Nemetschek keeps margin stable

  • Provisional figures for Q1 2009 presented
  • Revenues of 33.6 million euros
  • EBITDA margin of 21.7 percent
  • Cash flow for period at 6.8 million euros

Munich, April 28, 2009 – Nemetschek AG (ISIN 0006452907), Europe's largest vendor of software for architecture, civil engineering and the building industry, remains clearly profitable even in difficult times. According to provisional figures, the revenues in comparison to the strong Q1 in the previous year dropped by 7.9 percent from 36.4 million euros to 33.6 million euros.

The EBITDA in the first quarter of 2009 amounted to 7.3 million euros after 8.0 million euros in the previous year, which corresponds to an EBITDA margin of 21.7 percent after 22.0 percent in 2008. The operating profit (EBIT) amounted to 4.8 million euros after 5.6 million euros in the previous year; the quarterly surplus amounted to 2.3 million euros after 2.9 million euros. The cash flow for the period increased slightly from 6.3 million euros to 6.8 million euros. The operative cash flow amounted to 9.5 million euros after 12.9 million euros in the previous year - the reason for this is the increased reduction in liabilities and the slight increase in receivables compared with December 31, 2008. The equity ratio of Nemetschek AG is still slightly above 40 percent, the liquid assets amount to 31.6 million euros. The company's net debt is thus at around 18 million euros.

Outlook for fiscal 2009

With the results at hand for the first quarter the outlook for the year as a whole has crystallized somewhat. From today's point of view a drop in revenues of between 5 and 10 percent for the Nemetschek Group over the year as a whole can be expected. In view of the cost measures that have already been initiated, however, the managing board expects to be able to maintain the operative margin (EBITDA margin) in 2009 in the region of 20 percent.

The full report for the first quarter of 2009 will be published on May 8, 2009, as announced.

Explanations

The worldwide economic downturn is leaving its mark on Nemetschek AG too. 'We have nevertheless set ourselves the goal of keeping the operative margin largely stable. If the fall in revenues remains on this scale, then we should be able to achieve this goal,' emphasizes Ernst Homolka, CEO of Nemetschek AG. He added that the company had reduced costs step by step in the past months and would continue to follow a policy of strict cost discipline without endangering the substance of the company.

Furthermore, he added that the large subsidiaries would be launching important product innovations on the market during the course of the year, which would address current issues such as building renovation and energy efficiency. 'If the economic packages launched by various governments lead to the expected market recovery in the second half of the year, the Nemetschek Group will clearly benefit'.