Nemetschek SE · XETR:NEM
Nemetschek — Q2 2018 Earnings Presentation
17 slides from Nemetschek's earnings presentation, Jul 27, 2018
Slide 1: Financial Highlights Second Quarter / Half Year 2018
Nemetschek Group Financial Highlights Second Quarter / Half Year 2018 July 27, 2018
Slide 2: Top key figures Q2 2018: Accelerated growth with high profitability
Top key figures Q2 2018: Accelerated growth with high profitability Revenues Recurring revenues EBITDA EPS €m €m €m € 113,8 +21.2% cc1 53,6 97,7 +16.5% 44,9 +23.6% cc1 +19.3% 0,47 31,1 0,35 +34.2% 25,3 +22.0% cc1 +22.6% Q2 2017 Q2 2018 Q2 2017 Q2 2018 Q2 2017 Q2 2018 Q2 2017 Q2 2018 ▌ Growth acceler
Slide 3: Top key figures H1 2018: On the way to achieving the guidance for 2018
Top key figures H1 2018: On the way to achieving the guidance for 2018 Revenues Recurring revenues EBITDA EPS €m €m €m € 216,0 194,0 +17.2% cc1 +11.4% 104,1 +23.0% cc1 88,7 +17.4% 0,90 59,0 0,72 51,7 +17.6% cc1 +24.5% +14.1% H1 2017 H1 2018 H1 2017 H1 2018 H1 2017 H1 2018 H1 2017 H1 2018 ▌ Double-di
Slide 4: Growth driver recurring revenues: Smooth transition towards subscription
Growth driver recurring revenues: Smooth transition towards subscription Revenue split H1 2018 Q2 2018 H1 2018 H1 2018 comments Recurring revenues yoy Recurring revenues yoy ▌ Above average growth to 3,9% (4.3%)2 +23.6% cc1 +23.0% cc1 €104.1m (previous year: €88.7m) +19.3% +17.4% Subscription yoy Su
Slide 5: Internationalization is key: Growth accelerated in Q2 in all regions
Internationalization is key: Growth accelerated in Q2 in all regions Revenue split H1 2018 Q2 2018 H1 2018 Germany Germany 9% +9% (9%)2 +11% 29% (30%)2 UK UK +41% cc1 +31% cc1 30% +33% +28% (29%)2 Europe Europe +15% cc1 +11% cc1 +13% +9% 32% Americas Americas (32%)2 Germany +32% cc1 +29% cc1 +21% +1
Slide 6: Segment overview: Build segment is key growth driver
Segment overview: Build segment is key growth driver Revenues in €m Media & Design Build Manage Entertainment 67,4 60,2 +15.1% cc1 +12.1% 37,4 29,2 +37.1% cc1 +28.2% 6,4 6,9 +12.0% cc1 2,0 2,1 +7.5% +6.5% Q2 2017 Q2 2018 Q2 2017 Q2 2018 Q2 2017 Q2 2018 Q2 2017 Q2 2018 EBITDA Margin 26.5% 25.2% 22.3%
Slide 7: Net liquidity situation allows for strategic M&A
Net liquidity situation allows for strategic M&A 73.5% High cash conversion rate1 Change in €m 59,0 EBITDA +14.1% 51,7 Operating 43,4 cash flow -2.5% 44,5 Cash flow from -8,2 investing activities -28,7 Cash flow from -54,0 financing activities -39,9 28,3 +17.9% Net liquidity2 24,0 ▌ H1 2017 ▌ H1 201
Slide 8: H1 highlights: Driving key strategic projects
H1 highlights: Driving key strategic projects Internationalization Next-generation Operational excellence products & solutions Entering new markets / Partnerships Acquisition (Brand-level) Increase efficiency ▌ Allplan opened up new office in West Chester, ▌ Bluebeam acquires project Atlas’ groundbr
Slide 9: Outlook 2018 confirmed: on track to reaching full-year guidance
Outlook 2018 confirmed: H1 figures show we are on track to reaching full-year guidance Goal Outlook 2020 Result 2018 > 600m€ 2017 Revenues 447 – 457 m€ 1 1 396m€ EBITDA margin 25%–27% ▌ Revenues: double-digit growth rate ▌ EBITDA margin: on sustainable level of 25%-27% ▌ Investments 2018: additional
Slide 10: Financial Calendar
Financial Calendar Berenberg & Goldman Sachs German September 24, 2018 Corporate Conference, Munich Baader Investment Conference, September 25, 2018 Munich October 30, 2018 Publication of 9-month report November 13, 2018 Capital market day Morgan Stanley TMT Conference, November 15, 2018 Barcelona N
Slide 11: Now it's your turn. Q&A
Now it’s your turn. Q&A JULY 2018 FINANCIAL HIGHLIGHTS SECOND QUARTER / HALF YEAR 2018 11
Slide 12: Appendix
Appendix JULY 2018 FINANCIAL HIGHLIGHTS SECOND QUARTER / HALF YEAR 2018 12
Slide 13: P+L statement Q2 2018 comparison
P+L statement Q2 2018 comparison €m Q2 2018 Q2 2017 % YoY H1 2018 H1 2017 %YoY Revenues 113.8 97.7 +16.5% 216.0 194.0 +11.4% Own work capitalized/other operating income 2.2 1.1 +90.9% 3.1 2.1 +47.1% Operating income 116.0 98.8 +17.4% 219.2 196.1 +11.8% Cost of materials/purchased services -3.4 -3.5
Slide 14: Balance sheet – Assets
Balance sheet – Assets €m June 30, 2018 December 31, 2017 Assets Cash and cash equivalents 85.3 104.0 Trade receivables, net 53.3 41.0 Inventories 0.6 0.6 Other current assets 21.0 13.5 Current assets, total 160.1 159.1 Property, plant and equipment 15.9 14.9 Intangible assets 81.3 86.9 Goodwill 198
Slide 15: Balance sheet – Equity and liabilities
Balance sheet – Equity and liabilities €m June 30, 2018 December 31, 2017 Equity and liabilities Short-term borrowings and current portion of long-term loans 26.0 36.0 Trade payables & accrued liabilities 40.3 43.7 Deferred revenue 91.3 68.1 Other current assets 18.0 18.0 Current liabilities, total
Slide 16: Cash flow statement
Cash flow statement €m June 30, 2018 June 30, 2017 % YoY Cash and cash equivalents at the beginning of the period 104.0 112.5 -7.6% Cash flow from operating activities 43.4 44.5 -2.5% Cash flow from investing activities -8.2 -28.7 -71.3% t/o CapEX -5.2 -4.0 +28.3% t/o Cash paid for business combinat
Slide 17: Contact
Contact NEMETSCHEK SE Disclaimer Investor Relations Konrad-Zuse-Platz 1 This presentation contains forward-looking statements based on the beliefs of Nemetschek SE management. Such statements reflects current views of Nemetschek SE with respect to future events and results and are subject to risks a