Press release -
Successful finish to the year: Nemetschek Group clearly achieves its already raised targets for the financial year 2023
- +8.0% revenue growth (constant currency) to a new record high of EUR 851.6 million
- EBITDA margin at a high 30.3%
- +26.7% growth in Annual Recurring Revenue (ARR) to EUR 718.6 million
- Share of recurring revenues reaches 76.6%
Munich, February 8, 2024 – The Nemetschek Group, a globally leading software provider for digital transformation in the construction and media industries, has successfully concluded the financial year 2023. According to preliminary figures, the Nemetschek Group clearly achieved its guidance for revenue growth and profitability for the financial year, which was already increased in October.
Group revenue for the financial year 2023 grew by 6.2% (constant currency: 8.0%) to EUR 851.6 million (2022: EUR 801.8 million) despite the ongoing subscription and SaaS transition of the business model and a challenging market environment. The currency-adjusted growth was therefore at the upper end of the already increased guidance range of 6% to 8%.
Group operating earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to EUR 257.7 million (previous year: EUR 257.0 million). As already specified in October, the EBITDA margin of 30.3% was at the upper end of the forecast corridor of 28% to 30%.
Annual recurring revenue (ARR) increased by 23.5% (constant currency: 26.7%) to EUR 718.6 million. The ARR growth was therefore well above the revenue growth, which indicates a significant growth potential in the coming twelve months.
In line with the Group’s strategy, the share of recurring revenues as a percentage of total revenue increased strongly to 76.6%. This was more than 10 percentage points above previous year's level (66.4%) and also in line with the guidance (share of recurring revenues >75%).
"The financial year 2023 clearly shows that the Nemetschek Group remains on its successful growth path, despite a partly challenging market environment and economic climate", says Yves Padrines, CEO of the Nemetschek Group. "The ongoing successful transition of our business model from license sales to subscription and SaaS models is reflected in the continued very strong development of our annual recurring revenues (ARR). The now very high share of this revenue category strengthens our visibility and ability to plan for the future. At the same time, our profitability also remained at a high and attractive level, despite the temporary accounting related impacts of the transition to a subscription and SaaS-model. "
The detailed and audited financial statements for the financial year 2023 will be published together with the Annual Report 2023 and the guidance for the financial year 2024 on Thursday, March 21, 2024.
For further information about the company, please contact
Nemetschek Group
Stefanie Zimmermann
Investor Relations
+49 89 540459 250
szimmermann@nemetschek.com
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About the Nemetschek Group
The Nemetschek Group is a globally leading provider of software for digital transformation in the AEC/O and media industries. Its intelligent software solutions cover the entire life cycle of construction and infrastructure projects and allow creatives to optimize their workflows. Customers can plan, construct, and manage buildings and infrastructure more efficiently and sustainably, and develop digital content such as visualizations, films, and computer games in a creative way. The software company drives innovation such as digital twins as well as open standards (OPEN BIM) and sustainability in the AEC/O industries and is continuously expanding its portfolio, including through investments in start-ups. More than 7 million users are currently designing the world with the customer-focused solutions of our four segments. Founded by Prof. Georg Nemetschek in 1963, the Nemetschek Group today employs roughly 3,600 experts.
The company, which has been listed in the MDAX and TecDAX since 1999, achieved a revenue of EUR 851.6 million and an EBITDA of EUR 257.7 million in 2023 according to preliminary figures.
