Thu, 18 Feb 2010 07:22:18
DGAP-Ad-hoc: Nemetschek AG: Nemetschek exceeds profit expectations
Nemetschek AG / Preliminary Results
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Nemetschek exceeds profit expectations
EBITDA margin of 22 percent despite 10 percent drop in revenues /
net income up
Munich, February 18, 2010 - During the crisis year 2009, Nemetschek AG
(ISIN 0006452907), Europe's largest vendor of software for architecture and
construction, managed to increase the operative margin despite a drop in
revenues: according to preliminary figures the operating result (EBITDA)
amounts to 30.4 million euros and thus exceeds analyst expectations by 10
During the course of the economic crisis, sales revenues in 2009 dropped by
10 percent from 150.4 million euros to 135.6 million euros as forecast. The
reason for this development in revenues in the past fiscal year was the
drop in revenues from 80.8 million euros to 64.3 million euros in license
sales while the revenues from maintenance contracts actually increased by 5
percent to 62.0 million euros. The group's foreign markets in particular
were affected by the crisis, with a drop in sales revenues from 93.0
million euros to 77.3 million euros; in Germany, sales revenues increased
slightly from 57.4 million euros to 58.3 million euros.
Notwithstanding the drop in sales revenues the group's earnings before
interest, taxes, depreciation and amortization (EBITDA) amounts to 30.4
million euros, which is only marginally less than the previous year's
figure (31.4 million euros). This corresponds to an EBITDA margin of 22
percent, up from 21 percent in 2008, and is attributable to consistent cost
management in all areas of the group. According to the preliminary figures
the group earnings before interest and taxes (EBIT) amount to 20.9 million
euros and are at the same level as the previous year (21.0 million euros).
As a result of fewer interest expenses, the net income (consolidated
shares) is expected to rise from 10.4 million euros to 12.2 million euros.
The cash flow for the period amounted to 28.6 million euros, after 29.9
million euros in 2008. The cash flow from operating activities dropped from
30.4 to 23.5 million euros. The reason for this is the reduction in
liabilities. With liquid assets of 22.9 million euros (previous year: 23.2
million euros) the group's current net debt is 9.3 million euros after 26.1
million euros at the end of 2008. In total, over a period of three years,
Nemetschek has repaid 67.8 million euros of the bank loan of 100 million
euros taken to finance the acquisition of Graphisoft. The equity ratio
increased in from 41 percent in 2008 to 50 percent in 2009.
The complete annual report 2009 will be published on March 24, 2010.
The Nemetschek Group is Europe's largest vendor of software for architects,
engineers and the building industry. Worldwide, the group's companies
support their customers with solutions for the complete lifecycle of
buildings. These encompass the entire value chain - from design and
visualization to the actual construction process to usage and occupancy.
The closely interlinked software solutions facilitate interdisciplinary
collaboration among all those involved in the building process and thus
make the process itself more efficient.
Nemetschek products are used by more than 300,000 customers in 142
countries worldwide. The company was founded in 1963 by Prof. Georg
Nemetschek and has 1,064 employees worldwide. Nemetschek AG, which has been
listed since 1999, achieved revenues exceeding 136 million euros in 2009.
Head of Investor Relations
Phone: +49 89 92793-1219
Fax: +49 89 92793-5404
18.02.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
Company: Nemetschek AG
Phone: +49 (0)89 92 793-0
Fax: +49 (0)89 927 93-5200
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg
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