27.07.2018
Nemetschek SE DE0006452907
DGAP-News: Nemetschek SE: Strong growth dynamics coupled with continued high profitability in second quarter
DGAP-News: Nemetschek SE / Key word(s): Quarter Results/Half Year Results
Nemetschek SE: Strong growth dynamics coupled with continued high
profitability in second quarter
27.07.2018 / 07:00
The issuer is solely responsible for the content of this announcement.
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Corporate News - Quarterly Statement
Nemetschek Group: Strong growth dynamics coupled with continued high
profitability in second quarter
- Strong rise in Group revenue in Q2 by 21.2% currency-adjusted
- Recurring revenue continues to be a growth driver in Q2
(currency-adjusted: +23.6%)
- License growth subject to considerable acceleration (currency-adjusted:
+21.4%)
- High EBITDA margin of 27.3% coupled with continued high levels of
strategic investment
- Earnings per share in Q2 significantly above previous year at EUR 0.47
(+34.2%)
- Executive Board confirms outlook for the year 2018 as a whole
Munich, July 27, 2018 - At the Nemetschek Group (ISIN DE0006452907), the
second-largest provider of software solutions for the AEC industry
worldwide, business development in the second quarter has accelerated
considerably compared to the first three months of 2018, and this despite
ongoing negative currency exchange effects. The profitability of the Group
continued to remain high in Q2. At the same time, the Nemetschek Group
invested in strategic projects as announced in order to achieve double-digit
growth in the future as well.
Major indicators of the Group's success in the second quarter 2018
- Group revenue in Q2 2018 rose to EUR 113.8 million, a strong growth rate
of 16.5% compared to the previous year. Currency-adjusted growth was even
more significant at 21.2%.
- Recurring revenue from software service contracts and subscriptions
remained growth drivers in Q2, rising by 19.3% (currency-adjusted: +23.6%)
to EUR 53.6 million. The disproportionately large increase reflects the
strategic change underlying Nemetschek's business model, which entails
offering customers subscriptions for software as well as licenses. In the
second quarter of the year, revenue from subscriptions jumped
disproportionately in relation to the Group's growth, rising by 41.2%
(currency-adjusted: +49.4%) to EUR 4.7 million.
- Growth from license sales also rose considerably faster: revenue from
licenses increased to EUR 56.2 million in Q2, a plus of 16.1%
(currency-adjusted: +21.4%).
- The operating results for the Group (EBITDA) rose by 22.6%
(currency-adjusted: +22.0%) to EUR 31.1 million in Q2, which was
over-proportional compared to its revenues.
- Lying at 27.3% in Q2, the EBITDA margin continued to be at a high level,
actually slightly above the range the company was originally aiming for,
which was 25-27%. At the same time, Nemetschek invested in strategic
projects as it had planned so as to ensure it would be able to achieve
two-digit growth figures consistently in future.
- In Q2, the net income for the year (Group shares) rose over-proportionally
in relation to revenue, jumping by 34.2% to EUR 18.1 million and causing the
earnings per share to go up to EUR 0.47.
"Nemetschek increased its speed considerably in Q2, so we were able to keep
on ploughing ahead over the first six months and achieved double-digit
growth as well as being highly profitable," says Patrik Heider, spokesman
for the Executive Board and CFOO of the Nemetschek Group. "This superb
development is proof that we are doing the right thing by making large
investments in future growth and to ensure our dynamic. We are well on the
way to achieving our overall goals for 2018," he adds.
Segment Development
- Looking at the different business segments Nemetschek runs, the one that
saw the strongest increase in sales in Q2 - and, indeed, the first six
months of the year - was Build with 28.2% growth (currency-adjusted:
+37.1%). Its EBITDA clearly rose over-proportionally in relation to its
revenue, with the EBITDA margin reaching a high 28.4% in the second quarter
(see table). The positive development in its earnings is particularly due to
Bluebeam, its US brand. Bluebeam acquired Project Atlas, LLC in mid-June as
part of an asset deal. Their product, Project Atlas, is a software
application used in the construction industry and is essentially a digital
mapping module with which to visually organize and connect documents and
data kept at different locations. Using this method, anyone who is involved
in a building site project can create and search a digital overview of their
project and then make decisions on the spot whenever time is of the essence.
Furthermore, Nevaris acquired 100% of the shares in 123erfasst.de GmbH on
July 2, which is the market leader in mobile building-site management in
Germany. 123erfasst.de GmbH offers services such as app-based time recording
and building-site documentation, making it an indispensable part of digital
building sites.
- Revenue in the Design segment grew at a faster rate in Q2, reaching +12.1%
(currency-adjusted: +15.1%). Compared to the same period last year, the
EBITDA margin in second quarter dropped from 26.5% to 25.2% due to planned
investments in growth in this segment.
