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NEMETSCHEK GROUPCompany Presentation
May 2017
Barco One Campus, Kortrijk, BelgiumArchitects: Jaspers-Eyers Architects | Engineering Office: Establis
Image: Marc Detiffe | Realized with GRAPHISOFT and SCIA
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NEMETSCHEK GROUP: In Brief………………………...….……………………………….......3
Trends & Strategy…...………………………………………………………………………………8
Financials: Q1 2017…………………….....………………………………………………...........14
NEMETSCHEK Share………..………...……………..………………………….…………….....24
Outlook: FY 2017.…………………………………….…………………….……………………...27
Appendix…………………………………………………………………….….……………...…...29
Contact...………………………..…………………………………………….…………………….34
MAY 2017 COMPANY PRESENTATION
Agenda
MAY 2017 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
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MAY 2017 COMPANY PRESENTATION 4
The Philosophy of Nemetschek
We are a Group of industry leaders with a unique DNA and expertise in the AEC* industry.
All of our strong brands share the same mission:
“We are open and declare our support of Open BIM, a standard that allows maximum flexibility and a seamless collaboration of all the parties involved in the construction process so that quality is enhanced in construction in compliance with time and cost schedules.”
* Architecture, Engineering, Construction
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MAY 2017 COMPANY PRESENTATION
History: 50 Years of Innovation and Success
* Building Information Modeling
INTERNATIONALIZATION INNOVATION DRIVERSPIRIT OF INVENTION
1980Nemetschek presents the first computer-aided engineering software (CAE)
1984The first CAD solution ALLPLAN 1.0 appears on the market
1998Numerous acquisitions: Frilo, Glaser, Bausoftware, Crem
2000Acquisition: Vectorworks.Group headquarters move to new premises at the Munich Fair
2017Acquisition: dRofus
1963Georg Nemetschek, a certified engineer, founds the “engineering firm for the construction industry”
TODAYGlobally leading software company in Open BIM* and 5D
2013Acquisition: Data Design System
2006Graphisoft and Sciabecome subsidiaries of the Nemetschek Group
1983Internationalization begins in Austria and Switzerland
1999IPO of Nemetschek. Acquisitions: Maxon, Auer
1968The first use of computers in the construction industry
1997Nemetschek presents the database-driven platformO.P.E.N. – known today as BIM*
2008Founding of Allplan GmbH(formerly Nemetschek Allplan Systems GmbH)
2005Founding of Precast Software Engineering(formerly Nemetschek Engineering)
2016Acquisitions: Solibri andDesign Data.Conversion of Nemetschek AG into a SE.
2014Acquisition: BluebeamSoftware. Investment in the start-up Sablono GmbH
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Nemetschek at a Glance
MAY 2017 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 14 strong brands337.3 mEUR sales revenues (2016)2.3 million users in 142 countriesAbout 2,000 employees worldwide60 locations in more than 40 countriesIPO 1999, listed in the TecDax2.3 billion EUR market capitalization
* Architecture, Engineering, Construction
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Media &Entertainment
Strong Brands under One Umbrella
MAY 2017 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
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Trends & Strategy
MAY 2017 COMPANY PRESENTATION 8
WorkflowsDrawings
Since 1985
Models
Today Tomorrow
AEC Industry in Transition
COMPANY PRESENTATIONMAY 2017 9
Mega Trend Digitalization – Entering The Industries
MAY 2017 COMPANY PRESENTATION
3,82
3,33
3,30
3,21
3,12
3,10
3,03
3,01
2,90
2,70
2,51
2,47
2,35
2,05
1,97
1,97
1,82
most some few very few1.0 2.0 3.0 4.0
Source: TOP 500 survey 2014 / Accenture
Average: 2,8
Telecommunications
Media & entertainment
Information technology
Automobile manufacturers
Electronics & high tech
Service providers
Logistics & transportations
Mechanical & plant engineering
Trade
Pharmaceutical & medical-device industry
Consumer goods
Utility sector
Automotive supplier
Chemical industry
Metals
Construction
Oil & Gas
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IT Spending as a % of Revenue by Industry (2015)
MAY 2017 COMPANY PRESENTATION
1,1
1,2
1,3
1,4
1,5
1,8
2,1
2,2
2,9
2,9
3,0
3,1
3,9
4,1
4,5
4,6
5,5
6,5
6,9
0% 1% 2% 3% 4% 5% 6% 7% 8%
