DGAP-News: Nemetschek AG / Key word(s): Final Results/Forecast
Nemetschek Group plans further strong revenue and earnings growth
after record year 2014
31.03.2015 / 07:00
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Corporate News
Nemetschek Group plans further strong revenue and earnings growth after
record year 2014
- Revenue rises by 17.5% to EUR 218.5 million in 2014
- EBITDA grows over-proportionally to revenue by 22.8% to EUR 56.8
million
- Earnings per share significantly above previous year at EUR 3.27
(+31.1%)
- Proposed dividend rises to EUR 1.60 per share (+23%)
- Positive 2015 prospects: Bluebeam acquisition will accelerate growth
Munich, March 31, 2015 - The Nemetschek Group (ISIN 0006452907) looks back
on a very successful 2014 fiscal year with a strong fourth quarter. Revenue
and earnings reached record highs. The Group revenue of the Nemetschek
Group increased by 17.5 percent to EUR 218.5 million (previous year: EUR
185.9 million), thus exceeding the forecast corridor of EUR 211 to 216
million. In the fourth quarter, revenues rose to EUR 65.0 million, a growth
of 25.7% compared to the same quarter in the previous year (EUR 51.7
million).
Earnings from operative activities increased over-proportionally to revenue
growth. The earnings before interest, taxes, depreciation and amortization
(EBITDA) rose in the course to the year as a whole by 22.8% to EUR 56.8
million (previous year: EUR 46.3 million). The operating margin grew
accordingly to 26.0% (previous year: 24.9%) and exceeded the forecast
corridor of 23% to 25% despite the acquisition costs for US software
company Bluebeam. EBITDA increased to EUR 18.0 million in Q4, a plus of
24.2% compared to the quarter of the previous year (EUR 14.5 million). The
net income for the year (Group shares) rose considerably as of December 31,
2014: At EUR 31.5 million, this was 31.1% more than the previous year (EUR
24.0 million). Accordingly, the earnings per share rose from EUR 2.49 in
the previous year to EUR 3.27. In Q4, the net income for the year (Group
shares) rose by 16.5% to EUR 9.1 million, an earnings per share of EUR 0.95
(previous year: EUR 0.82).
Growth in all major regions
The Nemetschek Group further advanced its international growth strategy and
extended its market presence, especially in the USA, with the acquisition
of Bluebeam. In total, non-domestic revenues climbed by 19.5% to EUR 131.5
million (previous year: EUR 110.1 million). Thus, the share of revenues
abroad rose to 60.2%. In addition to the USA, the growth regions include
markets in Asia, especially Japan, and Latin America. Germany, too,
continued to develop positively: With a plus of 14.6%, revenues increased
to EUR 87.0 million (previous year: EUR 75.9 million).
Increase in revenue from software licenses and software service contracts
With a plus of 20.7%, revenues from software licenses rose to EUR 105.0
million (previous year: EUR 87.0 million). It was possible to increase
revenues from software service contracts to EUR 101.0 million, a rise of
13.3% compared to the previous year (EUR 89.1 million).
"The achieved results of operations prove the sustainable success of the
Nemetschek Group," summarizes Patrik Heider, Spokesman of the Executive
Board and CFOO of the Nemetschek Group, regarding the 2014 fiscal year. "We
exceeded our targets in terms of revenue and earnings, attained record
figures and made important moves towards a successful future. The ongoing
expansion of our solution portfolio, our innovative strength, consistent
internationalization and the emphasis on growth - organic and as a result
of acquisitions - are key drivers of this successful development. In
keeping with our newly defined acquisition strategy, with the acquisition
of Bluebeam we have thus invested in the megatrend of collaboration for the
improved cooperation between all those involved in the building process. At
the same time, the acquisition allows us to considerably extend our
presence in the important US market."
Development of the segments
The Design segment is a major growth driver of the Group. There was a
significant increase in revenues, which grew by 17.1% to EUR 175.1 million
(previous year: EUR 149.5 million). The Vectorworks and Graphisoft brands
in particular contributed to this growth. Purely organic growth (without
the 11-month effect of EUR 9.2 million from DDS) was approx. 11%. EBITDA
rose over-proportionally to revenue: At EUR 43.8 million it was 32.5%
higher than that of the previous year (EUR 33.1 million). The EBITDA margin
rose from 22.1% in the previous year to 25.0%.
In the Build segment, revenue rose by 30.4% to EUR 20.1 million (previous
year: EUR 15.4 million). This includes revenues of EUR 4.9 million as a
result of Bluebeam, consolidated since October 31, 2014. Organic revenue
amounted to EUR 15.2 million and almost reached the previous year's level.
