Nemetschek SE

Earnings Release • Jul 29, 2021

Building Lifecycle Intelligence

2021 HALF-YEAR STATEMENT AS OF JUNE 30,

To our shareholders

We increased our forecast for the current financial year 2021 following a very strong second quarter with new record figures for revenues and earnings. The currency-adjusted revenue growth is now expected to be in the range of 12% to 14% while the EBITDA margin is targeted to be between 30% and 32%.

The successful business development is attributable to Nemetschek's attractive software solutions, the consistent implementation of strategic priorities as well as the high level of commitment of the organization and management. We are currently profiting from our very strong positioning with our customers and the high demand for our digital solutions. We were consequently able to continue with our strong and highly profitable growth in the second quarter. The first half year's development therefore confirms our strategy to further internationalize our business, to reduce complexities within the Group and to acquire new customers. This outstanding business development has led to the increase of our targets for the financial year 2021.

Major key figures for the Group in Q2 and the first half of 2021

• » In Q2, Group revenue rose by 17.2% (currency-adjusted: 21.5%) to EUR 165.9 million (Q2 2020: EUR 141.6 million). The cumulative Group revenue for the first six months increased to EUR 324.3 million, a growth of 12.5% (currency-adjusted: 16.7%) compared to the previous year's revenue of EUR 288.2 million.
• » In addition to the stronger license business, which grew by 24.7% in Q2 (currency-adjusted: 30.0%) to EUR 58.2 million, recurring revenues from subscriptions and SaaS continued to be main growth drivers. Revenues from subscriptions /SaaS grew by 47.4% (currency-adjusted: 53.1%) to EUR 30.2 million. For the first six months of the year, licenses grew by 13.1% (currency-adjusted: 17.8%) to EUR 113.3 million. In addition, Nemetschek increased subscriptions /SaaS revenues by 45.7% (currency-adjusted: 51.5%) to EUR 58.5 million in the first half. Consequently, the proportion of subscriptions /SaaS as a percentage of total revenues increased from 13.9% last year to 18.0% today.
• » In Q2, the consolidated operating earnings before interest, tax and depreciation and amortization (EBITDA) rose over-proportionally by 38.3% (currency-adjusted: 43.3%) to EUR 56.3 million (previous year's quarter: EUR 40.7 million). As a result of the high growth and increased efficiency, the EBITDA margin expanded considerably to 34.0% (Q2 2020: 28.8%). In the first half of 2021, the EBITDA margin increased to 32.7% (previous year: 28.7%).
• » The net income for the quarter grew by 56.9% to EUR 33.1 million (previous year: EUR 21.1 million). Consequently, the Q2 earnings per share increased to EUR 0.29 (previous year: EUR 0.18). The net income for the first half of the year rose by 47.1% to EUR 62.6 million, corresponding to earnings per share of EUR 0.54 (previous year: EUR 0.37).

Strategic focus points and segment overview

• » In the second quarter, the Nemetschek Group successfully implemented its start-up strategy, with investments in two young and innovative companies. In addition to the fast-growing German company Sablono - a digital solution provider for increasing efficiency in the construction process - Nemetschek invested in the US start-up Reconstruct - an expert in the quality control of construction sites with its artificial intelligence-based solutions.
• » The Design segment, which focuses mainly on Europe, was able to continue its double-digit revenue growth from the first quarter in Q2 as well, which was attributable to the increase in revenue from licenses as well as from subscriptions. The revenue for the quarter increased by 16.4% (currency-adjusted: 19.2%) to EUR 84.5 million. The EBITDA margin rose to 32.7% (Q2 2020: 31.8%).
• » The Build segment, which primarily targets construction companies in the USA and the German-speaking region, also continued to profit strongly from the very favorable environment in the construction sector. Revenues in Q2 rose by 13.5% (currency-adjusted: 20.4%) to EUR 54.7 million. The EBITDA margin of 45.1% was significantly above the corresponding previous year's figure (38.0%). In the second quarter, the Bluebeam brand achieved the highest increase in new users in the company's history. Based on the current record growth in new users, Bluebeam will choose a more conservative approach for the planned transition of its business to subscription models in

order to take advantage of these additional opportunities. At the same time, Bluebeam will also be able to test its new subscription solutions for a londer period with selected customers in order to gain even more valuable feedback and insights. Nemetschek is convinced that this approach will maximize the benefits for its customers, support its business development, and offer the possibility to start the transition from an even higher user base in 2022.

