Munich, March 27, 2009 – Nemetschek AG (ISIN 0006452907), Europe's largest vendor of software for architecture, civil engineering and the building industry published its annual report for 2008 today. As was announced with the provisional figures, revenues increased by 2.9 percent to 150.4 million euros, two thirds of which was generated abroad. The EBITDA amounted to 31.4 million euros after 33.6 million euros in the previous year; the EBITDA margin was thus at 20.9 percent after 23.0 percent in the previous year.
The operating result (EBIT) was 21.0 after 23.9 million euros in the previous year. As a result of the negative interest owing to the changed market appraisal of interest rate swaps, the annual net income dropped disproportionately from 15.3 million euros to 11.3 million euros, while the cash flow for the period remained largely stable at 29.9 million euros (previous year: 30.8 million years). The cash flow from operating activities increased from 25.3 million euros to 30.4 million euros thanks to strict receivables and liquidity management. The cash stock amounted to 23.2 million euros; the net liabilities from the loan for the Graphisoft acquisition amounted to 26.1 million euros as of 12/31/2008.
The earnings per share were 1.08 euros, compared to 1.52 euros in the previous year. Due to the uncertain global economic situation Nemetschek AG wants to dispense with a dividend payment this year and consolidate the equity base instead. In 2008 the equity capital increased from 62.9 million euros to 67.9 million euros. The equity ratio increased accordingly from 34.4 to 40.6 percent.
'The group is now also prepared for what may turn out to be a longer slump, and the solid annual profit in 2008 contributed a considerable amount to that,' emphasized Ernst Homolka, member of the managing board and CEO, Nemetschek AG.
All business units are profitable
The software solutions of the four Nemetschek AG business units span the entire value-added process - from the planning and design of a building and its visualization to the actual construction process and the use of the building. All segments in the group were profitable in 2008. With revenues of 124.3 million euros (previous year: 121.2 million euros) the Design business unit - encompassing the software solutions of the investment management companies with a focus on architecture and civil engineering - was once again responsible for the lion's share of group revenues. The EBITDA in the Design segment amounted to 24.3 million euros after 26.2 million euros in the previous year.
The Build business unit encompasses the alphanumeric software products that accompany the actual construction process. With revenues of 12.9 million euros (previous year: 13.2 million euros) the EBITDA amounted to 3.5 million euros (4.1 million euros). The Manage business unit with its solutions for commercial and technical facility management achieved revenues of 4.2 million euros (3.6 million euros) and an EBITDA of 0.5 million euros (0.9 million euros). In the Multimedia segment (3D visualization and animation software) revenues increased from 8.1 to 9.0 million euros in 2008, the EBITDA amounted to 3.1 million euros after 2.4 million euros in the previous year.
Nemetschek to remain profitable in the future
Due to the uncertain global economic situation, the managing board of Nemetschek AG will again not make a concrete forecast for the time being, but expects fiscal 2009 to be a weak year overall. A tendency toward slower demand in important markets of the group is to be reckoned with. 'National infrastructure development and ecological construction programs could compensate for this in part, but will probably not take effect before the second half of the year,' explained Ernst Homolka, member of the managing board and CEO, Nemetschek AG. The expectations for the first six months are additionally muted due to the fact that the first two quarters of 2008 were particularly strong in terms of revenues.
Homolka emphasized that tiered cost reduction measures among the subsidiaries were planned in the event of a significant drop in revenues and that these could be implemented promptly. However, he added, the individual companies could be affected differently by the crisis - the wide variety of solutions and the breadth of the customer base would benefit the group in the crisis. The share contributed to overall revenues by long-term maintenance contracts, now at 39 percent, was a good starting basis, he added. 2009 also would see the launch of attractive product innovations on the market that could stimulate demand.
By continuing with its tight cost management policy, the group would be in a position to compensate for a potential drop in revenues of around 10 percent so that the EBITDA margin in 2009 would not drop below 15 percent, emphasized Homolka. 'We will at any rate remain a profitable company with a substantial cash flow - and that, too, is not a matter of course in these times.'