Nemetschek SE · XETR:NEM
Nemetschek — Q3 2018 Earnings Presentation
17 slides from Nemetschek's earnings presentation, Oct 30, 2018
Slide 1: Financial Highlights Third Quarter / 9 Months Results 2018
Nemetschek Group Financial Highlights Third Quarter / 9 Months Results 2018 October 30, 2018
Slide 2: Top key figures Q3 2018: Continued fast, double-digit growth and strong increase in earnings
Top key figures Q3 2018: Continued fast, double-digit growth and strong increase in earnings Revenues Recurring revenues EBITDA EPS €m €m €m € 114,9 58,3 +19.8% 95,8 +19.7% cc1 +26.4% 46,1 +26.5% cc1 0,47 0,39 29,2 +19.9% 24,8 +17.8% +16.4% cc1 Q3 2017 Q3 2018 Q3 2017 Q3 2018 Q3 2017 Q3 2018 Q3 2017
Slide 3: Top key figures 9M 2018: On the way to achieving the guidance and a next record year
Top key figures 9M 2018: On the way to achieving the guidance and a next record year Revenues Recurring revenues EBITDA EPS €m €m €m € 330,9 +14.2% 289,8 +18.0% cc1 162,4 +20.5% 134,8 +24.2% cc1 1,37 +22.9% 88,2 1,11 76,5 +15.3% +17.2% cc1 9M 2017 9M 2018 9M 2017 9M 2018 9M 2017 9M 2018 9M 2017 9M 2
Slide 4: Growth driver recurring revenues: Smooth transition towards subscription ongoing
Growth driver recurring revenues: Smooth transition towards subscription ongoing Revenue split 9M 2018 Q3 2018 9M 2018 9M 2018 comments Recurring revenues yoy Recurring revenues yoy ▌ Above average growth to 3,8% (4.2%)2 +26.4% +20.5% € 162.4m +26.5% cc1 +24.2% cc1 Subscription yoy Subscription yoy
Slide 5: Internationalization is key: US is strongest growing market
Internationalization is key: US is strongest growing market Revenue split 9M 2018 Q3 2018 9M 2018 Germany Germany 9% +7% (9%)2 +5% 29% (30%)2 UK UK +33% +30% +37% cc1 +33% cc1 32% (29%)2 Europe Europe +12% +10% +14% cc1 +12% cc1 30% (32%)2 Americas Americas Germany +44% +24% +46% cc1 +33% cc1 Europe
Slide 6: Segment overview: Build segment is key growth driver
Segment overview: Build segment is key growth driver Revenues in €m Media & Design Build Manage Entertainment 67,8 61,0 +11.1% +11.1% cc1 37,2 +35.4% 27,5 +34.8% cc1 6,2 3,6 5,3 +18.5% +75.0% +17.7% cc1 2,1 +76.0% cc1 Q3 2017 Q3 2018 Q3 2017 Q3 2018 Q3 2017 Q3 2018 Q3 2017 Q3 2018 EBITDA Margin 28.5
Slide 7: Healthy balance sheet allows further strategic M&A
Healthy balance sheet allows further strategic M&A 81.8% High cash conversion rate1 Comments in €m 88,2 ▌ +15.3% EBITDA 76,5 Cash flow from 72,1 ▌ +5.8% operating activities 68,2 ▌ Slight increase mainly due to higher tax prepayments compared to last year Cash flow from -71,1 ▌ € 7.8m in Capex as pl
Slide 8: 9-month highlights: Driving key strategic projects
9-month highlights: Driving key strategic projects Internationalization Next-generation Operational excellence products & solutions Entering new markets / Partnerships Acquisition (Brand-level) Increase efficiency ▌ Graphisoft enters into strategic partnership with ▌ Nemetschek acquired MCS Solution
Slide 9: Outlook 2018 confirmed: On the way to a new record year
Outlook 2018 confirmed: On the way to a new record year and to reaching full-year guidance Goal Outlook 2020 Result 2018 > 600m€ 2017 Revenues 447 – 457 m€ 1 1 396m€ EBITDA margin 25%–27% ▌ Revenues: double-digit growth rate ▌ EBITDA margin: on sustainable level of 25%-27% ▌ Investments 2018: additi
Slide 10: Financial Calendar
Financial Calendar November 13, 2018 Capital market day Morgan Stanley TMT Conference, November 15, 2018 Barcelona November 27, 2018 Equity Forum, Frankfurt Berenberg European Conference, December 6, 2018 Pennyhill OCTOBER 2018 FINANCIAL HIGHLIGHTS THIRD QUARTER / FIRST NINE MONTHS 2018 10
Slide 11: Q&A
Q&A OCTOBER 2018 FINANCIAL HIGHLIGHTS THIRD QUARTER / FIRST NINE MONTHS 2018 11
Slide 12: Appendix
Appendix OCTOBER 2018 FINANCIAL HIGHLIGHTS THIRD QUARTER / FIRST NINE MONTHS 2018 12
Slide 13: P+L statement Q3 2018 comparison
P+L statement Q3 2018 comparison €m Q3 2018 Q3 2017 % YoY 9M 2018 9M 2017 %YoY Revenues 114.9 95.8 +19.8% 330.9 289.8 +14.2% Own work capitalized/other operating income 1.2 1.3 -10.4% 4.3 3.5 +25.0% Operating income 116.1 97.2 +19.4% 335.3 293.3 +14.3% Cost of materials/purchased services -3.6 -3.4
Slide 14: Balance sheet – Assets
Balance sheet – Assets €m September 30, 2018 December 31, 2017 Assets Cash and cash equivalents 106.8 104.0 Trade receivables, net 51.6 41.0 Inventories 1.4 0.6 Other current assets 21.4 13.5 Current assets, total 181.2 159.1 Property, plant and equipment 16.6 14.9 Intangible assets 104.6 86.9 Goodw
Slide 15: Balance sheet – Equity and liabilities
Balance sheet – Equity and liabilities €m September 30, 2018 December 31, 2017 Equity and liabilities Short-term borrowings and current portion of long-term loans 52.1 36.0 Trade payables & accrued liabilities 44.6 43.7 Deferred revenue 95.6 68.1 Other current assets 19.6 18.0 Current liabilities, t
Slide 16: Cash flow statement
Cash flow statement €m September 30, 2018 September 30, 2017 % YoY Cash and cash equivalents at the beginning of the period 104.0 112.5 -7.6% Cash flow from operating activities 72.1 68.2 +5.8% Cash flow from investing activities -71.1 -31.9 +122.6% t/o CapEX -7.8 -6.9 +12.1% t/o Cash paid for busin
Slide 17: Contact
Contact NEMETSCHEK SE Disclaimer Investor Relations Konrad-Zuse-Platz 1 This presentation contains forward-looking statements based on the beliefs of Nemetschek SE management. Such statements reflects current views of Nemetschek SE with respect to future events and results and are subject to risks a