Nemetschek Q4 FY17 Revenue Up by 15% to 105.7M Euros
MUNICH, Germany, Feb 5, 2018 – The Nemetschek Group (DE ISIN 0006452907) has achieved an unusually strong 2017 financial year with clearly double-digit revenue growth and an over-proportional increase in EBITDA according to preliminary figures. The high growth targets for 2017 with regard to revenue and EBITDA were met or exceeded.
In the record year 2017, group revenue rose by a high 17.3% to EUR 395.6 million (previous year: EUR 337.3 million). Despite negative currency effects, it is within the forecast corridor of EUR 395 million to EUR 401 million*. Adjusted for currency effects, Nemetschek achieved even stronger revenue growth of 18.6% and is at the upper end of the forecast corridor. Organic growth also rose considerably by 13.8% (currency-adjusted: +15.0%).
In the fourth quarter of 2017, revenue increased strongly compared to the same quarter in the previous year (EUR 91.9 million) by 15.1% (currency-adjusted: +19.4%) to EUR 105.7 million. There was a 13.6% increase in organic growth (currency-adjusted: 17.6%).
Operating consolidated earnings before interest, taxes and depreciation (EBITDA) significantly grew over-proportionally compared to revenues. With a plus of 22.7% (currency-adjusted: +25.7%), EBITDA rose from EUR 88.0 million in the previous year to EUR 108.0 million for the fiscal year 2017 and thus exceeded the forecast corridor of EUR 100 million to EUR 103 million*.
In the fourth quarter, Nemetschek achieved unusually strong EBITDA growth of 47.2% (currency-adjusted: +53.4%) to EUR 31.5 million (Q4 2016: EUR 21.4 million), which was marked by reporting date effects in the case of current investments. In 2018, the Nemetschek Group will be increasing investment in strategic projects already underway, which is to ensure continued double-digit growth in the future.
Operatively strong development and positive effects drive net income for the year
The net income for the year and/or earnings per share for 2017 will rise even more considerably as a result of strong operative performance and positive special effects.
There is a positive one-off effect of approximately EUR 7.6 million in the financial results. The reason is the release of a provision for an earn-out component contained in the purchase price arising from the Solibri acquisition since this component will not come into effect. Moreover, two positive tax effects are expected. On the one hand, there is deferred tax income on unrealized Group-internal exchange losses as a result of a loan in the USA. On the other hand, the US tax reform is leading to further positive deferred tax income. Together, both effects will reduce the Group’s tax burden in 2017 by approximately EUR 4.5 million.
For 2018, as a result of the US tax reform, the tax rate in the Group is expected to be around 3 percentage points lower than initially anticipated: 26% to 28%. These positive effects will also be evident in upcoming years.
The detailed and audited figures for the 2017 financial year will be published together with the 2017 annual report on Thursday, March 29, 2018.
* The forecast was made on the basis of a planned USD/EUR rate of 1.09. Adjusted for currency effects on the basis of the planned rate, revenue would be EUR 402.8 million and EBITDA would be EUR 111.5 million
About Nemetschek Group
The Nemetschek Group stands for digitization in the building sector. Our software solutions make it possible to professionally and holistically design buildings, bridges and tunnels across various disciplines before the groundbreaking ceremony takes place. As a result of the holding structure of the Nemetschek Group, our 15 strong brands are able to act entrepreneurially, drive innovations and collaborate closely with their 2.3 million customers worldwide. With our Open BIM approach, we raise Building Information Modeling to the next level: architects, engineers and construction companies can exchange data securely and smoothly and choose the best solutions for their requirements. Thus, building projects are completed with more efficiency and flexibility. Founded by Prof. Georg Nemetschek in 1963, the Nemetschek Group today employs more than 2,000 experts, who are building the AEC (Architecture, Engineering, Construction) industries of the future. Publicly listed since 1999 and quoted on the TecDAX, the company achieved a preliminary revenue amounting to EUR 395.6 million and an EBITDA of EUR 108.0 million in 2017 according to preliminary figures. For more information, visit https://www.nemetschek.com/en.