Nemetschek Se · XETR:NEM
Nemetschek — Q1 2014 Earnings Presentation
20 slides from Nemetschek's earnings presentation, Apr 30, 2014
Slide 1: Q1 2014 Earnings Call
Q1 2014 Earnings Call April 30th, 2014
Slide 2: Agenda
Agenda Executive summary Financial data Outlook 2014 Appendix 2
Slide 3: Summary Q1 2014 (1)
Summary Q1 2014 (1) Revenue growth factors Positive start in FY 2014 with Q1 revenue increase of 16.7% to 51.0 mEUR Software licenses business picked up again by 18.7% to 24.3 mEUR Software service revenues continued on its growth path with an increase of 14.3% to 23.8 mEUR Accelerated international
Slide 4: Summary Q1 2014 (2)
Summary Q1 2014 (2) Profitability improved EBITDA increased stronger than revenues: +22.3% to 13.2 mEUR EBITDA margin with 25.8% at high level EBITA (normalized EBIT) up by 23.5% to 12.0 mEUR Strong increase of net income and EPS Net income (group shares) showed strong growth of +37.2% to 7.5 mEUR E
Slide 5: Agenda
Agenda Executive summary Financial data Outlook Appendix 5
Slide 6: Revenue increased in Q1 2014
Revenue increased in Q1 2014 in mEUR +16.7% 51,7 51,0 44,8 45,8 43,7 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Successful start in the fiscal year 2014 Q1 2014 revenues increased by 16.7% to 51.0 mEUR 6
Slide 7: Well-balanced growth of license and service business
Well-balanced growth of license and service business % of revenues Service & Software licenses: Hardware Up by 18.7% to 24.3 mEUR: 5.7% New customers wins and increasing customer base Software services 46.6% Software services: Software licenses Up by 14.3% to 23.8 mEUR: 47.7% Recurring revenues secu
Slide 8: EBITDA increased stronger than revenues
EBITDA increased stronger than revenues in mEUR +22.3% 14,5 13,2 11,4 10,8 9,6 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 24.6% 21.5% 25.0% 28.0% 25.8% EBITDA up by 22.3% to 13.2 mEUR EBITDA margin at 25.8% 8
Slide 9: Net income and EPS up by 37.2% yoy
Net income and EPS up by 37.2% yoy Net income in mEUR EPS in EUR +37.2% 7,5 5,5 +37.2% 0,78 0,57 Q1 2013 Q1 2014 Q1 2013 Q1 2014 Net income w/o PPA up by 22.2% to 8.4 mEUR EPS w/o PPA at 0.87 EUR 9
Slide 10: Segment overview
Segment overview in mEUR Design Build Manage Multimedia +20.6% Revenues 41,9 34,7 -1.7% +0.7% 4,1 4,1 3,8 3,9 +16.1% 1,0 1,2 Q1 2013 Q1 2014 Q1 2013 Q1 2014 Q1 2013 Q1 2014 Q1 2013 Q1 2014 EBITDA 21.1% 24.6% 32.1% 22.8% 19.5% 17.0% 48.3% 44.2% Margin Vectorworks and Graphisoft Stable development Con
Slide 11: Net cash development
Net cash development Operating cash flow Increased by 46.7% yoy to 20.1 mEUR CapEx 0.8 mEUR as expected End of activation period of own worked capitalized Net cash 67.0 mEUR (+38.0% compared to year-end 2013) 80,0 70,0 -- 0,7 Q1 Q1 % mEUR 2014 2013 YoY 60,0 19,1 50,0 EBITDA 13.2 10.8 +22.3% 40,0 Ope
Slide 12: Agenda
Agenda Executive summary Financial data Outlook Appendix 12
Slide 13: Optimistic outlook 2014
Optimistic outlook 2014 Market conditions • Robust development of construction markets, despite political unrest • Strong growth expected for BIM products and solutions Strategic market • Clear focus on AECM market positioning • Leading in Open BIM solutions • Strong and independent global brands Fi
Slide 14: IR calendar 2014 and contact
IR calendar 2014 and contact 30/04/2014 Publication Q1 2014 20/05/2014 AGM, Munich 31/07/2014 Publication Q2 2014 30/10/2014 Publication Q3 2014 Contact: Stefanie Zimmermann Investor Relations +49 89 92793 1229 szimmermann@nemetschek.com 14
Slide 15: Agenda
Agenda Executive summary Financial data Outlook Appendix 15
Slide 16: P+L statement – Q1 comparison
P+L statement – Q1 comparison mEUR Q1 2014 Q1 2013 % YoY Revenues 51.0 43.7 16.7% Own work capitalized/ Other operating income 1.0 1.3 -27.5% Operating income 51.9 45.0 +15.4% Cost of materials/ purchased services -2.0 -2.1 -4.1% Personnel expenses -22.0 -19.2 +14.5% Other operating expenses -14.8 -
Slide 17: Balance sheet – Assets
Balance sheet – Assets mEUR March 31, 2014 Dec 31, 2013 Assets Cash and cash equivalents 67.0 48.6 Trade receivables, net 25.5 21.9 Other current assets 10.1 9.2 Total current assets 102.7 79.6 Property, plant and equipment 5.3 5.3 Intangible assets 29.0 30.9 Goodwill 59.7 60.1 Other non-current ass
Slide 18: Balance sheet – Equity and liabilities
Balance sheet – Equity and liabilities mEUR March 31, 2014 Dec 31, 2013 Equity and liabilities Trade payables & accrued liabilities 17.5 20.1 Deferred revenue 39.2 23.5 Other current liabilities 12.5 10.4 Total current liabilities 69.2 54.0 Deferred tax liabilities 4.3 4.1 Other non-current liabilit
Slide 19: Cash flow statement
Cash flow statement mEUR March 31, 2014 March 31, 2013 % YoY Cash at beginning of period 48.6 44.3 +9.6% Operating cash flow 20.1 13.7 +46.7% Investing cash flow -1.0 -1.3 t/o CapEx -0.8 -1.4 Financing cash flow -0.4 -0,4 -0.8% FX-effects -0.3 -0,2 Cash at end of period 67.0 56.0 +19.5% Free cash fl
Slide 20: Disclaimer
Disclaimer This presentation contains forward-looking statements based on the beliefs of Nemetschek AG management. Such statements reflect current views of Nemetschek AG with respect to future events and results and are subject to risks and uncertainties. Actual results may vary materially from thos