Nemetschek Se · XETR:NEM
Nemetschek — FY2018 Earnings Presentation
23 slides from Nemetschek's earnings presentation, Mar 29, 2019
Slide 1: Financial Results 2018 / Outlook 2019 Earnings Call
Outlook 2019 Financial Results 2018 / Nemetschek Group Earnings Call 29 March 2019 | Patrik Heider, Spokesman & CFOO University Library Freiburg, Germany Architects: Degelo Architects, Basel, Switzerland | Image: Andrea Secci | Realized with GRAPHISOFT
Slide 2: Nemetschek's Key Figures: 5 Years - 5 Achievements
Nemetschek’s Key Figures: 5 Years - 5 Achievements $ | We generate high | We outperform our peers | We have become | Strong EPS | Sustainable dividend policy shareholder returns1 in terms of growth2 a truly global player development with continuous growth 5-year TSR1: 5-year revenue CAGR: 5-year US
Slide 3: 5-Years Development: Positioned to Provide Strong Growth
5-Years Development: Positioned to Provide Strong Growth AEC business mix Revenue mix Global mix 4% 3% 6% 9% 3% 9% 9% 28% 11% 8% CAGR 40% CAGR 2013 +20% 5 years1 32% 2018 59% 47% 2018 49% 2013 +20% 5 years1 32% 2018 80% 40% 31% Design Recurring revenues Germany Maintenance and rental models such as
Slide 4: Key Business Highlights: New Record Levels and Successes in FY 2018
Key Business Highlights: New Record Levels and Successes in FY 2018 Strong Performance M&A Successes Focus on customer Revenues: Group-level acquisition >5m $ +16.6% to € 461.3m +19.8% Revenues abroad Spacewell (formerly MCS) Customers Promise kept: € 447–457m EBITDA margin: Dividend proposal: 3 bra
Slide 5: Financial Results FY 2018
01 Financial Results FY 2018 Port House, Antwerp, Belgium Engineering office: Studieburo Mouton, Ghent, Belgium | Image: Andrea Secci | Realized with SCIA
Slide 6: Top Key Figures FY 2018: Another Record Year with Strong Growth
Top Key Figures FY 2018: Another Record Year with Strong Growth Revenues Recurring revenues EBITDA EPS m€ m€ m€ m€ 461,3 225,8 +16.6% 395,6 +22.8% +19.2% cc1 183,9 +25.3% cc1 1,94 1,99 +2.4% 121,3 +22.5%* 108,0 +12.3% +13.0% cc1 FY 2017 FY 2018 FY 2017 FY 2018 FY 2017 FY 2018 FY 2017 FY 2018 | Conti
Slide 7: Growth Driver Recurring Revenues: Strongest Growth in Subscription
Growth Driver Recurring Revenues: Strongest Growth in Subscription Revenue distribution FY 2018 FY 2018 FY 2018 comments 4,0% Recurring revenues yoy | Above average growth (4.2%)2 to € 225.8m +22.8% +25.3% cc1 49,0% Subscription yoy | Strong growth to € 22.1m 47,0% (46.5%)2 (previous year: € 13.5m)
Slide 8: Internationalization Is Key: US Is Strongest Growing Market
Internationalization Is Key: US Is Strongest Growing Market Revenue distribution FY 2018 FY 2018 9% (9%)2 Germany Americas 28% +9% +29% (30%)2 +35% cc1 32% UK Asia (30%)2 +30% +16% +32% cc1 +20% cc1 31% Europe (31%)2 +13% +14% cc1 Germany Europe (w/o Germany) Americas Asia/Pacific Earnings Call FY 2
Slide 9: Segment Overview: Build Segment Is Key Growth Driver
Segment Overview: Build Segment Is Key Growth Driver Revenues in m€ Media & Design Build Manage Entertainment 273,6 148,0 13,8 25,9 249,2 +9.8% 23,8 +9.1% +11.4% cc1 +29.2% +11.4% cc1 114,6 +34.0% cc1 +71.3% +72.1% cc1 8,1 FY 2017 FY 2018 FY 2017 FY 2018 FY 2017 FY 2018 FY 2017 FY 2018 EBITDA Margin
Slide 10: Healthy Cash Conversion Allows Further Investment in Organic Growth and Strategic M&A
Healthy Cash Conversion Allows Further Investment in Organic Growth and Strategic M&A 82.3% High cash conversion rate1 Comments in m€ 121,3 EBITDA | +12.3% 108,0 | +2.4% Cash flow from 99,7 | Increase in trade receivables and other liabilities operating activities 97,4 | One-time effect: Cash impact
Slide 11: Financial Outlook / Strategic Priorities
