Earnings Release • Oct 28, 2016
Earnings Release
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QUARTERLY STATEMENT AS OF SEPTEMBER 30, 2016
Patrik Heider, Spokesman of the Executive Board and CFOO
The Nemetschek Group continued on its course of dynamic development in the third quarter of 2016 and considerably increased its profitability compared to the same period in the previous year.
The figures from the first nine months clearly indicate that Nemetschek is in optimum shape. We are well on the way to another record year. The business development confirms our strategic initiatives such as product innovations and strengthened internationalization. We are growing organically in the two-digit range and have accelerated this growth as a result of our acquisitions.
The Group's net asset structure and financial position continue to be extremely sound. The Nemetschek Group demonstrated an equity ratio of 41.4% as of September 30, 2016 (December 31, 2015: 44.0%). Cash and cash equivalents increased to EUR 103.0 million (December 31, 2015: EUR 84.0 million).
The Design segment continued on its growth course. Revenue rose by 13.2% to EUR 162.3 million (previous year's period: EUR 143.4 million). EBITDA increased over-proportionally compared to revenue by 32.1%, reaching EUR 45.8 million (previous year's period in 2015: EUR 34.7 million). The EBITDA margin rose accordingly from 24.2% to a very high 28.2%. This growth arose from almost all regions and brands.
The strongest growth was achieved in the Build segment. Revenue increased by 42.6% to EUR 62.0 million (previous year's period in 2015: EUR 43.5 million). This is supplemented by inorganic effects totaling EUR 4.6 million as a result of the acquisition of the Finish company Solibri (as of January 1, 2016) and the acquisition of Design Data (as of August 1, 2016), located in the US. Organic growth amounted to 32.6%. Likewise, EBITDA increased considerably by 43.5% to EUR 11.5 million (previous year's period: EUR 8.0 million), which caused the EBITDA margin to improve from 18.5% to 18.6%.
In the Manage segment, it was possible to considerably increase revenue to EUR 5.0 million, a plus of 19.4% compared to the previous year's period (EUR 4.2 million). EBITDA increased by 50.2% to EUR 1.0 million (previous year's period: EUR 0.6 million), which corresponds to a considerably higher EBITDA margin amounting to 19.3% (previous year's period: 15.4%).
The Media & Entertainment segment showed solid growth, rising from 8.3% to EUR 16.1 million (previous year's period: EUR 14.9 million). Despite investments, EBITDA increased by 5.8% to EUR 6.4 million (previous year's period: EUR 6.0 million). The EBITDA margin fell slightly below that of the previous year (40.6%) at 39.7%.
We confirm the forecast for revenue and EBITDA for the current 2016 financial year, a forecast which was already increased at the beginning of October. The new forecast anticipates revenue in the range of EUR 338 million to EUR 341 million (previously: EUR 319 million to EUR 325 million). This results in a planned growth in revenue compared to the previous year (EUR 285.3 million) of +18% to +20% (previously: +12% to +14%). Operating EBITDA (adjusted for the positive one-time effect from the second quarter amounting to EUR 1.9 million) is now expected to be in the range of EUR 89 million to EUR 91 million. This would be an increase compared to the previous year's value (EUR 69.5 million) of +28% to +31% (previous forecast: EUR 77 million to EUR 80 million).
Thank you for your trust!
Yours sincerely
Patrik Heider
Following a weak start to the year and an extremely volatile first half-year, stock markets regained some measure of stability in the third quarter. Uncertainties related to future monetary policy in the US, the Eurozone and in Japan dominated market activities in the third quarter. In Europe, economic and political risks increased following the British referendum. However, the direct impact of a weaker UK economy appears negligible in the global context.
The DAX and TecDAX indexes declined slightly over the year, by just under 2 percent.
