in fair value	14		(174)	€ 119
Bank borrowings, undiscounted cash flows	€ 2,918		€ 2,918

Summary of significant accoun_4

Summary of significant accounting policies (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Initial application
Standard warranty period	1 year
Unfulfilled performance obligations	€ 6,800	€ 772
Recognition of performance obligations		€ 584
Minimum
Initial application
Operating period for 3D printer in Services segment	1 year 6 months
Payment term	30 days
Maximum
Initial application
Operating period for 3D printer in Services segment	2 years 6 months
Payment term	60 days
Less than one year
Initial application
Unfulfilled performance obligations	€ 2,794
Satisfy performance obligations (as a percent)	96.00%
Two years
Initial application
Unfulfilled performance obligations	€ 117
Satisfy performance obligations (as a percent)	4.00%

Summary of significant accoun_5

Summary of significant accounting policies - Revenue (Details) € in Thousands	12 Months Ended
	Dec. 31, 2020EUR (€)item	Dec. 31, 2019EUR (€)item	Dec. 31, 2018EUR (€)item
Revenues
Revenue from contracts with customers	€ 21,567	€ 24,602	€ 26,009
Number of leased printers | item	1	2	2
EMEA
Revenues
Revenue from contracts with customers	€ 11,466	€ 11,265	€ 14,673
Asia Pacific
Revenues
Revenue from contracts with customers	4,521	6,302	5,450
Americas
Revenues
Revenue from contracts with customers	5,580	7,035	5,886
Systems
Revenues
Revenue from contracts with customers	12,556	13,454	12,248
Systems | Products transferred at a point in time
Revenues
Revenue from contracts with customers	11,366	12,332	11,188
Systems | Products and services transferred over time
Revenues
Revenue from contracts with customers	1,190	1,122	1,060
Systems | EMEA
Revenues
Revenue from contracts with customers	5,926	4,951	5,592
Systems | Asia Pacific
Revenues
Revenue from contracts with customers	3,612	5,371	4,704
Systems | Americas
Revenues
Revenue from contracts with customers	3,018	3,132	1,952
Services
Revenues
Revenue from contracts with customers	9,011	11,148	13,761
Services | Products transferred at a point in time
Revenues
Revenue from contracts with customers	9,011	11,148	13,761
Services | EMEA
Revenues
Revenue from contracts with customers	5,540	6,314	9,081
Services | Asia Pacific
Revenues
Revenue from contracts with customers	909	931	746
Services | Americas
Revenues
Revenue from contracts with customers	€ 2,562	€ 3,903	€ 3,934

Summary of significant accoun_6

Summary of significant accounting policies - Right-of-use assets (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases
Right-of-use	€ 3,191	€ 3,984
Property
Leases
Right-of-use	2,892	3,658
Machinery
Leases
Right-of-use	45	72
Other PPE
Leases
Right-of-use	€ 254	€ 254

Summary of significant accoun_7

Summary of significant accounting policies - Lease transition (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets presented in property plant and equipment	€ 3,191	€ 3,984
Lease liabilities as presented in financial liabilities	€ 3,124	€ 3,610
Minimum
Disclosure of quantitative information about right-of-use assets [line items]
Lease period	3 years
Lease period, option to renew	3 years
Maximum
Disclosure of quantitative information about right-of-use assets [line items]
Lease period	10 years
Lease period, option to renew	5 years
IFRS 16
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets presented in property plant and equipment			€ 3,501
Lease liabilities as presented in financial liabilities			€ 3,574
Incremental borrowing rate applied to lease liabilities (as a percent)			4.55%

Summary of significant accoun_8

Summary of significant accounting policies - Lease adoption (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Initial application
Lease liabilities	€ 3,124	€ 3,610
Right-of-use assets.	3,191	3,984
Depreciation expense	682	765
interest expense	€ 167	€ 190	€ 69
IFRS 16
Initial application
Operating lease commitment at December 31, 2018, as disclosed in the Group's consolidated financial statements			2,584
Discounted using the incremental borrowing rate at January 1, 2019				€ 2,021
Finance lease liability recognized as at December 31, 2018			€ 105
Recognition exemption for leases with less than 12 months of lease term at transition				(84)
Extension options reasonably certain to be exercised				1,532
Lease liabilities				3,574
Right-of-use assets.				€ 3,501

Summary of significant accoun_9

Summary of significant accounting policies - Foreign currencies (Details) € in Thousands	Apr. 07, 2017EUR (€)	Dec. 31, 2020$ / €	Dec. 31, 2020$ / €₨ / €	Dec. 31, 2020$ / €£ / €	Dec. 31, 2020$ / €¥ / €	Dec. 31, 2019$ / €	Dec. 31, 2019$ / €₨ / €	Dec. 31, 2019$ / €£ / €	Dec. 31, 2019$ / €¥ / €	Dec. 31, 2018$ / €	Dec. 31, 2018₨ / €	Dec. 31, 2018£ / €	Dec. 31, 2018¥ / €	Dec. 31, 2020₨ / €	Dec. 31, 2020£ / €	Dec. 31, 2020¥ / €	Dec. 31, 2019₨ / €	Dec. 31, 2019£ / €	Dec. 31, 2019¥ / €
Summary of significant accounting policies
Expected dividends	€ 0
Foreign exchange rates
Average foreign exchange rate		1.1422	84.6392	0.8897	7.8747	1.1195	78.8361	0.8778	7.7355	1.1810	80.7332	0.8847	7.8081
Closing foreign exchange rate		1.2271	1.2271	1.2271	1.2271	1.1234	1.1234	1.1234	1.1234					89.6605	0.8990	8.0225	80.1870	0.8508	7.8205

Summary of significant accou_10

Summary of significant accounting policies - Useful lives (Details)	12 Months Ended
	Dec. 31, 2020
Buildings
Initial application
Useful life of property, plant and equipment	33 years
Minimum | Leasehold improvements
Initial application
Useful life of property, plant and equipment	6 years
Minimum | Machinery
Initial application
Useful life of property, plant and equipment	7 years
Minimum | Leased assets
Initial application
Useful life of property, plant and equipment	7 years
Minimum | Other facilities, machinery and factory equipment
Initial application
Useful life of property, plant and equipment	2 years
Minimum | Office equipment
Initial application
Useful life of property, plant and equipment	3 years
Minimum | Software
Initial application
Useful life of intangible assets	3 years
Minimum | Licenses
Initial application
Useful life of intangible assets	6 years
Maximum | Leasehold improvements
Initial application
Useful life of property, plant and equipment	9 years
Maximum | Machinery
Initial application
Useful life of property, plant and equipment	8 years
Maximum | Leased assets
Initial application
Useful life of property, plant and equipment	8 years
Maximum | Other facilities, machinery and factory equipment
Initial application
Useful life of property, plant and equipment	20 years
Maximum | Office equipment
Initial application
Useful life of property, plant and equipment	12 years
Maximum | Software
Initial application
Useful life of intangible assets	5 years
Maximum | Licenses
Initial application
Useful life of intangible assets	8 years

Summary of significant accou_11

Summary of significant accounting policies - Earnings (loss) per share (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of significant accounting policies
Dilutive instruments (in shares)	0
Weighted average number of ordinary shares outstanding (in shares)	4,836,000	4,836,000	3,940,636

Critical accounting judgment _2

Critical accounting judgment and key sources of estimation and uncertainty (Details) € in Thousands	12 Months Ended
	Dec. 31, 2020EUR (€)
Critical accounting judgment and key sources of estimation and uncertainty
Derivative financial assets	€ 2,367
Derivative financial liabilities	808
Finance income	93
Finance expense	€ 808

Share based payment arrangeme_3

Share based payment arrangements - Narrative (Details) € in Thousands	Apr. 12, 2018EquityInstruments	Apr. 07, 2017EquityInstrumentsshares	Dec. 31, 2020EUR (€)EquityInstruments	Dec. 31, 2019EUR (€)EquityInstruments	Dec. 31, 2018EUR (€)EquityInstruments
Share based payment arrangements
Share based compensation, options authorized | shares		372,000
Options granted (in shares)	93,000	279,000
Options granted (in percent)	25.00%	75.00%
Vesting period			4 years
Number of consecutive days option may be exercised			90 days
Share price exceeds the exercise price (as a percent)			20.00%
Options exercisable (in shares)			0
Options outstanding			353,400	353,400	353,400
Weighted-average contractual life			6 years 6 months	7 years 6 months
Expenses recognized in profit and loss | €			€ 671	€ 671	€ 604

