Nemetschek SE · XETR:NEM
Nemetschek — H1 2019 Earnings Presentation
16 slides from Nemetschek's earnings presentation, Jul 26, 2019
Slide 1: Earnings Call Nemetschek Group Second Quarter / Half Year 2019
Earnings Call Nemetschek Group 26 July 2019 | Patrik Heider, Spokesman & CFOO Second Quarter I Half Year 2019 University Library Freiburg, Germany Architects: Degelo Architects, Basel, Switzerland | Image: Andrea Secci | Realized with GRAPHISOFT
Slide 2: Key Business Highlights H1 2019: Excellent Basis for Achieving Targets in FY 2019
Key Business Highlights H1 2019: Excellent Basis for Achieving Targets in FY 2019 Strong Performance Continued in H1 2019 M&A / Sale Successes Brand-level acquisitions: Revenues: Manage Division $ +23.9% to € 267.7m +30.2% Revenues abroad Axxerion by MCS, renamed afterwards in Spacewell EBITDA margi
Slide 3: Top Key Figures Q2 2019: Strong Growth of >20% Continued with High Operating Margin of 29%
Top Key Figures Q2 2019: Strong Growth of >20% Continued with High Operating Margin of 29% Revenues Recurring revenues EBITDA EPS m€ m€ m€ € 137,8 +21.1% 73,2 113,8 +18.0% cc1 +36.6% +33.5% cc1 53,6 40,0 +28.6% 31,1 +26.5% cc1 2 0,19 0,16 +20.8% Q2 2018 Q2 2019 Q2 2018 Q2 2019 Q2 2018 Q2 2019 Q2 201
Slide 4: Top Key Figures H1 2019: On the Way to Another Record Year
Top Key Figures H1 2019: On the Way to Another Record Year Revenues Recurring revenues EBITDA EPS m€ m€ m€ € 267,7 140,9 +23.9% 216,0 +20.5% cc1 +35.3% 104,1 +31.8% cc1 76,6 +30.0% 59,0 +25.7% cc1 0,36 2 0,30 +20.3% H1 2018 H1 2019 H1 2018 H1 2019 H1 2018 H1 2019 H1 2018 H1 2019 | Strong double-digi
Slide 5: Growth Driver Recurring Revenues: Subscription is Key Driver
Growth Driver Recurring Revenues: Subscription is Key Driver Revenue distribution H1 2019 Q2 2019 H1 2019 5,4% Recurring revenues yoy Recurring revenues yoy (3.9%)2 +36.6% +35.3% +33.5% cc1 +31.8% cc1 Subscription yoy Subscription yoy 42,0% 52,6% (47.9%)2 (48.2%)2 +147.6% +136.7% +142.2% cc1 +130.8%
Slide 6: Internationalization Is Key: Broad Growth Across All Regions
Internationalization Is Key: Broad Growth Across All Regions Revenue distribution H1 2019 Q2 2019 H1 2019 Germany Germany +3% +8% 9% (9%)2 Europe Europe 25% +14% +19% (29%)2 +14% cc1 +19% cc1 UK UK +12% +25% 33% (30%)2 +11% cc1 +25% cc1 Scandinavia Scandinavia +36% +41% 33% +39% cc1 +43% cc1 (32%)2
Slide 7: Segment Overview: Build Segment Remains Key Growth Driver in H1
Segment Overview: Build Segment Remains Key Growth Driver in H1 Revenues in m€ Media & Design Build Manage Entertainment 150,0 +12.0% 84,6 133,9 +10.0% cc1 17,5 +29.4% 65,4 +22.9% cc1 15,7 +23.5% +323.2% 12,7 +19.7% cc1 +322.8% cc1 4,1 H1 2018 H1 2019 H1 2018 H1 2019 H1 2018 H1 2019 H1 2018 H1 2019
Slide 8: Strong Cash Conversion Allows Further Investment in Organic Growth and Strategic M&A
Strong Cash Conversion Allows Further Investment in Organic Growth and Strategic M&A 90.4% High cash conversion rate1 Comments in m€ 76,6 | +30.0% - partly influenced by IFRS 16 EBITDA 59,0 | Adjusted growth (IFRS 16): +17.5% | +59.8% Cash flow from 69,3 | Strong development driven by good operative
Slide 9: Outlook 2019: Strong Double-Digit Growth While Maintaining a High EBITDA Margin Confirmed
Outlook 2019: Strong Double-Digit Growth While Maintaining a High EBITDA Margin Confirmed Outlook 2019 Result Target range: 540 – 550 m€ 2018 Growth: Revenues € 461.3m 17% – 19% EBITDA margin* 26.3%* 25% – 27%* * Without effects from IFRS 16 27% – 29% incl. IFRS 16 | Revenues range: € 540 – 550m, st
Slide 10: Appendix
Appendix Montforthaus, Feldkirch, Austria Falcon Hospital, HASCHER JEHLE Guangzhou, Germany | Images: David Matthiessen | realized with NEVARIS Architektur,China Visualization: Slashcube, Switzerland | Realized with MAXON
Slide 11: P+L Statement Comparison – Q2 / H1 2019
P+L Statement Comparison – Q2 I H1 2019 €m Q2 2019 Q2 2018 % YoY H1 2019 H1 2018 %YoY Revenues 137.8 113.8 +21.1% 267.7 216.0 +23.9% Own work capitalized/other operating income 1.2 2.2 -45.8% 2.8 3.1 -12.4% Operating income 139.0 116.0 +19.8% 270.5 219.2 +23.4% Cost of materials/purchased services -
Slide 12: Balance Sheet – Assets
Balance Sheet – Assets €m June 30, 2019 December 31, 2018 Assets Cash and cash equivalents 119.8 120.7 Trade receivables, net 65.3 55.8 Inventories 1.6 1.2 Other current assets 30.8 24.6 Current assets, total 217.4 202.2 Property, plant and equipment 24.7 17.6 Right-of-use assets 65.3 0.0 Intangible
Slide 13: Balance Sheet – Equity and Liabilities
Balance Sheet – Equity and Liabilities €m June 30, 2019 December 31, 2018 Equity and liabilities Short-term borrowings and current portion of long-term loans 80.5 56.3 Trade payables & accrued liabilities 43.0 53.5 Deferred revenue 126.2 95.1 Current lease liability 11.3 0.0 Other current assets 21.
Slide 14: Cash Flow Statement
Cash Flow Statement €m June 30, 2019 June 30, 2018 % YoY Cash and cash equivalents at the beginning of the period 120.7 104.0 +16.2% Cash flow from operating activities 69.3 43.4 +59.8% Cash flow from investing activities -111.8 -8.2 t/o CapEX -12.7 -5.2 t/o Cash paid for business combinations -97.6
Slide 15: Safe Harbor Statement
Safe Harbor Statement Architects: Bond Bryan Architects, Great Britain | Realized with GRAPHISOFT Each of the presentations today will contain forward-looking statements about our strategies, products, future results, performance or achievements, financial, operational and otherwise, including state
Slide 16: Contact
Engineering office: Studieburo Mouton, Ghent, Belgium | Image: Andrea Secci | Realized with SCIA Contact NEMETSCHEK SE Investor Relations Konrad-Zuse-Platz 1 81829 Munich Germany Port House, Antwerp, Belgium investorrelations@nemetschek.com www.nemetschek.com Earnings Call Q2 / H1 2019 16 26 JULY 20