Nemetschek Se · XETR:NEM
Nemetschek — Investor Presentation (September 2013)
40 slides from Nemetschek's investor presentation, September 2013
Slide 1: Company Presentation Nemetschek Group
Company Presentation Nemetschek Group September 2013
Slide 2: Agenda
Agenda Nemetschek Group: In brief Strategy Financial data Nemetschek share Why invest? 2
Slide 3: Where we come from
Where we come from Start Company foundation: 50 years ago by Prof. Georg Nemetschek Innovation: Computer Aided Design (CAD) software replaced drawing board Today Solutions, innovations and BIM for the AEC sector 40 locations around the world 11 strong brands > 300,000 customers In 142 countries FY 2
Slide 4: What makes us so special
What makes us so special Design Build Manage Multimedia Brands Revenues* 141.8 mEUR 14.3 mEUR 4.2 mEUR 14.8 mEUR Growth 6.9% 4.2% 13.2% 6.2% EBITDA 28.8 mEUR 5.3 mEUR 0.5 mEUR 6.1 mEUR Margin 20.3% 36.7% 12.4% 41.5% Nemetschek is the only listed company covering the complete value chain in AEC and m
Slide 5: What we want
What we want Our Vision Inspire a better built environment through a highly collaborative AEC community Providing leading software solutions for the AEC industry. The expectation never has been, and nor will it be, anything less Our Mission We provide all stakeholders for entire building life cycle
Slide 6: Agenda
Agenda Nemetschek Group: In brief Strategy Internationalization Industry mega trends Innovations Financial data Nemetschek share Why invest? 6
Slide 7: 3 pillars for future growth
3 pillars for future growth Market leadership for Open BIM solutions in AEC 1 2 3 Internationalization Industry mega trends Innovations The Americas BIM Data management Asia Web Usability Northern Europe Cloud Content Eastern Europe Big data Apps Collaboration Processes
Slide 8: Internationalization: Today
1 Internationalization: Today 60% of revenues outside of Germany Stable business in DACH region as a solid base Market position in Asia and the Americas established Germany 40% Europe (w/o Germany) 69% International 60% Asia 14% Americas 17% 2012 Market leader in core markets DACH Growth potential a
Slide 9: Internationalization: Regions on the agenda
1 Internationalization: Regions on the agenda Strengthening our position in the Americas, Asia, Northern and Eastern Europe Markets with strong growth prospects and increasing demand Leverage via co-operations, acquisitions and early-stage occupation 9
Slide 10: Mega trends: BIM in detail
2 Mega trends: BIM in detail Where it is all going? BIM – Building Information Modeling Building Information Modeling Central topic in the entire lifecycle of the building process is today the so-called BIM Pioneer of the BIM idea Nemetschek has followed this holistic philosophy for almost 30 years,
Slide 11: Mega trends: Clear focus on BIM
2 Mega trends: Clear focus on BIM BIM universal approach to collaborative design, realization and operation of buildings Architect Architect Civil Structural Civil Structural Engineer Engineer Engineer Engineer Single Shared Facilities Manager HVAC Engineer BIM Facilities Manager Building Building M
Slide 12: Mega trends: Why Open BIM?
