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NEMETSCHEK GROUPCompany Presentation
June 2016
Montforthaus, Feldkirch, AustriaHASCHER JEHLE Architektur, Germany | Images: David Matthiessen | realized with NEVARIS
2
NEMETSCHEK GROUP: In Brief………………………...….……………………………….......3
Strategy…...…………………………………………………………………………………………8
Financials: Q1 2016...….…………………….....………………………………………………...12
NEMETSCHEK Share………..………...……………..……………………………………….....22
Outlook: FY 2016.……………………………………. ………………………………………....25
Appendix…………………………………………………………………….………………...…...27
Contact...………………………..………………………………………………………………….32
JUNE 2016 COMPANY PRESENTATION
Agenda
JUNE 2016 COMPANY PRESENTATION
Our Founder
Mission: „We drive digitalization and innovation for the entire life cycle of the AEC industry!“
Vision: Innovation driver and digital backbone of the AEC industry with strong global brands and customer proximity.
Responsibility: Prof. Nemetschek establishes the Nemetschek charitable foundation, supporting projects in the areas of education, science and research, arts and culture, the environment, international understanding and social projects.
Prof. Georg NemetschekFounder and Member of the Supervisory Board of Nemetschek SE
The Philosophy of Nemetschek
We are a Group of industry leaders with a unique DNA and expertise in the AEC* industry. We stand for best-in-class tools, Open BIM, interoperability and collaboration. All of our strong brands share the same mission:
“We understand the building process as a whole.”
Our motivation is to develop software solutions for better results with respect to aesthetics and function within cost and time constraints.
* Architecture, Engineering, Construction Uni
vers
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JUNE 2016 COMPANY PRESENTATION
History: 50 Years of Innovation and Success
JUNE 2016 COMPANY PRESENTATION
1983Internationalization begins in Austria and Switzerland
1999IPO of Nemetschek. Acquisitions: Maxon, Auer
1980Nemetschek presents the first computer-aided engineering software (CAE)
1968The first use of computers in the construction industry
1984The first CAD solution ALLPLAN 1.0 appears on the market
1998Numerous acquisitions: Frilo, Glaser, Bausoftware, Crem
1997Nemetschek presents the database-driven platform O.P.E.N. – known today as BIM*
2000Acquisition: Vectorworks.Group headquarters move tonew premises at the Munich Fair
2014Acquisition: Bluebeam Software.Investment in the start-upSablono GmbH
2006Graphisoft and Scia become subsidiaries of theNemetschek Group
2013Acquisition: Data Design System
INTERNATIONALIZATION INNOVATION DRIVER
2015Acquisition: Solibri.Sale: Glaser
SPIRIT OF INVENTION
1963Georg Nemetschek, a certified engineer, founds the “engineering firm for the construction industry”
* Building Information Modeling
TODAYGlobally leading software company in Open BIM*and 5D
2016Conversion of Nemetschek AG into an SE
Nemetschek at a Glance
JUNE 2016 COMPANY PRESENTATION
Facts and figures> 50 years of innovation, founded in 1963 and headquartered in Munich, GermanyOpen BIM pioneer and 5D provider with software solutions for the AEC* and media industry 12 strong brands285.3 mEUR sales revenues (2015)2.1 million users in 142 countries1,750 employees worldwide> 50 locations in more than 40 countriesIPO 1999, listed in the TecDax2.0 billion EUR market capitalization
* Architecture, Engineering, Construction
Four segments
Media &Entertainment
Decentralized Strong Brands under One Umbrella
JUNE 2016 COMPANY PRESENTATION
MANAGEBUILDDESIGN
Architecture Engineering Construction
Nemetschek covers the complete value chain in the AEC & Media industry Entrepreneurial brands: Industry leaders with a unique DNA, expertise and customer orientation Attractive set-up for potential targets
Auth
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Strategy
JUNE 2016 COMPANY PRESENTATION
9
WorkflowsDrawings
since 1985
Models
Today Tomorrow
AEC Industry in Transition
COMPANY PRESENTATIONJUNE 2016
Simple exchange of BIM models is now becoming common on projects, but the industry is shifting to advanced model-based workflows. This requires open standards, high quality models, and collaboration support to accommodate all disciplines and technology.
Regional standards are becoming increasingly sophisticated specifying BIM requirements, such as the 2016 UK BIM mandate. Nemetschek brand companies are pioneers in the exchange of data using open standards in a quality process as well as collaborative solutions to connect the design build and manage process together.
10
Nemetschek Strengths
COMPANY PRESENTATIONJUNE 2016
Nemetschek invests heavily in the standards that keep data open and transferable. By sitting on standards bodies and supporting research to keep up with the changing building market, we work to make sure users can use the best tools for their needs.