Share based payment arrangeme_4

Share based payment arrangements - Measurement inputs (Details) $ / shares in Units, € in Thousands	Apr. 12, 2018USD ($)$ / shares	Apr. 07, 2017USD ($)$ / shares	Apr. 07, 2017EUR (€)
Share based payment arrangements
Share price at grant date (in dollars per share)	$ 16.15	$ 13.80
Exercise price (in dollars per share)	$ 16.15	$ 13.90
Expected volatility (as a percent)	58.40%		55.00%
Expected dividends | €			€ 0
Risk-free interest rate (as a percent)	2.85%		2.49%
Fair value at grant date (in dollars per share) | $	$ 9.74	$ 8

Share based payment arrangeme_5

Share based payment arrangements - Options (Details)	Apr. 12, 2018EquityInstruments	Apr. 07, 2017EquityInstruments	Dec. 31, 2020EquityInstruments$ / shares	Dec. 31, 2019EquityInstruments$ / shares
Share based payment arrangements
Options outstanding, beginning balance (in shares)			353,400	353,400
Options granted (in shares)	93,000	279,000
Options exercised (in shares)			0	0
Options outstanding, ending balance (in shares)			353,400	353,400
Options exercisable (in shares)			0
Weighted average exercise price of options outstanding, beginning balance (in dollars per share) | $ / shares			$ 14.46	$ 14.46
Weighted average exercise price of options exercised (in dollars per share) | $ / shares			0	0
Weighted average exercise price of options outstanding, ending balance (in dollars per share) | $ / shares			$ 14.46	$ 14.46

Share based payment arrangeme_6

Share based payment arrangements - Summarized Balance Sheet (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Current assets	€ 28,137	€ 31,513
Current liabilities	26,215	18,855
Non-current assets	25,090	31,052
Non-current liabilities	7,371	10,192
Accumulated NCI	(75,463)	€ (60,124)
voxeljet China
Disclosure of terms and conditions of share-based payment arrangement [line items]
Current assets	2,603
Current liabilities	4,351
Current net liabilities	1,748
Non-current assets	1,831
Non-current liabilities	852
Non-current net assets	979
Net liabilities	769
Accumulated NCI	€ (155)

Share based payment arrangeme_7

Share based payment arrangements - Summarized Income (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Revenue	€ 21,567	€ 24,602	€ 26,009
Loss for the period	(15,481)	(13,978)	(8,747)
Other comprehensive income	933	(577)	(61)
Total comprehensive loss	(14,548)	(14,555)	(8,808)
Loss allocated to NCI	(142)	€ (264)	€ (36)
voxeljet China
Disclosure of terms and conditions of share-based payment arrangement [line items]
Revenue	2,179
Loss for the period	(473)
Total comprehensive loss	(473)
Loss allocated to NCI	€ (142)

Share based payment arrangeme_8

Share based payment arrangements - Summarized Cash Flows (Details) - EUR (€) € in Thousands	Mar. 01, 2019	Feb. 28, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Cash flows from operating activities			€ (6,598)	€ (6,592)	€ (7,331)
Cash flows from investing activities			3,921	4,641	(2,179)
Cash flows from financing activities			3,467	(1,157)	9,313
Net increase/ (decrease) in cash and cash equivalents			790	(3,108)	€ (197)
Share-based payment transaction with the non-controlling shareholder of a subsidiary				819
Right-of-use			3,191	3,984
Lease liabilities			3,124	3,610
Non-controlling interests
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based payment transaction with the non-controlling shareholder of a subsidiary				216
Capital reserves
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based payment transaction with the non-controlling shareholder of a subsidiary				€ 603
voxeljet China
Disclosure of terms and conditions of share-based payment arrangement [line items]
Cash flows from operating activities			(1,504)
Cash flows from investing activities			(39)
Cash flows from financing activities			963
Net increase/ (decrease) in cash and cash equivalents			€ (580)
Minority ownership interest (as a percent)	30.00%	4.175%
Lease period	6 years
Rent free lease period	3 years
Right-of-use	€ 813
Lease liabilities	813
voxeljet China | Non-controlling interests
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based payment transaction with the non-controlling shareholder of a subsidiary	216
voxeljet China | Capital reserves
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based payment transaction with the non-controlling shareholder of a subsidiary	€ 604

Trade receivables (Details)

Trade receivables (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Summary of significant accounting policies
Beginning of period	€ 187	€ 383
Provisions	52	38
Write-offs	(26)	(102)
Release to income	(30)	(132)
End of period	183	€ 187
Change in expected loss allowance	€ 23

Inventories (Details)

Inventories (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Inventories
Raw materials	€ 3,733	€ 4,109
Work in progress	7,661	8,350
Total	11,394	12,459
Reserve for slow-moving inventory	€ 0	€ 1

Restructuring (Details)

Restructuring (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsidiaries
Cost of sales	€ 14,812	€ 17,426	€ 16,864
Selling expenses	5,816	7,118	7,332
Administrative expenses	6,407	6,952	5,587
Research and development expenses	€ 6,500	7,212	€ 6,334
voxeljet AG | Restructuring.
Subsidiaries
Cost of sales		302
Selling expenses		77
Administrative expenses		45
Research and development expenses		29
Impact of restructuring		453
voxeljet AG | Employee termination costs
Subsidiaries
Cost of sales		302
Selling expenses		77
Administrative expenses		45
Research and development expenses		29
voxeljet UK | Restructuring.
Subsidiaries
Cost of sales		312
Selling expenses		42
Administrative expenses		274
Impact of restructuring		628
voxeljet UK | Loss on disposal of assets
Subsidiaries
Cost of sales		226
Selling expenses		20
Administrative expenses		81
voxeljet UK | Employee termination costs
Subsidiaries
Cost of sales		67
Selling expenses		16
Administrative expenses		35
voxeljet UK | Impairment Of Inventories
Subsidiaries
Cost of sales		19
voxeljet UK | Lease maintenance costs
Subsidiaries
Administrative expenses		100
voxeljet UK | Settlement of agreements
Subsidiaries
Administrative expenses		14
voxeljet UK | Legal Consulting
Subsidiaries
Administrative expenses		25
voxeljet UK | Right-of-use assets
Subsidiaries
Selling expenses		6
Administrative expenses		€ 19

Intangible assets and propert_3

Intangible assets and property, plant and equipment - Intangibles (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Intangible assets and goodwill
Intangible assets	€ 1,143	€ 1,356
Capitalized cost
Intangible assets and goodwill
Intangible assets	454
Software
Intangible assets and goodwill
Intangible assets	806	611
Licenses
Intangible assets and goodwill
Intangible assets	56	83
Prepayments made on intangible assets
Intangible assets and goodwill
Intangible assets	€ 281	€ 662

Intangible assets and propert_4

Intangible assets and property, plant and equipment - PPE (Details) € in Thousands	12 Months Ended
	Dec. 31, 2020EUR (€)item	Dec. 31, 2019EUR (€)item
Property, plant and equipment
Property, plant and equipment	€ 23,774	€ 27,343
Thereof pledged assets of Property, Plant and Equipment	€ 13,069	€ 6,618
Number of pledged 3D printers | item	7	8
Self constructed 3D printers	€ 516	€ 883
Property
Property, plant and equipment
Property, plant and equipment	18,698	20,045
Machinery
Property, plant and equipment
Property, plant and equipment	3,982	5,779
Other PPE
Property, plant and equipment
Property, plant and equipment	1,039	1,459
Assets under construction and prepayments made
Property, plant and equipment
Property, plant and equipment	€ 55	€ 60

