DGAP-News: Nemetschek AG / Key word(s): Half Year Results
Nemetschek's 2014 strong half year figures are convincing
31.07.2014 / 07:00
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Corporate News
Nemetschek's 2014 strong half year figures are convincing
- Revenue plus of 15.6% to EUR 102.3 million.
- Strong EBITDA growth to EUR 25.6 million (+25.5%)
- Earnings per share significantly above previous year at EUR 1.50 Euro
(+38.8%)
Munich, July 31, 2014 - The Nemetschek Group (ISIN 0006452907) increased
its revenues in the first half of 2014 by 15.6% to EUR 102.3 million
(previous year: EUR 88.5 million). On a quarterly basis, revenues rose to
EUR 51.3 million, a growth of 14.6% compared to the previous year's quarter
(EUR 44.8 million). Again, there was an above-average increase in earnings
from operative activities compared to revenues. With a plus of 25.5%,
EBITDA rose to EUR 25.6 million in the first six months of 2014 (previous
year: EUR 20.4 million). The EBITDA margin improved by 2 percentage points
to 25.0% (previous year: 23.0%). From a quarterly perspective, EBITDA grew
in the second quarter to EUR 12.4 million, an increase of 29.2% compared to
the previous year's quarter. Net income for the year (Group shares)
improved considerably in the first half of 2014: at EUR 14.4 million, it
was 38.8% higher than that of the previous year (EUR 10.4 million).
Accordingly, the earnings per share rose from EUR 1.08 in the previous year
to EUR 1.50. On a quarterly basis, net income for the year (Group shares)
rose by 40.7% to EUR 6.9 million, which corresponds to an earnings per
share of EUR 0.72.
Increase in revenues at home and abroad at high level
Domestic revenues rose by 16.4% to EUR 41.1 million in the first half of
2014 (previous year: EUR 35.3 million). Abroad it was possible to increase
revenues by 15.1% to EUR 61.2 million (previous year: EUR 53.2 million).
Double-digit growth with software licenses and software service contracts
With a plus of 17.2%, revenues from software licenses rose to EUR 48.3
million in the first half (previous year: EUR 41.3 million). It was
possible to increase revenues from software service contracts to EUR 48.5
million, a plus of 14.6% compared to the previous year (EUR 42.3 million).
Double-digit growth in the two divisions ensures recurring revenues through
service contracts and thriving business from new customers through
licenses.
"The Nemetschek Group continued its successful development in the second
quarter and was again able to considerably increase revenues and earnings.
In addition to strong business in Germany, the international growth course
also continued, for example, in Asia," says Patrik Heider, CFOO and
Spokesman of the Executive Board of the Nemetschek Group. "We are very
happy that our software licenses are back in growth mode and that we are
gaining new customers," adds Heider.
High equity ratio and liquid reserves
The equity ratio was 62.9% as of June 30, 2014. Despite a dividend
distribution of approximately EUR 12.5 million, the Nemetschek Group's net
liquidity remains high at EUR 58.7 million, thus providing a healthy basis
to pursue planned growth.
Development of the segments
The Design segment developed very positively and with a growth rate of
19.2% achieved revenues of EUR 84.6 million (previous year: EUR 70.9
million). It was possible to significantly increase EBITDA by 43.1% to EUR
20.3 million, and thus the EBITDA margin at 24.0% was 4 percentage points
higher than that of the previous year (previous year: 20.0%).
In the Build segment, revenues of EUR 7.1 million were below the previous
year's level (EUR 7.5 million). The decline in revenues was mainly as a
result of project shifts to the second half of the year. EBITDA reached EUR
1.6 million (previous year: EUR 2.6 million), which corresponds to an
EBITDA margin of 22.6% (previous year: 34.0%). The EBITDA margin declined
primarily because own work capitalized for the NEVARIS software solution
ended. While there were approximately EUR 0.8 million in activations in
this segment in the previous year, there have been no activations in 2014.
Revenues in the Manage segment rose by 8.2% to EUR 2.4 million (previous
year: EUR 2.2 million). Due to investments, EBITDA was slightly below that
of the previous year at EUR 0.3 million, which resulted in an EBITDA margin
of 14.4% (previous year: 18.2%).
The Multimedia segment showed a solid revenue growth rate of 5.5%. Revenues
in the first half of the year amounted to EUR 8.2 million (previous year:
EUR 7.8 million). The EBITDA margin continued to remain high at 41.0%
(previous year: 41.9%).
Guidance for 2014 confirmed
Experts anticipate continued good development in the construction industry
and in the core markets addressed by Nemetschek. In view of the positive
business development in the first half of 2014 and the solid market
environment, we confirm our forecast of achieving revenues ranging from EUR
207 million to EUR 212 million (a rise of 11% to 14%). We expect an EBITDA
margin of between 23% and 25%.
Overview of key figures
In EUR million Q2 Q2 Î in HY HY Î in
2014 2013 % 2014 2013 %
Revenues 51.3 44.8 +14.6% 102.3 88.5 +15.6%
- Thereof software licenses 24.0 20.7 +15.7% 48.3 41.3 +17.2%
- Thereof software service 24.7 21.5 +14.8% 48.5 42.3 +14.6%
EBITDA 12.4 9.6 +29.2% 25.6 20.4 +25.5%
Margin 24.2% 21.5% 25.0% 23.0%
EBITA (normalized EBIT) 11.3 8.5 +32.0% 23.3 18.3 +27.5%
Margin 22.0% 19.1% 22.8% 20.7%
Net income for the year (Group shares) 6.9 4.9 +40.7% 14.4 10.4 +38.8%
Earnings per share in euros 0.72 0.51 +40.7% 1.50 1.08 +38.8%
Net income before depreciation of 7.7 6.3 +22.8% 16.1 13.2 +22.1%
purchase price allocation
Earnings per share before depreciation 0.80 0.65 +22.8% 1.67 1.37 +22.1%
of purchase price allocation
Key figures by segment
In EUR million Q2 2014 Q2 2013 Î in % HY 2014 HY 2013 Î in %
Design
Revenues 42.7 36.2 +17.8% 84.6 70.9 +19.2%
EBITDA 10.0 6.8 +46.3% 20.3 14.2 +43.1%
Margin 23.4% 18.8% 24.0% 20.0%
Build
Revenues 3.3 3.7 -11.8% 7.1 7.5 -5.4%
EBITDA 0.7 1.3 -45.0% 1.6 2.6 -37.1%
Margin 22.5% 36.0% 22.6% 34.0%
Manage
Revenues 1.2 1.2 +1.3% 2.4 2.2 +8.2%
EBITDA 0.1 0.2 -29.9% 0.3 0.4 -14.3%
Margin 11.8% 17.1% 14.4% 18.2%
Multimedia
Revenues 4.1 3.6 +13.8% 8.2 7.8 +5.5%
EBITDA 1.6 1.3 +24.6% 3.4 3.2 +3.4%
Margin 37.9% 34.6% 41.0% 41.9%
The complete 6-month report for 2014 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 Nemetschek Group
Nemetschek, Munich, is a globally leading provider of software solutions
for the AEC (Architecture, Engineering, Construction) industry. With its 12
brands, the Nemetschek Group now serves more than 1.2 million users in 142
countries from more than 40 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
revenues of EUR 185.9 million in the 2013 financial year and an EBITDA of
EUR 46.3 million.
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Language: English
Company: Nemetschek AG
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: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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280010 31.07.2014
DGAP-News: Nemetschek's 2014 strong half year figures are convincing
| Source: EQS Group AG