Source: IT Key Metrics ‚Data 2015
Software Publishing and Internet Services
Banking and Financial Services
Education
Media and Entertainment
Professional Services
Healthcare Providers
Telecommunication
Pharmaceuticals, Life Sciences and Medical
Transportation
Insurance
Utilities
Industrial Electronics and Electrical Equipment
Consumer Products
Industrial Manufacturing
Retail and Wholesale
Chemicals
Food and Beverage Processing
ConstructionEnergy
90
525
2015 2025
Global IT Investment in construction increasing
Source: McKinsey
19%CAGR
Average: 3,4
in billion USD
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North America
1478
North America
2685
Europe1222
Europe2772
APAC872
APAC1653
ROW 488
ROW 838
2015 2020
BIM Market Size 2015/2020
BIM Market Size and Growth
MAY 2017 COMPANY PRESENTATION
Europe$ 1,222 mUSD +13.4%
North America$ 1,478 mUSD +12.7%
$ Market Size 2015 CAGR 2015 - 2020
Total7,948 mUSD
Total4,313 mUSD
+11.4%
+13.6%
+13.4%
+12.7%
CAGR
BIM Market by Region 2015
CAGR: +13%5 years
APAC$ 872 mUSD +13.6%
ROW$ 488 mUSD +11.4%
Source: BIM Market, Global Trends and Forecasts (2015-2020)
Markets and Markets
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Status of Current BIM Regulations and Use
MAY 2017 COMPANY PRESENTATION
Source: HSBC, Kepler Cheuvreux
50%
95%
We currently use BIM
In five year's time we will use BIM
National UK BIM Report survey on future use of BIM
Countries currently recommending or mandating BIMCountries recommending BIM as of 2017Countries with BIM guidelines/ positive BIM development
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MAY 2017 COMPANY PRESENTATION 14
Financials: Q1 2017
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15MAY 2017 COMPANY PRESENTATION
Nemetschek Group Highlights for Q1 2017 (1)
Dynamic revenue growth in Q1 2017
Q1 revenues increased strongly by 24.0% to 96.3 mEURInorganic effects – dRofus (1.3 mEUR) and Design Data (3.1 mEUR)Organic growth of high 18.3%
Strong revenue increase abroad
Revenues abroad increased significantly by 26.5% to 67.5 mEURRevenue share outside of Germany at 70.1%, Americas at 27.0%Growth regions: Americas, Asia, NordicDomestic revenues also in growth mode with +18.5% to 28.8 mEUR
Growth driver: Recurring revenues
Recurring revenues up by 31.5% to 43.8 mEURRecurring revenue share at high 45.4% Positive revenue development of software licenses: +20.4% to 48.5 mEURBoth, high recurring revenues and new customers secured
EBITDA grew stronger than revenues –profitability increased
EBITDA up by 25.5% yoy to 26.3 mEUREBITDA margin increased from 27.0% to 27.4% No activation of R&D costsStrategic investments to secure future growth: Internationalization, cross-brand developments, innovations
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Significant growth of net income and EPS
Net income (group shares) increased significantly by 28.6% to 14.2 mEUREPS up to 0.37 EUR (previous year: 0.29 EUR)Net income w/o PPA increased by 28.3% to 16.7 mEUREPS (w/o PPA) accordingly at 0.43 EUR
Cash and solid balance sheet
Cash and cash equivalents at 101.4 mEUR despite dRofus acquisitionNet liquidity at 11.7 mEUREquity ratio of 45.2% - leeway for further investments / acquisitions
Dividend Dividend proposal of 0.65 EUR per share (previous year: 0.50 EUR per share)Dividend increase of 30% yoyTotal amount to be distributed of 25.025 mEURProposal to the AGM on June 1, 2017 in Munich
Outlook confirmed
Q1 as a very good basis for the fiscal year 2017Continuing to be the fastest growing software company in Europe Revenue target range: 395 - 401 mEUR, increase of +17% - +19% Thereof organic: +13% - +15%, inorganic effects through dRofus and Design DataEBITDA target range: 100 - 103 mEUR (+16 - +20%)High EBITDA margin of FY 2016 will be maintained despite strategic investment to secure sustained future growth and lower EBITDA margins of strongly expanding acquired brands
Nemetschek Group Highlights for Q1 2017 (2)
MAY 2017 COMPANY PRESENTATION
Revenues: Excellent and dynamic start in the fiscal year 2017
MAY 2017 COMPANY PRESENTATION
77,783,8 83,9
91,996,3
+24.0%
Revenues in mEUR
Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017
Q1 2017 Revenues up by 24.0% to 96.3 mEUR Acquired companies dRofus and Design
Data contributed around 4.4 mEUR Organic growth of 18.3% yoy