• » In the Manage segment, which focuses on the European commercial building sector, the market has continued its recovery, even though the investment volume of building operators has not yet reached pre-crisis levels. In Q2, revenues grew by 15.6% (currency-adjusted: 15.5%) to EUR 11.1 million. The EBITDA margin reached 10.0% (previous year's period: 17.7%).
• » The Media & Entertainment segment continued on its growth course and profited from the conversion to subscription models. Revenue in Q2 grew by 27.7% (currency-adjusted: 33.9%) to EUR 16.5 million. The EBITDA margin expanded to 35.7%, compared to 29.8% in the second quarter last year. The profitability also improved considerably due to the by now completed integration of the Redshift and Red Giant acquisitions.

Financial outlook 2021 raised

Based on the very good business development in the first half of the year 2021 and the continued positive outlook, we decided to raise the outlook for the financial year 2021. The currency-adjusted revenue growth is now expected to be in a range between 12% and 14% (previously: at least high single-digit percentage growth). This is accompanied by a new EBITDA margin target range of 30% to 32% (previously: 27% to 29%).

The outlook is based on the assumption that there will be no deterioration in the economic conditions in the second half of 2021 and that the Corona pandemic will continue to be under control.

Yours sincerely

Dr. Axel Kaufmann

Nemetschek on the Capital Market

In western countries, the corona pandemic is on the retreat. At the end of the first quarter of 2021, governments commenced with easing corona restrictions, which was clearly felt. With this easing of the corona restrictions, the global economy noticeably gained momentum. The expansively aligned monetary and financial policy also helped stimulate the economy.

On the share markets, things have been looking up since the slump caused by the pandemic in February /March 2020. Spurred by strong economic data, most of the share markets also continued their positive price development in the first six months of 2021. European and US share indexes did similarly well, while shares from emerging markets were not quite able to keep up with the performance of shares in industrialized nations.

Overall, indexes in German share markets were able to close the first half year of 2021 positively. The DAX achieved an increase of about 13%, while the MDAX and TecDAX recorded an increase of about 10% and were thus almost on the same level as the Stoxx Europe (Software & Computer Services) with about 9%.

Price development of the Nemetschek share since the start of 2021

On January 2, 2021, the Nemetschek share started the new year at a price of EUR 58.90. By mid-March, upon publication of the 2020 annual figures and the outlook for the current financial year, the share value had lost value. The Nemetschek share reached its all-time low of EUR 51.40 on March 5, 2021. After this, the Nemetschek share recovered, also as a result of positive figures in the first quarter, which were announced at the end of April. By mid-May, after a brief period of consolidation, the share had risen further, and reached its all-time high of EUR 64.64 on June 24, 2021. The share closed the first half year of 2021 at a similar level of EUR 64.52. Thus, the share increased by about 10% in the first half year, rising in alignment with the indexes.

The market capitalization of Nemetschek SE increased since the beginning of the year to around EUR 7.45 billion as of June 30, 2021.

DEVELOPMENT OF THE NEMETSCHEK SHARE COMPARED TO THE DAX, MDAX, TECDAX AND STOXX (SOFTWARE & COMPUTER SERVICES) INDEXED

Nemetschek DAX MDAX TecDAX STOXX Euro

Shareholder structure

As of June 30, 2021, the nominal capital of Nemetschek SE amounted to EUR 115,500,000 and was divided into 115,500,000 no-par value bearer shares.

The free float as of June 30, 2021 was 48.4%.

SHAREHOLDER STRUCTURE*

* Direct shareholdings as of June 30, 2021.

Virtual annual general meeting approved all items on the agenda

Once again, the Nemetschek Group held its regular annual general meeting completely virtually and, in this way, responded to the restrictions which continued to be applicable to public life as a result of the Covid-19 pandemic.

At the completely virtual annual general meeting, shareholders were informed about the past financial year 2020 and about the prospects for the current financial year 2021. In addition, the resolutions from the agenda were presented. The company's shareholders approved all agenda items with a large majority.