2 Mega trends: Why Open BIM? Creates globalized, inter- + Sets new standards in the disciplinary collaboration + building process Secures data access at NEMETSCHEK + Improves workflows, offers anytime, anywhere + new applications (apps etc.) Ensures efficient and + Provides centralized error-free da
Slide 13: Innovations: Example
3 Innovations: Example We are open! * Any model, any app * Users = AEC professionals, Cloud-based bim+ Open Devices owners, builders, facility managers, server as an open furnishers… ecosystem 11th brand connecting all brands Open Apps Open Models Explorer, Connect, Teamworks, VuFramePro… Architectu
Slide 14: Innovations: Example
3 Innovations: Example IFC, SketchUp, Allplan, Scia, Vectorworks, Graphisoft, Revit … The simplest way to store, share, visualize and connect building information Version 1.0 will start now 14
Slide 15: Innovations: Example Cineware by Maxon
3 Innovations: Example Cineware by Maxon In new dimensions! Red Bull Media House visualized by Cinema 4D Leading developer of 3D software for the creative industries Top customers: BMW, CNN, Sony Pictures, Disney, Vitra, many more Well known for powerful features, rock-solid stability, ease-of-use a
Slide 16: Innovations: Example Cineware by Maxon
3 Innovations: Example Cineware by Maxon Strategic partnership since March 2013 Marketing and development cooperation 1st product: CINEWARE – Live 3D-Pipeline between After Effects and CINEMA 4D Reducing file import and export by 90% – huge time savings Mega brand Adobe has chosen Maxon as exclusive
Slide 17: Agenda
Agenda Nemetschek Group: In brief Strategy Financial data Nemetschek share Why to invest? 17
Slide 18: Group P+L: H1 profitability in line with expectations
Group P+L: H1 profitability in line with expectations H1 Revenues increased by 5% Revenues from maintenance with over-proportional growth of 9% EBITDA well above previous year (+12%) due to high cost awareness Net income increased to 10.0 mEUR (+21%) EPS 1.04 EUR EPS (without PPA) 1.37 EUR mEUR H1 2
Slide 19: Net cash development
Net cash development Operating cash flow increased by 13% to 19.1 mEUR CapEx 2.5 mEUR in line with forecast (~6 mEUR in FY 2013) Dividend payment 11.1 mEUR in Q2 Cash position 48.7 mEUR (+10% YTD) Financial debt fully repaid H1 H1 % mEUR 16,6 -11,1 -1,1 2012 2013 YoY EBITDA 18.2 20.4 +12% Operating
Slide 20: Divisional performance
Divisional performance mEUR H1 2012 H1 2013 % YoY Revenues Revenues Design: Continued moderate growth in first half 2013 Design 68.3 70.9 +4% Build: Positive service business Build 7.0 7.5 +8% and customer expenditure Manage 2.0 2.2 +11% Manage: Large customer wins Multimedia 7.1 7.8 +9% Multimedia:
Slide 21: Outlook 2013 and market environment
Outlook 2013 and market environment EuroConstruct* reduced the estimated growth rates in June 2013 vs. Dec. 2012 Overall a decline in investments (-2.8%) is expected in 2013; in 2014 an increase of 0.5% is estimated Construction output will grow in most Nemetschek markets in 2014 and 2015 (esp. DACH
Slide 22: Agenda
Agenda Nemetschek Group: In brief Strategy Financial data Nemetschek share Why invest? 22
Slide 23: Shareholder structure
Shareholder structure Founded: in 1963 IPO: March 10, 1999 Number of shares: 9,625,000 Frankfurt Stock Exchange, Prime Standard Bloomberg: NEM GY, Reuters: NEKG.DE Shares Nemetschek family: 53.5% 25.1% Freefloat: 46.5 percent Current MarketCap: ~ 425 mEUR 46.5% Current TecDAX Ranking: 26/28 11.5% Pr
Slide 24: Nemetschek share price performed better than indices
Nemetschek share price performed better than indices 51 48 45 42 39 36 33 30 Jan 2013 Feb 2013 Mar 2013 Apr 2013 May 2013 Jun 2013 Jul 2013 Aug 2013 Sep 2013 Nemetschek TecDAX DAX Time Nemetschek TecDAX DAX Year 2012 +29% +18% +25% In 2013* +38% +27% +11% Inclusion in the TecDAX improves visibility
Slide 25: Agenda
Agenda Nemetschek Group: In brief Strategy Financial data Nemetschek share Why invest? 25
Slide 26: Very good reasons
