Materialise: Strong Q3 Results Despite Ongoing Market Headwinds

Company Performance - Materialise (NASDAQ: MTLS) reported strong results in Q3, driven primarily by its Medical segment despite a challenging demand environment and headwinds from a business model transition in the Software segment [1] Investment Strategy - Narweena, an asset manager, focuses on identifying market dislocations due to poor understanding of long-term business prospects, aiming for excess risk-adjusted returns by targeting businesses with secular growth opportunities in markets with barriers to entry [1] - The research process emphasizes company and industry fundamentals to uncover unique insights, with a high risk appetite and long-term investment horizon [1] Market Trends - An aging population with low growth and stagnating productivity is expected to create new investment opportunities, contrasting with past trends [1] - Many industries may face stagnation or secular decline, which could paradoxically enhance business performance as competition diminishes [1] - The economy is increasingly dominated by asset-light businesses, leading to a declining need for infrastructure investments over time [1] - A large pool of capital is pursuing a limited set of investment opportunities, resulting in rising asset prices and compressed risk premia [1]