Nemetschek Group gets off to dynamic start in 2016 – strong growth and high profitability

  • Revenue grows by 16.7% to EUR 77.7 million in Q1
  • EBITDA increases over-proportionally compared to revenue, reaching EUR 21.0 million (+21.0%)
  • EBITDA margin improves to 27.0%
  • Earnings per share rises considerably by 31.6% to EUR 0.29

Munich, April 29, 2016 – After record year 2015, the Nemetschek Group (ISIN DE0006452907), a leading provider of software solutions for the AEC (Architecture, Engineering, Construction) industry, got off to a dynamic start in the new financial year 2016 and continues on its growth course. The greatest growth impulses originated from abroad.

Major indicators of the Group’s success

  • Group revenue in the first quarter rose to EUR 77.7 million, a growth of 16.7% compared to the same quarter in the previous year (EUR 66.6 million). Organic growth amounted to 15.6%.
  • The Nemetschek Group further reinforced its international alignment. In the first three months of 2016, revenue abroad rose by 20.8% to EUR 53.3 million (previous year’s period: EUR 44.2 million). Thus the nondomestic proportion of Group revenue increased from approximately 66% to 69%.
  • With a plus of 17.1% to EUR 40.3 million (previous year’s period: EUR 34.4 million), revenue from software licenses constituted a further growth driver. Recurring revenue increased by 16.1% to EUR 33.3 million (previous year’s period: EUR 28.7 million).
  • Earnings before interest, taxes, depreciation and amortization (EBITDA) increased over-proportionally compared to revenue with 21.0%, rising to EUR 21.0 million (previous year: EUR 17.4 million). Subsequently, it was possible to improve the EBITDA margin, which rose to a high 27.0% from 26.1% in the previous year’s period.
  • Net income for the year (Group shares) rose considerably by 31.6% to EUR 11.0 million (previous year’s period: EUR 8.4 million). Earnings per share increased correspondingly from EUR 0.22 to EUR 0.29.
  • Net income for the year, adjusted for depreciation and amortization from purchase price allocation (PPA), rose by 27.5% to EUR 13.0 million (Q1 2015: EUR 10.2 million). This corresponds to an adjusted earnings per share figure of EUR 0.34 (previous year’s period: EUR 0.26 per share).

“We got the year off to an outstanding start with a smooth continuation of the strong development of the previous year. Our strategic investments in new brands, solutions and markets are paying off. Nemetschek has again been able to further extend its worldwide market position,” comments Patrik Heider, Spokesman and CFOO of the Nemetschek Group.

Accounting ratios show financial strengths and soundness of the Group

The Group’s net asset structure and financial position remain extremely sound. As of March 31, 2016, the equity ratio rose to 44.5% (December 31, 2015: 44.0%). Moreover, the Nemetschek Group demonstrates very good cash generation with simultaneously high-quality growth. As of March 31, 2016, cash and cash equivalents increased to EUR 97.2 million (December 31, 2015: EUR 84.0 million) and net liquidity improved to EUR 21.2 million (December 31, 2015: EUR 3.3 million).

Development of the segments

In the Design segment, revenue in Q1 rose by 11.6% to EUR 51.4 million (previous year’s period: EUR 46.1 million). EBITDA increased by 16.0% to EUR 13.5 million (Q1 2015: EUR 11.6 million). The EBITDA margin rose correspondingly from 25.1% in the previous year to 26.1%. This growth can be traced back to practically all regions and brands.

As a result of the Solibri acquisition, the Build segment underwent great expansion. Segment revenue increased by 41.2% to EUR 19.5 million (previous year’s period: EUR 13.8 million). Organically as well – particularly as a result of the Bluebeam brand acquired in 2014 – revenue rose considerably by about 34%. EBITDA leapt by 66.0% from EUR 3.0 million to EUR 5.0 million, which caused the EBITDA margin to increase significantly by 3.8 percentage points to 25.6%.

In the Manage segment, revenue rose by 13.0% to EUR 1.5 million (previous year: EUR 1.3 million). EBITDA even rose by 56.8% to EUR 0.2 million, which corresponds to an EBITDA margin of 13.7% (previous year’s period: 9.8%).

The Media & Entertainmen segment was able to keep its revenue stable at the previous year’s level with EUR 5.2 million (previous year: EUR 5.3 million). EBITDA was EUR 2.3 million (previous year’s period: EUR 2.6 million), which corresponds to an EBITDA margin of 45.1% (Q1 2015: 49.7%).

Outlook for the whole of 2016 affirmed

Following the favorable start of the year, the executive board affirms the communicated targets for the fiscal year of 2016. It anticipates Group revenue ranging from EUR 319 million to EUR 325 million and an EBITDA of between EUR 77 million and EUR 80 million.

Overview of key figures

In EUR millionQ1 2016Q1 2015Δ in %
Revenue77.766.6+16.7%
- Of this software licenses

40.3

34.4+17.1%
- Of this software service33.328.7+16.1%
EBITDA21.017.4+21.0%
Margin27.0%26.1% 
EBITA (normalized EBIT)19.315.8+22.3%
Margin24.8%23.7% 
Net income (Group shares)11.08.4+31.6%
Earnings per share in euros0.290.22*+31.6%
Net income (Group shares) before depreciation and amortization from purchase price allocation13.010.2+27.5%
Earnings per share before depreciation and amortization from purchase price allocation0.340.26*+27.5%

For reasons of better comparability, the earnings per share after the stock split are shown

Key figures by segment

In EUR millionQ1 2016Q1 2015Δ in %
Design   
Revenue51.446.1+11.6%
EBITDA13.511.6+16.0%
Margin26.1%25.1% 
Build   
Revenue19.513.8+41.2%
EBITDA5.03.0+66.0%
Margin25.6%21.8% 
Manage   
Revenue1.51.3+13.0%
EBITDA0.20.1+56.8%
Margin13.7%9.8% 
Media & Entertainment   
Revenue5.25.3-1.6%
EBITDA2.32.6-10.7%
Margin45.1%49.7% 

The complete 3-month report for 2016 is available for download in the Investor Relations section of the company website.

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