Materialise has been saved
Ensuring a sustainable future by offering tailor-made multidisciplinary services
For Belgium-based high-tech firm Materialise, sustainability has various facets. Its 3D printing innovations use lighter (or less) material than conventional fabrication methods, without compromising quality. The technology allows goods to be made on the spot where they’re needed, cutting transport costs and CO₂ emissions. And the company is working to lower consumption of water, energy and materials. Moreover, the firm realised it needed a sustainable tax strategy. One that would work not only today, but also tomorrow. Looking for a tax partner that could bring the most added value, Materialise chose Deloitte Private.
The story begins in early 2016 with Deloitte’s International Tax team, a part of Deloitte Private, which provides multidisciplinary services to Belgium’s family-owned firms, growth companies and high-net-worth individuals. Business Tax Partner Glenn Verstraelen recalls, “First we had a kick-off meeting with the CEO and CFO to learn about their needs and objectives. They wanted a global advisor with one point of contact.”
Deloitte was asked to examine the company’s overall tax strategy. At the time, each country had its own cost-driven approach. This didn't take into account the full picture, for example how an action in one country might violate tax strategy in another. “We started by looking at operations, people and where the company’s intellectual property is located,” Glenn Verstraelen says. “We then did several projects, prioritising the jobs and taking it step by step.”
The International Tax team succeeded in reducing the company’s effective tax rate and rationalised the group structure in several European countries. Working with Deloitte Shanghai, it also assisted Materialise by advising on legal contracts and transfer pricing for its operations in China.
At first, the team focused mainly on tax and then expanded to provide other services, for instance, finding additional financing for R&D projects. Deloitte was able to bring in specialists from across the firm, as well as from Laga, who helped Materialise explore new funding opportunities. And recently, Consulting has been providing pricing analysis services for the company’s healthcare segment.
We’re working together with Deloitte Private to ensure a sustainable future for our company. They not only advise us on tax, legal, financial advisory and consulting matters, but can also tap into their global network.
Johan Albrecht, CFO Materialise
Deloitte Private - Client references - Materialise
For high-tech firm Materialise, sustainability has many facets. While moving to 3D printing, incorporating more technology and lowering its consumption of water, energy and materials, the firm realised it also needed a sustainable tax strategy. Looking for a tax partner that could bring the most added value, Materialise chose Deloitte Private.