Open Standards
Open standards are the foundation, but the AEC industry still needs to ensure BIM models have the correct information. Solibri Model Checker is the only complete QA/QC tool that makes sure that the models being exchanged are high enough quality for the design and construction process.
Quality Models
Born in the EU, Nemetschek’s group of strong, independent brands with employees around the world make sure that our solutions meet local standards. Instead of a one size fits all approach we bring solutions tailored to regional needs and use our strengths to partner with the local products you also use.
Thinking Locally
11
BIM 5D
BIM 5D – In Scope, In Time, In Budget
3D - what you see,is what you build
5D - what you see,is how you build
4D - what you see,is when you build
4D Time3D Form 5D Cost
As a BIM pioneer and 5D provider the NEMETSCHEK GROUP stands for an open approach and supports collaboration and seamless data transfer through the complete value chain in the building process
COMPANY PRESENTATIONJUNE 2016
JUNE 2016 COMPANY PRESENTATION
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Financials: Q1 2016
13JUNE 2016 COMPANY PRESENTATION
Nemetschek Group Highlights for Q1 2016 (1)
Dynamic start in Q1 2016 Revenues increased by 16.7% to 77.7 mEUR (previous year: 66.6 mEUR)
Organic growth of high 15.6%
Strong revenue increase abroad
Revenues abroad increased by 20.8% to 53.3 mEURRevenues share outside of Germany at 68.7%, Americas at 23.0%Further focus on global expansion
Double-digit growth in license and recurring revenues
Software licenses showed growth of 17.1%License revenue share of 51.9%Recurring revenues also in growth mode with 16.1%Balanced growth of both pillars secure new customers and high visibility
High profitability EBITDA grew stronger than revenues in the first quarterEBITDA up by 21.0% yoy and increased to 21.0 mEUREBITDA at very high level of 27.0% (previous year: 26.1%)No activation of development costs no effects on expenses and earnings Strategic investments to secure future growth: Internationalization, intensified sales & marketing activities etc.
14
Significant growth in EPS
Net income (group shares) showed strong growth of 31.6% to 11.0 mEUREPS at 0.29 EUR (previous year: 0.22 EUR)Net income w/o PPA increased by 27.5% to 13.0 mEUREPS (w/o PPA) accordingly at 0.34 EUR
Cash and solid balance sheet
Cash and cash equivalents at 97.2 mEURNet liquidity at 21.2 mEUREquity ratio of 44.5% - leeway for further investments / acquisitions
Annual General Meeting
On May 20, 2016 in MunichDividend proposal of 0.50 EUR per share (previous year: 0.40 EUR per share)Dividend increase of 25% yoyTotal amount to be distributed of 19.25 mEUR
New Executive Board structure
Announcement of the appointment of Sean Flaherty as Chief Strategy Officer in a full-time positionFocus on Group-wide future strategy, globalization and development of advanced technology in the target marketsEB will intensify and accelerate the growth – both organic and via M&A
Outlook confirmed Q1 as a strong basis for the fiscal year 2016Revenue target range of 319-325 mEUR, up by +12%-14% (thereof organic: +11%-13%)EBITDA target range of 77-80 mEUR
Nemetschek Group Highlights for Q1 2016 (2)
JUNE 2016 COMPANY PRESENTATION
Revenues: Excellent start in the fiscal year 2016
JUNE 2016 COMPANY PRESENTATION
66,6
68,6
70,7
79,377,7
+16.7%
Revenues in mEUR
Q1 2016 revenues increased strongly by 16.7% to 77.7 mEURSolibri contributed revenues of around 1 mEUROrganic growth of high 15.6% yoy
Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016
International growth accelerated
JUNE 2016 COMPANY PRESENTATION
Germany31%
Europe w/oGermany
37%
Americas23%
Asia/Pacific8%
RoW1%
