Nemetschek expects further growth in 2012

  • Target for margin achieved
  • dividend of 1.15 euros planned
  • revenue of around 180 million euros expected for 2012

Munich, March 30, 2012 – Nemetschek AG (ISIN 0006452907), Europe's largest vendor of software for architecture and the building industry, published its annual report today. As reported on publication of the provisional figures, the group was able to increase revenues by 10 percent in 2011 to 164 million euros (previous year 149.7 million euros).

The operating result (EBITDA) rose 6 percent to 39.3 million euros, while the EBITDA margin was at 24 percent, as forecast at the start of the year. The margin was thus slightly below the previous year's level (25 percent); this is due to group-wide investments in future revenue growth, as well as one-time effects in the operating costs. The EBIT increased by 6 percent to 29.1 million euros. Due to deferred tax income of 1.4 million euros, the net income (group shares) rose by 10 percent to 20.8 million euros. As a result, the earnings per share (group shares) were 2.16 euros, compared with 1.97 euros in the previous year.

At the end of the year, the number of employees in the group had risen from 1,076 to 1,173.

Free cash flow rose by 11 percent

The strong operating result is also reflected in the cash flow: In a year-on-year comparison, the cash flow from operating activities rose by 15 percent to 37.1 million euros. Adjusted to take account of the one-time effects from the previous year, the cash flow from investment activities was -5.6 million euros, and thus largely unchanged compared with the previous year. Consequently, the free cash flow rose by 11 percent to 31.5 million euros in 2011. The net liquidity was 28.8 million euros, compared with 11.1 million euros in the previous year. The equity ratio of the Nemetschek Group is 64 percent.

As a result of this situation, the managing board and supervisory board decided to propose an increase in the dividend from 1.00 to 1.15 euros at the AGM in May. 'In view of the good results for 2011, we want to enable shareholders to share in this success,' said Tim Alexander Lüdke, CEO of Nemetschek AG.

Renewed increase in revenue again in 2012

Provided the underlying conditions remain largely stable, Nemetschek is again planning a clear increase in revenue of 10 percent to approximately 180 million euros for 2012. The managing board expects the 2012 EBITDA margin to remain at a level similar to that in 2011.

To achieve its growth targets, the group is primarily intending to drive forward its strategy of internationalization. In this respect, the large subsidiaries are planning investments to strengthen their market presence, measures that will be supported by various initiatives by the holding company. This is expected to lead to a further moderate increase in the headcount.

Group P+L

EUR millions20102011%-chg.Q4 2010Q4 2011%-chg.
Revenues149.7164.0+10%41.546.1+11%
t/o Software and Licences74.981.3+9%21.424.6+15%
t/o Maintenance66.874.3+11%17.719.0+7%
EBITDA37.139.3+6%10.511.4+9%
Margin25%24% 25%25% 
Net income (group shares)18.920.8+10%5.87.5+29%
EPS1.972.16 0.600.78 

Divisions

EUR millions20102011%-chg.Q4 2010Q4 2011%-chg.
Design      
Revenues121.6132.6+9%33.537.6+12%
EBITDA27.328.1+3%7.78.4+9%
Margin22%21% 23%22% 
Build      
Revenues13.513.8+2%3.63.7+3%
EBITDA5.34.8-9%1.61.4-13%
Margin39%35% 23%22% 
Manage      
Revenues3.63.7+3%0.91.0+11%
EBITDA0.310.26-16%0.04-0.01k.A.
Margin9%7% 4%-1% 
Multimedia      
Revenues11.113.9+25%3.43.8+12%
EBITDA4.26.2+48%1.31.5+15%
Margin38%45% 38%39%