Intangible assets and propert_5

Intangible assets and property, plant and equipment - PPE Activity - (Details) - EUR (€) € in Thousands	Jan. 01, 2019	Dec. 31, 2020	Dec. 31, 2019
Changes in intangible assets and goodwill
Beginning balance		€ 1,356
Ending balance		1,143	€ 1,356
Changes in property, plant and equipment
Balance, at beginning of the period		27,343
Balance, at end of the period		23,774	27,343
Systems
Changes in property, plant and equipment
Balance, at beginning of the period	€ 11,804	13,093	11,804
Balance, at end of the period			13,093
Services
Changes in property, plant and equipment
Balance, at beginning of the period	15,871	14,250	15,871
Balance, at end of the period			14,250
Gross carrying amount
Changes in intangible assets and goodwill
Beginning balance	2,215	2,458	2,215
Adjusted	2,215
Additions		158	242
Disposals		42
Revaluation			(536)
Transfer		0
FX		(2)	1
Ending balance		2,572	2,458
Changes in property, plant and equipment
Balance, at beginning of the period	42,140	41,119	42,140
Adjusted	45,641
Additions		954	3,353
Disposals		4,974	7,606
Transfers		0	(123)
FX		(945)	390
Balance, at end of the period		36,154	41,119
Depreciation and amortization
Changes in intangible assets and goodwill
Beginning balance	(795)	(1,102)	(795)
Additions		354	306
Disposals		(26)
FX		1	1
Ending balance		(1,429)	(1,102)
Changes in property, plant and equipment
Balance, at beginning of the period	(14,465)	(13,776)	(14,465)
Additions		3,088	3,905
Disposals		(4,180)	(4,619)
Transfers			(27)
FX		(304)	51
Balance, at end of the period		(12,380)	(13,776)
Property, plant and equipment apart from those under operating leases
Changes in property, plant and equipment
Balance, at beginning of the period		27,343
Balance, at end of the period			27,343
Property, plant and equipment apart from those under operating leases | Gross carrying amount
Changes in intangible assets and goodwill
Revaluation			(536)
Changes in property, plant and equipment
Balance, at beginning of the period	41,937	41,119	41,937
Adjusted	45,438
Additions			3,353
Disposals			7,565
Transfers			40
FX			389
Balance, at end of the period			41,119
Property, plant and equipment apart from those under operating leases | Depreciation and amortization
Changes in property, plant and equipment
Balance, at beginning of the period	(14,411)	(13,776)	(14,411)
Additions			3,901
Disposals			(4,601)
Transfers			13
FX			51
Balance, at end of the period			(13,776)
Property
Changes in property, plant and equipment
Balance, at beginning of the period		20,045
Balance, at end of the period		18,698	20,045
Property | Gross carrying amount
Changes in intangible assets and goodwill
Revaluation			(534)
Changes in property, plant and equipment
Balance, at beginning of the period	18,909	22,885	18,909
Adjusted	22,018
Additions		13	1,651
Disposals		65	369
FX		(370)	119
Balance, at end of the period		22,463	22,885
Property | Depreciation and amortization
Changes in property, plant and equipment
Balance, at beginning of the period	(1,824)	(2,840)	(1,824)
Additions		1,001	1,095
Disposals		(2)	(83)
FX		(74)	4
Balance, at end of the period		(3,765)	(2,840)
Machinery
Changes in property, plant and equipment
Balance, at beginning of the period		5,779
Balance, at end of the period		3,982	5,779
Machinery | Gross carrying amount
Changes in intangible assets and goodwill
Revaluation			(1)
Changes in property, plant and equipment
Balance, at beginning of the period	19,211	14,032	19,211
Adjusted	19,323
Additions		752	1,194
Disposals		4,595	6,769
Transfers			40
FX		(529)	245
Balance, at end of the period		9,660	14,032
Machinery | Depreciation and amortization
Changes in property, plant and equipment
Balance, at beginning of the period	(10,164)	(8,253)	(10,164)
Additions		1,551	2,198
Disposals		(3,921)	(4,162)
Transfers			13
FX		(205)	40
Balance, at end of the period		(5,678)	(8,253)
Other PPE
Changes in property, plant and equipment
Balance, at beginning of the period		1,459
Balance, at end of the period		1,039	1,459
Other PPE | Gross carrying amount
Changes in intangible assets and goodwill
Revaluation			(1)
Changes in property, plant and equipment
Balance, at beginning of the period	3,801	4,142	3,801
Adjusted	4,081
Additions		189	449
Disposals		314	411
FX		(41)	24
Balance, at end of the period		3,976	4,142
Other PPE | Depreciation and amortization
Changes in property, plant and equipment
Balance, at beginning of the period	(2,423)	(2,683)	(2,423)
Additions		536	608
Disposals		(257)	(356)
FX		(25)	8
Balance, at end of the period		(2,937)	(2,683)
Assets under construction and prepayments made
Changes in property, plant and equipment
Balance, at beginning of the period		60
Balance, at end of the period		55	60
Assets under construction and prepayments made | Gross carrying amount
Changes in property, plant and equipment
Balance, at beginning of the period	16	60	16
Adjusted	16
Additions			59
Disposals			16
FX		(5)	1
Balance, at end of the period		55	60
Leased assets | Gross carrying amount
Changes in property, plant and equipment
Balance, at beginning of the period	203		203
Adjusted	203
Disposals			41
Transfers			(163)
FX			1
Leased assets | Depreciation and amortization
Changes in property, plant and equipment
Balance, at beginning of the period	(54)		(54)
Additions			4
Disposals			(18)
Transfers			(40)
Application of IFRS 16 | Gross carrying amount
Changes in property, plant and equipment
Recognition of right-of-use asset	3,501
Application of IFRS 16 | Property, plant and equipment apart from those under operating leases | Gross carrying amount
Changes in property, plant and equipment
Recognition of right-of-use asset	3,501
Application of IFRS 16 | Property | Gross carrying amount
Changes in property, plant and equipment
Recognition of right-of-use asset	3,109
Application of IFRS 16 | Machinery | Gross carrying amount
Changes in property, plant and equipment
Recognition of right-of-use asset	112
Application of IFRS 16 | Other PPE | Gross carrying amount
Changes in property, plant and equipment
Recognition of right-of-use asset	280
Software
Changes in intangible assets and goodwill
Beginning balance		611
Ending balance		806	611
Software | Gross carrying amount
Changes in intangible assets and goodwill
Beginning balance	1,446	1,551	1,446
Additions		69	94
Disposals		26
Transfer		454	10
FX		(2)	1
Ending balance		2,046	1,551
Changes in property, plant and equipment
Adjusted	1,446
Software | Depreciation and amortization
Changes in intangible assets and goodwill
Beginning balance	(659)	(940)	(659)
Additions		327	280
Disposals		(26)
FX		1	1
Ending balance		(1,240)	(940)
Licenses
Changes in intangible assets and goodwill
Beginning balance		83
Ending balance		56	83
Licenses | Gross carrying amount
Changes in intangible assets and goodwill
Beginning balance	245	245	245
Ending balance		245	245
Changes in property, plant and equipment
Adjusted	245
Licenses | Depreciation and amortization
Changes in intangible assets and goodwill
Beginning balance	(136)	(162)	(136)
Additions		27	26
Ending balance		(189)	(162)
Prepayments made on intangible assets
Changes in intangible assets and goodwill
Beginning balance		662
Ending balance		281	662
Prepayments made on intangible assets | Gross carrying amount
Changes in intangible assets and goodwill
Beginning balance	524	662	524
Additions		89	148
Disposals		16
Transfer		(454)	(10)
Ending balance		€ 281	€ 662
Changes in property, plant and equipment
Adjusted	€ 524

Other liabilities and provisi_3

Other liabilities and provisions (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of other provisions [line items]
Employee bonus	€ 334	€ 397
Liabilities from payroll	237	301
Accruals for commissions	236	38
Accrual for warranty	228	241
Accruals for compensation of supervisory board	180	180
Accruals for vacation and overtime	124	190
Accruals for licenses	68	62
Liabilities from VAT	27	32
Accrual for restructuring		604
Others	149	284
Total	1,583	2,329
Other non-current liabilities	€ 5
voxeljet AG
Disclosure of other provisions [line items]
Accrual for restructuring		453
voxeljet UK
Disclosure of other provisions [line items]
Accrual for restructuring		€ 151

Other liabilities and provisi_4

Other liabilities and provisions - Activity (Details) € in Thousands	12 Months Ended
	Dec. 31, 2020EUR (€)
Disclosure of other provisions [line items]
Beginning balance	€ 2,013
Usage	(2,013)
Addition	1,448
Ending balance	1,448
Employee bonus
Disclosure of other provisions [line items]
Beginning balance	397
Usage	(397)
Addition	334
Ending balance	334
Liabilities from payroll
Disclosure of other provisions [line items]
Beginning balance	301
Usage	(301)
Addition	237
Ending balance	237
Accruals for commissions
Disclosure of other provisions [line items]
Beginning balance	38
Usage	(38)
Addition	236
Ending balance	236
Accrual for warranty
Disclosure of other provisions [line items]
Beginning balance	241
Usage	(241)
Addition	228
Ending balance	228
Accruals for compensation of supervisory board
Disclosure of other provisions [line items]
Beginning balance	180
Usage	(180)
Addition	180
Ending balance	180
Accruals for vacation and overtime
Disclosure of other provisions [line items]
Beginning balance	190
Usage	(190)
Addition	124
Ending balance	124
Accruals for licenses
Disclosure of other provisions [line items]
Beginning balance	62
Usage	(62)
Addition	68
Ending balance	68
Accruals for education and training
Disclosure of other provisions [line items]
Addition	41
Ending balance	41
Restructuring.
Disclosure of other provisions [line items]
Beginning balance	604
Usage	€ (604)

