DGAP-News: Nemetschek AG: Nemetschek continues to grow

DGAP-News: Nemetschek AG / Key word(s): Quarter Results
Nemetschek AG: Nemetschek continues to grow

28.10.2011 / 07:15

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Corporate News

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 first nine months, revenues from license sales rose by 6 percent to
56.7 million euros. Revenues from long-term maintenance contracts increased
by 13 percent to 55.3 million euros; they thus made up 47 percent of the
total revenue. In foreign markets, revenues rose by 9 percent to 70.5
million euros, making up 60 percent of the total revenue. In Germany,
revenues increased by 8 percent compared to the same quarter of the
previous year to 47.5 million euros.

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
The operating result (EBITDA) rose by 5 percent compared to the previous
year to 27.9 million euros, which corresponds to an EBITDA margin of 24
percent. Operating expenses increased by 9 percent to 100.1 million euros.
Personnel costs rose by 8 percent to 50.9 million euros. The main reason
for this was a change to the employee and wage structure at Hungarian
subsidiary Graphisoft, as well as a slight increase in personnel in several
group companies. Other operating expenses rose in the first nine months by
14 percent to 36.1 million euros: In addition to the foreign currency
losses incurred in the first six months, this is primarily due to the
higher dealer commissions resulting from the increases in revenue, as well
as higher marketing and sales costs generated by several product launches.

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
In the first nine months, the Group achieved cash flow for the period of
27.4 million euros, compared with 24.5 million euros in the previous year.
Because of advance tax payments and the reduction of liabilities, the cash
flow from operating activities was 24.8 million euros, compared with 27.6
million euros in the previous year. The cash flow from investment
activities amounted to - 4.0 million euros (previous year: - 2.0 million
euros). At 3.5 million euros, investments in fixed assets remained largely
at the previous year's level (3.7 million euros), but in the previous year,
an additional 1.6 million euros flowed into the company as a result of the
sale of DocuWare shares. The free cash flow was thus 20.7 million euros,
compared with 25.6 million euros in the same period of the previous year.

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.

Outlook confirmed
The development in the first nine months confirms the growth in sales of
around 10 percent forecast for 2011. So far, the group has experienced only
a marginal weakening of the business climate in some foreign markets and in
project business. In Germany, the group was able to grow strongly and
expects this trend to continue. At the start of October, the construction
industry association HDB (Hauptverband der deutschen Bauindustrie) revised
its growth forecast for 2011 from 4.5 to 7 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.

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 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.

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


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Language:    English                                               
Company:     Nemetschek AG                                         
             Konrad-Zuse-Platz 1                                   
             81829 München                                         
             Germany                                               
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 Berlin, Düsseldorf, Hamburg, München,  
             Stuttgart                                             
 
 
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143849 28.10.2011