Very good reasons Strategic market • Clear focus on AEC Market positioning • Leading in Open BIM solutions Healthy financial • High margin business • Strong cash generation • Healthy balance sheet Growth potential • Integrated process of designing, building and managing buildings • Foster collaborat
Slide 27: Disclaimer
Disclaimer This presentation contains forward-looking statements based on the beliefs of Nemetschek AG management. Such statements reflect current views of Nemetschek AG with respect to future events and results and are subject to risks and uncertainties. Actual results may vary materially from thos
Slide 28: Leading in the AEC industry…
Leading in the AEC industry… Science & Technology Park, Doha (Qatar) Graphisoft Big Palette Fukushima, Vectorworks Koriyama (Japan) 28
Slide 29: … always at the cutting edge …
… always at the cutting edge … U2 Stage – 360º Tour, worldwide Scia Havenhuis, Antwerpen (Belgium) Scia 29
Slide 30: …in projects worldwide…
…in projects worldwide… Centre Pompidou, Metz (France) Allplan The Faith Lutheran College Secondary School, West of Brisbane (Australia) Graphisoft 30
Slide 31: …via Open BIM realized projects…
…via Open BIM realized projects… Arboleda Building, Santo Domingo (Dominican Republic) Fraunhofer Institut, Saarbrücken (Germany) Vectorworks Allplan 31
Slide 32: …via Open BIM realized projects …
…via Open BIM realized projects … InterContinental Davos Resort & Spa, Switzerland Allplan The Nuclear Advanced Manufacturing Research Centre (NAMRC), Sheffield (UK) Graphisoft 32
Slide 33: …in completely new dimensions…
…in completely new dimensions… Maxon Cinema 4D Leading 3D software solution for visual effects and motion graphics Red Bull Media House, Production: Peter Clausen Film Production, Animation Studio: AixSponza Stratos, Red Bull Media House 33
Slide 34: …with innovative technology
…with innovative technology Maxon Cinema 4D Release 14 September 2012 34
Slide 35: Appendix: P+L statement – quarterly comparison
Appendix: P+L statement – quarterly comparison mEUR Q2 2013 Q2 2012 % YoY Revenues 44.8 42.8 +5% Own work capitalized/ Other operating income 0.7 1.0 -36% Operating income 45.4 43.9 +4% Cost of materials/ purchased services -2.2 -1.9 +14% Personnel expenses -19.2 -19.3 0% Other operating expenses -1
Slide 36: Appendix: P+L statement – half-year comparison
Appendix: P+L statement – half-year comparison mEUR H1 2013 H1 2012 % YoY Revenues 88.5 84.4 +5% Own work capitalized/ Other operating income 2.0 2.2 -9% Operating income 90.4 86.6 +4% Cost of materials/ purchased services -4.3 -3.6 +18% Personnel expenses -38.4 -37.8 +2% Other operating expenses -2
Slide 37: Appendix: Balance sheet - Assets
Appendix: Balance sheet - Assets mEUR June 30, 2013 Dec 31, 2012 ASSETS Cash and cash equivalents 48.7 44.3 Trade receivables, net 22.8 21.4 Other current assets 10.5 8.7 Total current assets 81.9 74.4 Tangible assets 4.9 5.0 Intangible assets 28.0 31.4 Goodwill 52.9 52.6 Other non-current assets 1.
Slide 38: Appendix: Balance sheet – Equity and liabilities
Appendix: Balance sheet – Equity and liabilities mEUR June 30, 2013 Dec 31, 2012 EQUITY AND LIABILITIES Short-term loans 0.0 0.0 Trade payables & accrued liabilities 16.9 19.0 Deferred revenue 28.9 21.6 Other current liabilities 6.9 6.3 Total current liabilities 52.7 46.9 Deferred tax liabilities 1.
Slide 39: Appendix: Cash flow statement
Appendix: Cash flow statement mEUR H1 2013 H1 2012 % YoY Cash at beginning of period 44.3 33.5 +32% Operating cash flow 19.1 16.9 +13% Investing cash flow -2.5 -3.0 -18% t/o CapEx -2.5 -2.5 Financing cash flow -12.1 -17.0 -28% FX-effects -0.2 0.5 Cash at end of period 48.7 31.0 +57% Free cash flow*
Slide 40: IR-calendar 2013 and contact
IR-calendar 2013 and contact 23/09 Berenberg and Goldman Sachs German Corporate Conference, Munich 24/09 Baader Investment Conference in Munich, Munich 25/09 UniCredit and Kepler Chevreux German Investment Conference, Munich 31/10 Publication of Q3 Report 11-13/11 Equity Forum, Frankfurt 20-22/11 Mo
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