Nemetschek Se · XETR:NEM
Nemetschek — Q2 2024 Earnings Presentation
19 slides from Nemetschek's earnings presentation, Jul 31, 2024
Slide 1: Earnings Call Q2- / H1-24
Earnings Call Q2- / H1-24 Nemetschek Group July 31, 2024
Slide 2: Key Messages
1. GoCanvas: Highly value-generating acquisition of GoCanvas progressing as expected with closing as of July 1, 2024. 2. Q2-24: Continued high growth driven by strong recurring revenue development in Design and Build segments. Key Profitability impacted by one-off costs in connection with M&A activi
Slide 3: Financial Highlights Q2-24
01 Financial Highlights Q2-24 03 Nemetschek Group | Earnings Call Q2- / H1-24
Slide 4: Q2-24: Recurring Business Driven by +83% Growth in Subscription & SaaS Revenue
Q2-24: Recurring Business Driven by +83% Growth in Subscription & SaaS Revenue ARR Revenues EBITDA EPS EURm EURm EURm EUR +26.5% +9.7% +9.5% +26.2% cc1 +27.7% +9.7% cc1 +8.1% cc1 797.9 630.7 227.7 207.5 56.1 61.4 0.36 0.28 Q2-23 Q2-24 Q2-23 Q2-24 Q2-23 Q2-24 Q2-23 Q2-24 • Ongoing strong increase in
Slide 5: Strategic Highlights First Half 2024
Strategic Highlights First Half 2024 M&A and Start-up Investments Go-to-market • Acquisition of GoCanvas: • Highly value-generating due to complementary • Driving internationalization: Opening of a new local technologies, customer bases, and regional Go-to-Market office in Mumbai, India sales struct
Slide 6: Overview Financial Results H1-24
03 Overview Financial Results H1-24 06 Nemetschek Group | Earnings Call Q2- / H1-24
Slide 7: Key Financial Highlights H1-24: Successful First Half of the Year 2024
Key Financial Highlights H1-24: Successful First Half of the Year 2024 Revenues: EBITDA: Cash Conversion: +9.6% (FX adj.: +10.0%) to +10.8% (FX adj.: +8.3%) to 109.1% EUR 451.6m EUR 129.7m ARR Growth: Net Cash Position: +26.5% (FX adj.: +26.2%) to EBITDA Margin: Adj. EBITDA Margin*: EUR 306.7m EUR 7
Slide 8: Segments H1-24: Design and Build Segments Main Growth Drivers
Segments H1-24: Design and Build Segments Main Growth Drivers DESIGN* BUILD MEDIA MANAGE* Revenues +9.5% +9.9% +7.7% +3.4% EURm +10.1% cc1 +10.0% cc1 +8.5% cc1 +3.4% cc1 228.0 208.1 129.4 142.2 54.1 58.2 24.3 25.1 H1-23 H1-24 H1-23 H1-24 H1-23 H1-24 H1-23 H1-24 Margin 24.4% 27.3% 36.3% 32.6% 35.5% 3
Slide 9: Recurring Revenues: Successful Transition Leads to New Record High of 85%
Recurring Revenues: Successful Transition Leads to New Record High of 85% Revenue Share Recurring & Subscription/SaaS 2020-2024 Overview Q2-24: by type in % 385 • +26.5% ARR2 y/y 400 (+26%) • +26.2% cc1 350 307 (+23%) 300 250 (+22%) 231 250 (+75%) Recurring • +26.5% EURm 196 85% 175 (+16%) revenues
Slide 10: At a Glance: Income Statement and Important KPIs
At a Glance: Income Statement and Important KPIs Key Figures mEUR H1-24 In % of revenue H1-23 Growth y/y Revenues 451.6 100% 412.1 +9.6% Cost of goods and services -19.2 4.3% -17.0 +13.1% Personnel expenses -189.2 41.9% -182.4 +3.8% Other operating income/expenses -113.5 25.1% -95.7 +18.6% EBITDA 12
Slide 11: Outlook
04 Outlook 11 Nemetschek Group | Earnings Call Q2- / H1-24
Slide 12: Guidance 2024: Organic Guidance Confirmed & Expanded by GoCanvas
Guidance 2024: Organic Guidance Confirmed & Expanded by GoCanvas Starting Point Confirmed Organic Guidance Expanded Guidance (incl. GoCanvas) 2023 2024 2024 ARR: ARR Growth: ARR Growth: EUR 718.6m ~ 25% > 30% Revenue Growth: Revenue Growth Impact on Organic Guidance: Revenue: EUR 851.6m 10% - 11% ~
Slide 13: Appendix
05 Appendix 13 Nemetschek Group | Earnings Call Q2- / H1-24
Slide 14: Income Statement
Income Statement €m H1 2024 H1 2023 Y/Y% Revenues 451.6 412.1 +9.6% Other income 4.4 3.6 +20.3% Operating income 456.0 415.8 +9.7% Cost of goods and services -19.2 -17.0 +13.1% Personnel expenses -189.2 -182.4 +3.8% Other expenses -117.9 -99.4 +18.7% Operating expenses -326.3 -298.7 +9.2% EBITDA 129
Slide 15: Balance Sheet – Assets
Balance Sheet – Assets €m June 30, 2024 December 31, 2023 Assets Cash and cash equivalents 309.8 268.0 Trade receivables, net 130.1 99.6 Inventories 0.9 1.0 Other current assets 70.5 49.6 Current assets, total 511.3 418.2 Property, plant and equipment 23.0 23.7 Right-of-use assets 56.0 60.9 Intangib
Slide 16: Balance Sheet – Equity and Liabilities
Balance Sheet – Equity and Liabilities €m June 30, 2024 December 31, 2023 Equity and liabilities Short-term borrowings and current portion of long-term loans 3.1 6.8 Trade payables 20.9 15.3 Provisions and accrued liabilities 61.7 65.7 Deferred revenue 334.8 265.1 Current lease liability 15.8 16.7 O
Slide 17: Cash Flow Statement
Cash Flow Statement €m H1 2024 H1 2023 Y/Y% Cash and cash equivalents at the beginning of the period 268.0 196.8 +36.2% Cash flow from operating activities 141.5 122.2 +15.8% Cash flow from investing activities -31.5 -21.9 +43.6% t/o CapEX -6.0 -7.7 t/o Cash paid for acquisition of equity investment
Slide 18: 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 19: 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