31.03.2017
Nemetschek SE DE0006452907
DGAP-News: Nemetschek SE anticipates further strong growth in revenue and earnings following record year 2016
DGAP-News: Nemetschek SE / Key word(s): Final Results
Nemetschek SE anticipates further strong growth in revenue and earnings
following record year 2016
31.03.2017 / 07:00
The issuer is solely responsible for the content of this announcement.
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Press release
Nemetschek Group anticipates further strong growth in revenue and earnings
following record year 2016
- Group revenue rises by 18.2% to EUR 337.3 million in 2016
- EBITDA grows clearly and over-proportionally to revenue by 26.6% to EUR
88.0 million
- Earnings per share rise considerably to EUR 1.22 (+30.7%)
- Dividend is to be increased to EUR 0.65 per share
- Guidance for 2017: Double-digit growth rates planned for revenue and
EBITDA
Munich, March 31, 2017 - Following a record year in 2016, indicators are
pointing to continued strong growth for the Nemetschek Group (ISIN
DE0006452907) in 2017. The company, one of the world's leading software
providers for the AEC (Architecture, Engineering, Construction) industry,
again anticipates clear double-digit growth rates for Group revenue and
Group EBITDA for the current financial year.
In the 2016 financial year, Nemetschek continued on its dynamic growth
course and was able to increase earnings over-proportionally to revenue.
"Throughout the entire course of the year, we have achieved double-digit
growth rates while strengthening our global market position," said Patrik
Heider, Spokesman of the Executive Board and CFOO of the Nemetschek Group.
"In addition to these operating successes, we were able to integrate two
additional brands - Design Data and dRofus - in our portfolio and thus
broaden our base for future growth even further."
Key figures of the Group's success in 2016
- Group revenue rose to an all-time high of EUR 337.3 million, a growth of
18.2% compared to the previous year (EUR 285.3 million). Purely organic
growth was a high 15.9%.
- In terms of geography, the increase in revenue had a broad base:
Non-domestic revenues climbed by 21.7% to EUR 230.5 million (previous year:
EUR 189.5 million). The share of non-domestic revenue thus continued to grow
according to plan, rising to 68.4% (previous year: 66.4%). Germany, too,
continued to develop positively with double-digit revenue growth of 11.4%,
rising to EUR 106.7 million (previous year: EUR 95.8 million).
- The two pillars of revenue "software licenses" and "recurring revenue from
software service contracts and rental models" grew at an almost identical
pace. Recurring revenue rose by 19.7% to EUR 146.5 million (previous year:
EUR 122.4 million), and now constitutes more than 43% of Group revenue.
Software licenses also increased considerably by 16.9% to EUR 175.8 million
(previous year: EUR 150.4 million).
- Operating earnings before interest, tax and depreciation and amortization
(EBITDA) grew over-proportionally to Group revenue by 26.6%, rising to EUR
88.0 million (previous year: EUR 69.5 million). The EBITDA margin improved
over the course of the 2016 financial year, reaching 26.1%, following 24.4%
in the previous year. In addition to strong growth, a one-off gain in the
amount of EUR 1.9 million contributed to the increase in earnings. On the
other hand, a negative tax effect in the amount of EUR 1.4 million as well
as success-related increases in personnel costs had an impact. Even after
adjustment for the positive one-off effect, Nemetschek was able to increase
the EBITDA more strongly than revenue to EUR 86.1 million and improve the
EBITDA margin to 25.5%.
- With a plus of 30.7%, the net income for the year (Group shares) rose to
EUR 46.9 million (previous year: EUR 35.9 million), which resulted in an
increase in earnings per share to EUR 1.22 (previous year: EUR 0.93 per
share).
- The operating cash flow increased by 22.4% to EUR 79.7 million (previous
year: EUR 65.1 million). The Group equity ratio remained high at 44.4%
(previous year: 45.0%)
- As a result of the positive business development, a dividend in the amount
of EUR 0.65 per share will be proposed to the annual general meeting on June
1, 2017. This would be an increase of 30% compared to the previous year (EUR
0.50 per share).
Development of the segments
All four segments contributed to the favorable development of business in
2016.
- In the Design segment, revenue rose by 11.1% to EUR 220.9 million. The
Graphisoft brand achieved the strongest growth, followed by Data Design
System and Allplan. EBITDA increased over-proportionally to revenue by 27.9%
to EUR 63.2 million. The EBITDA margin improved from 24.9% to 28.6%.
- The Build segment achieved a growth in revenue of 45.6%, rising to EUR
87.5 million. The Solibri brand, acquired at the end of 2015, is included
for the first time for a full 12 months with a revenue contribution of EUR
4.5 million, and Design Data, acquired on August 1, 2016, contributed
revenue amounting to EUR 4.7 million over a five-month period. Organic
growth, driven in particular by US brand Bluebeam Software, reached a very
high level with around 31%. EBITDA increased by 22.7% to EUR 12.8 million,
with growth remaining below revenue growth as a result of major investments.
The EBITDA margin reached 14.7% (previous year: 17.4%).
- In the Manage segment, revenue rose by 12.0% to EUR 7.1 million. EBITDA
was able to grow over-proportionally to revenue by 19.4%, rising to EUR 1.6
million. Accordingly, the EBITDA margin increased to 22.7% (previous year:
21.3%).