The agenda items included the distribution of dividends. For the 2020 financial year, the supervisory board and executive board proposed a dividend in the amount of EUR 0.30 per share, an increase of 7% compared to the previous year (EUR 0.28 per share). The total dividends to be distributed amounted to EUR 34.7 million (previous year: EUR 32.3 million). On the basis of the favorable business development in 2021, the company thus continued its sustainable dividend policy despite the challenging framework conditions resulting from the Covid-19 pandemic, and paid out a dividend for the twelfth time in a row. Simultaneously, the Nemetschek Group will continue to invest strategically in order to ensure its future growth.

Further agenda items included the remuneration systems for the supervisory and executive board members. Moreover, the creation of authorized capital, the creation of an authorization for the issue of convertible and/or warrant bonds and for exclusion of the subscription right as well as the creation of Contingent Capital 2021 were resolved upon.

Key figures

NEMETSCHEK GROUP

in EUR million	2nd quarter 2021	2nd quarter 2020	Change	6 months 2021	6 months 2020	Change
Operative figures
Revenues	165.9	141.6	17.2%	324.3	288.2	12.5%
- thereof software licenses	58.2	46.7	24.7%	113.3	100.1	13.1%
- thereof recurring revenues	99.9	88.9	12.4%	196.1	175.0	12.0%
- subscription (as part of the recurring revenues)	30.2	20.5	47.4%	58.5	40.1	45.7%
EBITDA	56.3	40.7	38.3%	105.9	82.6	28.3%
as % of revenue	34.0%	28.8%		32.7%	28.7%
EBIT	42.3	28.4	48.8%	81.0	57.6	40.6%
as % of revenue	25.5%	20.1%		25.0%	20.0%
Net income (group shares)	33.1	21.1	56.9%	62.6	42.5	47.1%
per share in €	0.29	0.18		0.54	0.37
Net income (group shares) before purchase price allocation	39.2	26.1	50.1%	72.5	52.4	38.3%
per share in €	0.34	0.23		0.63	0.45
Cash flow figures
Cash flow from operating activities	45.3	35.1	29.0%	105.8	78.2	35.2%
Cash flow from investing activities	–10.3	–6.7		–14.2	–88.3
Cash flow from financing activities	–44.2	–49.9		–66.3	–67.4
Free cash flow	35.0	28.5		91.6	–10.1
Free cash flow before M&A investments	35.0	33.1	5.7%	93.8	73.6	27.5%
Balance sheet figures
Cash and cash equivalents*				167.5	139.3	20.2%
Net liquidity /net debt*				59.7	9.0
Balance sheet total*				928.0	889.7	4.3%
Equity ratio in %*				49.3%	46.9%
Headcount as of balance sheet date				3,129	3,014	3.8%
Share figures
Closing price (Xetra) in €				64.52	45.28
Market Capitalization				7,452.1	5,229.84

* Presentation of previous year as of December 31, 2020.

Interim Group Management Report

Report on the earnings, financial and asset situation

Strong first half 2021: Revenue growth of 12.5% and increase in EBITDA margin to 32.7%

Consolidated revenue rose by 12.5% in the first six months to EUR 324.3 million (previous year: EUR 288.2 million). The increase in revenue is a result of solely organic growth. Adjusted for currency translation effects at constant exchange rates, revenue growth would have been 16.7%.

EBITDA increased by 28.3% to EUR 105.9 million (previous year: EUR 82.6 million). The EBITDA margin thus rose considerably from 28.7% in the previous year to 32.7%. The above-average margin is mainly due to the strong operating business development.

Subscription and SaaS continue to drive growth

Overall, there was a recovery in the license business. In the first six months of 2021, the Nemetschek Group's revenues from software licenses were 13.1% higher than in the same quarter of the previous year at EUR 113.3 million (previous year: EUR 100.1 million). Adjusted for currency effects, the increase was 17.8%. Recurring revenues again increased significantly in the first six month by 12.0% to EUR 196.1 million (previous year: EUR 175.0 million). Adjusted for currency effects, recurring revenues rose by 16.2%. The disproportionately strong increase reflects the strategic change in the business model to increasingly offer subscription and SaaS. Revenues from subscription /SaaS increased significantly by 45.7% (adjusted for currency effects: 51.5%) to EUR 58.5 million. Software licenses accounted for 34.9% of total revenues (previous year: 34.8%), while the share of recurring revenues slightly decreased from 60.7% in the previous year to 60.5%.