Despite some fluctuations, Nemetschek shares closed the first nine months of 2016 with a significant plus. Nemetschek shares started the year at EUR 45.00 on January 4, 2016, reaching a 2016 low of EUR 34.28 on February 11, 2016 before recovering. The results of the Brexit referendum triggered another slide in mid-June. The share price subsequently rallied strongly and closed the first nine months at EUR 54.55 – a gain of approximately 20 percent since the start of the year. Accordingly, the market capitalization of Nemetschek SE amounted to around EUR 2.10 billion as of the end of the third quarter.
DEVELOPMENT OF THE NEMETSCHEK SHARE AS WELL AS OF THE TECDAX AND DAX INDEXED
Nemetschek shares develop better than TecDAX and DAX
As of September 30, 2016, Nemetschek SE's share capital was unchanged at EUR 38,500,000, divided into 38,500,000 no-par value bearer shares.
The free float remained unchanged at 46.43 percent as of September 30, 2016.
* Direct shareholdings as of September 30, 2016
| in EUR million | 3rd Quarter 2016 | 3rd Quarter 2015 | Change | 9 month 2016 | 9 month 2015 | Change |
|---|---|---|---|---|---|---|
| Revenues | 83.9 | 70.7 | 18.5% | 245.4 | 205.9 | 19.2% |
| EBITDA | 21.0 | 16.8 | 24.9% | 66.6 | 49.4 | 34.8% |
| as % of revenue | 25.1% | 23,8% | 27.1% | 24.0% | ||
| EBITDA (w/o one-time effect) | 21.0 | 16.8 | 24.9% | 64.7 | 49.4 | 30.9% |
| as % of revenue | 25.1% | 23.8% | 26.4% | 24.0% | ||
| EBITA | 19.2 | 15.1 | 26.6% | 61.3 | 44.5 | 37.7% |
| as % of revenue | 22.8% | 21.4% | 25.0% | 21.6% | ||
| EBIT | 16.3 | 12.6 | 29.3% | 53.0 | 36.9 | 43.6% |
| as % of revenue | 19.4% | 17,8% | 21.6% | 17.9% | ||
| Net income (group shares) | 12.1 | 8.7 | 38.9% | 36.3 | 24.2 | 49.9% |
| per share in € | 0.31 | 0.23 | 0.94 | 0.63 | ||
| Net income (group shares w/o one-time effect) |
12.1 | 8.7 | 38.9% | 34.9 | 24.2 | 44.4% |
| per share in € | 0.31 | 0.23 | 0.91 | 0.63 | ||
| Net income (group shares) before depreciation of PPA* |
14.2 | 10.5 | 35.6% | 42.3 | 29.6 | 43.0% |
| per share in € | 0.37 | 0.27 | 1.10 | 0.77 | ||
| Cash flow from operating activities | 64.5 | 48.8 | 32.1% | |||
| Free cash flow | 18.7 | 40.8 | –54.1% | |||
| Net liquidity/net debt** | 0.2 | 3.3 | –95.3% | |||
| Equity ratio** | 41.4% | 44.0% | ||||
| Headcount as of balance sheet date | 1,902 | 1,708 | 11.4% |
* Purchase Price Allocation
** Presentation of previous year as of December 31, 2015
The Nemetschek Group increased its revenues as of September 30, 2016 by 19.2% to EUR 245.4 million (previous year: EUR 205.9 million). EBITDA rose over-proportionally compared to revenue. With a plus of 34.8%, EBITDA increased to EUR 66.6 million (previous year: EUR 49.4 million), which corresponds to an operating margin of 27.1% (previous year: 24.0%). The significant increase in EBITDA can be traced back to the continued ongoing growth of the Nemetschek Group as well as a one-time gain from a legal dispute with a former member of the executive board of Nemetschek SE in the amount of EUR 1.9 million. Adjusted for this effect, EBITDA would be EUR 64.7 million and the EBITDA margin 26.4%.
Revenues from software licenses increased to EUR 129.0 million. The Nemetschek Group increased revenues from software licenses in the first nine months by 20.9% to EUR 129.0 million (previous year: EUR 106.7 million). In addition, during the same period, it was possible to raise recurring revenues from software service contracts and rental models by 16.1% to EUR 104.3 million (previous year: EUR 89.9 million). The share of revenues from software licenses compared to total revenues grew slightly from 51.8% to 52.6%.
