Nemetschek Se · XETR:NEM
Nemetschek — Q2 2014 Earnings Presentation
21 slides from Nemetschek's earnings presentation, Jul 31, 2014
Slide 1: Q2 2014 Earnings Call
Q2 2014 Earnings Call July 31th, 2014
Slide 2: Agenda
Agenda Executive summary Financial data Outlook 2014 Appendix 2
Slide 3: Summary Q2 / Half year 2014 (1)
Summary Q2 / Half year 2014 (1) Continued successful revenue development Q2 revenues increased to 51.3 mEUR (+14.6%) Half-yearly revenues at 102.3 mEUR (+15.6%) Design segment: growth driver with an increase of 19.2% in the first half Software licenses business back on growth path: plus 17.2% to 48.
Slide 4: Summary Q2 / Half year 2014 (2)
Summary Q2 / Half year 2014 (2) Strong increase of net income and EPS Net income (group shares) with significant growth of +38.8% to 14.4 mEUR EPS at 1.50 EUR Net income w/o PPA at 16.1 mEUR (+22.1%) EPS w/o PPA at 1.67 EUR Cash flow and liquidity situation Operating cash flow up by 36.6% to 26.0 mE
Slide 5: Agenda
Agenda Executive summary Financial data Outlook Appendix 5
Slide 6: Continued growth in revenues in the second quarter
Continued growth in revenues in the second quarter in mEUR +15.6% 102,3 88,5 +16.7% +14.6% 51,0 51,3 43,7 44,8 Q1 2013 Q1 2014 Q2 2013 Q2 2014 HY 2013 HY 2014 Strong home market (+16.4%) International markets also in growth mode (+15.1%) 6
Slide 7: Well-balanced growth of license and service contracts
Well-balanced growth of license and service contracts % of revenues Service & Hardware Software services: 5.3% Up by 14.6% to 48.5 mEUR: Recurring revenues secured Software services 47.4% Software Software licenses: licenses 47.3% Up by 17.2% to 48.3 mEUR: New customers wins and increasing customer
Slide 8: High EBITDA margin
High EBITDA margin in mEUR +25.5% 25,6 +22.3% +29.2% 20,4 13,2 12,4 10,8 9,6 Q1 2013 Q1 2014 Q2 2013 Q2 2014 HY 2013 HY 2014 Margin 24.6% 25.8% 21.5% 24.2% 23.0% 25.0% EBITDA increased over proportional compared to revenues EBITDA margin up by 2 percentage points to 25.0% 8
Slide 9: Strong EPS development
Strong EPS development in EUR +38.8% 1,50 1,08 +37.2% +40.7% 0,72 0,78 0,51 0,57 Q1 2013 Q1 2014 Q2 2013 Q2 2014 HY 2013 HY 2014 Net result up by 38.8% to 14.4 mEUR, EPS at 1.50 EUR Net result w/o PPA at 16.1 mEUR (+22.1%); EPS w/o PPA at 1.67 EUR 9
Slide 10: Segment overview
Segment overview in mEUR Design Build Manage Multimedia +19.2% Revenues 84,6 70,9 +5.5% -5.4% 8,2 7,8 7,5 7,1 +8.2% 2,2 2,4 HY 2013 HY 2014 HY 2013 HY 2014 HY 2013 HY 2014 HY 2013 HY 2014 EBITDA 20.0% 24.0% 34.0% 22.6% 18.2% 14.4% 41.9% 41.0% Margin Strong growth in both, licenses and software Proje
Slide 11: Highlights
Highlights Products / Solutions New releases of ArchiCAD 18 by Graphisoft and 30 years edition by Allplan with successful implementation of CineRender (rendering engine of Maxon) buildingSMART Nemetschek has joined Strategic Advisory Council to foster better interoperability in the built environment
Slide 12: Net cash development
Net cash development Operating cash flow Increased by 36.6% yoy to 26.0 mEUR CapEx 1.9 mEUR as expected and below last year End of activation period of own worked capitalized Dividend payment 12.5 mEUR after AGM in May Net cash 58.7 mEUR (+20.7% compared to year-end 2013) -12,5 -1,6 HY HY % 24,2 mEU
Slide 13: Agenda
Agenda Executive summary Financial data Outlook Appendix 13
Slide 14: Outlook 2014 confirmed
Outlook 2014 confirmed Market conditions • Sound macroeconomic indicators; solid outlook for construction markets • Growth expected for BIM products and solutions Strategic market • Enhanced market position in the promising BIM 5D market positioning • Clear focus on AEC market and leading in Open BI
Slide 15: IR calendar 2014 and contact
IR calendar 2014 and contact 31/07/2014 Publication Q2 2014 30/10/2014 Publication Q3 2014 Contact: Stefanie Zimmermann Investor Relations +49 89 92793 1229 szimmermann@nemetschek.com 15
Slide 16: Agenda
Agenda Executive summary Financial data Outlook Appendix 16
Slide 17: P+L statement – Q2 / HY comparison
P+L statement – Q2 / HY comparison mEUR Q2 2014 Q2 2013 % YoY HY 2014 HY 2013 % YoY Revenues 51.3 44.8 +14.6% 102.3 88.5 +15.6% Own work capitalized/ other operating income 0.7 0.7 +8.8% 1.7 2.0 -15.2% Operating income 52.0 45.4 +14.5% 103.9 90.4 +14.9% Cost of materials/ purchased services -1.8 -2.
Slide 18: Balance sheet – Assets
Balance sheet – Assets mEUR June 30, 2014 Dec 31, 2013 Assets Cash and cash equivalents 58.7 48.6 Trade receivables, net 24.7 21.9 Other current assets 10.4 9.2 Total current assets 93.8 79.6 Property, plant and equipment 5.4 5.3 Intangible assets 27.5 30.9 Goodwill 59.4 60.1 Other non-current asset
Slide 19: Balance sheet – Equity and liabilities
Balance sheet – Equity and liabilities mEUR June 30, 2014 Dec 31, 2013 Equity and liabilities Trade payables & accrued liabilities 19.5 20.1 Deferred revenue 34.5 23.5 Other current liabilities 10.8 10.4 Total current liabilities 64.8 54.0 Deferred tax liabilities 3.4 4.1 Other non-current liabiliti
Slide 20: Cash flow statement
Cash flow statement mEUR June 30, 2014 June 30, 2013 % YoY Cash at beginning of period 48.6 44.3 +9.6% Operating cash flow 26.0 19.1 +36.6% Investing cash flow -1.8 -2.5 (-26.0) t/o CapEx -1.9 -2.5 Financing cash flow -14.1 -12.1 17.4% FX-effects 0.1 -0,2 Cash at end of period 58.7 48.7 +20.6% Free
Slide 21: 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