Internationalization

An essential diversification factor is the Group's continuing global orientation. Domestic sales increased by 12.6% to EUR 80.1 million (previous year: EUR 71.2 million). In the foreign markets, the Nemetschek Group achieved revenues of EUR 244.2 million, an increase of 12.5% compared to the previous year. The share of revenues generated abroad remained unchanged at 75.3% (previous year: 75.3%).

Overview of segments

In the Design segment, revenues increased by 12.4% (adjusted for currency effects: 15.2%) to EUR 168.4 million compared to the prior-year (EUR 149.8 million). EBITDA increased by 20.0% to EUR 55.5 million (previous year: EUR 46.2 million). This corresponds to an operating margin of 33.0%, which was above the previous year's level of 30.9%. In the Build segment, revenues increased significantly year-on-year by 9.1% (after adjustment for currency translation effects: 15.7%) to EUR 105.7 million (previous year: EUR 96.8 million). The EBITDA margin increased to 43.8% (previous year: 38.2%). In the Manage segment, revenues increased by 12.3% (adjusted for currency translation effects: 12.3%) to EUR 22.0 million (previous year EUR 19.6 million). The EBITDA margin was 8.8% and below the previous year (13.8%). The Media & Entertainment segment revenues increased by 21.9% to EUR 31.2 million (previous year: EUR 25.6 million) in the first six months. The currency-adjusted growth was at 27.9%. At 34.8%, the EBITDA margin significantly increased (previous year: 26.9%).

Earnings per share at EUR 0.54

Operating expenses increased by 5.1% from EUR 235.4 million to EUR 247.5 million. The cost of materials included in this figure rose to EUR 12.3 million (previous year: EUR 11.0 million). Personnel expenses rose by 8.2% from EUR 129.6 million to EUR 140.2 million. Other operating expenses increased by 0.3% from EUR 69.8 million to EUR 70.1 million. Depreciation and amortization on fixed assets decreased by 0.1% from EUR 25.0 million to EUR 24.9 million.

The net income for the year (group shares) increased to EUR 62.6 million (previous year EUR 42.5 million). Adjusted for amortization from the purchase price allocation after tax, net income rose by EUR 38.3% million to EUR 72.5 million (previous year: EUR 52.4 million), resulting in earnings per share of EUR 0.63.

The Group's tax rate at the end of the second quarter of 2021 was 19.7% (previous year: 24.3%).

Operating cash flow at EUR 105.8 million – Cash and cash eqivalents at EUR 167.5 million

The cash flow from operating activities was mainly used for investments in fixed assets and the start-up Reconstruct Inc., dividends as well as the repayment of loans and lease liabilities.

The operating cash flow of the first six months in the amount of EUR 105.8 million increased significantly due to the higher operating performance (previous year: EUR 78.2 million) supported by positive working capital effects.

Cash flow from investing activities was EUR –14.2 million (previous year: EUR –88.3 million) and included the investment in the start-up Reconstruct Inc. In the previous year, EUR 79.1 million were paid for the acquisition of Red Giant in the Media & Entertainment segment. The cash flow from financing activities of EUR –66.3 million (previous year: EUR –67.4 million) mainly includes dividends paid out in the amount of EUR 34.7 million (previous year: EUR 32.3 million), the repayment of bank loans of EUR 35.7 million (previous year EUR 27.3 million) and the repayment of lease liabilities of EUR 7.4 million (previous year EUR 6.4 million).

On the quarterly closing date, the Nemetschek Group held cash and cash equivalents of EUR 167.5 million (December 31, 2020: EUR 139.3 million).

Equity ratio at 49.3%

The balance sheet total increased from EUR 889.7 million to EUR 928.0 million compared to December 31, 2020. Equity amounted to EUR 457.3 million (December 31, 2020: EUR 417.3 million), resulting in an equity ratio of 49.3% compared to 46.9% as of December 31, 2020. The increase was driven by the net income for the year (EUR 63.4 million), the currencyrelated increase of Group assets (EUR 11.5 million) and decreased by dividends paid (EUR 34.7 million).

Significant events after the interim reporting period

There were no significant events after the end of the interim reporting period.

Employees

As of June 30, 2021, the Nemetschek Group employed a staff of 3,129 (June 30, 2020: 3,014), an increase of 3.8% on the prior-year quarter. In the following quarters, the Nemetschek Group intends to further increase the number of employees in order to ensure future growth.

