DGAP-News: Nemetschek SE / Key word(s): 9-month figures/Quarterly / Interim
Statement
Nemetschek Group maintains high growth pace in the third quarter and
considerably increases revenue and profitability
28.10.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
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Corporate News
Nemetschek Group maintains high growth pace in the third quarter and
considerably increases revenue and profitability
- Nine-month revenue grows by 19.2% to EUR 245.4 million
- EBITDA (adjusted for the positive one-time effect) increases
considerably and over-proportionally compared to revenue, reaching EUR
64.7 million (+30.9%)
- Strong rise (+44.4%) in adjusted earnings per share to EUR 0.91
- Increased forecast for revenue and EBITDA confirmed
Munich, October 28, 2016 - The Nemetschek Group (DE ISIN 0006452907), an
internationally leading software provider serving the AEC (Architecture,
Engineering, Construction) industry, continued on its course of dynamic
development in the third quarter of 2016 and considerably increased its
profitability compared to the same period in the previous year.
Major indicators of the Group's success
- In the third quarter, Group revenues rose by 18.5% to EUR 83.9 million
(previous year: EUR 70.7 million). Organic growth amounted to 14.9%.
Revenue for the nine-month period was EUR 245.4 million, which is 19.2%
higher than the corresponding value from the previous year (EUR 205.9
million), whereby organic growth reached 17.1%.
- The Nemetschek Group further reinforced its international alignment. In
the first nine months of this year, revenue abroad rose by 20.7% to EUR
166.0 million (previous year's period: EUR 137.6 million). Growth
regions were primarily North America, Asia and Scandinavia.
- With a plus of 20.9% and rising to EUR 129.0 million (nine months of
2015: EUR 106.7 million), revenue from the sale of software licenses
constituted a further growth driver. Recurring revenues from
maintenance contracts and rental models however also increased
considerably in the two-digit range by 16.1%, reaching EUR 104.3
million (previous year's period: EUR 89.9 million). The share of
recurring revenues compared to total revenues was 42.5%.
- EBITDA rose over-proportionally compared to revenue. It increased in
the first nine months by 34.8% to EUR 66.6 million (previous year's
period: EUR 49.4 million), which corresponds to an operating margin of
27.1% (previous year's period: 24.0%). EBITDA adjusted for the one-time
effect occurring in Q2 and amounting to EUR 1.9 million rose as of
September 30, 2016 by 30.9% to EUR 64.7 million, which corresponds to
an adjusted EBITDA margin of 26.4%.
- The net income (Group shares) increased by 49.9% to EUR 36.3 million
(nine months of 2015: EUR 24.2 million). The earnings per share rose
from EUR 0.63 to EUR 0.94. Adjusted for the one-time effect, the
Group's net income for the year is calculated at EUR 34.9 million
(+44.4%) with adjusted earnings per share of EUR 0.91.
"The figures from the first nine months clearly indicate that Nemetschek is
in optimum shape. We are well on the way to another record year. The
business development confirms our strategic initiatives such as product
innovations and strengthened internationalization. We are growing
organically in the two-digit range and have accelerated this growth as a
result of our acquisitions," says Patrik Heider, Spokesman and CFOO of the
Nemetschek Group.
Healthy balance sheet and high liquid reserves
The Group's net asset structure and financial position continue to be
extremely sound. The Nemetschek Group demonstrated an equity ratio of 41.4%
as of September 30, 2016 (December 31, 2015: 44.0%). Cash and cash
equivalents increased to EUR 103.0 million (December 31, 2015: EUR 84.0
million).
Development of the segments in the first nine months
The Design segment continued on its growth course. Revenue rose by 13.2% to
EUR 162.3 million (previous year's period: EUR 143.4 million). EBITDA
increased over-proportionally compared to revenue by 32.1%, reaching EUR
45.8 million (previous year's period in 2015: EUR 34.7 million). The EBITDA
margin rose accordingly from 24.2% to a very high 28.2%. This growth arose
from almost all regions and brands.
The strongest growth was achieved in the Build segment. Revenue increased
by 42.6% to EUR 62.0 million (previous year's period in 2015: EUR 43.5
million). This is supplemented by inorganic effects totaling EUR 4.6
million as a result of the acquisition of the Finish company Solibri (as of
January 1, 2016) and the acquisition of Design Data (as of August 1, 2016),
located in the US. Organic growth amounted to 32.6%. Likewise, EBITDA
increased considerably by 43.5% to EUR 11.5 million (previous year's
period: EUR 8.0 million), which caused the EBITDA margin to improve from
18.5% to 18.6%.
