Nemetschek SE · XETR:NEM
Nemetschek — Q1 2018 Earnings Presentation
16 slides from Nemetschek's earnings presentation, Apr 27, 2018
Slide 1: Nemetschek Group Financial Results Q1 2018
Nemetschek Group Financial Results Q1 2018 April 27, 2018
Slide 2: Top key figures Q1 2018: High profitability and revenue growth according to plan
Top key figures Q1 2018: High profitability and revenue growth according to plan Revenues Recurring revenues EBITDA EPS €m €m €m € 102,2 96,3 +13.1% cc1 +6.2% 50,6 +22.4% cc1 43,8 +15.6% 0,43 0,37 +15.2% 26,3 +13.3% cc1 27,9 +5.9% Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 ▌ Str
Slide 3: Growth driver recurring revenues: Smooth transition towards subscription
Growth driver recurring revenues: Smooth transition towards subscription Revenue split Q1 2018 4,3% Recurring revenues yoy ▌ Above average growth to €50.6m (previous (4.2%)2 year: €43.8m) +22.4% cc1 +15.6% 49,5% Subscription yoy ▌ High growth to €4.3m (previous year: €3.2m (45.4%)2 46,2% +47.3% cc1
Slide 4: Internationalization is key: USA strongest growing market
Internationalization is key: USA strongest growing market, other regions according to plan Revenue split Q1 2018 Americas Asia 8% (9%)2 +26% cc1 +11% cc1 30% +10% +1% (30%)2 28% Europe UK (27%)2 +9% cc1 +26% cc1 +7% +22% Germany 34% (34%)2 +6% Germany Europe (w/o Germany) Americas Asia/Pacific 1 Con
Slide 5: Segment overview: Build segment is key growth driver
Segment overview: Build segment is key growth driver Revenues in €m Media & Design Build Manage Entertainment 60,7 62,8 +8.2% cc1 +3.5% 31,6 27,9 +26.6% cc1 +13.1% 5,9 +5.3% cc1 5,8 -1.3% 1,8 2,0 +12.2% Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 EBITDA Margin 28.3% 24.2% 22.6% 3
Slide 6: High cash generation: Cash conversion of more than 90%
High cash generation: Cash conversion of more than 90% allows for strategic M&A 95.2% High cash conversion rate1 Change in €m 27,9 EBITDA +5.9% 26,3 Operating 26,6 cash flow +19.6% 22,2 Cash flow from -1,9 investing activities - -25,9 Cash flow from -6,7 financing activities -2.8% -6,9 47,4 +97.6% N
Slide 7: Q1 highlights: Driving key strategic projects
Q1 highlights: Driving key strategic projects Internationalization Next-generation Operational excellence products & solutions Entering new markets / Partnerships Cross-brand highlights / Increase efficiency ▌ dRofus adds first US based reseller partner Interoperability ▌ Implementation of groupwide
Slide 8: Outlook 2018 confirmed: Q1 figures according to plan
Outlook 2018 confirmed: Q1 figures according to plan to reach 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 €10 m
Slide 9: Now it's your turn. Q&A
Now it’s your turn. Q&A APRIL 2018 FINANCIAL RESULTS Q1 2018 9
Slide 10: Financial Calendar
Financial Calendar May 30, 2018 AGM in Munich July 27, 2018 Publication of 6-month report 2nd half of 2018 Capital market day October 30, 2018 Publication of 9-month report APRIL 2018 FINANCIAL RESULTS Q1 2018 10
Slide 11: Appendix
Appendix APRIL 2018 FINANCIAL RESULTS Q1 2018 11
Slide 12: P+L statement Q1 2018 comparison
P+L statement Q1 2018 comparison €m Q1 2018 Q1 2017 % YoY Revenues 102.2 96.3 +6.2% Own work capitalized/other operating income 1.0 1.0 -3.7% Operating income 103.2 97.3 +6.1% Cost of materials/purchased services -3.3 -2.7 +18.9% Personnel expenses -45.1 -43.4 +4.0% Other operating expenses -26.9 -2
Slide 13: Balance sheet – Assets
Balance sheet – Assets €m March 31, 2018 December 31, 2017 Assets Cash and cash equivalents 120.9 104.0 Trade receivables, net 44.6 41.0 Inventories 0.5 0.6 Other current assets 19.0 13.5 Current assets, total 184.9 159.1 Property, plant and equipment 14.7 14.9 Intangible assets 81.8 86.9 Goodwill 1
Slide 14: Balance sheet – Equity and liabilities
Balance sheet – Equity and liabilities €m March 31, 2018 December 31, 2017 Equity and liabilities Short-term borrowings and current portion of long-term loans 36.0 36.0 Trade payables & accrued liabilities 36.6 43.7 Deferred revenue 87.3 68.1 Other current assets 20.9 18.0 Current liabilities, total
Slide 15: Cash flow statement
Cash flow statement €m March 31, 2018 March 31, 2017 % YoY Cash and cash equivalents at the beginning of the period 104.0 112.5 -7.6% Cash flow from operating activities 26.6 22.2 +19.6% Cash flow from investing activities -1.9 -25.9 -92.8% t/o CapEX -1.9 -1.2 +57.0% t/o Cash paid for business combi
Slide 16: 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