Nemetschek AG: Nemetschek doubles earnings per share

Fri, 29 Oct 2010 06:50:26
DGAP-News: Nemetschek AG: Nemetschek doubles earnings per share


Nemetschek AG / Key word(s): Quarter Results
29.10.2010 06:50


Corporate News

Nemetschek doubles earnings per share

Revenues up by 12 percent in the first nine months of 2010 / EBITDA margin of 25 percent / forecast confirmed

Munich, October 29, 2010 - In the first nine months of 2010 Nemetschek AG (ISIN 0006452907), Europe's largest vendor of software for architecture, civil engineering and the building industry, managed to significantly increase group revenues: compared with the same period last year, which was marked by the consequences of the world economic crisis, revenues increased by 12 percent to 108.3 million euros. The EBITDA increased by 40 percent to 26.5 million euros. The operating margin thus increased from 20 percent to 25 percent. Net income (group shares) rose by more than 100 percent from 6.3 to 13.2 million euros. The cash flow from normal business activities amounted to 27.6 million euros, up from 18.1 million euros in the previous year - a year-on-year increase of 52 percent.

Revenues from license sales up by 21 percent

Compared with the first nine months of 2009 the revenues from license sales increased by 21 percent to 53.3 million euros, while the revenues from long-term maintenance contracts improved by 6 percent to 49.1 million euros. Here, it is the group's foreign markets in particular that have clearly recovered, with a 17 percent increase in revenues to 64.5 million euros. The revenues in Germany rose by 4 percent to 43.8 million euros.
While the revenue level remained largely stable in the Build and Manage segments, the Design and Multimedia business units showed significant growth: in the Design segment revenues rose by 12 percent to 88.0 million euros. The Multimedia segment increased its revenues by 33 percent to 7.7 million euros.

Earnings per share more than doubled 

Thanks to this considerable growth the Nemetschek Group achieved an EBITDA of 26.5 million euros in the first nine months of the current fiscal year (previous year: 18.9 million euros). At 91.9 million euros the operating costs were up by 5 percent from the previous year. This is largely attributable to revenue-dependent cost items such as dealer commissions and bonuses as well as higher expenses for the market launch of the new product versions of Allplan, Vectorworks and Maxon. The operating profit (EBIT) amounted to 19.4 million euros compared with 11.7 million euros in the previous year. Net income (group shares) thus amounted to 13.2 million euros (previous year: 6.3 million euros). The earnings per share (group shares, basic) thus more than doubled compared with the previous year: from 0.65 euros to 1.37 euros.

The strong operating result in the first nine months is also reflected in the cash flow: compared with the previous year the cash flow from normal business activities increased by 9.5 million euros to 27.6 million euros (previous year: 18.1 million euros). The cash flow from investing activities amounted to -2.4 million euros (previous year: -2.9 million euros). The free cash flow thus amounted to 25.2 million euros.
Compared to December 31, 2009, the liquid funds increased by 13.3 million euros to 36.2 million euros and now exceed the remaining loans from the Graphisoft acquisition (27.0 million euros) by 9.2 million euros. The Nemetschek Group has an equity quote of 52 percent (December 31, 2009: 50 percent).

Forecast confirmed

'In the first three quarters of the current fiscal year our revenues almost returned to the level achieved in 2008 - and the EBITDA margin is at a record high,' emphasizes Ernst Homolka, CEO, Nemetschek AG.
For the year as a whole, management expects revenues to increase by around 9 percent - and thus growth to settle at the upper end of the forecast that was raised in the middle of the year. With this in mind the EBITDA margin is expected to be at around 24 percent. 'The plus in revenues could be even more significant should the fourth quarter progress well', emphasized Homolka.


The Nemetschek Group at a
glance
INCOME STATEMENT - KEY 9 months to Sept. 30, 9 months to Sept. 30, FIGURES 2010 2009 EUR millions EUR millions Revenues 108,3 96,9 License sales 53,3 44,0 Maintenance 49,1 46,1 Service & hardware 5,9 6,8 Gross profit 105,4 93,4 as % of revenue 97 96 EBITDA 26,5 18,9 as % of revenue 25 20 EBIT 19,4 11,7 as % of revenue 18 12 Net income (group shares)
adjusted by PPA effects 17,4 10,5 per share in EUR 1,81 1,09 Net income (group shares) 13,2 6,3 per share in EUR 1,37 0,65 CASH FLOW - KEY FIGURES as of Sept. 30, 2010 as of Sept. 30, 2009 EUR millions EUR millions Cash flow for the period 24,5 17,8 Cash flow from operating 27,6 18,1 activities
Cash flow from investing -2,4 -2,9 activities
BALANCE SHEET - KEY FIGURES as of Sept. 30, 2010 as of Dec. 31, 2009 EUR millions EUR millions Net debt / Net cash 9,2 -9,4 Liquid funds 36,2 22,9 Equity 87,7 79,6 Equity quote 52 50 Headcount as of balance sheet 1.063 1.064 date



About Nemetschek

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 over 1.000 people worldwide. Its products are used by more than 300,000 customers in 142 countries worldwide. In 2009, Nemetschek achieved revenues of 135.6 million euros and an operating result (EBITDA) of 30.4 million euros.
In case of queries, please contact:

Nemetschek AG
Head of Investor Relations
Regine Petzsch
Konrad-Zuse-Platz 1 
81829 Munich
Germany
Phone: +49 89 92793-1219
Fax: +49 89 92793-5404


29.10.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
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Language:     English
Company:      Nemetschek AG
              Konrad-Zuse-Platz 1
              81829 München
              Deutschland
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
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Hamburg, München, Düsseldorf, Berlin, Stuttgart  
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