Report on opportunities and risks

For the main opportunities and risks of the Nemetschek Group's anticipated development, we refer to the opportunities and risks described in the Group management report as of December 31, 2020. No significant changes have occurred in the meantime. With regard to the effects of the Covid-19 pandemic, we refer to the forecast report in the Group management report as of December 31, 2020, and to the comments in this quarterly report.

Report on forecasts and other statements on expected development

Based on the very good business development in the first half of the year 2021 and the continued positive outlook, the Executive Board decided to raise the outlook for the financial year 2021. The currency-adjusted revenue growth is now expected to be in a range between 12% and 14% (previously: at least high single-digit percentage growth). This is accompanied by a new EBITDA margin target range of 30% to 32% (previously: 27% to 29%).

The outlook is based on the assumption that there will be no deterioration in the economic conditions in the second half of 2021 and that the Corona pandemic will continue to be under control.

Consolidated Statement of Comprehensive Income

for the period from January 1 to June 30, 2021 and 2020

STATEMENT OF COMPREHENSIVE INCOME

Thousands of €	2nd quarter 2021	2nd quarter 2020	6 months 2021	6 months 2020
Revenues	165,866	141,571	324,298	288,195
Other income	2,673	843	4,172	4,802
Operating income	168,540	142,414	328,470	292,997
Cost of goods and services	–5,593	–5,945	–12,270	–11,027
Personnel expenses	–70,787	–64,042	–140,239	–129,553
Depreciation of property, plant and equipment and amortization of intangible assets	–14,090	–12,340	–24,891	–24,952
thereof amortization of intangible assets due to purchase price allocation	–7,853	–6,184	–12,765	–12,547
Other expenses	–35,819	–31,687	–70,060	–69,846
Operating expenses	–126,289	–114,015	–247,460	–235,378
Operating result (EBIT)	42,250	28,399	81,010	57,619
Interest income	11	46	25	235
Interest expenses	–861	–623	–1,499	–1,325
Other financial expenses /income	–321	5	–728	–3
Net finance costs	–1,171	–572	–2,202	–1,092
Share of net profit of associates	83	0	83	0
Earnings before taxes (EBT)	41,162	27,827	78,891	56,526
Income taxes	–7,602	–6,530	–15,522	–13,750
Net income for the year	33,560	21,298	63,369	42,776
Other comprehensive income:
Difference from currency translation	–2,970	–4,850	11,489	–7,906
Items of other comprehensive income that are reclassified subsequently to profit or loss	–2,970	–4,850	11,489	–7,906
Gains /losses from the revaluation of defined benefit pension plans	–2	201	235	–107
Tax effect	1	–57	–67	30
Items of other comprehensive income that will not be reclassified to profit or loss	–1	144	168	–76
Subtotal other comprehensive income	–2,972	–4,705	11,657	–7,982
Total comprehensive income for the year	30,589	16,592	75,026	34,794
Net profit or loss for the period attributable to:
Equity holders of the parent	33,128	21,117	62,574	42,528
Non-controlling interests	432	181	795	249
Net income for the year	33,560	21,298	63,369	42,776
Total comprehensive income for the year attributable to:
Equity holders of the parent	30,709	16,664	73,875	34,501
Non-controlling interests	–121	–72	1,150	293
Total comprehensive income for the year	30,589	16,592	75,026	34,794
Earnings per share (undiluted) in euros	0.29	0.18	0.54	0.37
Earnings per share (diluted) in euros	0.29	0.18	0.54	0.37
Average number of shares outstanding (undiluted)	115,500,000	115,500,000	115,500,000	115,500,000
Average number of shares outstanding (diluted)	115,500,000	115,500,000	115,500,000	115,500,000

Consolidated Statement of Financial Position

as of June 30, 2021 and December 31, 2020

STATEMENT OF FINANCIAL POSITION

Assets Thousands of €	June 30, 2021	December 31, 2020
Current assets
Cash and cash equivalents	167,505	139,320
Trade receivables	63,349	64,571
Inventories	734	642
Income tax receivables	4,907	6,010
Other financial assets	1,601	1,624
Other non-financial assets	28,758	24,204
Current assets, total	266,855	236,371
Non-current assets
Property, plant and equipment	20,915	21,628
Intangible assets	134,843	138,176
Goodwill	421,794	416,706
Right-of-use assets	60,267	61,328
Investments in associates	1,956	1,344
Deferred tax assets	8,392	7,465
Other financial assets	11,561	4,835
Other non-financial assets	1,402	1,809
Non-current assets, total	661,129	653,290

