31.07.2024 07:00:18
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EQS-News: Nemetschek Group: Successful First Half of 2024 with Strong Growth in Subscription/SaaS
EQS-News: Nemetschek SE
/ Key word(s): Half Year Report/Quarter Results
Corporate News Nemetschek Group: Successful First Half of 2024 with Strong Growth in Subscription/SaaS
Munich, July 31, 2024 - The Nemetschek Group (ISIN DE 0006452907), a global provider of software solutions for the construction and media industries, confirms its previous guidance for the operational business (i. e. excluding acquisition effects) for the financial year 2024 based on the successful development in the first half of 2024. In addition, Nemetschek further expands the outlook due to the acquisition of GoCanvas (consolidated as of July 1). The business development in the second quarter of 2024 was in line with plans. Growth in subscription and SaaS revenue increased significantly by more than 80%, so that the share of recurring revenues is already exceeding 85% in the first half of the year. "We are very pleased with the development of the first half of the year. In addition, the very high growth momentum in Subscription and SaaS in the second quarter shows that the transition of our business model continues to be very successful,” says Yves Padrines, CEO of the Nemetschek Group. "We are also focusing on our strategic focus areas such as increased internationalization and new technologies as well as the acquisition of GoCanvas, which will contribute to our future growth. With GoCanvas, the largest acquisition in the over 60-years history of our company, we are expanding our portfolio with unique SaaS solutions in Field Management to increase the safety and efficiency on the construction site while simultaneously accelerating our transition to recurring revenues. We expect that the acquisition will generate significant synergies for the Group and especially for our Build segment". Key Group Performance Indicators in Q2 and H1 2024
Strategic Highlights
Segment Developments in Q2 and H1 2024 (see table)
Outlook Financial Year 2024 Following the successful first half of the year, Nemetschek confirms its previous guidance for the operational business (i. e. excluding acquisition effects from GoCanvas) for the financial year 2024. The Executive Board expects that the currency-adjusted, organic revenue growth in 2024 will be in a range of 10% to 11%. The annual recurring revenue (ARR) is forecasted to grow by around 25% while the share of recurring revenue as a percentage of total revenue is expected to increase to around 85% in 2024. The EBITDA margin is forecasted to be between 30% to 31%. Based on the consolidation of GoCanvas as of July 1, 2024, the Executive Board expects an additional positive effect on the forecasted revenue growth of around 3 percentage points for the financial year 2024. The EBITDA margin in 2024 is expected to be diluted by around 100 basis points due to the GoCanvas' profitability, which is still below the Nemetschek Group average. These figures do not yet reflect the full potential of the acquisition, as both the revenue and EBITDA contribution of GoCanvas is reduced by a high single-digit million euro amount in the second half of the year due to the IFRS-related purchase price allocation. The ARR growth is expected to increase from around 25% to more than 30% in 2024. The share of recurring revenue is expected to continue to increase to around 85%. The statements on the effects of the acquisition on the 2024 financial year are subject to the proviso that important key figures, including the calculation of the purchase price allocation (PPA) for GoCanvas, will not be finalized until later in the year. In addition, the guidance is based on the assumption that the global macroeconomic or industry-specific conditions will not deteriorate significantly in 2024. Furthermore, no additional potential negative effects from the current conflict in the Middle East and the ongoing war in Ukraine are reflected in the outlook.
Overview of quarterly key figures (Q2-24)
Overview of quarterly key figures per segment* (Q2-24)
* As at January 1, 2024, the Digital Twin business unit, including the dRofus brand, was reclassified from the Manage segment to the Design segment and subsequently consolidated here. The previous year's figures have been adjusted accordingly.
Overview of half-yearly key figures (H1-24)
Overview of half-yearly key figures per segment* (H1-24)
* As at January 1, 2024, the Digital Twin business unit, including the dRofus brand, was reclassified from the Manage segment to the Design segment and subsequently consolidated here. The previous year's figures have been adjusted accordingly.
For further information about the company, please contact Nemetschek Group About the Nemetschek Group The Nemetschek Group is a globally leading provider of software for digital transformation in the AEC/O and media industries. Its intelligent software solutions cover the entire life cycle of construction and infrastructure projects and allow creatives to optimize their workflows. Customers can plan, construct, and manage buildings and infrastructure more efficiently and sustainably, and develop digital content such as visualizations, films, and computer games in a creative way. The software company drives new technologies and approaches such as artificial intelligence, digital twins, and open standards (OPEN BIM) in the AEC/O industries to increase productivity and sustainability. We are continuously expanding our portfolio, including through investments in disruptive start-ups. More than 7 million users are currently designing the world with the customer-focused solutions of our four segments. Founded by Prof. Georg Nemetschek in 1963, the Nemetschek Group today employs more than 3,700 experts. The company, which has been listed in the MDAX and TecDax since 1999, achieved a revenue of EUR 851.6 million and an EBITDA of EUR 257.7 million in 2023.
31.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Nemetschek SE |
Konrad-Zuse-Platz 1 | |
81829 München | |
Germany | |
Phone: | +49 (0)89 540459-0 |
Fax: | +49 (0)89 540459-444 |
E-mail: | investorrelations@nemetschek.com |
Internet: | www.nemetschek.com |
ISIN: | DE0006452907 |
WKN: | 645290 |
Indices: | MDAX, TecDAX |
Listed: | Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1957241 |
End of News | EQS News Service |
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1957241 31.07.2024 CET/CEST
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