29.03.2018
Nemetschek SE DE0006452907
DGAP-News: Nemetschek SE: Outstanding 2017 financial year - Strong growth with high profitability in 2018 - 2020 growth target: > EUR 600 million in revenue
DGAP-News: Nemetschek SE / Key word(s): Final Results
Nemetschek SE: Outstanding 2017 financial year - Strong growth with high
profitability in 2018 - 2020 growth target: > EUR 600 million in revenue
29.03.2018 / 07:00
The issuer is solely responsible for the content of this announcement.
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Corporate News Nemetschek Group
Outstanding 2017 financial year -
Strong growth with high profitability in 2018 -
2020 growth target: > EUR 600 million in revenue
- Software provider announces mid-term growth target for the first time
- Outlook for 2018: Double-digit revenue growth envisaged, EBITDA margin
remains in the corridor of 25% to 27% despite major investments
- 2017: Group revenue rises by 17.3% to EUR 395.6 million
- Over-proportional EBITDA growth of +22.7% to EUR 108.0 million
- Earnings per share significantly above previous year at EUR 1.94 (+59.1%)
- 9th consecutive dividend increase: Dividend payout forecast to rise to EUR
0.75 per share
Munich, March 29, 2018 - Following an extremely successful 2017 with new
records in revenue and operating result, the Nemetschek Group (ISIN
DE0006452907), the world's second largest software provider for the AEC
industry, announces a mid-term growth target for the first time: For 2020, a
rise in revenue volume of more than EUR 600 million is planned.
The company anticipates revenue growth in the clear, double-digit percentage
range for the current year of 2018. Despite future-oriented investments in
the amount of EUR 10 million, the EBITDA margin is expected to remain as
planned in the already achieved corridor of 25% and 27% in future.
Today the Nemetschek Group is publishing the 2017 annual financial
statements, the key data of which was already announced on February 5, 2018.
Major indicators of the Group's success in 2017
- Group revenue rose to an all-time high of EUR 395.6 million, a growth of
17.3% compared to the previous year (currency-adjusted: 18.6%). Organic
growth also rose considerably by 13.8% (currency-adjusted: +15.0%).
- Recurring revenues from software service contracts and subscriptions,
which rose by 25.5% to EUR 183.9 million, were growth drivers, already
making up 46.5% of total revenues.
- Continued internationalization is another growth engine: Revenues
generated abroad rose by 19.9% to EUR 276.4 million. Especially in the USA,
the trend-setting future market for new technologies, Nemetschek increased
the revenues in 2017 with an above average growth of around 25%. The average
growth in the past five years of around 45% is even stronger. The United
States is meanwhile the largest single market in the Nemetschek portfolio,
with a 30% share of total revenue.
- On a segment basis, the Build segment experienced the strongest revenue
growth with 31.0% (currency-adjusted: 33.1%), increasing to EUR 114.6
million. In particular, as a result of the continued strong development of
Bluebeam and Solibri, organic growth was considerably higher than the Group
average at 25.1%. It was possible to more than double EBITDA, causing the
EBITDA margin to increase to 23.2%, up from the previous year's 14.7%.
In the Design segment, revenue rose by 12.8% to EUR 249.2 million
(currency-adjusted: 13.8%). The brand with the strongest growth in this
segment was Graphisoft. EBITDA rose by 11.1% percent to EUR 70.3 million. In
the Manage segment, revenue rose by 13.8% to EUR 8.1 million. EBITDA was
able to grow over-proportionally to revenue by 17.2%, rising to EUR 1.9
million. The Media & Entertainment segment increased revenue by 8.9% to EUR
23.8 million (currency-adjusted: 10.9%). The EBITDA margin rose slightly
compared to the previous year to 38.8%.
- Consolidated operating earnings before interest, taxes, depreciation and
amortization (EBITDA) increased over-proportionally compared to revenue by
22.7%, rising to EUR 108.0 million, which corresponds to a high EBITDA
margin of 27.3%. At the same time, the operating earnings development in the
final quarter was extraordinarily high, also as a result of reporting date
effects in the case of current investments.
- As a result of strong operating performance and positive non-operating
special effects, the net income for the year (Group shares) rose
considerably by 59.1% to EUR 74.7 million, causing earnings per share to
increase to EUR 1.94. Adjusted for the release of an earn-out liability (EUR
7.6 million) in the financial results, as well as positive tax effects (EUR
4.6 million) as a result of the US tax reform and the release of deferred
tax provisions, the net income for the year is calculated at EUR 62.4
million, which corresponds to a rise of 33.0% compared to the previous year.
The adjusted EPS amounts to EUR 1.62.
- The operating cash flow increased significantly by 22.3% to EUR 97.4
million. The cash conversion at 90.2% remained at a high level. The Group
equity ratio was above the previous year's level (44.4%) at 49.5%.
9th consecutive dividend increase
As a result of the positive business development, a dividend in the amount
of EUR 0.75 per share will be proposed to the annual general meeting on May
30, 2018 (previous year: EUR 0.65 per share). This would be an increase of
some 15%. The proposed total dividends to be distributed amount to EUR 28.9
million.
