• Revenue grows by 24.0% to EUR 96.3 million in the first quarter of 2017
  • EBITDA increases over-proportionally compared to revenue, reaching EUR 26.3 million (+25.5%)
  • EBITDA margin improves further to 27.4%
  • Optimistic forecast affirmed for the entire year 2017

Munich, April 28, 2017 - After a successful year 2016, the Nemetschek Group (ISIN DE 0006452907), a leading provider of software solutions for the AEC (Architecture, Engineering, Construction) industry, has made an extremely dynamic start in the new financial year 2017. It was even possible to accelerate the growth course and again increase profitability compared to the same period in the previous year.

"We got the year off to an outstanding start with a smooth continuation of the strong development of the previous year. Our strategic initiatives such as product innovations and stronger internationalization are paying off. We are growing organically in the two-digit range and are additionally strengthening this growth with our acquisitions," comments Patrik Heider, Spokesman and CFOO of the Nemetschek Group.

Major indicators of the Group's success
  • Group revenue in the first quarter rose to EUR 96.3 million, a growth of 24.0% compared to the same quarter in the previous year (EUR 77.7 million). Organic growth reached a high 18.3%.
  • The Nemetschek Group further reinforced its international alignment. In the first three months of 2017, revenue generated abroad rose by 26.5% to EUR 67.5 million (previous year's period: EUR 53.3 million). Growth regions were primarily North America, Asia and Scandinavia. Thus the non-domestic proportion of Group revenue increased to 70.1% (Q1 2016: 68.7%). In Germany, it was possible to increase revenue by 18.5% to EUR 28.8 million.
  • Recurring revenue was subject to a strong rise of 31.5%. It increased to EUR 43.8 million (Q1 2016: EUR 33.3 million) and thus made up approximately 45.4% of total revenue. Revenues from software licenses rose by 20.4% to EUR 48.5 million.
  • Earnings before interest, taxes, depreciation and amortization (EBITDA) grew over-proportionally compared to the plus in revenue by 25.5%, rising to EUR 26.3 million (Q1 2016: EUR 21.0 million). Consequently, it was possible to improve the EBITDA margin, which rose to 27.4% from 27.0% in the previous year's period.
  • Net income for the year (Group shares) rose by 28.6% to EUR 14.2 million (previous year's period: EUR 11.0 million). Earnings per share increased correspondingly from EUR 0.29 to EUR 0.37.
Accounting ratios show financial strengths and soundness of the Group

The Group's net asset structure and financial position remained extremely sound as of the end of the first quarter. As of March 31, 2017, the equity ratio rose to 45.2% (December 31, 2016: 44.4%). Despite the acquisition of dRofus, cash and cash equivalents at the beginning of the year were a high EUR 101.4 million (December 31, 2016: EUR 112.5 million); net liquidity amounted to EUR 11.7 million (December 31, 2016: EUR 16.3 million).

Development of the segments

All four segments experienced considerable organic growth in the two-digit range in the starting quarter.

In the Design segment, revenue rose in Q1 by 18.0% to EUR 60.7 million (previous year's period: EUR 51.4 million). Purely organic growth was about 15.4%, without considering dRofus, which was acquired at the beginning of the year (revenue amount EUR 1.3 million in Q1). EBITDA increased over-proportionally compared to revenue growth by 27.7% to EUR 17.2 million (Q1 2016: EUR 13.5 million). The EBITDA margin rose accordingly from 26.1% to 28.3%. The growth is attributable to almost all regions and brands.

Supported by the acquisition of Design Data (revenue amount of EUR 3.1 million in Q1), the Build segment expanded very strongly. Segment revenue increased by 42.9% to EUR 27.9 million (previous year's period: EUR 19.5 million). Revenue rose organically by 26.9% - especially as a result of the brand Bluebeam Software acquired in 2014 and Solibri acquired at the end of 2015. In spite of investments in future growth, EBITDA increased by 26.0% from EUR 5.0 million to EUR 6.3 million, resulting in an EBITDA margin of 22.6% (Q1 2016: 25.6%).

In the Manage segment, it was possible to continue with the favorable growth course of the previous year. With a plus of 20.3%, revenue rose to EUR 1.8 million (previous year: EUR 1.5 million). EBITDA rose by 24.6% to EUR 0.3 million, which corresponds to an EBITDA margin of 14.2% (previous year's period: 13.7%).

In the Media & Entertainment segment, it was possible to increase revenue by 13.2% to EUR 5.9 million (previous year's period: EUR 5.2 million). EBITDA rose by 11.9% to EUR 2.6 million, which corresponds to an EBITDA margin of 44.6% (Q1 2016: 45.1%).

Outlook for the whole of 2017 affirmed

Following a very favorable start of the year, the executive board affirms the previous targets for the whole of 2017. It anticipates Group revenue ranging from EUR 395 million to EUR 401 million (+17% to 19%). Purely organic growth is expected to be between 13% and 15%. The forecast for Group EBITDA remains unchanged at between EUR 100 million and EUR 103 million. The objective is to maintain the high EBITDA level of 2016 despite strategic investment in future growth and EBITDA margins which are still below average for the strongly expanding brands acquired.

Overview of key figures
In EUR million Q1 2017 Q1 2016 Δ in %
Revenue 96.3 77.7 +24.0%
- thereof software licenses

48.5

40.3 +20.4%
- thereof recurring revenues 43.8 33.3 +31.5%
EBITDA 26.3 21.0 +25.5%
Margin 27.4% 27.0%
EBITA (normalized EBIT) 24.4 19.3 +26.5%
Margin 25.3% 24.8%
Net income (Group shares) 14.2 11.0 +28.6%
Earnings per share in euros 0.37 0.29 +28.6%
Net income (Group shares) before depreciation and amortization from purchase price allocation 16.7 13.0 +28.3%
Earnings per share before depreciation and amortization from purchase price allocation 0.43 0.34 +28.3%
Key figures by segment
In EUR million Q1 2017 Q1 2016 Δ in %
Design
Revenue 60.7 51.4 +18.0%
EBITDA 17.2 13.5 +27.7%
Margin 28.3% 26.1%
Build
Revenue 27.9 19.5 +42.9%
EBITDA 6.3 5.0 +26.0%
Margin 22.6% 25.6%
Manage
Revenue 1.8 1.5 +20.3%
EBITDA 0.3 0.2 +24.6%
Margin 14.2% 13.7%
Media & Entertainment
Revenue 5.9 5.2 +13.2%
EBITDA 2.6 2.3 +11.9%
Margin 44.6% 45.1%

The complete three-month report for 2017 is available for download in the Investor Relations section of the company website.

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.

Press Contact

Nemetschek Group
Stefanie Zimmermann
Investor Relations
+49 89 92793 1229
szimmermann@nemetschek.com

Nemetschek SE published this content on 28 April 2017 and is solely responsible for the information contained herein.
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