Nemetschek Se · XETR:NEM
Nemetschek — Q2 2017 Earnings Presentation
17 slides from Nemetschek's earnings presentation, Jul 28, 2017
Slide 1: Nemetschek Group Financial Results Q2 / H1 2017
Barco One Campus, Kortrijk, Belgium Architects: Jaspers-Eyers Architects | Engineering Office: Establis Image: Marc Detiffe | Realized with GRAPHISOFT and SCIA NEMETSCHEK GROUP Financial Results Q2 / H1 2017 July 28, 2017
Slide 2: Nemetschek Group Highlights for Q2 / H1 2017 (1)
Nemetschek Group Highlights for Q2 / H1 2017 (1) Revenues in first half at upper end of guidance 2017 H1 revenues: Strong increase of 20.1% to 194.0 mEUR Organic growth of 14.8% (inorganic effects: dRofus (2.6 mEUR) and Design Double-digit Data (5.7 mEUR)) revenue growth in Q2 revenues: Up by 16.5
Slide 3: Nemetschek Group Highlights for Q2 / H1 2017 (2)
Nemetschek Group Highlights for Q2 / H1 2017 (2) H1 EBITDA: up by 18.3% to 51.7 mEUR, EBITDA margin at 26.6% EBITDA previous year adjusted for one-time gain of 1.9 mEUR at 43.7 EBITDA on high level Including one-time gain EBITDA increased by 13.4% Q2 EBITDA: up by 11.7% to 25.3 mEUR, EBITDA margin
Slide 4: Positive revenue development continued in Q2 2017
Positive revenue development continued in Q2 2017 in mEUR 194,0 161,5 96,3 97,7 83,8 77,7 Q1 2016 Q1 2017 Q2 2016 Q2 2017 HY 2016 HY 2017 Change +24.0% +16.5% +20.1% Organic growth of 11.6% yoy in Q2 Organic growth of 14.8% yoy in H1 Inorganic effects: Design Data: 5.7 mEUR dRofus: 2.6 mEU
Slide 5: International growth accelerated
International growth accelerated Revenues split H1 2017 in % Asia/Pacific 9% Regional facts Germany Strong growth abroad of 24.6% 30% Growth markets: Americas Americas 29% Asia Nordic Continued success in the US as the biggest and most competitive market worldwide Positive revenue deve
Slide 6: High share and strong growth of recurring revenues
High share and strong growth of recurring revenues Revenues split H1 2017 in % Consulting & Hardware 4,3% Recurring revenues* High growth of 29.1% to 88.7 mEUR Software license High recurring revenue share of 45.7% revenues 50,0% leads to higher stability Software license revenues Up by 13.0%
Slide 7: EBITDA margin on high level
EBITDA margin on high level in mEUR * EBITDA w/o 1.9 mEUR positive one-time effect in Q2 2016 51,7 45,6 43,7 * 26,3 25,3 24,6 22,7 * 21,0 Q1 2016 Q1 2017 Q2 2016 Q2 2017 HY 2016 HY 2017 Change +25.5% +11.7%* (+3.1%) +18.3%* (+13.4%) EBITDA 27.0% 27.4% 27.1% 29.3% 25.9% 27.0% 28.2% 26.6% Margin EBI
Slide 8: Net Income and EPS with solid growth
Net Income and EPS with solid growth Net income EPS in mEUR in EUR 27,7 24,2 22,9* 0,72 0,59* 0,63 H1 2016 H1 2017 H1 2016 H1 2017 Change +21.1%* (+14.5%) +21.1%* (+14.5%) * Net income and EPS w/o 1.9 mEUR positive one-time effect JULY 2017 FINANCIAL RESULTS Q2 / H1 2017 8
Slide 9: All segments with double-digit growth rates
All segments with double-digit growth rates Design Build Manage Media & Entertainment Revenue growth in H1: 13.1% Revenue growth of 41.6% in H1 revenue growth of 17.5% H1 revenue growth of 10.1% (organic growth of 10.7%) H1 (organic growth of 27.4%) EBITDA margin improved Planned investments have Ch
Slide 10: Cash flow situation
Cash flow situation in mEUR 51,7 EBITDA EBITDA 45,6 +13.4% yoy Operating cash flow 44,5 Operating cash flow +28.4% yoy 34,6 Previous year: One-time effects of 3.5 mEUR in trade receivables resulting from later customer -28,7 payments (July 2016) – adjusted growth of 16.8% Investing cash flow -3,0 In
Slide 11: Optimistic outlook 2017 confirmed
Optimistic outlook 2017 confirmed Market conditions Digitalization and IT spending will drive the use of software solutions in the AEC market BIM market is expected to grow at a remarkable rate owing to supportive government regulations mandating the adoption of BIM software for construction project
Slide 12: Appendix
JULY 2017 Appendix Financial Results Q2 / H1 2017 12 La Spezia Trade Fair, Italy Architects: Studio Manfroni Associati | Realized with VECTORWORKS
Slide 13: P+L statement Q2 / FY comparison
P+L statement Q2 / FY comparison mEUR Q2 2017 Q2 2016 % YoY 6M 2017 6M 2016 % YoY Revenues 97.7 83.8 +16.5% 194.0 161.5 +20.1% Own work capitalized/other operating income 1.1 3.5 -66.9% 2.1 4.6 -53.9% Operating income 98.8 87.3 +13.2% 196.1 166.2 +18.0% Cost of materials / purchased services -3.5 -2
Slide 14: Balance sheet - Assets
Balance sheet - Assets mEUR June 30, 2017 December 31, 2016 ASSETS Cash and cash equivalents 83.4 112.5 Trade receivables, net 44.8 38.8 Inventories 0.5 0.6 Other current assets 16.2 16.0 Current assets, total 145.0 167.9 Property, plant and equipment 14.1 14.3 Intangible assets 87.6 89.7 Goodwill 1
Slide 15: Balance sheet – Equity and liabilities
Balance sheet – Equity and liabilities mEUR June 30, 2017 December 31, 2016 EQUITY AND LIABILITIES Short-term borrowings and current portion of long-term loans 26.1 26.0 Trade payables & accrued liabilities 34.9 40.7 Deferred revenue 72.9 55.3 Other current assets 29.0 24.1 Current liabilities, tota
Slide 16: Cash flow statement
Cash flow statement mEUR June 30, 2017 June 30, 2016 % YoY Cash and cash equivalents at the beginning 112.5 84.0 +34.0% of the period Cash flow from operating activities 44.5 34.6 +28.4% Cash flow from investing activities -28.7 -3.0 t/o CapEX -4.0 -3.2 +26.0% t/o Cash paid for business combinations
Slide 17: Contact
Architects: Patterson Associates Architects | Image: Patrick Reynolds | Realized with GRAPHISOFT Len Lye Center, New Plymouth, New Zealand Contact NEMETSCHEK SE Disclaimer Investor Relations Konrad-Zuse-Platz 1 This presentation contains forward-looking statements based on the beliefs of Nemetschek