"2017 was an outstanding year for Nemetschek. We have once again proven our
operational strength and our globally leading role in the AEC industry,"
summarizes Patrik Heider, Spokesman of the Executive Board and CFOO of the
Nemetschek Group. "We will keep on our course, combining organic growth with
the high-potential acquisition of new brands. The key to our success remains
our consistent alignment with customer benefit and our uncompromising
quality standards. We want to improve digital workflows in the building
industry and make them more efficient for the success of our meanwhile
approximately 2.7 million customers worldwide. We see best growth
opportunities worldwide for our Group in our market of double-digit growth,
amounting to more than EUR 4 billion. This is reflected not least of all in
our revenue target for 2020."
Group outlook for 2018 and growth targets for 2020
From today's perspective, on the basis of the current portfolio, the
executive board anticipates Group revenue in the range of EUR 447 million to
EUR 457 million* for 2018. Investments in the amount of EUR 10 million in
strategic projects already underway at Group and brand levels are to secure
this double-digit percentage growth for the future. Despite major
investments, as achieved in the past, Group EBITDA is forecast to remain in
the planned corridor of 25% to 27%. For the 2020 financial year, Nemetschek
aims to generate Group revenue of more than EUR 600 million.
Overview of key figures
In EUR million Q4 Q4 Δ in % 12M 12M Δ in %
2017 2016 (FX-adj) 2017 2016 (FX-adj)
Revenues 105.7 91.9 +15.1% 395.6 337.3 +17.3%
(+19.4%) (+18.6%)
- Thereof softwware 52.2 46.8 +11.6% 195.0 175.8 +10.9%
licenses
- Thereof recurring 49.1 40.5 +21.1% 183.9 146.5 +25.5%
revenues
EBITDA 31.5 21.4 +47.2% 108.0 88.0 +22.7%
Margin 29.8% 23.3- 27.3% 26.1%
%
EBITA (normalized 29.4 19.4 +51.3% 99.9 80.7 +23.8%
EBIT)
Margin 27.8% 21.1- 25.3% 23.9%
%
Net income (Group 31.8 10.7 +198.5% 74.7 46.9 +59.1%
shares)
Earnings per share in 0.83 0.28 +198.5% 1.94 1.22 +59.1%
EUR
Adjusted net income** 19.7 10.7 +84.5% 62.4 46.9 +33.0%
Adjusted earnings per 0.51 0.28 +84.5% 1.62 1.22 +33.0%
share in EUR**
Net income (Group 35.2 12.9 +173.7% 85.2 55.1 +54.6%
shares) before PPA
depreciation
Earnings per share 0.92 0.33 +173.7% 2.21 1.43 +54.6%
before PPA
depreciation
*The revenue forecast is based on a planned exchange rate of 1.18 EUR/USD
** Adjusted for positive special effects of 12.2 mEUR in total (thereof: 7.6
mEUR in financial result and 4.6 mEUR in taxes because of US tax reform and
release of deferred tax provisions)
Key figures by segment
In Mio. Euro Q4 Q4 Δ in % 12M 12M Δ in %
2017 2016 (FX-adj) 2017 2016 (FX-adj)
Design
Revenues 67.3 58.6 +14.9% 249.2 220.9 +12.8%
(+18.2%) (+13.8%)
EBITDA 19.8 17.4 +13.2% 70.3 63.2 +11.1%
Margin 29.4% 29.8% 28.2% 28.6%
Build
Revenues 30.0 25.5 +17.5% 114.6 87.5 +31.0%
(+24.9%) (+33.1%)
EBITDA 8.3 1.3 26.6 12.8 +107.6%
Margin 27.6% 5.0% 23.2% 14.7%
Manage
Revenues 2.2 2.1 +4.8% 8.1 7.1 +13.8%
EBITDA 0.7 0.6 +9.7% 1.9 1.6 +17.2%
Margin 32.1% 30.7% 23.4% 22.7%
Media &
Entertainment
Revenues 6.3 5.7 +9.7% 23.8 21.8 +8.9%
(+14.2%) (+10.9%)
EBITDA 2.8 2.0 +36.4% 9.2 8.4 +9.5%
Margin 44.3% 35.6% 38.8% 38.6%
The complete 2017 annual report is available for download in the Investor
Relations section of the company website.
For further information on the company, please contact
Nemetschek Group
Stefanie Zimmermann
Investor Relations
+49 89 540459 250
[email protected]
About the Nemetschek Group
The Nemetschek Group is driving the digitalization of the building industry.
With our software, architects, engineers, construction companies, and
facility managers can plan ahead, seamlessly share information and work
together more closely. Building and infrastructure projects can thus be
conducted more efficiently and sustainably. The unique holding structure
provides our 15 strong brands with the flexibility to innovate in an
entrepreneurial way while closely engaging with their 2.7 million customers
worldwide. Founded by Prof. Georg Nemetschek in 1963, the company today
employs more than 2,000 experts. Publicly listed since 1999 and quoted on
the TecDAX, the company generated revenues of EUR 395.6 million and an
EBITDA of EUR 108.0 million in 2017.
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29.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a
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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 540459-0
Fax: +49 (0)89 540459-444
E-mail: [email protected]
Internet: www.nemetschek.com
ISIN: DE0006452907
WKN: 645290
Indices: TecDAX
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard);
Regulated Unofficial Market in Dusseldorf, Hamburg,
Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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