Strong growth of 20.8% abroad Growth markets: - Americas- Asia- NordicsFurther growth potential abroad
Revenues split Q1 2016 in %
Software licenses and recurring revenues shows double-digit growth
JUNE 2016 COMPANY PRESENTATION
Software licenserevenues
51,9%
Recurringrevenues*
42,8%
Consulting &Hardware
5,3%
Software license revenuesUp by 17.1% to 40.3 mEURNew customers winsIncreasing customer baseConsequently recurring revenues will follow
Recurring revenues*Up by 16.1% to 33.3 mEURIncreasing visibility
Revenues split Q1 2016 in %
* Software services, subscripton
EBITDA increased stronger than revenues
JUNE 2016 COMPANY PRESENTATION
17,4
15,216,8
20,121,0
+21.0%
in mEUR
EBITDAEBITDA up by 21.0% to 21.0 mEUREBITDA margin improved to 27.0%
Further investments inInternationalizationNew customer segmentsSales & marketing
Change
Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016
Margin +26.1% +22.2% +23.8% +25.3% +27.0%
Net income and EPS with significant growth of 31.6% yoy
JUNE 2016 COMPANY PRESENTATION
8,4
10,211,0
13,0
+31.6%
Net income Net income w/o PPAin mEUR in mEUR
Change
Q1 2015 Q1 2016 Q1 2015 Q1 2016
+27.5%
0,220,26
0,290,34
+31.6%
EPS EPS w/o PPAin EUR in EUR
Q1 2015 Q1 2016 Q1 2015 Q1 2016
+27.5%
Segment overview
JUNE 2016 COMPANY PRESENTATION
20,0
13,8
1,3
5,3
30,0
19,5
1,5
5,2
Revenuesin mEUR
EBITDAMargin
Change
DesignDesign segment showed again double-digit growth EBITDA margin increased to 26.1%Further strategic investments to secure future growth (sales, internationalization)Growth in all main focus regions
BuildVery strong revenue growth of 41.2%Inorganic effect of Solibri with 1 mEUR revenuesOrganic growth of 34% LFLBluebeam showed over proportional growth (new release of Revu 2016)
ManageContinued revenue growth with +13.0%Significant improvement of the EBITDA marginiXHaus with new customer wins: Potsdamer Platz in Berlin
Media & EntertainmentFlat development yoyStrong previous year with one-time effect Investments in new customer segments etc. have impact on margins
Q1 2015 Q1 2016 Q1 2015 Q1 2016 Q1 2015 Q1 2016 Q1 2015 Q1 2016
25.1% 26.1% 21.8% 25.6% 9.8% 13.7% 49.7% 45.1%
+11.6% +41.2% +13.0% -1.6%
46,151,4
Cash flow situation
JUNE 2016 COMPANY PRESENTATION
in mEUR
EBITDA+21.0% yoy
Operating cash flow+7.2% to 21.3 mEUR
Investing cash flowCapex of 1.9 mEURPrevious year: Investment in distribution partner
Cash flow from financing activitiesRepayment of bank loan (-4.6 mEUR)
Net liquidity situationLeeway to grow organically and via acquisitions
Conversion rate** Strong conversion rate of 102% (previous year: 115%)
3,3
-4,8
-2,6
19,9
17,4
21,2
-4,8
-1,8
21,3
21,0EBITDA
Operating cash flow
Investing cash flow
Cash flow from financing activities
Net liquidity
Q1 2016Q1 2015
** Operating cash flow / EBITDA
*
* End of FY 2015
22
NEMETSCHEK SharesNEMETSCHEK Shares
Visualization of the planned Santiago Bemabéu Stadium,Madrid, SpainArchitects: gmp, Hamburg, Germany
23
Founded: in 1963IPO: March 10, 1999Number of shares: 38,500,000Frankfurt Stock Exchange, Prime StandardBloomberg: NEM GY, Reuters: NEKG.DEShares Nemetschek family: 53.57%Freefloat: 46.43 percentCurrent MarketCap: ~ 2.0 billion EURCurrent TecDAX Ranking: 14/21
Shares of Nemetschek family pooled: secures stable shareholder structure for well-being of NEMETSCHEK GROUP in the future
Prof. Georg Nemetschek
5,2%
Nemetschek Vermögensverwaltungs
GmbH & Co. KG48,4%
Free float46,4%
Stable Shareholder Structure
COMPANY PRESENTATIONJUNE 2016
24
Share Price Increased Stronger than TecDAX and DAX
COMPANY PRESENTATIONJUNE 2016
Time Nemetschek TecDAX Dax
Year 2013 +52% +38% +23%
Year 2014 +66% +18% +3%
Year 2015 +120% +34% +10%
YTD 2016 +17% -5% +/-0%
32
35
38
41
44
47
50
53
01.2016 02.2016 03.2016 04.2016 05.2016 06.2016Nemetschek TecDAX DAX
JUNE 2016 COMPANY PRESENTATION
Outlook: FY 2016.
