EarningsMensch und Maschine Software, Autodesk’s largest European reseller but also a software developer in its own right, just announced Q3 results that were, well, darned good. Revenue was up 14% year/year (y/y) to €32 million. Revenue from the company’s own software was up 11% for the quarter to €8.6 million, while the VAR business contributed €23.7 million, up 16%.

MuM doesn’t release many details on its proprietary software business but from investor presentations, we can infer that the business is about 80% CAM (Open Mind), which amounts to about 25% of the entire business’ revenue.

As we would expect, the software business is by far the most profitable, contributing half of the company’s gross margin even though it accounts for just over a quarter of total revenue. MuM says the software line typically has margins of 17% to 10%, with a target of 22%; the VAR business, in contrast, typically has margins of under 10%. No surprise, then, that MuM is investing in Open Mind, DATAflor (landscaping) and escad (building automation; licensed back from Autodesk).

MuM CEO Adi Drotleff, MuM CEO said in a prepared statement that the “positive business development during the first 9 months makes us confident that the ambitious targets for fiscal year 2014 should be achievable. So, from this actual point of view, sales are expected to be in the order of magnitude of €140 million (+11%). The Q4 sales target thus is €37 million (+14%).”

MuM represents a decent chunk of Autodesk’s business in Europe. If Autodesk can grow across the board as rapidly as did MuM’s VAR business, that would mean Autodesk, too, had a very good quarter. We’ll know more when Autodesk reports sometime in late November.