DGAP-News: Nemetschek AG: Nemetschek achieves record result
(firmenpresse) - DGAP-News: Nemetschek AG / Key word(s): Preliminary Results
Nemetschek AG: Nemetschek achieves record result
17.02.2011 / 07:00
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Corporate News
Nemetschek achieves record result
Revenues up by 10 percent according to preliminary figures / EBITDA margin
of 25 percent / earnings per share of almost 2 euros
Munich, February 17, 2011- Nemetschek AG (ISIN 0006452907), Europe's
largest vendor of software for architecture and the building industry,
increased revenues by 10 percent to 150 million euros in 2010, thus
achieving the same revenue level as 2008 again. The operating result
(EBITDA) increased to a record high: according to preliminary figures, the
operating result amounts 37 million euros, an increase of 22 percent over
the previous year. The EBITDA margin was 25 percent. The group thus
exceeded its record result, which was set in 2007 (EBITDA of 34 million
euros). Net income (group shares) rose by 55 percent to 19 million euros
while the cash flow from operating activities increased by 37 percent to
more than 32 million euros.
Significant increase in revenues from license sales and maintenance
contracts
In 2010 the group largely managed to make up for the slump in license sales
in the crisis year 2009. The revenues from license sales increased by 16
percent to 75 million euros. The revenues from long-term maintenance
contracts have been increasing constantly for years and at an increasingly
dynamic pace: in 2010 they increased by a total of 8 percent to 67 million
euros. The group's foreign markets recovered above all in the past fiscal
year: with a 15 percent increase in revenues to 89 million euros. Revenues
in Germany rose by 5 percent to 61 million euros.
The Nemetschek Group managed to grow above all in the Design and Multimedia
business units. In the Design unit, revenues increased by 11 percent to 122
million euros, the EBITDA margin in this segment was 22 percent, up from 20
percent in the previous year. In the Multimedia business unit, the revenues
even increased by 37 percent to 11 million euros and, at 38 percent, the
margin was at a record level (previous year: 29 percent). In the Build
segment, revenues remained largely stable at 14 million euros and with a
steady, high EBITDA margin of 39 percent. In the Manage business unit,
revenues remained almost stable with roughly 4 million euros, the EBITDA
margin was 9 percent (previous year: 17 percent).
Earnings per share up by more than 50 percent
As a result of the considerable growth coupled with a fundamentally stable
cost structure, the Nemetschek group achieved an EBITDA of 37 million euros
in 2010 (previous year: 30 million euros). At 118 million euros the
operating costs were up by 9 percent from the previous year. However, this
was largely attributable to revenue-dependent cost items such as dealer
commissions and bonuses as well as higher expenses for the market launch of
new product versions. Besides there were higher costs for external
personnel due to the company-wide implementation of a new ERP-System. At
1,076 (previous year: 1,064) the workforce remained largely unchanged.
According to the preliminary figures, the operating profit (EBIT) increased
by 32 percent to 28 million euros. At 19 million euros, the net income
(group shares) increased disproportionately by 55 percent. This includes a
one-off effect of 1.6 million euros as partof an investment reduction. The
earnings per share (group shares, basic) are 1.96 euros, up from 1.27 euros
in the previous year.
The strong operating result is also reflected in the cash flow: the cash
flow from operating activities increased year-on-year by 37 percent to 32
million euros. The cash flow from investment activities was -4 million
euros. The free cash flow thus amounted to more than 28 million euros.
Compared to December 31, 2009, cash and cash equivalents increased by 34
percent to 31 million euros and exceeded the remaining loans from the
Graphisoft acquisition (20 million euros) by 11 million euros. The
Nemetschek group has an equity ratio of 56 percent (December 31, 2009: 50
percent).
The complete annual report 2010 will be presented on March 28, 2011.
Significant growth planned in 2011
After spending 2010 successfully making up for the ground lost in 2009,
Nemetschek plans to grow significantly in the current fiscal year: organic
revenue growth of around 10 percent resulting in overall revenues of around
165 million euros is planned.
'To achieve our ambitious growth targets we have to invest in our product
and service offerings as well as in our market presence,' emphasized Ernst
Homolka, CEO, Nemetschek AG. Nemetschek wants to drive forward with its
internationalization activities in 2011; among other things, the company
plans to establish a wholly-owned subsidiary in Brazil. In 2010, the group
invested almost 24 percent of its revenues in research and development;
furthermore, both the group's subsidiary companies and the Nemetschek
holding company have planned additional investments in 2011 to make the
software solutions web-capable and to be able to offer new services over
the Internet in the future.
'We will consistently harness new growth opportunities that arise as a
result of the general trend toward cloud computing,' explained Homolka. In
some areas this includes a moderate expansion of the work force.
Against this background, Nemetschek will achieve an operating result
(EBITDA) of around 37 to 39 million euros in 2011 as a whole, which would
correspond to an EBITDA margin of around 23 percent. After depreciation and
amortization (including PPA) of around 10 million euros the EBIT will
amount to between 27 and 29 million euros.
Nemetschek is known for the fact that the strong operating result is also
reflected in the operating cash flow. Thus, in the current fiscal year, the
company will succeed in almost completely repaying the loan taken to
finance the acquisition of Graphisoft. The interest charges will be reduced
further as a result. For 2011, the management expects to achieve net income
of around 19 to 21 million euros.
About Nemetschek
The Nemetschek Group is Europe's leading vendor of software for
architecture and construction. The graphical, analytical and commercial
solutions cover a large part of the entire value chain in construction -
from the planning and visualization of a building and the construction
process itself through to building management. The software programs range
from CAD solutions for architects and engineers to construction software
for cost planning, tenders, awarding of contracts and execution. These are
complemented by solutions for facility and real estate management as well
as visualization software for architects and the movie industry.
The company was founded in 1963 and employs over 1.000 people worldwide.
Its products are used by more than 300,000 customers in 142 countries
worldwide. In 2010, Nemetschek achieved revenues of 150 million euros and
an operating result (EBITDA) of 37 million euros.
In case of queries, please contact:
Nemetschek AG
Head of Investor Relations
Regine Petzsch
Konrad-Zuse-Platz 1
81829 Munich
Germany
Phone: +49 89 92793-1219
Fax: +49 89 92793-5404
End of Corporate News
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Language: English
Company: Nemetschek AG
Konrad-Zuse-Platz 1
81829 München
Deutschland
Phone: +49 (0)89 92 793-0
Fax: +49 (0)89 927 93-5200
E-mail: investorrelations(at)nemetschek.com
Internet: www.nemetschek.com
ISIN: DE0006452907
WKN: 645290
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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112454 17.02.2011
Datum: 17.02.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 33228
Anzahl Zeichen: 0
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Kategorie:
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