Mar
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Net
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CIA
Ralph Rieger, visualservices, Hamburg
Outlook: FY 2016
Optimistic outlook 2016 confirmed
JUNE 2016 COMPANY PRESENTATION
Current situation
Market conditions
Strong basis due to the excellent Q1 figures
Robust development of construction marketsAdditional growth coming from trends such as Open BIM, 5D, collaboration, platform technologies, mobile solutions etc. Regulations regarding BIM standards
Strategic market positioning
Clear focus on AEC marketLeading in Open BIM solutionsStrong and independent global brands
Growth potential/ Investments
Focus on internationalization (North/Latin America, Asia, Europe)Investments in new markets, customer segments, sales & marketing Strategically co-operations & acquisitionsHealthy balance sheetCapable of investing in organic and in inorganic growth
in mEUR FY 2015 Forecast 2016* Organic
Revenues 285.3 319 - 325 (+12%-14%) +11%-13%
EBITDA 69.5 77 - 80 -
* USD/EUR plan rate: 1.11
Appendix
Barc
o‘s
„One
Cam
pus“
, Kor
trijk
, Bel
gium
Esta
blis
| re
aliz
ed w
ith S
CIA
JUNE 2016 COMPANY PRESENTATION
28
P+L statement Q1 comparison
mEUR Q1 2016 Q1 2015 % YoY
Revenues 77.7 66.6 +16.7%
Own work capitalized/ other operating income 1.2 2.2 -47.7%
Operating income 78.8 68.8 +14.6%
Cost of materials/ purchased services -2.4 -2.0 +19.2%
Personnel expenses -35.0 -30.0 +16.7%
Other operating expenses -20.5 -19.4 +5.3%
Operating costs -57.9 -51.4 +12.5%
EBITDA 21.0 17.4 +21.0%
Margin 27.0% 26.1%
Depreciation of PPA and amortization -4.4 -4.1 +6.9%
t/o PPA -2.7 -2.5 +6.0%
EBITA (normalized EBIT) 19.3 15.8 +22.3%
EBIT 16.6 13.2 +25.4%
Financial result -0.2 0.0
EBT 16.4 13.3 +23.4%
Income taxes -4.8 -4.4 +9.0%
Non-controlling interests -0.5 -0.5
Net income (group shares) 11.0 8.4 +31.6%
EPS in EUR 0.29 0.22* +31.6%
* for better comparability, earnings per share has been presented after the stock split
JUNE 2016 COMPANY PRESENTATION
29
Balance sheet - Assets
mEUR March 31, 2016 December 31, 2015
Assets
Cash and cash equivalents 97.2 84.0
Trade receivables, net 33.2 29.6
Inventories 0.5 0.5
Other current assets 13.3 11.8
Current assets, total 144.3 125.9
Property, plant and equipment 13.9 13.8
Intangible assets 95.6 100.8
Goodwill 132.3 134.9
Other non-current assets 4.4 4.1
Non-current assets, total 246.3 253.6
Total assets 390.5 379.5
JUNE 2016 COMPANY PRESENTATION
30
Balance sheet – Equity and liabilities
mEUR March 31, 2016 December 31, 2015
Equity and liabilities
Short-term borrowings and current portion of long-term loans 18.6 18.6
Trade payables & accrued liabilities 24.8 32.2
Deferred revenue 56.6 42.0
Other current assets 15.7 11.4
Current liabilities, total 115.7 104.1
Long-term borrowings without current portion 57.5 62.1
Deferred tax liabilities 23.4 24.3
Other non-current liabilities 20.2 22.1
Non-current liabilities, total 101.0 108.5
Subscribed capital and capital reserve 51.0 51.0
Retained earnings 127.3 116.3
Other comprehensive income -7.0 -2.5
Non-controlling interests 2.5 2.1
Equity, total 173.8 166.9
Total equity and liabilities 390.5 379.5
JUNE 2016 COMPANY PRESENTATION
31
Cash flow statement
mEUR March 31, 2016 March 31, 2015 % YoY
Cash and cash equivalents at the beginning of the period 84.0 57.0 +47.4%
Cash flow from operating activities 21.3 19.9 +7.2%
Cash flow from investing activities -1.8 -2.6 -30.4%
t/o CapEX -1.9 -1.1 +70.7%
t/o Cash paid for business combinations 0.0 -1.4
Cash flow from financing activities -4.8 -4.8 +0,7%
t/o Repayment of borrowings -4.6 -3.0
FX-effects -1.5 4.0
Cash and cash equivalents at the end of the period 97.2 73.5 +32.3%
Free cash flow(1) 19.5 17.3 +12.8%
(1) Operating cash flow - Investing cash flow
JUNE 2016 COMPANY PRESENTATION
32
Contact
NEMETSCHEK SEInvestor RelationsKonrad-Zuse-Platz 1D-81829 [email protected]
DisclaimerThis presentation contains forward-looking statements based on the beliefs of Nemetschek SE management. Suchstatements reflect current views of Nemetschek SE with respect to future events and results and are subject to risksand uncertainties. Actual results may vary materially from those projected here, due to factors including changes ingeneral economic and business conditions, changes in currency exchange, the introduction of competing products,lack of market acceptance of new products, services or technologies and changes in business strategy. NemetschekSE does not intend or assume any obligation to update these forward-looking statements.
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