Nemetschek hits 2022 revenue target — just

Nemetschek announced preliminary results for fiscal 2022 earlier today, indicating that business slowed slightly in Q4. For 2022, the company reported revenue of €‎802 million, which means Q4 revenue of €‎203 million was about 2% below expectations. We’ll know more when we get the details in March, but that slight dip is likely due to Nemetschek’s Bluebeam brand, which has been converting users to subscriptions; total FY 2022 revenue was still up a very sturdy 18% as reported (up 12% in constant currencies, at the low end of earlier guidance).

That said, the company’s press release did signal some caution:

“In this volatile economic environment, we maintained our profitable growth path also in 2022 while simultaneously driving forward the transformation of our business model,” said Yves Padrines, CEO of the Nemetschek Group. “Our strategic focus areas such as further internationalization, an intensified go-to-market strategy, innovation, as well as the transition to subscription and SaaS models will make us even more agile and resilient in the future. We also continue to see great potential in our markets in the long term. Structural growth drivers such as the low level of digitalization in the construction industry, increasing requirements on quality, efficiency, and sustainability, as well as the ever-rising demand for 3D animations in the media sector let us continue to look into the future very optimistically.” (Bolding is mine – Monica)

In the absence of other info from the company, that volatility could be due to a slowdown in housing starts and other AEC-related uncertainties in Europe (still Nemteschek’s primary market) — we’ll find out on March 23 when the company initiates its guidance for 2023.