NEMETSCHEK SE Earnings Call Q4- /FY-23
Nemetschek Group
March 21, 2024
Agenda
01 | Highlights FY-2023 and | 05 | |
Strategic Update | |||
02 | Update Subscription/SaaS Transition | ||
03 | Financial Results Q4- /FY-2023 | ||
04 | Guidance 2024 and | ||
Ambition 2025 |
Appendix
02 Nemetschek Group | Earnings Call Q4-/FY-23
01
Review Financial Year 2023
03 Nemetschek Group | Earnings Call Q4-/FY-23
Financial Year 2023: All Metrics Achieved or Exceeded
Outlook 2023
Revenues Growth: 6.0% - 8.0% (at cc1) Initially (4.0% - 6.0%)
ARR Growth: > 25%
EBITDA Margin: 28%-30%
Share Recurring Revenue:
> 75%
04 Nemetschek Group | Earnings Call Q4-/FY-23
Results 2023
Revenues Growth: +8.0% (at cc1) to EUR 851.6m
ARR Growth: +26.7% (at cc1)
EBITDA Margin: 30.3%
Share Recurring Revenue: 76.6%
1 Constant currency
Strategic Highlights FY 2023: Continued Progress in All Strategic Focus Areas
Business Model
• Subscription/SaaS transition continues to be highly successful and progress in line with plans
• Record share of recurring and subscription/SaaS revenues
Go-to-Market
- Improved e-commerce
- Increased focus on cross-selling and larger accounts
- Preparation for a stronger focus on Asia/Pacific
Business Enablement
• Enhanced operational excellence
• Harmonization of processes and structures and continued build-up to utilize future growth opportunities
Innovation & Technological Leadership
- Acceleration of Artificial Intelligence initiatives
- Graphisoft: AI visualizer
- Allplan: Strategic partnership with elevait
- dTwin market launch
- Various industry innovation awards (e.g. Architizer, The Hammers)
- Nemetschek Cloud Platform
Venture Investments
- Value generation by combining the competences of our start-up investments & brands:
05 Nemetschek Group | Earnings Call Q4-/FY-23
02
Update Subscription/SaaS
Transition
06 Nemetschek Group | Earnings Call Q4-/FY-23
Road to Recurring Business Model: Main Driver Subscription/SaaS
DESIGN | BUILD | MANAGE | MEDIA | |||||||||
• | Good progress | • | Strong | • | Well | • | First segment | |||||
• | Phased | acceleration | advanced | to start move | ||||||||
with successful | to | |||||||||||
approach | • | Structurally | ||||||||||
Bluebeam | subscription | |||||||||||
• | Multiple brands | higher share | ||||||||||
Status of | transition | • | Transition | |||||||||
of service & | ||||||||||||
in different | ||||||||||||
Subscription | • | Majority in | hardware | already | ||||||||
stages of | ||||||||||||
Transition | Subscription/ | revenues | successfully | |||||||||
Subscription/ | ||||||||||||
SaaS by end of | completed | |||||||||||
SaaS transition | ||||||||||||
FY-24 | ||||||||||||
Recurring
Revenue> 70%> 75%> 65%> 90%
Share
Revenue Split 2018-2025 | |
Illustrative | |
Future Path |
100% | 4% | 5% | 5% | 4% | 4% | 4% |
30% | 19% | |||||
35% | 35% | |||||
47% | 41% | |||||
42% | ||||||
42% | 41% | |||||
45% | ||||||
45% | ||||||
44% | 35% | |||||
19% | 25% | |||||
5% | 9% | 15% | ||||
0% | ||||||
FY-18FY-19 | FY-20 | FY-21FY-22FY-23FY-24FY-25 | ||||
Other | License | Maintenance | Subscription/SaaS |
07 Nemetschek Group | Earnings Call Q4-/FY-23
03
Financial Results Q4- /FY-23
08 Nemetschek Group | Earnings Call Q4-/FY-23
Q4-23: Strong Finish of the Year 2023
ARR | Revenues | EBITDA | EPS | |||
EURm | EURm | EURm | EUR | |||
+23.5% | |
+26.7% cc1 | |
581.7 | 718.6 |
Q4-22 | Q4-23 |
+8.2%
+10.9% cc1
203.0 | 219.6 |
Q4-22 | Q4-23 |
+24.3%
+27.1% cc1
55.7 | 69.2 |
Q4-22 | Q4-23 |
+38.6%
0.290.41
Q4-22Q4-23
• Strong increase in ARR underpins our good future growth trajectory for the next 12 months
• Subscription/SaaS revenues continue to be the main growth driver: +61.4% (+66.1% cc1)
1 Constant currency
09 Nemetschek Group | Earnings Call Q4-/FY-23
- Stable demand situation in AEC markets compared to last quarters
- Growth supported by re- acceleration of growth at Bluebeam
- Q4-23:EBITDA margin: 31.5%
- Strong margin while transitioning to subscription driven by good operating leverage & cost discipline
- EPS before PPA amortization: 0.48 EUR (+34% y/y)
Key Financial Highlights FY-23: Continued Growth in a Challenging Environment
Revenues: | EBITDA: | Net Cash Position: | ||||
+6.2% (FX adj.: +8.0%) to | +0.3% (FX adj.: +4.2%) to | EUR 261.2m | ||||
EUR 851.6m | EUR 257.7m | |||||
Recurring Revenues: | EBITDA Margin: | Equity Ratio: |
+22.5% (FX adj.: +24.7%) to | 30.3% | 61.4% |
EUR 652.7m |
Subscription/SaaS Revenues: | Earnings per Share: | Dividend Proposal: |
+47.8% (FX adj.: +51.1%) to | EUR 1.40 (-0.4%) | EUR 0.48 (+6.7%) |
EUR 301.8m |
10 Nemetschek Group | Earnings Call Q4-/FY-23
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Nemetschek SE published this content on 20 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2024 06:04:06 UTC.