In the Manage segment, it was possible to considerably increase revenue to
EUR 5.0 million, a plus of 19.4% compared to the previous year's period
(EUR 4.2 million). EBITDA increased by 50.2% to EUR 1.0 million (previous
year's period: EUR 0.6 million), which corresponds to a considerably higher
EBITDA margin amounting to 19.3% (previous year's period: 15.4%).
The Media & Entertainment segment showed solid growth, rising from 8.3% to
EUR 16.1 million (previous year's period: EUR 14.9 million). Despite
investments, EBITDA increased by 5.8% to EUR 6.4 million (previous year's
period: EUR 6.0 million). The EBITDA margin fell slightly below that of the
previous year (40.6%) at 39.7%.
Outlook for the whole of 2016
The executive board confirms the forecast for revenue and EBITDA for the
current 2016 financial year, a forecast which was already increased at the
beginning of October. The new forecast anticipates revenue in the range of
EUR 338 million to EUR 341 million (previously: EUR 319 million to EUR 325
million). This results in a planned growth in revenue compared to the
previous year (EUR 285.3 million) of +18% to +20% (previously: +12% to
+14%). Operating EBITDA (adjusted for the positive one-time effect from the
second quarter amounting to EUR 1.9 million) is now expected to be in the
range of EUR 89 million to EUR 91 million. This would be an increase
compared to the previous year's value (EUR 69.5 million) of +28% to +31%
(previous forecast: EUR 77 million to EUR 80 million).
Overview of key figures
In EUR million Q3 2016 Q3 2015 Δ in % 9M 2016 9M 2015 Δ in %
Revenue 83.9 70.7 +18.5% 245.4 205.9 +19.2%
- thereof 43.3 36.4 +19.0% 129.0 106.7 +20.9%
software
licenses
- thereof 36.6 31.5 +16.0% 104.3 89.9 +16.1%
software
service
EBITDA 21.0 16.8 +24.9% 66.6 49.4 +34.8%
Margin 25.1% 23.8% 27.1% 24.0%
EBITDA (w/o 21.0 16.8 +24.9% 64.7 49.4 +30.9%
one-time
effect)
Margin (w/o 25.1% 23.8% 26.4% 24.0%
one-time
effect)
EBITA 19.2 15.1 +26.6% 61.3 44.5 +37.7%
(normalized
EBIT)
Margin 22.8% 21.4% 25.0% 21.6%
Net income 12.1 8.7 +38.9% 36.3 24.2 +49.9%
(Group shares)
Earnings per 0.31 0.23 +38.9% 0.94 0.63 +49.9%
share in euros
Net income 14.2 10.5 +35.6% 42.3 29.6 +43.0%
(Group shares)
before
depreciation
from purchase
price
allocation
Earnings per 0.37 0.27 +35.6% 1.10 0.77 +43.0%
share before
depreciation
from purchase
price
allocation
Key figures by segment
In EUR million Q3 2016 Q3 2015 Δ in % 9M 2016 9M 2015 Δ in %
Design
Revenue 55.5 49.4 +12.2% 162.3 143.4 +13.2%
EBITDA 16.6 13.0 +27.3% 45.8 34.7 +32.1%
Margin 29.8% 26.3% 28.2% 24.2%
Build
Revenue 21.6 14.9 +45.3% 62.0 43,5 +42.6%
EBITDA 2.4 1.7 +40.9% 11.5 8.0 +43.5%
Margin 11.3% 11.6% 18.6% 18.5%
Manage
Revenue 1.7 1.5 +17.4% 5.0 4.2 +19.4%
EBITDA 0.4 0.3 +15.4% 1.0 0.6 +50.2%
Margin 22.8% 23.2% 19.3% 15.4%
Media &
Entertainment
Revenue 5.0 4.9 +1.2% 16.1 14.9 +8.3%
EBITDA 1.6 1.7 -7.3% 6.4 6.0 +5.8%
Margin 32.5% 35.5% 39.7% 40.6%
The complete 9-month report for 2016 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 92793 1229
szimmermann@nemetschek.com
About the Nemetschek Group
The Nemetschek Group, Munich, is a globally leading software provider for
the AEC (Architecture, Engineering, Construction) industry. With its 13
brands, the Nemetschek Group now serves around 2.1 million users in 142
countries from more than 50 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 285.3 million and an EBITDA of EUR 69.5
million in 2015.
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28.10.2016 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: investorrelations@nemetschek.com
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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515333 28.10.2016
DGAP-News: Nemetschek Group maintains high growth pace in the third quarter and considerably increases revenue and profitability
| Source: EQS Group AG