Nemetschek Se · XETR:NEM
Nemetschek — Q3 2023 Earnings Presentation
19 slides from Nemetschek's earnings presentation, Oct 26, 2023
Slide 1: Earnings Call Q3- / 9M-23
Earnings Call Q3- / 9M-23 Nemetschek Group October 26, 2023
Slide 2: Key Messages
1. Q3-23: Strong growth driven by one-time effects in Design and Build with correlating higher profitability. Subscription/SaaS transitions of Bluebeam and Design brands progressing as planned. 2. 9M-23: Successful first nine months of the year with substantial progress made on our journey to a subs
Slide 3: Financial Results Q3-23
01 Financial Results Q3-23 03 Nemetschek Group | Earnings Call Q3-/ 9M-23
Slide 4: Q3-23: Strong Profitable Growth in a Challenging Environment
Q3-23: Strong Profitable Growth in a Challenging Environment ARR Revenues EBITDA EPS EURm EURm EURm EUR +20.6% +8.4% +13.6% +25.4% cc1 +16.1% +12.6% cc1 +20.2% cc1 664.0 550.6 219.8 202.8 71.4 62.9 0.34 0.39 Q3-22 Q3-23 Q3-22 Q3-23 Q3-22 Q3-23 Q3-22 Q3-23 • Strong increase in ARR • Stable demand in
Slide 5: Nemetschek's Executive Team for the Next Phase of Growth
Nemetschek’s Executive Team for the Next Phase of Growth NEMETSCHEK GROUP Yves Padrines Louise Öfverström Group CEO Group CFO César Flores Rodríguez Usman Shuja Marc Nezet Dave McGavran Chief Division Officer Planning & Design I Chief Division Officer Build & Chief Strategy Officer I Chief CEO Maxon
Slide 6: Continued Progress on Strategic Topics
Continued Progress on Strategic Topics Innovation & Technological Leadership Business Model • dTwin market launch: open, data-driven Digital • Subscription/SaaS Transition continues to Twin cloud platform progress in line with plans • Innovative new Releases of major brands (Graphisoft, Allplan, Vec
Slide 7: Key Financial Highlights 9M-23: Strong First Nine Months of the Year
Key Financial Highlights 9M-23: Strong First Nine Months of the Year Revenues: EBITDA: Cash Conversion: +5.5% (FX adj.: +7.1%) to -6.4% (FX adj.: -2.2%) to 99.1% EUR 632.0m EUR 188.5m ARR: EBITDA margin: Net Cash Position: +20.6% (FX adj.: +25.4%) to 29.8% EUR 223.1m EUR 664.0m Subscription/SaaS Rev
Slide 8: Segments 9M-23: Well on Track, Strong Subscription Growth in all Segments
Segments 9M-23: Well on Track, Strong Subscription Growth in all Segments DESIGN BUILD* MEDIA MANAGE* Revenues +9.0% -0.5% +8.5% +5.6% EURm +9.9% cc1 +1.7% cc1 +10.4% cc1 +7.4% cc1 311.9 286.1 202.5 201.5 75.8 82.2 39.9 42.1 9M-22 9M-23 9M-22 9M-23 9M-22 9M-23 9M-22 9M-23 Margin 30.3% 27.5% 40.6% 35
Slide 9: Revenues by Type: Subscription/SaaS driving Recurring Revenue Share to 75%
Revenues by Type: Subscription/SaaS driving Recurring Revenue Share to 75% Q3-23 Comments Revenue Share Revenue Share by type in % of Subscription/SaaS • +20.6% • Indicates strong future ARR2 y/y • +25.4% cc1 growth with EUR 664m 100% Recurring • +20.6% • Continued strong revenues y/y • +25.4% cc1 g
Slide 10: At a Glance: Income Statement and Important KPIs
At a Glance: Income Statement and Important KPIs Key Figures mEUR 9M-23 In % of revenue 9M-22 Growth y/y Revenues 632.0 100% 598.9 +5.5% Cost of goods and services -25.0 3.9% -22.4 +11.4% Personnel expenses -271.2 42.9% -248.5 +9.1% Other operating income/expenses -147.3 23.3% -126.6 +16.4% EBITDA 1
Slide 11: Outlook
02 Outlook 11 Nemetschek Group | Earnings Call Q3-/ 9M-23
Slide 12: Outlook 2023: Increase After the First Nine Month of the Year
Outlook 2023: Increase After the First Nine Month of the Year Guidance 2023 Ambition Old Updated 2024 2025 ARR Growth: ARR Growth: Revenue Growth: Revenue Growth: > 25% > 25% Double digit percentage Significantly above market growth – Share Recurring Share Recurring At least Revenue: Revenue: Mid-te
Slide 13: Appendix
03 Appendix 13 Nemetschek Group | Earnings Call Q3-/ 9M-23
Slide 14: Income Statement
Income Statement €m 9M 2023 9M 2022 % YoY Revenues 632.0 598.9 +5.5% Other income 6.4 13.5 -52.5% Operating income 638.4 612.4 +4.2% Cost of goods and services -25.0 -22.4 +11.4% Personnel expenses -271.2 -248.5 +9.1% Other expenses -153.8 -140.2 +9.7% Operating expenses -449.9 -411.1 +9.4% EBITDA 1
Slide 15: Balance Sheet – Assets
Balance Sheet – Assets €m September 30, 2023 December 31, 2022 Assets Cash and cash equivalents 248.0 196.8 Trade receivables, net 106.5 84.5 Inventories 1.5 0.9 Other current assets 49.9 44.9 Current assets, total 405.8 327.1 Property, plant and equipment 25.2 26.6 Right-of-use assets 64.6 69.8 Int
Slide 16: Balance Sheet – Equity and Liabilities
Balance Sheet – Equity and Liabilities €m September 30, 2023 December 31, 2022 Equity and liabilities Short-term borrowings and current portion of long-term loans 23.5 65.1 Trade payables 12.4 15.7 Provisions and accrued liabilities 68.1 70.3 Deferred revenue 271.5 206.9 Current lease liability 16.9
Slide 17: Cash Flow Statement
Cash Flow Statement €m 9M 2023 9M 2022 % YoY Cash and cash equivalents at the beginning of the period 196.8 157.1 +25.3% Cash flow from operating activities 186.9 173.9 +7.5% Cash flow from investing activities -23.3 -27.7 -15.9% t/o CapEX -8.9 -11.4 t/o Cash paid for acquisition of equity investmen
Slide 18: Shape the World
SHAPE THE WORLD NEMETSCHEK SE Investor Relations Konrad-Zuse-Platz 1 81829 Munich Germany [email protected] www.nemetschek.com NEMETSCHEK SE Konrad-Zuse-Platz 1 | 81829 München | Tel. (089) 540459-0 | www.nemetschek.com
Slide 19: 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