CIMdata PLM Industry Summary Online Archive
18 February 2010
Financial News
Nemetschek Exceeds Profit Expectations
During the crisis year 2009, Nemetschek AG managed to increase the operative margin despite a drop in revenues: according to preliminary figures the operating result (EBITDA) amounts to 30.4 million euros and thus exceeds analyst expectations by 10 percent.
During the course of the economic crisis, sales revenues in 2009 dropped by 10 percent from 150.4 million euros to 135.6 million euros as forecast. The reason for this development in revenues in the past fiscal year was the drop in revenues from 80.8 million euros to 64.3 million euros in license sales while the revenues from maintenance contracts actually increased by 5 percent to 62.0 million euros. The group's foreign markets in particular were affected by the crisis, with a drop in sales revenues from 93.0 million euros to 77.3 million euros; in Germany, sales revenues increased slightly from 57.4 million euros to 58.3 million euros.
Notwithstanding the drop in sales revenues the group's earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to 30.4 million euros, which is only marginally less than the previous year's figure (31.4 million euros). This corresponds to an EBITDA margin of 22 percent, up from 21 percent in 2008, and is attributable to consistent cost management in all areas of the group. According to the preliminary figures the group earnings before interest and taxes (EBIT) amount to 20.9 million euros and are at the same level as the previous year (21.0 million euros). As a result of fewer interest expenses, the net income (consolidated shares) is expected to rise from 10.4 million euros to 12.2 million euros.
The cash flow for the period amounted to 28.6 million euros, after 29.9 million euros in 2008. The cash flow from operating activities dropped from 30.4 to 23.5 million euros. The reason for this is the reduction in liabilities. With liquid assets of 22.9 million euros (previous year: 23.2 million euros) the group's current net debt is 9.3 million euros after 26.1 million euros at the end of 2008. In total, over a period of three years, Nemetschek has repaid 67.8 million euros of the bank loan of 100 million euros taken to finance the acquisition of Graphisoft. The equity ratio increased in from 41 percent in 2008 to 50 percent in 2009.
The complete annual report 2009 will be published on March 24, 2010.
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