Additional disclosures to fin_3

Additional disclosures to financial instruments (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financial instruments
Financial liabilities	€ 27,084	€ 21,156
Total liabilities
Financial instruments
Financial liabilities	29,040
Current liabilities
Financial instruments
Financial liabilities	21,726
Trade payables
Financial instruments
Financial liabilities	1,956	2,797
Financial liabilities
Financial instruments
Financial liabilities	19,770
Financial liabilities, at fair value	25,666
Financial liabilities | Level Two
Financial instruments
Financial liabilities, at fair value	808
Financial liabilities | Level Three
Financial instruments
Financial liabilities, at fair value	24,858
Derivative financial instruments
Financial instruments
Financial liabilities	808
Financial liabilities, at fair value	808
Derivative financial instruments | Level Two
Financial instruments
Financial liabilities, at fair value	808
Long term debt
Financial instruments
Financial liabilities	18,650	10,864
Financial liabilities, at fair value	24,858	10,858
Long term debt | Level Three
Financial instruments
Financial liabilities, at fair value	24,858	10,858
Lease liability
Financial instruments
Financial liabilities	312
Non-current liabilities
Financial instruments
Financial liabilities	7,314
Non-current financial liabilities
Financial instruments
Financial liabilities	7,314
Financial liabilities, at fair value	4,203
Non-current financial liabilities | Level Three
Financial instruments
Financial liabilities, at fair value	4,203
Non-current long term debt
Financial instruments
Financial liabilities	4,502	6,682
Financial liabilities, at fair value	4,203	6,148
Non-current long term debt | Level Three
Financial instruments
Financial liabilities, at fair value	4,203	6,148
Non-current lease liability
Financial instruments
Financial liabilities	2,812
Financial liabilities measured at amortized cost | Total liabilities
Financial instruments
Financial liabilities	25,108
Financial liabilities measured at amortized cost | Current liabilities
Financial instruments
Financial liabilities	20,606
Financial liabilities measured at amortized cost | Trade payables
Financial instruments
Financial liabilities	1,956	2,797
Financial liabilities measured at amortized cost | Financial liabilities
Financial instruments
Financial liabilities	18,650
Financial liabilities measured at amortized cost | Long term debt
Financial instruments
Financial liabilities	18,650	10,864
Financial liabilities measured at amortized cost | Non-current liabilities
Financial instruments
Financial liabilities	4,502
Financial liabilities measured at amortized cost | Non-current financial liabilities
Financial instruments
Financial liabilities	4,502
Financial liabilities measured at amortized cost | Non-current long term debt
Financial instruments
Financial liabilities	4,502	6,682
Total assets
Financial instruments
Financial assets	15,360
Current assets
Financial instruments
Financial assets	15,355
Cash and cash equivalents
Financial instruments
Financial assets	5,324	4,368
Financial assets, at fair value		4,368
Cash and cash equivalents | Level One
Financial instruments
Financial assets, at fair value		4,368
Financial assets
Financial instruments
Financial assets	5,351
Financial assets, at fair value	5,351
Financial assets | Level One
Financial instruments
Financial assets, at fair value	2,984
Financial assets | Level Two
Financial instruments
Financial assets, at fair value	2,367
Bond funds
Financial instruments
Financial assets	984	3,667
Financial assets, at fair value	984	3,667
Bond funds | Level One
Financial instruments
Financial assets, at fair value	984	3,667
Bond funds (restricted)
Financial instruments
Financial assets	2,000	2,000
Financial assets, at fair value	2,000	2,000
Bond funds (restricted) | Level One
Financial instruments
Financial assets, at fair value	2,000	2,000
Derivative financial instruments
Financial instruments
Financial assets	2,367
Financial assets, at fair value	2,367
Derivative financial instruments | Level Two
Financial instruments
Financial assets, at fair value	2,367
Note receivable
Financial instruments
Financial assets		1,278
Financial assets, at fair value		1,278
Note receivable | Level One
Financial instruments
Financial assets, at fair value		1,278
Restricted Cash
Financial instruments
Financial assets		463
Financial assets, at fair value		463
Restricted Cash | Level One
Financial instruments
Financial assets, at fair value		463
Trade receivables, net
Financial instruments
Financial assets	4,680	5,915
Non-current assets
Financial instruments
Financial assets	5
Non-current financial assets
Financial instruments
Financial assets	5
Financial assets, at fair value	5
Non-current financial assets | Level Three
Financial instruments
Financial assets, at fair value	5
Non-current derivative financial instruments
Financial instruments
Financial assets		2,274
Financial assets, at fair value		2,274
Non-current derivative financial instruments | Level Two
Financial instruments
Financial assets, at fair value		2,274
Non-current equity securities
Financial instruments
Financial assets	5	5
Financial assets, at fair value	5	5
Non-current equity securities | Level Three
Financial instruments
Financial assets, at fair value	5	5
FVTPL | Total liabilities
Financial instruments
Financial liabilities	808
FVTPL | Current liabilities
Financial instruments
Financial liabilities	808
FVTPL | Financial liabilities
Financial instruments
Financial liabilities	808
FVTPL | Derivative financial instruments
Financial instruments
Financial liabilities	808
FVTPL | Total assets
Financial instruments
Financial assets	5,351
FVTPL | Current assets
Financial instruments
Financial assets	5,351
FVTPL | Financial assets
Financial instruments
Financial assets	5,351
FVTPL | Bond funds
Financial instruments
Financial assets	984	3,667
FVTPL | Bond funds (restricted)
Financial instruments
Financial assets	2,000	2,000
FVTPL | Derivative financial instruments
Financial instruments
Financial assets	2,367
FVTPL | Note receivable
Financial instruments
Financial assets		1,278
FVTPL | Non-current derivative financial instruments
Financial instruments
Financial assets		2,274
FVOCI | Total assets
Financial instruments
Financial assets	5
FVOCI | Non-current assets
Financial instruments
Financial assets	5
FVOCI | Non-current financial assets
Financial instruments
Financial assets	5
FVOCI | Non-current equity securities
Financial instruments
Financial assets	5	5
Assets at amortized cost | Total assets
Financial instruments
Financial assets	20,008
Assets at amortized cost | Current assets
Financial instruments
Financial assets	10,004
Assets at amortized cost | Cash and cash equivalents
Financial instruments
Financial assets	5,324	4,368
Assets at amortized cost | Restricted Cash
Financial instruments
Financial assets		463
Assets at amortized cost | Trade receivables, net
Financial instruments
Financial assets	4,680	5,915
Fair value
Financial instruments
Financial assets	5,356	9,687
Fair value | Bond funds
Financial instruments
Financial assets	2,984	5,667
Fair value | Bond funds (restricted)
Financial instruments
Financial assets	2,000	2,000
Fair value | Derivative financial instruments
Financial instruments
Financial assets	2,367
Fair value | Note receivable
Financial instruments
Financial assets		1,278
Fair value | Restricted Cash
Financial instruments
Financial assets		463
Fair value | Non-current derivative financial instruments
Financial instruments
Financial assets		2,274
Fair value | Non-current equity securities
Financial instruments
Financial assets	€ 5	€ 5

Additional disclosures to fin_4

Additional disclosures to financial instruments - Gains and losses (Details) € in Thousands	12 Months Ended
	Dec. 31, 2020EUR (€)
Additional disclosures to financial instruments
Financial asset measured at amortized cost	€ (31)
Total interest expense	(3)
Other operating income from change of impairment	182
Other operating income from unrealized foreign currency translation	50
Other operating expense from change of impairment	(120)
Other operating expense from unrealized foreign currency translation	(140)
Financial asset measured at fair value through profit or loss	94
Total interest income	171
Total interest expense	(10)
Other operating income from unrealized foreign currency translation	32
Other operating expense from unrealized foreign currency translation	(99)
Financial liabilities measured at amortized cost	(1,769)
Total interest expense	(1,769)
Other operating income from unrealized foreign currency translation	3
Other operating expense from unrealized foreign currency translation	(3)
Financial liabilities measured at fair value through profit or loss	(808)
Total interest expense	(808)
Total	€ (2,514)