Total assets	927,984	889,661

Equity and liabilities	Thousands of €	June 30, 2021	December 31, 2020
Current liabilities
Short-term borrowings and current portion of long-term loans		58,971	59,601
Trade payables		8,095	11,229
Provisions and accrued liabilities		50,876	56,250
Deferred revenue		157,307	129,469
Income tax liabilities		10,736	9,253
Other financial liabilities		6,814	1,618
Lease liabilities		13,824	13,369
Other non-financial liabilities		17,057	15,023
Current liabilities, total		323,680	295,813
Non-current liabilities
Long-term borrowings without current portion		48,820	70,670
Deferred tax liabilities		25,172	25,222
Pensions and related obligations		3,456	3,083
Provisions		4,216	4,153
Deferred revenue		2,211	2,406
Income tax liabilities		3,163	3,050
Other financial liabilities		2,645	8,731
Lease liabilities		52,833	54,254
Other non-financial liabilities		4,457	4,986
Non-current liabilities, total		146,974	176,556
Equity
Subscribed capital		115,500	115,500
Capital reserve		12,485	12,485
Retained earnings		343,410	315,341
Other reserves		–28,251	–39,408
Equity (group shares)		443,143	403,919
Non-controlling interests		14,187	13,373
Equity, total		457,330	417,292
Total equity and liabilities		927,984	889,661

Consolidated Cash Flow Statement

for the period from January 1 to June 30, 2021 and 2020

CONSOLIDATED STATEMENT OF CASH FLOWS

Thousands of €	6 months 2021	6 months 2020
Profit (before tax)	78,891	56,526
Depreciation and amortization of fixed assets	24,891	24,952
Net finance costs	2,202	1,092
Share of net profit of associates	–83	0
EBITDA	105,901	82,570
Other non-cash transactions	1,682	3,461
Cash flow for the period	107,583	86,031
Change in trade working capital	23,948	16,314
Change in other working capital	–9,287	–9,665
Financing effects	–728	0
Interests received	25	232
Income taxes received	758	2,627
Income taxes paid	–16,524	–17,298
Cash flow from operating activities	105,773	78,242
Capital expenditure	–3,803	–4,678
Changes in liabilities from acquisitions	–1,583	0
Cash received from disposal of fixed assets	139	11
Cash paid for acquisition of subsidiaries, net of cash acquired	–2,219	–83,659
Cash paid for acquisition of other investments	–6,732	0
Cash flow from investing activities	–14,199	–88,326
Dividend payments	–34,650	–32,340
Dividend payments to non-controlling interests	–337	–104
Cash received from bank loans	13,000	0
Repayment of borrowings	–35,650	–27,250
Principal elements of lease payments	–7,425	–6,361
Interests paid	–1,260	–1,326
Cash flow from financing activities	–66,321	–67,382
Changes in cash and cash equivalents	25,253	–77,466
Effect of exchange rate differences on cash and cash equivalents	2,932	–1,479
Cash and cash equivalents at the beginning of the period	139,320	209,143
Cash and cash equivalents at the end of the period	167,505	130,198

Consolidated Statement of Changes in Equity

for the period from January 1 to June 30, 2021 and 2020

		Equity attributable to the parent company's shareholders
Thousands of €	Subscribed capital	Capital reserve	Retained earnings	Translation reserve	Total	Non-controlling interests	Total equity
As of January 1, 2020	115,500	12,485	230,924	–10,396	348,513	103	348,616
Other comprehensive income	-	-	–64	–7,962	–8,026	44	–7,982
Net income for the year	-	-	42,528	-	42,528	249	42,777
Total comprehensive income for the year	0	0	42,463	–7,962	34,501	293	34,794
Acquisition of a subsidiary	-	-	19,931	-	19,931	15,233	35,164
Dividend payments to non-controlling interests	-	-	-	-	0	–104	–104
Dividend payment	-	-	–32,340	-	–32,340	-	–32,340
As of June 30, 2020	115,500	12,485	260,978	–18,358	370,605	15,525	386,130
As of January 1, 2021	115,500	12,485	315,341	–39,408	403,919	13,373	417,292
Other comprehensive income	-	-	145	11,156	11,301	356	11,657
Net income for the year	-	-	62,574	-	62,574	795	63,369
Total comprehensive income for the year	0	0	62,719	11,156	73,875	1,150	75,026
Dividend payments to non-controlling interests	-	-	-	-	0	–337	–337
Dividend payment	-	-	–34,650	-	–34,650	-	–34,650
As of June 30, 2020	115,500	12,485	343,410	–28,252	443,143	14,187	457,330

