Munich, March 25, 2009 – The managing board and supervisory board of Nemetschek AG (ISIN 0006452907), Europe's largest vendor of software for architecture, civil engineering and the building industry, have decided to propose the following to the company's shareholders at the upcoming Annual General Meeting: the suspension of the dividend payment for fiscal 2008 and carrying of the balance sheet profit of 7.7 million euros to a new account.
As was announced with the provisional figures, Nemetschek managed to grow profitably even during the crisis year 2008, achieving an EBITDA margin in excess of 20 percent and succeeded in keeping the cash flow for the period stable at almost 30 million euros. But due to the uncertain global economic situation, the managing board and supervisory board prefer not to make a dividend payment, but to repay existing liabilities as quickly as possible and thus further consolidate the group's capital base. The plan is to make a special repayment of 5 Mio. euros towards the loan taken for the acquisition of Graphisoft.
Furthermore, the management is counting on tight cost management and focusing on maintaining a healthy cash flow. Within two years, Nemetschek has managed to reduce the liabilities for the loan for the Graphisoft acquisition by more than half. The debt now stands at 49.3 million euros. The equity ratio increased from 34.4 to 40.6 percent in 2008.
The complete annual report 2008 will be published on March 27, 2009 according to plan.
'After four years of ongoing dividend payments and a by all means acceptable course of business in 2008 the decision was not an easy one to make', emphasized Ernst Homolka, member of the managing board and CEO, Nemetschek AG. 'Our shareholders know that we let them participate directly in the success of the company in good years. But in the middle of a world economic crisis of unknown dimensions we are well advised to play it safe.' With an equity ratio of more than 40 percent and the management's clear focus on a healthy cash flow, the Nemetschek Group is equipped to deal with even a crisis of longer duration.