Additional disclosures to fin_5

Additional disclosures to financial instruments - Loans (Details) € in Thousands	Nov. 01, 2018shares	Dec. 22, 2017EUR (€)shares	Nov. 09, 2017EUR (€)tranche	Jun. 30, 2020EUR (€)shares	Apr. 30, 2019EUR (€)item	Dec. 31, 2020EUR (€)shares	Dec. 31, 2019EUR (€)item	Dec. 31, 2018EUR (€)	May 29, 2020	Mar. 31, 2020EUR (€)	Dec. 31, 2016EUR (€)	Feb. 29, 2016EUR (€)
Additional disclosures to financial instruments
Face value						€ 27,336	€ 22,732
Carrying amount						26,266	21,156
Cash collateral						2,000	2,000
Proceeds from issuance of long-term debt						€ 5,000	529	€ 1,639
Increase in shares issued (in shares) | shares						4,836,000
Property
Additional disclosures to financial instruments
Assets as collateral to bank						€ 15,000	5,000
Machinery
Additional disclosures to financial instruments
Assets as collateral to bank						€ 1,104	1,618
Kreissparkasse Augsburg, Germany
Additional disclosures to financial instruments
Cash collateral							2,000
Amount to be pledged to lender on failure to meet ability to service debt ratio							€ 2,000
Number of 3D printers serving as collateral | item							3
Secured Bank Loan, 2.47%
Additional disclosures to financial instruments
Nominal interest rate						2.47%						2.47%
Face value						€ 2,000	€ 2,000					€ 2,000
Carrying amount						€ 1,695	1,774
Secured Bank Loan, 2.72%
Additional disclosures to financial instruments
Nominal interest rate						2.72%						2.72%
Face value						€ 1,000	1,000					€ 1,000
Carrying amount						€ 848	887
Secured Bank Loan, 1.75%
Additional disclosures to financial instruments
Nominal interest rate						1.75%						1.75%
Face value						€ 1,000	1,000					€ 1,000
Carrying amount						€ 887	899
Secured Bank Loan, 2.42%
Additional disclosures to financial instruments
Nominal interest rate						2.42%					2.42%
Face value						€ 500	500				€ 500
Carrying amount						€ 429	448
Secured Bank Loan, 2.73%
Additional disclosures to financial instruments
Nominal interest rate						2.73%					2.73%
Face value						€ 500	500				€ 500
Carrying amount						€ 472	446
Secured Bank Loan, 2.49%
Additional disclosures to financial instruments
Nominal interest rate					2.49%	2.49%
Face value					€ 500	€ 500	500
Carrying amount						€ 332	429
Number of 3D printers serving as collateral | item					2
Maturity term					5 years
Secured bank loan, 3.27%
Additional disclosures to financial instruments
Nominal interest rate						3.27%
Face value						€ 800	800
Carrying amount							73
Secured Bank Loan, 2.29%
Additional disclosures to financial instruments
Nominal interest rate						2.29%
Face value						€ 700	700
Carrying amount						€ 110	254
Secured Bank Loan, 2.35%
Additional disclosures to financial instruments
Nominal interest rate						2.35%
Face value						€ 1,000	1,000
Carrying amount						€ 70	278
Secured Bank Loan, 2.48%
Additional disclosures to financial instruments
Nominal interest rate						2.48%
Face value						€ 675	675
Carrying amount						€ 238	376
Unsecured Bank Loan, 3.92%
Additional disclosures to financial instruments
Nominal interest rate						3.92%
Face value						€ 29	29
Carrying amount						€ 24	24
Unsecured Bank Loan, 2.90%
Additional disclosures to financial instruments
Nominal interest rate						2.90%
Face value						€ 40	40
Carrying amount						€ 10	17
Secured Bank Loan, 0.00%
Additional disclosures to financial instruments
Nominal interest rate						0.00%
Face value						€ 10,000	10,000
Carrying amount						€ 12,549	11,641
Secured Bank Loan, 12.00%
Additional disclosures to financial instruments
Nominal interest rate						12.00%
Face value						€ 5,000
Carrying amount						5,478
Lease liability
Additional disclosures to financial instruments
Face value						3,592	3,988
Carrying amount						€ 3,124	3,610
Lease liability | Minimum
Additional disclosures to financial instruments
Nominal interest rate						1.60%
Lease liability | Maximum
Additional disclosures to financial instruments
Nominal interest rate						9.30%
European Investment Bank
Additional disclosures to financial instruments
Assets as collateral to bank										€ 10,000
Maximum borrowing capacity			€ 25,000
Number of tranches | tranche			3
Maximum borrowing to total research and development and manufacturing capital expenditures (as a percent)			50.00%
Current debt							€ 10,000
European Investment Bank | PIK interest rate
Additional disclosures to financial instruments
Nominal interest rate									5.00%
European Investment Bank | Fixed interest rate
Additional disclosures to financial instruments
Nominal interest rate									7.00%
EIB-Tranche one
Additional disclosures to financial instruments
Nominal interest rate			0.00%
Proceeds from issuance of long-term debt		€ 10,000
Maturity term		5 years
Maximum borrowing capacity			€ 10,000
Increase in shares issued (in shares) | shares	254,527	195,790
Expiration term		10 years
EIB-Tranche two
Additional disclosures to financial instruments
Nominal interest rate			7.00%
Face value				€ 5,000
Proceeds from issuance of long-term debt				€ 5,000
Maturity term				5 years
Maximum borrowing capacity			€ 8,000
Increase in shares issued (in shares) | shares				404,928
Expiration term				10 years
EIB-Tranche three
Additional disclosures to financial instruments
Nominal interest rate			3.00%
Maximum borrowing capacity			€ 7,000

Cost of sales (Details)

Cost of sales (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cost of sales
Personnel expenses	€ (4,594)	€ (5,583)	€ (5,404)
Material costs	(6,559)	(6,796)	(7,082)
Depreciation	(2,158)	(2,686)	(2,197)
Other expenses	(1,502)	(2,382)	(2,598)
Allowance for slow-moving inventory	1	21	417
Total	(14,812)	(17,426)	(16,864)
Cost of maintenance	208	535
Travel expense	171	312	294
Insurance expense	283	269
Rental and building expenses	104	149	491
License fees	€ 53	€ 57	€ 92

Other operating income and ex_3

Other operating income and expense (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other operating income
Government grant income	€ 321	€ 21	€ 11
Amortization of gain on sale and leaseback transactions			119
Reimbursement of transaction costs	68	127	121
Gains from foreign exchange transactions	849	1,657	794
Other	365	338	252
Total	1,603	2,143	1,297
Movement of impairment on trade receivables	75	132	38
Other operating expense
Impairment loss on trade receivables	120	60	224
Losses from foreign exchange transactions	2,545	880	511
Impairment loss on inventory	100
Other	34	5	16
Total	€ 2,799	€ 945	€ 751

Financial result (Details)

Financial result (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial result
Interest expense	€ (2,589)	€ (1,349)	€ (1,279)
Interest expense on lease liability (2018: Finance lease obligations)	(167)	(190)	(69)
Long-term debt	(1,602)	(993)	(944)
Expense from revaluation of derivative financial instruments	(808)	(106)
Fair value valuation of financial assets	(10)		(136)
Other	(2)	(60)	(130)
Interest income	184	318	2,158
Payout of bond funds	78	126	58
Income from revaluation of derivative financial instruments	93		2,065
Fair value valuation of financial assets		174	18
Other	13	18	17
Financial result	€ (2,405)	€ (1,031)	€ 879

Income taxes - Income Tax (Deta

Income taxes - Income Tax (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income taxes
Deferred tax (expense) benefit	€ 88	€ (39)	€ (64)
Income tax (expense) income	€ 88	€ (39)	€ (64)

