Schnitger Corporation

Nemetschek optimistic about 2014

EarningsBack in February, Nemetschek announced preliminary results that were pretty good — growth accelerated towards the end of 2013, with Q4 coming in at €52 million, up 9% year/year.  Full year revenue was up 6% to €186 million. Today the company confirmed those earlier figures and gave a bit more detail on 2013 and what the company sees as we move into 2014.

Nemetschek groups its dozen brands into four categories. You’re probably most familiar with Allplan, Graphisoft and Vectorworks — those are mostly in the Design segment, which makes up over 80% of the company’s revenue. For 2013, revenue from this segment was up 6% to €150 million. Growth was driven by sales of Vectorworks and Graphisoft, and slowed somewhat by shifts in the Allplan management team.

Revenue from the Build segment was up 7% to €15 million. Facilities management continues to be an area of focus for Nemetschek. Revenue from the Manage segment was up 20% to €5 million. Finally, revenue from the Multimedia segment was up 8% to €16 million.

By revenue type, growth came from software maintenance, which was up 11% to €89 million; license revenue was up 1.5% to €87 million.

By geo, revenue from Germany and Europe continued to dominate. Revenue from Germany was €76 million, up 8%. Revenue from the rest of Europe was €73 million and the company (like many in our space) said that “southern European markets suffered under the weak economy and some were unable to achieve growth”. Revenue from the Americas €20 million, and from Asia, €17 million; both were characterized as growing “faster than average”. The company says its market position strengthened outside Europe. [Nemetschek gave 2013 data as percentages of the total, so exact comparisons are difficult to make. — Ed.]

Nemetschek is bullish on 2014, citing increased governmental pushes for BIM-based projects in the public sector and a stable construction market as reasons for optimism. Nemetschek Group expects revenue for 2014 to be up 11% to 14%, to around €210 million.

Finally, Nemetschek had been searching for a new chief financial and operating officer and announced that Patrik Heider joined the company on March 1.

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