Nemetschek Se · XETR:NEM
Nemetschek — Q4 2022 Earnings Presentation
25 slides from Nemetschek's earnings presentation, Mar 23, 2023
Slide 1: Earnings Call Q4- / FY-22
Earnings Call Q4- / FY-22 Nemetschek Group March 23, 2023
Slide 2: Agenda
Agenda 01 Highlights FY-2022 and Strategic Update 05 Appendix 02 Financial Results Q4- / FY-2022 03 Update Subscription/SaaS Transition 04 Guidance 2023 and Ambition 2024 & 2025 01 Nemetschek Group | Earnings Call Q4- / FY-22
Slide 3: Highlights FY-2022 and Strategic Update
01 Highlights FY-2022 and Strategic Update 02 Nemetschek Group | Earnings Call Q4- / FY-22
Slide 4: Key Messages
1. Record results in FY-2022 with challenging Design markets in Europe and the successful start of Bluebeam’s subscription/SaaS transition 2. Long-term structural growth drivers in our industries remain intact Key 3. We are positioned for growth and continued value creation: our increasing share of
Slide 5: Progress in all Strategic Focus Areas in FY-2022
Progress in all Strategic Focus Areas in FY-2022 Internationalization / Operational Subscription / SaaS Innovation M&A / Venture Investments Excellence Go-to-Market Increase recurring revenues Internationalization: Launch of new Cloud M&A: Harmonization of overhead o Stronger focus on Nort
Slide 6: Financial Results Q4- / FY-2022
02 Financial Results Q4- / FY-2022 05 Nemetschek Group | Earnings Call Q4- / FY-22
Slide 7: Financial Highlights Q4-22: Continued High Growth in Recurring Revenues
Financial Highlights Q4-22: Continued High Growth in Recurring Revenues ARR2 Revenues EBITDA EPS EURm EURm EURm EUR +27.4% +8.0% -9.8% +22.0% cc1 -10.1% +3.9% cc1 -8.6% cc1 581,7 456,5 203,0 187,9 61,7 55,7 0,33 0,29 Q4-21 Q4-22 Q4-21 Q4-22 Q4-21 Q4-22 Q4-21 Q4-22 • Strong increase in ARR shows • Me
Slide 8: Key Financial Highlights FY-22: Continued Growth in a Challenging Environment
Key Financial Highlights FY-22: Continued Growth in a Challenging Environment Revenues: EBITDA: Net Cash Position: +17.7% (FX adj.: +12.1%) to +15.8% (FX adj.: +9.3%) to EUR 124.9m EUR 801.8m EUR 257.0m Recurring Revenues: EBITDA margin: Equity Ratio: +27.8% (FX adj.: +21.7%) to 32.0% 57.5% EUR 532.
Slide 9: Segments FY-2022: Stellar Year in Media, High Growth in Build Despite Transition
Segments FY-2022: Stellar Year in Media, High Growth in Build Despite Transition DESIGN BUILD MEDIA MANAGE Revenues +9.6% +24.1% +48.5% +6.8% EURm +6.0% cc1 +14.6% cc1 +41.2% cc1 +7.1% cc1 391,6 357,3 268,3 216,2 104,7 43,7 46,7 70,5 FY-21 FY-22 FY-21 FY-22 FY-21 FY-22 FY-21 FY-22 Margin 33.7% 32.4%
Slide 10: Recurring Revenues: ARR Indicates Strong Future Growth
Recurring Revenues: ARR Indicates Strong Future Growth Q4-22 FY-22 Revenue Share Revenue Share by type in % of Subscription/SaaS • +27.4% • +27.4% ARR2 y/y • +22.0% cc1 • +22.0% cc1 100% Recurring • +27.4% • +27.8% revenues y/y • +22.0% cc1 • +21.7% cc1 30% 66% 50% (35%) FY-22 (61%) 4% 25% Subscript
Slide 11: At a Glance: Income Statement and Important KPIs
At a Glance: Income Statement and Important KPIs Key Figures mEUR FY-22 In % of revenue FY-21 Growth y/y Revenues 801.8 100% 681.5 +17.7% Cost of goods and services -31.8 4.0% -25.3 +25.5% Personnel expenses -337.2 42.1% -292.0 +15.5% Other operating income/expenses -175.8 21.9% -142.1 +23.7% EBITDA
Slide 12: Update Subscription/SaaS Transition
03 Update Subscription/SaaS Transition 11 Nemetschek Group | Earnings Call Q4- / FY-22