03 Financial Outlook Strategic Priorities / Montforthaus, Feldkirch, Austria Falcon Hospital, HASCHER JEHLE Guangzhou, Germany | Images: David Matthiessen | realized with NEVARIS Architektur,China Visualization: Slashcube, Switzerland | Realized with MAXON
Slide 12: New Executive Board & Leadership Structure: Strong Customer-Oriented Divisions
New Executive Board & Leadership Structure: Strong Customer-Oriented Divisions Strong market focus by bundling Customer-driven Strong leadership and concentrated brand competences cooperating divisions market / user know-how Viktor Varkonyi Jon Elliott Koen Matthijs Patrik Heider EB Member EB Member
Slide 13: Numerous Stakeholders: Huge Information Loss at the Hand-Over Points
Numerous Stakeholders: Huge Information Loss at the Hand-Over Points Full Cycle BIM Planning & Design Build & Construct Operate & Manage 100% Information Value Waste Waste Waste Time Information is collected during each phase of the building lifecycle. Stakeholders still act in silos. Owners are dem
Slide 14: Three Strategic Initiatives to drive the End-to-End BIM Workflow
Three Strategic Initiatives to drive the End-to-End BIM Workflow Planning & Design Build & Construct Operate & Manage 3. Strategic Initiative: Smart Building Platform | Driving Spacewell to create an integrated portfolio for the 100% total building management lifecycle 1. Strategic Initiative: | Clo
Slide 15: Investment Focus: Our Strategic Investments of € 10 Million in 2018
Investment Focus: Our Strategic Investments of € 10 Million in 2018 3 Strategic initiatives to drive Internationalization Operational next-generation solutions excellence 1. From Design to Build Enter adjacent markets Increase efficiency | Targeting large customers by connecting | Leverage regional
Slide 16: Outlook 2019: Strong Double-Digit Growth While Maintaining a High EBITDA Margin
Outlook 2019: Strong Double-Digit Growth While Maintaining a High EBITDA Margin Outlook 2019 Result Target range: 540 – 550 m€ 2018 Growth: Revenues 461.3 m€ 17% – 19% EBITDA margin* 26.3%* * Without effects from IFRS 16 25% – 27%* | Revenues range: € 540 – 550m, strong growth of 17% – 19% | EBITDA
Slide 17: Appendix
17 29 MARCH 2019 Appendix EARNINGS CALL FY 2018 / OUTLOOK 2019 Kindergarten, La Fouillouse, France Architects: Novae Architecture, France | Image: Jerome Ricolleau | Realized with Vectorworks
Slide 18: P+L statement Q4 / FY 2018 comparison
P+L statement Q4 / FY 2018 comparison €m Q4 2018 Q4 2017 % YoY 12M 2018 12M 2017 %YoY Revenues 130.4 105.7 +23.3% 461.3 395.6 +16.6% Own work capitalized/other operating income 1.1 1.4 -17.2% 5.5 4.8 +13.1% Operating income 131.5 107.1 +22.8% 466.8 400.4 +16.6% Cost of materials/purchased services -
Slide 19: Balance sheet – Assets
Balance sheet – Assets €m December 31, 2018 December 31, 2017 Assets Cash and cash equivalents 120.7 104.0 Trade receivables, net 55.8 41.0 Inventories 1.2 0.6 Other current assets 24.6 13.5 Current assets, total 202.2 159.1 Property, plant and equipment 17.6 14.9 Intangible assets 102.1 86.9 Goodwi
Slide 20: Balance sheet – Equity and liabilities
Balance sheet – Equity and liabilities €m December, 2018 December 31, 2017 Equity and liabilities Short-term borrowings and current portion of long-term loans 56.3 36.0 Trade payables & accrued liabilities 53.5 43.7 Deferred revenue 95.1 68.1 Other current assets 17.3 18.0 Current liabilities, total
Slide 21: Cash flow statement
Cash flow statement €m December 31, 2018 December 31, 2017 % YoY Cash and cash equivalents at the beginning of the period 104.0 112.5 -7.6% Cash flow from operating activities 99.7 97.4 +2.4% Cash flow from investing activities -74.4 -54.6 +36.3% t/o CapEX -11.3 -8.8 +28.5% t/o Cash paid for busines
Slide 22: 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 23: 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 FY 2018 / Outlook 2019 23