Nemetschek AG / Key word(s): Quarter Results
Nemetschek continues to grow
Revenue up by 9 percent in first nine months / EBITDA margin of 24 percent / forecast for 2011 confirmed
Munich, October 28, 2011: Nemetschek AG (ISIN 0006452907), Europe's largest vendor of software for architecture and construction, saw a 9 percent increase in revenues in the first nine months of 2011 to 117.9 million euros. Compared to the previous year, the operating result (EBITDA) rose by 5 percent to 27.9 million euros, representing an EBITDA margin of 24 percent.
Recurring revenues from maintenance contracts rose by 13 percent
In the Design business unit, revenue rose 8 percent to 95.0 million euros. The EBITDA margin in this segment was 21 percent, compared to 22 percent in the previous year. The Multimedia segment was the front runner in terms of revenue and increased profit: Here, revenues increased by 32 percent to 10.1 million euros and consequently, the EBITDA margin rose from 38 to 46 percent. In the Build segment, revenues increased slightly by 2 percent to 10.1 million euros, and the EBITDA margin was 33 percent (previous year: 38 percent). In the Manage business unit, which is currently being restructured, revenues (2.7 million euros) and EBITDA (0.3 million euros) remained at the previous year's level.
Earnings per share 1.38 euros
Net income stood at 14.2 million euros, 4 percent higher than the previous year's value, which was marked by a one-time gain of 1.6 million euros from the sale of 8 percent of shares in DocuWare AG. The earnings per share (consolidated shares, basic) was 1.38 euros (previous year: 1.37 euros).
Cash flow for the period increased by 12 percent
After a dividend payment of 9.6 million euros and loan repayments of 7.8 million euros, the cash and cash equivalents were 31.4 million and therefore exceeded the remaining loan for the Graphisoft acquisition by 19.7 million euros. The equity ratio of the Nemetschek Group is 60 percent.
The group confirmed its forecasts for the current fiscal year. Unless the underlying conditions significantly worsen in the very near future, Nemetschek still expects an operating result (EBITDA) of around 40 million euros, equivalent to an EBITDA margin of around 24 percent. The liabilities resulting from the Graphisoft acquisition will be almost completely eliminated in 2011, meaning that the group's interest charges will also fall further. As a result, the net income for 2011 will probably increase to more than 20 million euros, as forecast.
The Nemetschek Group is Europe's leading vendor of software for architecture and construction. The graphical, analytical and commercial solutions cover a large part of the entire value chain in construction - from the planning and visualization of a building and the construction process itself through to building management. The software programs range from CAD solutions for architects and engineers to construction software for cost planning, tenders, awarding of contracts and execution. These are complemented by solutions for facility and real estate management as well as visualization software for architects and the movie industry.
The company was founded in 1963 and employs more than 1,000 people worldwide. Its products are used by more than 300,000 customers in 142 countries worldwide. In 2010, Nemetschek achieved revenues of 150 million euros and an operating result (EBITDA) of 37 million euros.
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