Notes to the interim financial statements

The condensed consolidated interim financial statements of the Nemetschek Group have been prepared in accordance with the International Financial Reporting Standards (IFRS), as required to be applied in the European Union, and the interpretations of the International Financial Reporting Interpretations Committee (IFRIC) and of the Standing Interpretations Committee (SIC). These interim financial statements have been prepared in accordance with the requirements of IAS 34.

The interim financial statements as of June 30, 2021 have not been audited and have not undergone an audit. Significant changes to the consolidated statement of financial position, the consolidated statement of comprehensive income and the consolidated cash flow statement are detailed in the report on the earnings, financial and asset situation.

The accounting and valuation policies applied in the condensed consolidated interim financial statements are generally based on the same accounting and valuation policies used as a basis for the consolidated financial statements for the 2020 financial year. The presentation of certain prior-year information has been reclassified to conform the current year presentation.

Revenues

REVENUES

Thousands of €	6 months 2021	6 months 2020
Software and licenses	113,256	100,149
Recurring revenues (software service contracts and rental models)	196,052	174,995
Services (consulting and training)	14,552	12,641
Hardware	438	410
	324,298	288,195
REVENUES BY REGION
Thousands of €	6 months 2021	6 months 2020
Germany	80,133	71,188
Europe without Germany	108,335	92,337

Americas 105,937 97,887 Asia/Pacific 28,950 25,753 Rest of World 943 1,030

324,298 288,195

Consolidated Segment Reporting

for the period from January 1 to June 30, 2021 and 2020

SEGMENT REPORTING

2021	Thousands of €	Design	Build	Manage	Media & Entertainment	Reconciliation	Total
Revenue, total		168,381	105,672	21,970	31,178	–2,903	324,298
thereof revenue external		167,403	104,653	21,840	30,401	0	324,298
thereof intersegment revenue		13	1,019	112	777	–1,921	0
EBITDA		55,485	46,267	1,934	10,835	–8,620	105,901
Depreciation/Amortization							–24,891
EBIT							81,010
Net finance costs							–2,202
Share of net profit of associates							83
EBT							78,891

SEGMENT REPORTING

2020	Thousands of € Design	Build	Manage	Media & Entertainment	Reconciliation	Total
Revenue, total	149,775	96,836	19,558	25,583	–3,558	288,195
thereof revenue external	147,917	96,059	19,514	24,898	–193	288,195
thereof intersegment revenue	18	777	19	686	–1,500	0
EBITDA	46,238	36,952	2,708	6,883	–10,211	82,570
Depreciation/Amortization						–24,952
EBIT						57,619
Financial result						–1,092
Share of net profit of associates						0
EBT						56,526

Declaration of the legal representatives

"We hereby confirm that to the best of our knowledge, the interim consolidated financial statements give a true and fair view of the net assets, financial position and results of operations of the Group and the interim Group management report gives a true and fair view of the business performance, including the results of operations and the situation of the Group, and describes the main opportunities and risks and anticipated development of the Group in the remaining financial year, in accordance with the applicable framework for interim financial reporting."

Munich, July 2021

Dr. Axel Kaufmann Viktor Várkonyi Jon Elliott

Financial calendar 2021

October 28, 2021

Publication 3rd Quarter 2021

Contact

Nemetschek SE, München Investor Relations, Konrad-Zuse-Platz 1, 81829 Munich

Contact: Stefanie Zimmermann, VP Investor Relations and Corporate Communication Tel.: +49 89 540459-250, Fax: +49 89 540459-444, E-Mail: szimmermann@nemetschek.com

NEMETSCHEK SE Konrad-Zuse-Platz 1 81829 Munich Tel.: +49 89 540459-0 Fax: +49 89 540459-414 investorrelations@nemetschek.com www.nemetschek.com