- The Manage segment continued to grow well in Q2, achieving a plus of 6.5%.
The EBITDA margin in Q2 was with 20.6% slightly below the last year (21.7%).
- The Media & Entertainment segment was able to grow faster in Q2, achieving
a plus of 7.5% (currency-adjusted: +12.0%). The EBITDA margin increased from
38.8% to 43.9% in the second quarter. Nemetschek SE increased its share of
Maxon from 70% to 100% at the beginning of July. Under the leadership of a
new CEO, the brand is expected to leverage its growth potential in the key
AEC markets even further now.
Outlook for the Group for 2018 is confirmed
Nemetschek has confirmed the goals it has set itself so far for the whole of
2018 and expects to achieve EUR 447-457 million* in sales for the entire
Group this year. Its EBITDA margin is forecast to lie in the range of
25%-27%, which it has done in the past and is expected to do in future, too.
At the same time, Nemetschek is additionally investing around EUR 10 million
in strategic projects.
* The revenue forecast is based on a planned exchange rate of 1.18 EUR/USD.
Key figures - quarterly overview (Q2)
In EUR million Q2 2018 Q2 2017 Δ in % Δ in %
(FX-adj)
Revenues 113.8 97.7 +16.5% +21.2%
- thereof software licenses 56.2 48.4 +16.1% +21.4%
- thereof recurring revenues 53.6 44.9 +19.3% +23.6%
EBITDA 31.1 25.3 +22.6% +22.0%
EBITDA margin 27.3% 25.9%
EBITA (normalized EBIT) 29.0 23.3 +24.2%
EBITA margin 25.5% 23.9%
Net income (Group shares) 18.1 13.5 +34.2%
Earnings per share in EUR 0.47 0.35 +34.2%
Net income (Group shares) before PPA 20.8 15.9 +31.1%
Earnings per share before PPA in EUR 0.54 0.41 +31.1%
Key figures - half-year overview (H1)
In EUR million 6M 2018 6M 2017 Δ in % Δ in %
(FX-adj)
Revenues 216.0 194.0 +11.4% +17.2%
- thereof software licenses 103.4 96.9 +6.7% +13.1%
- thereof recurring revenues 104.1 88.7 +17.4% +23.0%
EBITDA 59.0 51.7 +14.1% +17.6%
EBITDA margin 27.3% 26.6%
EBITA (normalized EBIT) 55.0 47.7 +15.2%
EBITA margin 25.4% 24.6%
Net income (Group shares) 34.5 27.7 +24.5%
Earnings per share in EUR 0.90 0.72 +24.5%
Net income (Group shares) before PPA 39.9 32.6 +22.5%
Earnings per share before PPA in EUR 1.04 0.85 +22.5%
Key figures by segment - quarterly overview (Q2)
In EUR million Q2 2018 Q2 2017 Δ in % Δ in %
(FX-adj)
Design
Revenues 67.4 60.2 +12.1% +15.1%
EBITDA 17.0 15.9 +6.8% +8.4%
EBITDA margin 25.2% 26.5%
Build
Revenues 37.4 29.2 +28.2% +37.1%
EBITDA 10.6 6.5 +63.2% +85.0%
EBITDA margin 28.4% 22.3%
Manage
Revenues 2.1 2.0 +6.5% +6.5%
EBITDA 0.4 0.4 +1.3% +1.0%
EBITDA margin 20.6% 21.7%
Media & Entertainment
Revenues 6.9 6.4 +7.5% +12.0%
EBITDA 3.0 2.5 +21.6% +25.6%
EBITDA margin 43.9% 38.8%
Key figures by segment - half-year overview (H1)
In EUR million 6M 2018 6M 2017 Δ in % Δ in %
(FX-adj)
Design
Revenues 130.2 120.9 +7.8% +11.6%
EBITDA 32.2 33.1 -2.8% -2.0%
EBITDA margin 24.7% 27.4%
Build
Revenues 69.0 57.1 +20.8% +32.0%
EBITDA 20.4 12.8 +59.5% +76.7%
EBITDA margin 29.6% 22.4%
Manage
Revenues 4.1 3.8 +9.2% +9.2%
EBITDA 0.8 0.7 +15.5% +15.4%
EBITDA margin 19.1% 18.1%
Media & Entertainment
Revenues 12.7 12.3 +3.3% +8.8%
EBITDA 5.6 5.1 +9.6% +13.8%
EBITDA margin 44.1% 41.6%
The entire 6-month report for 2018 is available for download on the
company's website under Investor Relations.
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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27.07.2018 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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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