Nemetschek AG / Change in Forecast
04.12.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Significant drop in revenues in November
- Revenues for 2008 likely to be at last years level
- EBITDA margin of around 20 percent expected
Munich, December 14, 2008 The effects of the worldwide economic slowdown
are now being felt for the first time by the Nemetschek Group (ISIN
0006452907). In November, Europes leading vendor of information technology
for the design, construction and management of buildings recorded a
significant first-time drop in revenues following uninterrupted growth up
to and including October. International sales, in particular, were slow in
November while revenues in Germany were largely stable.
Under these circumstances, it is likely that the company will no longer be
able to maintain the original revenue targets for the year. From todays
perspective, instead of a medium-digit percent increase in revenues, the
group expects revenues to be at around last years level (146 million
euros). Nevertheless, thanks to strict cost discipline, an EBITDA margin of
around 20 percent ought to be achieved. In its most recent projection, the
company had forecast a margin of more than 20 percent for 2008. The
anticipated corporate profit is also likely to be affected by a necessary
revaluation of the interest rate swaps following the change in the interest
rates landscape. This results in a one-time interest payment of 1.7 million
euros, which, however, will not have any effect on the cashflow.
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Information and Explaination of the Issuer to this News:
Explanations
'The Nemetschek Group has defied the economic downturn for a long time,
thanks also to the trend in German-speaking countries that is still
comparatively stable,' says Nemetschek CEO Ernst Homolka. In view of the
drop in revenues in November and the economic outlook, which has again
worsened drastically, the company, however, now has to assume that
end-of-year sales will be slow. Year-of-end sales are traditionally focused
on November and December.
Homolka stated that a serious forecast for 2009 was not yet possible in
view of the uncertain economic outlook. 'The Nemetschek Group, however, has
a firm footing. We have a strong cashflow and are focused on earnings.'
About Nemetschek
The Nemetschek Group is a leading international IT company in the AEC
sector (Architecture, Engineering, Construction). The technology group
develops integrated solutions for the complete life cycle of buildings and
real estate from building design and construction through to facility
management. The companys products are currently used by more than 270,000
companies in 142 countries and in 16 languages to optimize the complete
building creation and management process in terms of quality, cost and
time. Nemetschek was founded in 1963 by Prof. Nemetschek and has more than
1,100 employees worldwide. In fiscal 2007, the group achieved sales of 146
million euros. For more information, see www.nemetschek.com
Nemetschek AG
Regine Petzsch
Konrad-Zuse-Platz 1
81829 Munich
Germany
Tel. +49 89 92793-1219
Fax +49 89 92793-5404
rpetzsch@nemetschek.com
DGAP 04.12.2008
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Language: English
Issuer: Nemetschek AG
Konrad-Zuse-Platz 1
81829 München
Deutschland
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
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-Adhoc: Nemetschek AG: Nemetschek adjusts forecast for 2008
| Source: EQS Group AG