Nemetschek closed out 2020 with “very positive” Q4
Nemetschek released preliminary results for Q4 this morning and said that it “closed the fiscal year with a very positive fourth quarter” that enabled it to meet its raised annual target for revenue in 2020. More details to come on March 23, but:
Total revenue for the year was up 7% as reported (up 8% in constant currencies, cc) to €597 million. The company said organic revenue was up 6%; the rest of the growth was due to its Red Giant acquisition (reported in the Media & Entertainment segment). In Q4, total revenue was up 6% to €160.1 million, a growth rate of 6.1%. (I am not sure what to make of the statement “The currency-adjusted growth [in Q4] was as high as 9.7%” — perhaps that’s something still being worked on before the final report.)
Axel Kaufmann, Spokesman of the Executive Board and CFOO of the Nemetschek Group, said “Even though the impact of the global corona crisis continues to be felt, we were able to successfully close the fiscal year 2020 and further expand our market position. The development demonstrates our quick response to the special situation and the robustness of our business model. Thanks to the strong positioning in our respective customer segments, and assuming a further needed normalization of the business conditions, we anticipate further attractive growth in 2021.”
We’ll know more about 2020 and the company’s outlook for 2021 on Tuesday, March 23, 2021.