Slide 13: Overview Subscription/SaaS Transition: Phased Across the Segments
Overview Subscription/SaaS Transition: Phased Across the Segments Revenue Split 2022-2025 DESIGN BUILD MANAGE MEDIA Illustrative Future Path 100% 4% 4% 4% 5% 5% Subscription/ Subscription/ Subscription/ Subscription 30% Dual Offering 35% 35% SaaS Strategy SaaS only SaaS only only 47% 41% Status of •
Slide 14: Update: Bluebeam Subscription/SaaS Transition
Update: Bluebeam Subscription/SaaS Transition End Q3-22 Q4-22 Q2 to Q4 2023 End of 2024 • Global launch across all Bluebeam • First full transition quarter • Existing customers: End of option to buy licenses 90%+ of users Websites & Webstores • >10% of users transitioned to new • End of possibility
Slide 15: Guidance 2023 and Ambition 2024 & 2025
04 Guidance 2023 and Ambition 2024 & 2025 14 Nemetschek Group | Earnings Call Q4- / FY-22
Slide 16: Massive Market Opportunity – AEC/O & Media
Massive Market Opportunity – AEC/O & Media AEC/O Software Market Long Term Structural Growth Drivers: • Very low degree of digitalization Planning + Build + • Regulation Design Construct • Efficiency needs (cost & time) TAM • Green buildings & carbon footprint €35bn • Labor shortage • Urbanization t
Slide 17: Resilient Business Model Through Diversification
Resilient Business Model Through Diversification 13% 6% 2% 6% Design • Reduced dependency on a single 26% segment 2022 Build 2017 66% Manage 49% • Media and AEC/O industries with 33% Media different business cycles 10% 7% 20% 28% 31% Germany • Well diversified geographic exposure 2022 Europe (w/o Ge
Slide 18: Guidance 2023 and Ambition 2024 & 2025
Guidance 2023 and Ambition 2024 & 2025 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 Share Recurring growth – Revenue: Revenue: At least EUR 801.8m > 75% Mid-teens EBITDA Margi
Slide 19: Appendix
05 Appendix 18 Nemetschek Group | Earnings Call Q4- / FY-22
Slide 20: Income Statement
Income Statement €m FY 2022 FY 2021 % YoY Revenues 801.8 681.5 +17.7% Other income 12.6 9.8 +27.9% Operating income 814.4 691.3 +17.8% Cost of goods and services -31.8 -25.3 +25.4% Personnel expenses -337.2 -292.0 +15.5% Other expenses -188.4 -152.0 +24.0% Operating expenses -616.2 -519.3 +18.7% EBI
Slide 21: Balance Sheet – Assets
Balance Sheet – Assets €m December 31, 2022 December 31, 2021 Assets Cash and cash equivalents 196.8 157.1 Trade receivables, net 84.5 70.1 Inventories 0.9 0.9 Other current assets 44.9 35.0 Current assets, total 327.1 263.1 Property, plant and equipment 26.6 20.7 Right-of-use assets 69.8 59.2 Intan
Slide 22: Balance Sheet – Equity and Liabilities
Balance Sheet – Equity and Liabilities €m December 31, 2022 December 31, 2021 Equity and liabilities Short-term borrowings and current portion of long-term loans 65.1 93.8 Trade payables & accrued liabilities 86.0 83.0 Deferred revenue 206.9 158.0 Current lease liability 14.9 14.1 Other current liab
Slide 23: Cash Flow Statement
Cash Flow Statement €m FY 2022 FY 2021 % YoY Cash and cash equivalents at the beginning of the period 157.1 139.3 +12.8% Cash flow from operating activities 213.8 214.4 -0.3% Cash flow from investing activities -52.4 -147.6 +64.5% t/o CapEX -19.0 -9.9 t/o Cash paid for acquisition of subsidiaries, n
Slide 24: 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 25: 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