DGAP-News: Nemetschek AG / Key word(s): Quarter Results/9-month figures
- Revenue grows by 38.2% to reach new top mark of EUR 70.7 million in Q3
- Nine-month revenue increases by 34.2% to EUR 205.9 million
- Non-domestic business and software licenses as growth drivers
- EBITDA at EUR 49.4 million (+27.2%) after nine months completely within expectations
- After revenue forecast is raised, EBITDA target range is also increased for 2015
"We picked up even more speed in the third quarter. It's becoming clearer and clearer that our strategic investment in new brands, solutions and markets is paying off and that we are thus laying the foundations for future growth," says Patrik Heider, Spokesman of the Executive Board and CFOO of the Nemetschek Group.
Major indicators of the Group's success
- Group revenue in the third quarter rose to EUR 70.7 million, a growth of 38.2% compared to the same quarter in the previous year (EUR 51.2 million). In the first nine months of 2015, revenue increased by 34.2% to EUR 205.9 million (previous year's period: EUR 153.5 million). Adjusted for currency effects, revenue from January to September rose by 28.5%. Bluebeam Software contributed EUR 11.1 million to Q3 revenue and EUR 32.1 million to nine-month revenue. The Group's organic growth thus remained at a high 16.5% in Q3; 13.3% from a nine-month perspective.
- Likewise, earnings before interest, taxes, depreciation and amortization (EBITDA) rose considerably by 27.0% in Q3 to EUR 16.8 million (Q3 2014: EUR 13.2 million). In the first nine months, it was possible to raise EBITDA to EUR 49.4 million, an increase of 27.2% (previous year's period: EUR 38.8 million). The earnings figure accounts for future-oriented investments, e.g. for increasing personnel in the areas of sales and marketing.
- The EBITDA margin for Group revenue was 24.0% after nine months, and thus completely within the company's expectations (9M 2014: 25.3%).
- The tax rate after three quarters rose to 31.0% (previous year's period: 26.9%). The increase is caused in particular by deferred tax expenses on unrealized intra-Group foreign exchange gains.
- In the first nine months, net income for the year (Group shares) rose by 8.3% to EUR 24.2 million (previous year's period: EUR 22.3 million). Accordingly, the earnings per share increased from EUR 0.58 in the previous year's period to EUR 0.63.
- Adjusted for depreciation and amortization from purchase price allocation (PPA), which increased as a result of the Bluebeam acquisition, net income for the year rose even more strongly by 19.0% to EUR 29.6 million (previous year's period: EUR 24.8 million). This corresponds to an adjusted earnings per share figure of EUR 0.77 (previous year's period: EUR 0.65 per share).
Global growth course advances
With a plus of 48.7% to EUR 106.7 million (previous year's period: EUR 71.8 million), revenue from software licenses constituted a further growth driver. Recurring revenue from software service contracts increased by 21.7% to EUR 89.9 million (previous year's period EUR 73.8 million).
Balance sheet ratios show financial strengths and soundness of the Group
Development of the segments
As a result of the Bluebeam acquisition, the Build segment underwent great expansion. Bluebeam itself reinforced its international presence, e.g. through the acquisition of Swedish distributor Bluebeam AB and through new reseller and technology partnerships. In the first three quarters, segment revenue increased to EUR 43.5 million, which is more than quadruple the previous year's value of EUR 10.7 million. Organic nine-month revenue of EUR 11.4 million was thus 6.5% more than that of the previous year. EBITDA jumped to EUR 8.0 million (previous year: EUR 2.0 million) with an almost unchanged EBITDA margin of 18.5% (9M 2014: 18.7%).
Revenue in the Manage segment increased by 11.4% to EUR 4.2 million (9M 2014: EUR 3.7 million). EBITDA remained at the previous year's level at EUR 0.6 million, which corresponds to an EBITDA margin of 15.4% (previous year's period: 16.9%).
In the first nine months, the Media & Entertainment segment showed a favorable growth in revenue of 18.0% to EUR 14.9 million following EUR 12.6 million in the previous year's period. EBITDA increased to EUR 6.0 million (previous year's period: EUR 5.2 million), and thus the EBITDA margin remained at a high 40.6% (previous year's period: 41.0%).
Outlook for fiscal year 2015: EBITDA forecast increased
Overview of key figures
* For reasons of better comparability, the earnings per share after the stock split are shown
Key figures by segment
The complete nine-month report for 2015 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
2015-10-30 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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