- The Media & Entertainment segment increased revenue by 8.7% to EUR 21.8
million. EBITDA rose slightly from EUR 8.2 million to EUR 8.4 million,
resulting in an EBITDA margin of 38.6% (previous year: 41.0%). Investments
in product innovations are reflected in the earnings.
Optimistic outlook for 2017
In 2017, the Nemetschek Group will continue to pursue its corporate policy
which aims for sustained growth. This growth is coupled by strategic
investments, e.g., in further internationalization and cross-brand projects.
Without accounting for currency influences and further possible
acquisitions, the Nemetschek Group plans to generate Group revenue in the
range of EUR 395 million to EUR 401 million (+17% to +19%) in the 2017
financial year. Purely organic growth (excluding the companies dRofus,
consolidated since the beginning of the year, and Design Data, included for
the first time for the full 12 months) is anticipated to be between 13% and
15%.
Operating earnings are also expected to grow considerably. The executive
board anticipates a 2017 Group EBITDA of between EUR 100 million and EUR 103
million. This would be an increase of 16% to 20% compared to the adjusted
EBITDA of the previous year (EUR 86.1 million). Despite strategic
investments and the lower EBITDA margins of the strongly expanding brands,
this will allow Nemetschek to maintain the already high margin from 2016 in
order to secure sustainable growth.
Nemetschek Group: Overview of 2016 key figures
In EUR million Q4 Q4 Δ 12M 12M Δ
2016 2015 in 2016 2015 in
% %
Revenue 91.9 79.3 +15- 337.3 285.3 +18-
.8% .2%
- thereof software licenses 46.8 43.7 +7.- 175.8 150.4 +16-
1% .9%
- thereof recurring revenues 40.5 32.1 +26- 146.5 122.4 +19-
.2% .7%
EBITDA 21.4 20.1 +6.- 88.0 69.5 +26-
5% .6%
Margin 23.3- 25.3- 26.1% 24.4%
% %
EBITDA (w/o one-time effect)* 21.4 20.1 +6.- 86.1 69.5 +23-
5% .9%
Margin (w/o one-time effect)* 23.3- 25.3- 25.5% 24.4%
% %
EBITA (normalized EBIT) 19.4 18.3 +6.- 80.7 62.8 +28-
1% .5%
Margin 21.1- 23.1- 23.9% 22.0%
% %
Net income (Group shares) 10.7 11.7 -8.- 46.9 35.9 +30-
9% .7%
Earnings per share in euros 0.28 0.30 -8.- 1.22 0.93 +30-
9% .7%
Net income (Group shares) before 12.9 13.2 -2.- 55.1 42.8 +28-
depreciation from purchase price 7% .9%
allocation
Earnings per share before 0.33 0.34 -2.- 1.43 1.11 +28-
depreciation from purchase price 7% .9%
allocation
*adjusted for the positive one-off effect arising in Q2 2016 in the amount
of EUR 1.9 million
Key figures by segment
In EUR million Q4 Q4 Δ in 12M 12M Δ in
2016 2015 % 2016 2015 %
Design
Revenue 58.6 55.4 +5.8% 220.9 198.8 +11.1-
%
EBITDA 17.4 14.8 +18.0- 63.2 49.5 +27.9-
% %
Margin 29.8% 26.7% 28.6% 24.9%
Build
Revenue 25.5 16.6 +53.6- 87.5 60.1 +45.6-
% %
EBITDA 1.3 2.4 -47.1- 12.8 10.4 +22.7-
% %
Margin 5.0% 14.4% 14.7% 17.4%
Manage
Revenue 2.1 2.2 -2.2% 7.1 6.3 +12.0-
%
EBITDA 0.6 0.7 -8.5% 1.6 1.3 +19.4-
%
Margin 30.7% 32.8% 22.7% 21.3%
Media &
Entertainment
Revenue 5.7 5.2 +9.7% 21.8 20.1 +8.7%
EBITDA 2.0 2.2 -7.5% 8.4 8.2 +2.2%
Margin 35.6% 42.2% 38.6% 41.0%
For further information on the company, please contact:
Nemetschek Group
Stefanie Zimmermann
Investor Relations
+49 89 92793 1229
[email protected]
About the Nemetschek Group
The Nemetschek Group, Munich, is a globally leading software provider for
the AEC (Architecture, Engineering, Construction) industry. Meanwhile, with
its 14 brands, the Nemetschek Group now serves around 2.3 million users in
142 countries from 60 locations worldwide. Founded in 1963 by Professor
Georg Nemetschek, the company focuses on innovations such as Open Building
Information Modeling (Open BIM) for the AEC market of tomorrow. Publicly
listed since 1999 and quoted on the TecDAX, the company achieved revenue in
the amount of EUR 337.3 million and an EBITDA of EUR 88.0 million in 2016.
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31.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Nemetschek SE
Konrad-Zuse-Platz 1
81829 München
Germany
Phone: +49 (0)89 92 793-0
Fax: +49 (0)89 927 93-5200
E-mail: [email protected]
Internet: www.nemetschek.com
ISIN: DE0006452907
WKN: 645290
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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560317 31.03.2017
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