Income taxes - Deferred Tax (De

Income taxes - Deferred Tax (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets and liabilities
Deferred tax liabilities, net	€ (52)	€ (142)
Trade receivables
Deferred tax assets and liabilities
Deferred tax liabilities	(8)	(8)
Other receivables and current assets
Deferred tax assets and liabilities
Deferred tax assets	1,092	1,050
Deferred tax liabilities	(92)	(118)
Inventories
Deferred tax assets and liabilities
Deferred tax assets	16	11
Deferred tax liabilities	(291)
Property, Plant & Equipment
Deferred tax assets and liabilities
Deferred tax assets	5	99
Deferred tax liabilities	(559)	(603)
Trade liabilities
Deferred tax assets and liabilities
Deferred tax assets	429	206
Financial liabilities
Deferred tax assets and liabilities
Deferred tax assets	1,148	1,020
Deferred tax liabilities		(183)
Financial assets
Deferred tax assets and liabilities
Deferred tax assets	65
Deferred tax liabilities		(710)
Other current liabilities and provisions
Deferred tax assets and liabilities
Deferred tax assets	239	19
Deferred tax liabilities	(2,053)	(887)
Contract liabilities
Deferred tax assets and liabilities
Deferred tax assets	762	247
Deferred tax liabilities	(762)	(247)
Non-current other assets
Deferred tax assets and liabilities
Deferred tax liabilities	(28)
Non-current financial liabilities
Deferred tax assets and liabilities
Deferred tax assets	764
Non-current financial assets
Deferred tax assets and liabilities
Deferred tax liabilities	(663)
Intangible assets.
Deferred tax assets and liabilities
Deferred tax liabilities		(1)
Tax losses carried forward
Deferred tax assets and liabilities
Deferred tax assets	138	227
Tax assets (liabilities)
Deferred tax assets and liabilities
Deferred tax assets	4,410	2,615
Deferred tax liabilities	(4,462)	(2,757)
Valuation allowance
Deferred tax assets and liabilities
Deferred tax assets	248
Deferred tax liabilities	(6)	(265)
Set off of tax
Deferred tax assets and liabilities
Deferred tax assets	4,410	2,615
Deferred tax liabilities	€ (4,410)	€ (2,615)

Income taxes - Loss Carryforwar

Income taxes - Loss Carryforwards (Details) € in Thousands	Dec. 31, 2020EUR (€)
Corporation tax
Carryforward
Gross loss carryforwards	€ 49,698
Trade tax losses
Carryforward
Gross loss carryforwards	48,630
Foreign loss carryforwards | voxeljet America
Carryforward
Gross loss carryforwards	2,480
Foreign loss carryforwards | voxeljet China
Carryforward
Gross loss carryforwards	3,126
Foreign loss carryforwards | voxeljet India
Carryforward
Gross loss carryforwards	€ 326

Income taxes - Reconciliation (

Income taxes - Reconciliation (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of profit before income taxes to income tax
Loss before income tax	€ (15,569)	€ (13,939)	€ (8,683)
Prevailing statutory tax rate (as a percent)	28.00%
Tax expense at prevailing statutory rate (28%)	€ 4,359	3,903	2,431
Non-deductible expenses	(732)	(447)	(196)
Non-taxable income	80		242
Tax-rate related differences	(69)	(198)	(128)
Unrecognized temporary differences and tax losses	(3,550)	(3,297)	(2,413)
Income tax (expense) income	€ 88	€ (39)	€ (64)

Personnel expenses (Details)

Personnel expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Personnel expense
Wages and salaries	€ 11,568	€ 13,885	€ 12,772
Employee stock option plan	671	671	604
Social security contributions	2,289	2,710	2,527
Total employee benefits expense	14,528	17,266	15,903
MetallRente	65	66	61
German state plan
Personnel expense
Mandatory employer's contribution	€ 754	€ 889	€ 849

Segment reporting - Segments (D

Segment reporting - Segments (Details) € in Thousands	12 Months Ended
	Dec. 31, 2020EUR (€)segment	Dec. 31, 2019EUR (€)	Dec. 31, 2018EUR (€)
Segment reporting
Number of reportable segments | segment	2
Revenues	€ 21,567	€ 24,602	€ 26,009
Cost of sales	(14,812)	(17,426)	(16,864)
Gross profit	€ 6,755	7,176	9,145
Gross profit margin (as a percent)	31.30%
Operating Expense	€ (18,723)
Other operating expenses	(2,799)	(945)	(751)
Other operating income	1,603	2,143	1,297
Operating loss	(13,164)	(12,908)	(9,562)
Finance expense	(2,589)	(1,349)	(1,279)
Finance income	184	318	2,158
Financial result	(2,405)	(1,031)	879
Loss before income tax	(15,569)	(13,939)	(8,683)
Income tax (expense) income	88	(39)	(64)
Net loss	(15,481)	(13,978)	(8,747)
PPE	23,774	27,343
Systems
Segment reporting
Revenues	12,556	13,454	12,248
Cost of sales	(8,115)
Gross profit	€ 4,441	€ 4,284	€ 3,708
Gross profit margin (as a percent)	35.40%	31.80%	30.30%
PPE		€ 13,093	€ 11,804
Sale of used printers	€ 2,328	2,007	1,489
Services
Segment reporting
Revenues	9,011	11,148	13,761
Cost of sales	(6,697)
Gross profit	€ 2,314	€ 2,892	€ 5,437
Gross profit margin (as a percent)	25.70%	25.90%	39.50%
PPE		€ 14,250	€ 15,871
Operating segments
Segment reporting
Revenues	€ 21,567
Operating segments | Systems
Segment reporting
Revenues	13,159
Operating segments | Services
Segment reporting
Revenues	9,011
Intra-segment
Segment reporting
Revenues	(603)
Intra-segment | Systems
Segment reporting
Revenues	€ (603)

Segment reporting - Geographic

Segment reporting - Geographic (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues and non-current assets by geographical region
Revenues	€ 21,567	€ 24,602	€ 26,009
Non-current assets	25,090	31,052
EMEA
Revenues and non-current assets by geographical region
Revenues	11,466	11,265	14,673
Non-current assets	19,730	23,211
Germany
Revenues and non-current assets by geographical region
Revenues	4,647	4,474	6,605
Non-current assets	19,730	23,208
France
Revenues and non-current assets by geographical region
Revenues	841	1,314	2,667
Great Britain
Revenues and non-current assets by geographical region
Revenues	963	1,224	1,050
Non-current assets		3
Others-EMEA
Revenues and non-current assets by geographical region
Revenues	5,015	4,253	4,351
Russia
Revenues and non-current assets by geographical region
Revenues	1,322
Asia Pacific
Revenues and non-current assets by geographical region
Revenues	4,521	6,302	5,450
Non-current assets	1,609	2,095
South Korea
Revenues and non-current assets by geographical region
Revenues	1,787	1,242	888
China
Revenues and non-current assets by geographical region
Revenues	1,101	3,993	2,134
Indonesia
Revenues and non-current assets by geographical region
Revenues	93	55	1,819
Others-Asia Pacific
Revenues and non-current assets by geographical region
Revenues	1,540	1,012	609
Japan
Revenues and non-current assets by geographical region
Revenues	1,406
Americas
Revenues and non-current assets by geographical region
Revenues	5,580	7,035	5,886
Non-current assets	3,751	5,746
United States
Revenues and non-current assets by geographical region
Revenues	5,453	6,843	5,802
Non-current assets	3,751	5,746
Others-Americas
Revenues and non-current assets by geographical region
Revenues	€ 127	€ 192	€ 84

Financial risk management (Deta

Financial risk management (Details) $ / shares in Units, € in Thousands, £ in Millions, $ in Millions	Dec. 22, 2017EUR (€)	Jun. 30, 2020EUR (€)	Dec. 31, 2020GBP (£)$ / shares	Dec. 31, 2020EUR (€)	Dec. 31, 2019EUR (€)	Dec. 31, 2018EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2019GBP (£)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)
Financial risk
Percentage of revenue generated				31.30%
Proceeds from issuance of long-term debt				€ 5,000	€ 529	€ 1,639
increase/decrease of the price per ADR | $ / shares			$ 1
Historical volatility for shares, measurement input
Financial risk
Increase of derivative asset				207
Decrease of derivative asset				207
Increase of derivative liability				330
Decrease of derivative liability				€ 330
Interest rate risk
Financial risk
Change in interest rate( as a percent)				0.001
Impact of change in interest rate				€ 2
Eurozone | Foreign exchange risk
Financial risk
Revenue invoiced (as a percent)				68.00%	62.00%	70.00%
Percentage of revenue generated				31.70%
voxeljet UK
Financial risk
Amount borrowed by affiliate			$ 7.9					€ 8,700	£ 7.8		€ 9,100
Increase/decrease in designated risk component (as a percent)			10.00%				10.00%	10.00%	10.00%	10.00%	10.00%
Loss due to relative change				€ 800	€ 800
Gain due to relative change				1,000
voxeljet America
Financial risk
Amount borrowed by affiliate							$ 9	€ 7,400		$ 5.6	€ 5,000
Increase/decrease in designated risk component (as a percent)			10.00%				10.00%	10.00%	10.00%	10.00%	10.00%
Loss due to relative change				700	€ 500
Gain due to relative change				€ 800
EIB-Tranche one
Financial risk
Proceeds from issuance of long-term debt	€ 10,000
EIB-Tranche one | Interest rate risk
Financial risk
Proceeds from issuance of long-term debt	€ 10,000
Effective interest rate (as a percent)			7.58%				7.58%	7.58%
EIB-Tranche two
Financial risk
Proceeds from issuance of long-term debt		€ 5,000
EIB-Tranche two | Interest rate risk
Financial risk
Proceeds from issuance of long-term debt		€ 5,000
Effective interest rate (as a percent)			17.57%				17.57%	17.57%

