Nemetschek SE: Raised Targets for 2020 Fully Achieved - At Least High Single-Digit Growth with High Profitability in 2021

  • Revenues increase to EUR 596.9 million in 2020 (+7.2%), EBITDA margin at high 28.9%
  • Recurring revenues increase by 19.9% to EUR 359.0 million, driven by subscription/SaaS (+79.6% to EUR 90.4 million)
  • Outlook for 2021: At least high single-digit growth at constant currencies and attractive EBITDA margin of between 27% to 29% targeted
  • Ambition 2023: Growth in the mid-teens following successful subscription/SaaS transition

Munich, March 23, 2021 - The Nemetschek Group (ISIN DE 0006452907) has recorded successful business development in 2020 despite the global Covid-19 crisis and has also created important prerequisites for accelerating its growth course in the future. The provider of software solutions for the construction industry fully met its 2020 annual targets for revenues and profitability (EBITDA margin), which were raised in October. For 2021, currency-adjusted revenue growth is expected to be at least in the high single-digit percentage range. At the same time, Nemetschek is aiming for a continuously increasing share of recurring revenues, which will be driven primarily by the conversion to a cloud-centric subscription model (SaaS) of its global Build-division brand Bluebeam which will start in the second half of 2021. In 2021, the EBITDA margin is expected to remain within the high corridor of 27% to 29% as previously targeted. In addition, the Executive Board is confident to reach a mid-teens growth starting in 2023 and following the successful subscription/SaaS transition.

"Thanks to our rapid adaption to the new circumstances, a crisis-resistant business model and prudent cost management, we have successfully mastered the past year," said Dr. Axel Kaufmann, Spokesman of the Executive Board and CFOO. "With our very good positioning regionally and with customers, and the steadily increasing share of recurring revenues, we have laid the foundation for further growth in 2021 while achieving attractive profitability. In the coming years, the clear benefits from the stronger shift to subscription and cloud will contribute to value creation and significantly accelerate our growth," Kaufmann added.

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