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International Growth In Focus, More than 50 Locations
AMERICASBrazilCanadaMexicoUSA
WESTERN ANDSOUTHERN EUROPEAustriaBelgiumFranceGreat BritainGermanyItalyNetherlandsSpainSwitzerland
ASIAChinaJapan
Singapore
NORTHERN AND EASTERN EUROPE
Czech RepublicFinland
HungaryNorwayRussia
SlovakiaSweden
MAY 2017 COMPANY PRESENTATION 18
AUSTRALIA
Germany30%
Europe w/oGermany
34%
Americas27%
Asia/Pacific9%
Software license revenues
50,4%
Recurring revenues*
45,4%
Consulting & Hardware
4,2%
* Software services, rental models (Subscriptions, SaaS)
High share of recurring revenues
MAY 2017 COMPANY PRESENTATION
Revenues split Q1 2017 in %
Recurring revenues* High growth of 31.5% to 43.8 mEUR High recurring revenue share of 45.4%
leads to higher stability
Software license revenues Up by 20.4% to new high of 48.5 mEUR New customers wins Increasing customer base Consequently recurring revenues will
follow
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EBITDA increased stronger than revenues
MAY 2017 COMPANY PRESENTATION
21,0
24,6
21,0 21,4
26,3
+25.5%
in mEUR
Change
Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017
Margin +27.0% +29.3% +25.1% +23.3% +27.4%
EBITDA Up by 25.5% to 26.3 mEUR
EBITDA margin EBITDA margin improved to 27.4% High EBITDA margin despite strategic
investments to secure future growth and lower EBITDA margins of strongly expanding acquired brands
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Net income and EPS with significant growth of 28.6% yoy
MAY 2017 COMPANY PRESENTATION
11,0
13,014,2
16,7
+28.6%
Net income Net income w/o PPAin mEUR in mEUR
Change
Q1 2016 Q1 2017 Q1 2016 Q1 2017
+28.3%
0,290,340,37
0,43
+28.6%
EPS EPS w/o PPAin EUR in EUR
Q1 2016 Q1 2017 Q1 2016 Q1 2017
+28.3%
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Segment overview
MAY 2017 COMPANY PRESENTATION
20,0 19,5
1,55,2
30,027,9
1,85,9
Revenuesin mEUR
EBITDAMargin
Change
DesignDouble-digit revenue growth rate of +18.0%Inorganic effect of dRofus with 1.3 mEUR revenuesOrganic growth of +15.4%Positive development in all brands and regionsEBITDA margin increased to 28.3%
BuildVery strong revenue growth of +42.9%Inorganic effect of Design Data with 3.1 mEUR revenuesOrganic growth of +26.9% Bluebeam and Solibri are strongest growing brandsFurther investments to secure high growth rates in the future
ManageContinued revenue growth with +20.3%Slight improvement of the EBITDA margin
Media & EntertainmentPositive revenue development with +13.2%High profitability but further investments in future growth
Q1 2016 Q1 2017 Q1 2016 Q1 2017 Q1 2016 Q1 2017 Q1 2016 Q1 2017
26.1% 28.3% 25.6% 22.6% 13.7% 14.2% 45.1% 44.6%
+18.0% +42.9% +20.3% +13.2%
51,4
60,7
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Cash flow situation
MAY 2017 COMPANY PRESENTATION
in mEUR
EBITDA+25.5% yoy
Operating cash flowOnly slight increase because of earn-out component of Bluebeam (5 mEUR)
Adjusted operating cash flow (w/o earn-out) would have been at 26.9 mEUR (+26.3% yoy)
Investing cash flowCapex of 1.2 mEURAcquisition of dRofus (24.5 mEUR)
Cash flow from financing activitiesRepayment of bank loan (-6.5 mEUR)
Net liquidity situation despite dRofusacquisition
Leeway to grow organically and via acquisitions
Conversion rate** Strong conversion rate of 83% (previous year: 102%)
16,3
-4,8
-1,8
21,3
21,0
11,7
-6,9
-25,6
21,9
26,3EBITDA
Operating cash flow
Investing cash flow
Cash flow from financing activities
Net liquidity
Q1 2017Q1 2016
** Operating cash flow / EBITDA
*
* End of FY 2016
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NEMETSCHEK Shares
MAY 2017
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COMPANY PRESENTATION
25
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: ~ 2.3 billion EURCurrent TecDAX Ranking: 15/20
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 PRESENTATIONMAY 2017
26
Share Price Increased Stronger than TecDAX and DAX
COMPANY PRESENTATIONMAY 2017
Time Nemetschek TecDAX DaxYear 2013 +52% +38% +23%
Year 2014 +66% +18% +3%
Year 2015 +120% +34% +10%
Year 2016 +20% -1% +7%
YTD 2017 +14% +16% +10%
43
46
49
52
55
58
61
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01.2017 02.2017 03.2017 04.2017 05.2017Nemetschek TecDAX DAX
MAY 2017
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Outlook: FY 2017