Financial risk management - Cre

Financial risk management - Credit risk (Details) - EUR (€) € in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Customer loans	€ 0	€ 0
Credit risk
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Maximum exposure to credit risk	€ 15.4	€ 17.7

Financial risk management - ECL

Financial risk management - ECLs (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [line items]
Trade receivables	€ 4,680	€ 5,915
Gross carrying amount
Disclosure of detailed information about financial instruments [line items]
Trade receivables	4,788	6,048
Impairment loss allowance
Disclosure of detailed information about financial instruments [line items]
Trade receivables	€ 108	€ 133
Grade 1 to 4, Low Risk
Disclosure of detailed information about financial instruments [line items]
Weighted-average loss rate	0.20%	0.20%
Trade receivables	€ 1,684	€ 2,396
Grade 1 to 4, Low Risk | Gross carrying amount
Disclosure of detailed information about financial instruments [line items]
Trade receivables	1,686	2,400
Grade 1 to 4, Low Risk | Impairment loss allowance
Disclosure of detailed information about financial instruments [line items]
Trade receivables	€ 2	€ 4
Grade 5 to 7, Fair Risk
Disclosure of detailed information about financial instruments [line items]
Weighted-average loss rate	1.30%	1.30%
Trade receivables	€ 2,180	€ 3,090
Grade 5 to 7, Fair Risk | Gross carrying amount
Disclosure of detailed information about financial instruments [line items]
Trade receivables	2,209	3,132
Grade 5 to 7, Fair Risk | Impairment loss allowance
Disclosure of detailed information about financial instruments [line items]
Trade receivables	€ 29	€ 42
Grade 8 to 9, Substandard
Disclosure of detailed information about financial instruments [line items]
Weighted-average loss rate	7.00%	7.00%
Trade receivables	€ 815	€ 217
Grade 8 to 9, Substandard | Gross carrying amount
Disclosure of detailed information about financial instruments [line items]
Trade receivables	876	233
Grade 8 to 9, Substandard | Impairment loss allowance
Disclosure of detailed information about financial instruments [line items]
Trade receivables	€ 61	€ 16
Grade 10 Doubtful
Disclosure of detailed information about financial instruments [line items]
Weighted-average loss rate	25.00%	25.00%
Trade receivables	€ 1	€ 212
Grade 10 Doubtful | Gross carrying amount
Disclosure of detailed information about financial instruments [line items]
Trade receivables	2	283
Grade 10 Doubtful | Impairment loss allowance
Disclosure of detailed information about financial instruments [line items]
Trade receivables	€ 1	€ 71
Grade 11 Loss
Disclosure of detailed information about financial instruments [line items]
Weighted-average loss rate	100.00%	100.00%
Trade receivables	€ 0
Grade 11 Loss | Gross carrying amount
Disclosure of detailed information about financial instruments [line items]
Trade receivables	15
Grade 11 Loss | Impairment loss allowance
Disclosure of detailed information about financial instruments [line items]
Trade receivables	€ 15

Financial risk management - Mat

Financial risk management - Maturities (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financial liabilities
Bank borrowings carrying amount	€ 26,266	€ 21,156
Lease liabilities.	3,124	3,610
Trade payables carrying amount	1,956	2,797
Liquidity risk
Financial liabilities
Bank borrowings carrying amount	23,152	17,546
Lease liabilities.	3,124	3,610
Trade payables carrying amount	1,956	2,797
Total carrying amount	28,232	23,953
Bank borrowings contractual cash flow	(31,280)	(22,050)
Lease liability contractual cash flow	(3,715)	(4,409)
Trade payables contractual cash flow	(1,956)	(2,797)
Total contractual cash flow	(36,951)	(29,256)
Liquidity risk | 2 months or less
Financial liabilities
Bank borrowings contractual cash flow	(295)	(178)
Lease liability contractual cash flow	(71)	(102)
Trade payables contractual cash flow	(1,956)	(2,797)
Total contractual cash flow	(2,322)	(3,077)
Liquidity risk | 2 to 12 months
Financial liabilities
Bank borrowings contractual cash flow	(25,236)	(10,818)
Lease liability contractual cash flow	(341)	(447)
Total contractual cash flow	(25,577)	(11,265)
Liquidity risk | 1 to 3 years
Financial liabilities
Bank borrowings contractual cash flow	(915)	(1,252)
Lease liability contractual cash flow	(1,627)	(1,054)
Total contractual cash flow	(2,542)	(2,306)
Liquidity risk | 3 to 5 years
Financial liabilities
Bank borrowings contractual cash flow	(625)	(5,296)
Lease liability contractual cash flow	(637)	(1,307)
Total contractual cash flow	(1,262)	(6,603)
Liquidity risk | More than 5 years
Financial liabilities
Bank borrowings contractual cash flow	(4,209)	(4,506)
Lease liability contractual cash flow	(1,039)	(1,499)
Total contractual cash flow	€ (5,248)	€ (6,005)

Reconciliation of movements o_3

Reconciliation of movements of liabilities to cash flows arising from financing activities (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Balance at January 1	€ 53,932	€ 62,435
Restated balance at January 1			€ 65,904
Changes from financing cash flows
Proceeds from loans and borrowings	5,000	529
Repayment of borrowings	(863)	(969)
Payment of finance lease liabilities	(412)	(397)
Total changes from financing cash flows	3,725	(837)
Other changes Liability-related
New leases	(138)	954
Reclassification	22	399
Interest expense	1,769	1,183
Interest paid	(258)	(1,183)
Total liability-related other changes	1,395	1,353
Total equity-related other changes	(14,810)	(12,488)
Balance at December 31	44,242	53,932
Subscribed capital
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Balance at January 1	4,836	4,836
Restated balance at January 1			4,836
Other changes Liability-related
Balance at December 31	4,836	4,836
Capital reserves
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Balance at January 1	88,077	86,803
Restated balance at January 1			86,803
Other changes Liability-related
Total equity-related other changes	671	1,274
Balance at December 31	88,748	88,077
Accumulated deficit
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Balance at January 1	(60,124)	(46,410)
Restated balance at January 1			(46,410)
Other changes Liability-related
Total equity-related other changes	(15,339)	(13,714)
Balance at December 31	(75,463)	(60,124)
Non-controlling interests
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Balance at January 1	(13)	35
Restated balance at January 1			35
Other changes Liability-related
Total equity-related other changes	(142)	(48)
Balance at December 31	(155)	(13)
IFRS 16
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Restated balance at January 1			3,469
Other loans and borrowings
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Balance at January 1	17,546	17,066
Restated balance at January 1			17,066
Changes from financing cash flows
Proceeds from loans and borrowings	5,000	529
Repayment of borrowings	(863)	(969)
Total changes from financing cash flows	4,137	(440)
Other changes Liability-related
Reclassification		920
Interest expense	1,602	993
Interest paid	(133)	(993)
Total liability-related other changes	1,469	920
Balance at December 31	23,152	17,546
Lease liability
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Balance at January 1		105
Lease liability | IFRS 16
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Restated balance at January 1			(105)
Lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Balance at January 1	3,610
Restated balance at January 1			3,574
Changes from financing cash flows
Payment of finance lease liabilities	(412)	(397)
Total changes from financing cash flows	(412)	(397)
Other changes Liability-related
New leases	(138)	954
Reclassification	22	(521)
Interest expense	167	190
Interest paid	(125)	(190)
Total liability-related other changes	(74)	433
Balance at December 31	€ 3,124	€ 3,610
Lease liabilities | IFRS 16
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Restated balance at January 1			€ 3,574