EBITDA reached EUR 4.1 million (previous year: EUR 5.5 million), which
corresponds to an EBITDA margin of 20.5% (previous year: 36.0%). The
decline of the EBITDA margin can be traced back to the capitalization of
own work capitalized in the amount of EUR 1.6 million in the previous year.
In 2014 there were no further items of own work capitalized.
Revenues in the Manage segment rose by 5.0% compared to the previous year
to EUR 5.3 million (previous year: EUR 5.0 million), with the fourth
quarter being the strongest with 12.3% growth. EBITDA remained at the
previous year's level at EUR 1.1 million.
The Media & Entertainment segment showed favorable revenue growth which
rose by 12.4% to EUR 18.0 million (previous year: EUR 16.0 million) with
strong year's end business. The EBITDA margin remained high at 43.2%
(previous year: 40.7%).
Proposed dividend of EUR 1.60 per share
As in previous years, the Nemetschek Group would also like to involve its
shareholders in the positive development. At the annual general meeting on
May 20, 2015, the Executive Board and Supervisory Board will propose to
increase the dividend to EUR 1.60 per share; a plus of 23% over the
previous year (EUR 1.30 per share). The Nemetschek Group would thus pay out
about 35% of the operative cash flow.
Positive prospects for 2015
In 2015, too, the Nemetschek Group plans to continue to grow profitably and
sustainably and to gain market share. Growth will be accompanied by
strategic investments, e.g. in extending BIM 5D expertise, targeting new
customer segments in the area of Media & Entertainment and further
internationalization of the brands. For the 2015 fiscal year, the
Nemetschek Group anticipates an increase in revenue ranging from EUR 262
million to EUR 269 million (+20% to +23% compared to 2014). The Nemetschek
Group estimates purely organic growth in the corridor of 6% to 9%. An
increase in EBITDA in the target range of EUR 62 million to EUR 65 million
is expected.
Overview of key figures
In EUR million Q4 Q4 Î in 12M 12M Î in
2014 2013 % 2014 2013 %
+25. +17.
Revenue 65.0 51.7 7% 218.5 185.9 5%
+37. +20.
- Of this software licenses 33.2 24.2 2% 105.0 87.0 7%
+13.
- Of this software service 27.2 24.8 +9.8% 101.0 89.1 3%
+24. +22.
EBITDA 18.0 14.5 2% 56.8 46.3 8%
Margin 27.6% 28.0% 26.0% 24.9%
+15. +22.
EBITA (normalized EBIT) 16.1 13.9 9% 51.3 42.0 1%
Margin 24.8% 26.9% 23.5% 22.6%
+16. +31.
Net income for the year (Group) 9.1 7.9 5% 31.5 24.0 1%
+16. +31.
Earnings per share in euros 0.95 0.82 5% 3.27 2.49 1%
Net income for the year before
depreciation of purchase price +12. +19.
allocation 10.5 9.3 9% 35.3 29.6 1%
Earnings per share before depreciation +12. +19.
of purchase price allocation 1.09 0.96 9% 3.67 3.08 1%
Key figures by segment
In EUR million Q4 2014 Q4 2013 Î in % 12M 2014 12M 2013 Î in %
Design
Revenue 48.7 42.2 +15.3% 175.1 149.5 +17.1%
EBITDA 12.8 10.7 +20.1% 43.8 33.1 +32.5%
Margin 26.3% 25.2% 25.0% 22.1%
Build
Revenue 9.4 4.1 +129.5% 20.1 15.4 +30.4%
EBITDA 2.1 1.7 +26.9% 4.1 5.5 -25.6%
Margin 22.7% 41.0% 20.5% 36.0%
Manage
Revenue 1.6 1.4 +12.3% 5.3 5.0 +5.0%
EBITDA 0.5 0.3 +31.6% 1.0 1.1 -3.9%
Margin 29.3% 25.0% 20.6% 22.5%
Media & Entertainment
Revenue 5.3 4.0 +32.9% 18.0 16.0 +12.4%
EBITDA 2.6 1.8 +45.4% 7.8 6.5 +19.5%
Margin 48.7% 44.5% 43.2% 40.7%
The complete 2014 annual report 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 more than 1.8 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
revenues of EUR 218.5 million and an EBITDA of EUR 56.8 million in 2014.
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31.03.2015 Dissemination of a Corporate News, transmitted by DGAP - a
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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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News-Service
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339483 31.03.2015
DGAP-News: Nemetschek Group plans further strong revenue and earnings growth after record year 2014
| Source: EQS Group AG