COMPANY PRESENTATION 27
Optimistic outlook 2017 confirmed
MAY 2017 COMPANY PRESENTATION
in mEUR FY 2016 Forecast 2017* Organic
Revenues 337.3 395 – 401 (+17% - +19%) +13% - +15%
EBITDA 86.1** 100 – 103 (+16 - +20%)
*USD/EUR plan rate: 1.09** EBITDA w/o positive one-off effect of 1.9 mEUR
Market conditions Digitalization and IT spending will drive the use of software solutions in the AEC marketBIM market is expected to grow at a remarkable rate owing to supportive government regulations mandating the adoption of BIM software for construction projects
Strategic market positioning
Clear focus on AEC marketLeading player of Open BIM solutionsNetwork of industry leaders
Growth potential/ Investments
Focus on internationalization (North America, Asia, Europe)Investments in cross-brand strategic projects, new regional markets and customer segments, sales & marketing and innovationStrategically co-operations & acquisitionsHealthy balance sheet - capable of investing in organic and in inorganic growth
Guidance 2017 confirmend
Revenues: Focus on topline with double digit growth rates in the mid-teens EBITDA: Double digit growthHigh EBITDA margin of FY 2016 will be maintained despite strategic investment to secure sustained future growth and lower EBITDA margins of strongly expanding acquired brands
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Appendix
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MAY 2017 COMPANY PRESENTATION 29
30
P+L statement Q1 / FY comparison
mEUR Q1 2017 Q1 2016 % YoY
Revenues 96.3 77.7 +24.0%
Own work capitalized/other operating income 1.0 1.2 -15.4%
Operating income 97.3 78.8 +23.4%
Cost of materials/ purchased services -2.7 -2.4 +14.3%
Personnel expenses -43.4 -35.0 +24.0%
Other operating expenses -24.8 -20.5 +21.2%
Operating costs -70.9 -57.9 +22.6%
EBITDA 26.3 21.0 +25.5%
Margin 27.4% 27.0%
Depreciation of PPA and amortization -5.5 -4.4 +23.8%
t/o PPA -3.5 -2.7 +30.1%
EBITA (normalized EBIT) 24.4 19.3 +26.5%
EBIT 20.9 16.6 +26.0%
Financial result -0.2 -0.2
EBT 20.7 16.4 +26.4%
Income taxes -5.9 -4.8 +23.0%
Non-controlling interests -0.6 -0.5
Net income (group shares) 14.2 11.0 +28.6%
EPS in EUR 0.37 0.29 +28.6%
MAY 2017 COMPANY PRESENTATION
31
Balance sheet - Assets
mEUR March 31, 2017 December 31, 2016
ASSETS
Cash and cash equivalents 101.4 112.5
Trade receivables, net 47.3 38.8
Inventories 0.5 0.6
Other current assets 18.6 16.0
Current assets, total 167.8 167.9
Property, plant and equipment 13.9 14.3
Intangible assets 94.6 89.7
Goodwill 192.2 177.2
Other non-current assets 6.1 5.7
Non-current assets, total 306.8 286.8
Total assets 474.6 454.7
MAY 2017 COMPANY PRESENTATION
32
Balance sheet – Equity and liabilities
mEUR March 31, 2017 December 31, 2016
EQUITY AND LIABILITIES
Short-term borrowings and current portion of long-term loans 26.1 26.0
Trade payables & accrued liabilities 33.8 40.7
Deferred revenue 75.2 55.3
Other current assets 31.7 24.1
Current liabilities, total 166.8 146.1
Long-term borrowings without current portion 63.6 70.2
Deferred tax liabilities 22.1 20.6
Other non-current liabilities 7.8 15.7
Non-current liabilities, total 93.4 106.5
Subscribed capital and capital reserve 51.0 51.0
Retained earnings 158.1 144.0
Other comprehensive income 1.9 4.4
Non-controlling interests 3.2 2.8
Equity, total 214.3 202.1
Total equity and liabilities 474.6 454.7
MAY 2017 COMPANY PRESENTATION
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Cash flow statement
mEUR March 31, 2017 March 31, 2016 % YoY
Cash and cash equivalents at the beginning of the period 112.5 84.0 +34.0%
Cash flow from operating activities 21.9 21.3 +2.7%
Cash flow from investing activities -25.6 -1.8
t/o CapEX -1.2 -1.9 -38.9%
t/o Cash paid for business combinations -24.5 0.0
Cash flow from financing activities -6.9 -4.8 +42.3%
t/o Repayments of borrowings -6.5 -4.6
FX-effects -0.5 -1.5
Cash and cash equivalents at the end of the period 101.4 97.2 +4.3%
Free cash flow(1) -3.7 19.5
(1) Operating cash flow – Investing cash flow
MAY 2017 COMPANY PRESENTATION
MAY 2017 COMPANY PRESENTATION 34
Contact
NEMETSCHEK SEInvestor RelationsKonrad-Zuse-Platz 1D-81829 MunichGermanyinvestorrelations@nemetschek.comwww.nemetschek.com
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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