Nemetschek SE · XETR:NEM
Nemetschek — Q2 2023 Earnings Presentation
18 slides from Nemetschek's earnings presentation, Jul 31, 2023
Slide 1: Earnings Call Q2-/H1-23
Earnings Call Q2- / H1-23 Nemetschek Group July 31, 2023
Slide 2: Key Messages
1. Q2-23: In line with expectations. Main growth driver subscription and SaaS revenues. Profitability impacted by expected one-offs. 2. H1-23: Successful start to the year with record high recurring revenues. Continued progress on strategic initiatives. Key 3. On track to reach FY-23 outlook with ex
Slide 3: Financial Results Q2-23
01 Financial Results Q2-23 03 Nemetschek Group | Earnings Call Q2-/ H1-23
Slide 4: Q2-23: In Line With Expectations, Recurring Business Main Growth Driver
Q2-23: In Line With Expectations, Recurring Business Main Growth Driver ARR Revenues EBITDA EPS EURm EURm EURm EUR +22.4% +1.8% -18.2% +24.2% cc1 -29.4% +3.3% cc1 -13.3% cc1 630.7 515.1 203.8 207.5 68.6 0.40 56.1 0.28 Q2-22 Q2-23 Q2-22 Q2-23 Q2-22 Q2-23 Q2-22 Q2-23 • Continued strong increase in • G
Slide 5: Strategic Highlights First Half 2023
Strategic Highlights First Half 2023 Start-up Investments Go-to-market • New Venture investments in 5 highly • Strengthening of internationalization and cross- innovative and disruptive start-ups (e.g. selling activities Kewazo, SmartPM, and Preoptima) • Increased focus on large customer segment • J
Slide 6: Key Financial Highlights H1-23: Successful First Half to the Year
Key Financial Highlights H1-23: Successful First Half to the Year Revenues: EBITDA: Cash Conversion: +4.1% (FX adj.: +4.2%) to -15.4% (FX adj.: -12.3%) to 104% EUR 412.1m EUR 117.1m ARR: EBITDA margin: Net Cash Position: +22.4% (FX adj.: +24.2%) to 28.4% EUR 168.3m EUR 630.7m Subscription/SaaS Reven
Slide 7: Segments H1-23: According to Plan, Strong Subscription Growth in all Segments
Segments H1-23: According to Plan, Strong Subscription Growth in all Segments DESIGN BUILD* MEDIA MANAGE* Revenues +7.6% -3.1% +8.2% +6.6% EURm +7.6% cc1 -3.1% cc1 +8.8% cc1 +8.0% cc1 189.6 204.0 133.6 129.4 26.6 28.4 50.0 54.1 H1-22 H1-23 H1-22 H1-23 H1-22 H1-23 H1-22 H1-23 Margin 31.1% 24.9% 42.9%
Slide 8: Revenues by Type: Subscription/SaaS driving Recurring Revenue Share to >75%
Revenues by Type: Subscription/SaaS driving Recurring Revenue Share to >75% Q2-23 Comments Revenue Share Revenue Share • Indicates strong future by type in % of Subscription/SaaS • +22.4% growth with EUR 631m ARR2 y/y • +24.2% cc1 • Expected acceleration in H2-23 100% • Continued strong Recurring •
Slide 9: At a Glance: Income Statement and Important KPIs
At a Glance: Income Statement and Important KPIs Key Figures mEUR H1-23 In % of revenue H1-22 Growth y/y Revenues 412.1 100% 396.1 +4.1% Cost of goods and services -17.0 4.1% -14.6 +16.6% Personnel expenses -182.4 44.3% -163.5 +11.5% Other operating income/expenses -95.7 23.2% -79.6 +20.3% EBITDA 11
Slide 10: Outlook
02 Outlook 10 Nemetschek Group | Earnings Call Q2-/ H1-23
Slide 11: Outlook 2023: On Track after Successful First Half of the Year
Outlook 2023: On Track after Successful First Half of the Year 2022 Guidance Ambition Starting Point 2023 2024 2025 ARR: ARR Growth: Revenue Growth: Revenue Growth: EUR 581.7m > 25% Double digit percentage Significantly above market growth – Share Recurring Share Recurring At least Revenue: Revenue:
Slide 12: Appendix
03 Appendix 12 Nemetschek Group | Earnings Call Q2-/ H1-23
Slide 13: Income Statement
Income Statement €m H1 2023 H1 2022 % YoY Revenues 412.1 396.1 +4.1% Other income 3.6 7.1 -49.0% Operating income 415.8 403.2 +3.1% Cost of goods and services -17.0 -14.6 +16.6% Personnel expenses -182.4 -163.5 +11.5% Other expenses -99.4 -86.7 +14.6% Operating expenses -298.7 -264.8 +12.8% EBITDA 1
Slide 14: Balance Sheet – Assets
Balance Sheet – Assets €m June 30, 2023 December 31, 2022 Assets Cash and cash equivalents 209.2 196.8 Trade receivables, net 93.4 84.5 Inventories 1.6 0.9 Other current assets 50.5 44.9 Current assets, total 354.6 327.1 Property, plant and equipment 26.6 26.6 Right-of-use assets 66.3 69.8 Intangibl
Slide 15: Balance Sheet – Equity and Liabilities
Balance Sheet – Equity and Liabilities €m June 30, 2023 December 31, 2022 Equity and liabilities Short-term borrowings and current portion of long-term loans 37.7 65.1 Trade payables 13.1 15.7 Provisions and accrued liabilities 57.2 70.3 Deferred revenue 262.6 206.9 Current lease liability 16.5 14.9
Slide 16: Cash Flow Statement
Cash Flow Statement €m H1 2023 H1 2022 % YoY Cash and cash equivalents at the beginning of the period 196.8 157.1 +25.3% Cash flow from operating activities 122.2 114.6 +6.6% Cash flow from investing activities -21.9 -21.7 +0.9% t/o CapEX -7.7 -8.3 t/o Cash paid for acquisition of equity investments
Slide 17: Shape the World
SHAPE THE WORLD NEMETSCHEK SE Investor Relations Konrad-Zuse-Platz 1 81829 Munich Germany investorrelations@nemetschek.com www.nemetschek.com NEMETSCHEK SE Konrad-Zuse-Platz 1 | 81829 München | Tel. (089) 540459-0 | www.nemetschek.com
Slide 18: Disclaimer
Disclaimer This presentation contains forward-looking statements based on the beliefs of Nemetschek SE management. Such statements reflect current views of Nemetschek SE with respect to future events and results and are subject to risks and uncertainties. Actual results may vary materially from thos