Nemetschek AG / Key word(s): Final Results/Forecast
- 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
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
Increase in revenue from software licenses and software service contracts
"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
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
Positive prospects for 2015
Overview of key figures
Key figures by segment
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
About the Nemetschek Group
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