Capital management (Details)

Capital management (Details) € in Thousands	12 Months Ended
	Dec. 31, 2020EUR (€)	Dec. 31, 2019EUR (€)	Dec. 31, 2018EUR (€)	Dec. 31, 2017EUR (€)
Capital management
Equity	€ 19,641	€ 33,518	€ 46,584	€ 43,699
Share of total equity and liabilities	36.9	53.6
Current financial liabilities	€ 19,770	€ 11,290
Non-current financial liabilities	7,314	9,866
Total financial liabilities	€ 27,084	€ 21,156
Share of total equity and liabilities	50.9	33.8
Total equity and liabilities	€ 53,227	€ 62,565

Leases - Right-of-use assets (D

Leases - Right-of-use assets (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases
Right-of-use asset at beginning	€ 3,984
Depreciation charge of the year	(682)	€ (765)
Right-of-use asset at ending	3,191	3,984
Right-of-use assets
Leases
Right-of-use asset at beginning	3,984
Depreciation charge of the year	(682)
Additions to the right-of-use assets	159
Derecognition of the right-of-use assets	(68)
FX	(201)
Right-of-use asset at ending	3,191	3,984
Property
Leases
Right-of-use asset at beginning	3,658
Depreciation charge of the year	(508)
Additions to the right-of-use assets	11
Derecognition of the right-of-use assets	(68)
FX	(201)
Right-of-use asset at ending	2,892	3,658
Machinery
Leases
Right-of-use asset at beginning	72
Depreciation charge of the year	(27)
Right-of-use asset at ending	45	72
Other PPE
Leases
Right-of-use asset at beginning	254
Depreciation charge of the year	(147)
Additions to the right-of-use assets	148
FX	(1)
Right-of-use asset at ending	€ 254	€ 254

Leases - Income and cash flow (

Leases - Income and cash flow (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases
Interest expense on lease liabilities	€ 167	€ 190	€ 69
Expenses relating to short-term-leases		39
Depreciation charge of the year	682	765
Cash outflow for leases	€ (412)	€ (397)

Leases - Lessor (Details)

Leases - Lessor (Details) € in Thousands	Dec. 31, 2019EUR (€)
Less than one year
Leases
Operating lease under IFRS 16	€ 38

Related party transactions - Ke

Related party transactions - Key Management (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Fixed compensation	€ 761	€ 782	€ 781
Variable compensation	0	0	0
Compensation from stock option plan	353	353	360
Total	1,114	€ 1,135	€ 1,141
Supervisory board remuneration	180
Ordinary members
Disclosure of transactions between related parties [line items]
Supervisory board remuneration	40
Chairman
Disclosure of transactions between related parties [line items]
Supervisory board remuneration	80
Vice chairman
Disclosure of transactions between related parties [line items]
Supervisory board remuneration	€ 60

Related party transactions - Ot

Related party transactions - Other (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Office space Augsburg, Germany
Related parties
Rent expense	€ 3	€ 2	€ 2
Paintings in administrative building
Related parties
Rent expense			2
Acquired goods from related parties		2
Schlosserei und Metallbau Ederer, Dießen
Related parties
Acquired goods from related parties	0	0	7
Andreas Schmid Logistik AG, Gersthofen
Related parties
Services received from related parties	25	56	74
Suzhou Meimai Fast Manufacturing Technology Co., Ltd, Suzhou
Related parties
Revenue from related parties	25	164	175
DSCS Digital Supply Chain Solutions GmbH, Gersthofen
Related parties
Revenue from related parties	€ 0	€ 13	€ 0
Ownership interest in associate (as a percent)	33.30%	33.30%	33.30%
Michele Neuber
Related parties
Services received from related parties	€ 2	€ 2
Simon Franz
Related parties
Services received from related parties		€ 9	€ 12

Equity (Details)

Equity (Details) € / shares in Units, $ / shares in Units, $ in Millions	Feb. 17, 2021USD ($)$ / sharesshares	Feb. 17, 2021EUR (€)shares	Jan. 25, 2021USD ($)$ / sharesshares	Jan. 25, 2021EUR (€)shares	Jul. 31, 2020	Nov. 08, 2018EUR (€)shares	Oct. 17, 2018EUR (€)shares	Dec. 31, 2020EUR (€)Voteshares	Dec. 31, 2018EUR (€)	Mar. 01, 2021shares	Feb. 17, 2021€ / shares	Feb. 09, 2021$ / shares	Jan. 25, 2021€ / shares	Jan. 14, 2021$ / shares	Dec. 31, 2020$ / sharesshares	Dec. 31, 2020€ / sharesshares	Oct. 17, 2018$ / sharesshares
Equity
Shares outstanding (in shares)										5,900,584
Increase in shares issued (in shares)								4,836,000
Net proceeds from the offering | €									€ 11,088,000
Ordinary shares
Equity
Shares issued (in shares)															4,836,000	4,836,000
Par value per share | (per share)															$ 0	€ 0
Shares outstanding (in shares)															4,836,000	4,836,000
Number of votes | Vote								1
Increase in shares issued (in shares)						144,000	972,000
Net proceeds from the offering | €						€ 1,400,000	€ 9,700,000
Share issue costs | €								€ 600,000
Maximum authorized share capital | €								€ 1,353,416
Number of new shares authorized (in shares)								1,353,416
American Depositary Shares
Equity
Increase in shares issued (in shares)						720,000	4,860,000
Offering price (in dollars per share) | $ / shares																	$ 2.57
Number of shares purchased by management																	233,462
Share transaction | Ordinary shares
Equity
Offering price (in dollars per share) | $ / shares	$ 26.95		$ 16.16
Share transaction | American Depositary Shares
Equity
Par value per share | (per share)											€ 22.27	$ 26.95	€ 13.33	$ 16.16
Increase in shares issued (in shares)	443,414	443,414	621,170	621,170
Offering price (in dollars per share) | € / shares											€ 22.27		€ 13.33
Net proceeds from the offering	$ 12	€ 9,900,000	$ 10	€ 8,300,000
Reverse stock split ratio					0.2

Subsequent events (Details)

Subsequent events (Details) € / shares in Units, $ / shares in Units, € in Thousands, $ in Millions	Mar. 01, 2021€ / sharesshares	Feb. 17, 2021USD ($)$ / sharesshares	Feb. 17, 2021EUR (€)shares	Jan. 25, 2021USD ($)$ / sharesshares	Jan. 25, 2021EUR (€)shares	Nov. 08, 2018EUR (€)shares	Oct. 17, 2018EUR (€)shares	Jun. 30, 2020EUR (€)shares	Dec. 31, 2020EUR (€)€ / sharesshares	Dec. 31, 2019EUR (€)€ / shares	Dec. 31, 2018EUR (€)€ / shares	Feb. 17, 2021€ / shares	Jan. 25, 2021€ / shares	Oct. 17, 2018$ / shares
Subsequent events
Increase in shares issued (in shares)									4,836,000
Proceeds from issuance of shares | €											€ 11,088
Number of shares outstanding	5,900,584
Loss per share - basic/diluted (in EUR per share) | € / shares	€ (2.61)								€ (3.20)	€ (2.89)	€ (2.22)
Proceeds from issuance of long-term debt | €									€ 5,000	€ 529	€ 1,639
Ordinary shares
Subsequent events
Increase in shares issued (in shares)						144,000	972,000
Proceeds from issuance of shares | €						€ 1,400	€ 9,700
Number of shares outstanding									4,836,000
American Depositary Shares
Subsequent events
Increase in shares issued (in shares)						720,000	4,860,000
Offering price (in dollars per share) | $ / shares														$ 2.57
EIB-Tranche two
Subsequent events
Increase in shares issued (in shares)								404,928
Proceeds from issuance of long-term debt | €								€ 5,000
Share transaction | Ordinary shares
Subsequent events
Offering price (in dollars per share) | $ / shares		$ 26.95		$ 16.16
Share transaction | American Depositary Shares
Subsequent events
Increase in shares issued (in shares)		443,414	443,414	621,170	621,170
Offering price (in dollars per share) | € / shares												€ 22.27	€ 13.33
Proceeds from issuance of shares		$ 12	€ 9,900	$ 10	€ 8,300