In terms of region, the revenue impulses originated primarily from abroad. In overseas markets, the Nemetschek Group achieved revenues amounting to EUR 166.0 million, a plus of 20.7% compared to the previous year. The share of revenues from overseas amounted to 67.6%, following 66.8% in the previous year's period. As of September 30, 2016, revenues from within Germany increased by 16.1% to EUR 79.4 million (previous year: EUR 68.4 million).
The one-time gain of EUR 1.9 million explained above was not allocated to the individual segments due to its non-operative character, and is represented in the segment reporting as a reconciliation.
In the Design segment, the Nemetschek Group generated revenue growth of 13.2% to EUR 162.3 million (previous year: EUR 143.4 million). EBITDA increased over-proportionally compared to revenue by 32.1%, reaching EUR 45.8 million (previous year: EUR 34.7 million). This is equivalent to an operating margin of 28.2%, following 24.2% in the previous year.
In the Build segment, revenues clearly rose compared to those of the previous year due to the continued growth of Bluebeam Software, Inc., reaching EUR 62.0 million (previous year: EUR 43.5 million). Organic growth was supplemented by inorganic effects resulting from the acquisition of the companies Solibri (Finland) as of January 1, 2016 and Design Data (USA) as of August 1, 2016. The EBITDA margin amounted to 18.6% (previous year: 18.5%).
The Manage segment sustained the positive development from the first half of the year and as of September 30, 2016 increased revenues by 19.4% to EUR 5.0 million (previous year: EUR 4.2 million). It was possible to raise the EBITDA margin to 19.3% (previous year: 15.4%).
Revenues in the Media & Entertainment segment increased by 8.3% to EUR 16.1 million in the first nine months of 2016. Based on the year-over-year comparison, the EBITDA margin fell slightly to 39.7% (previous year: 40.6%).
Operating expenses rose by 14.7% from EUR 172.6 million to EUR 198.0 million. The resulting material expenses grew by EUR 1.0 million to EUR 8.0 million. Personnel expenses increased by 17.7% from EUR 93.2 million to EUR 109.7 million. Depreciation and amortization rose from EUR 12.5 million to EUR 13.6 million as a result of the purchase price allocation of Solibri Oy as well as greater investments in the previous year. Additionally, other operating expenses rose by 11.3% from EUR 60.0 million to EUR 66.7 million.
In the first nine months, the tax rate of the Nemetschek Group amounted to 28.0% (previous year: 31.0%). The reduction is mainly the result of deferred tax expenses on unrealized intra-Group foreign exchange gains incurred in the previous year. The net income for the year (Group shares) amounted to EUR 36.3 million and thus significantly exceeded the previous year's amount of EUR 24.2 million by 49.9%. Thus the earnings per share amounted to EUR 0.94 (previous year: EUR 0.63). Adjusted for the amortization from the purchase price allocation, net income for the year was 43.0% higher at EUR 42.3 million than in the previous year (EUR 29.6 million), and thus the earnings per share reached EUR 1.10 (previous year: EUR 0.77 per share).
As of September 30, 2016, the Nemetschek Group generated an operating cash flow of EUR 64.5 million, an increase of EUR 32.1% compared to the previous year (previous year: EUR 48.8 million). The rise in operating cash flow is attributable in particular to the 42.6% increase in the net income for the year before taxes. The cash flow from investing activities amounted to EUR –45.8 million (previous year: EUR –8.0 million) and mainly includes payments totaling EUR 40.4 million in connection with acquiring shares of the Design Data Corporation, Nebraska, USA.
The cash flow from financing activities amounted to EUR 1.2 million (previous year: EUR –28.5 million) and mainly includes incoming payments totaling EUR 38.0 million arising from taking out bank loans in connection with the acquisition of Design Data as well as dividend payments amounting to EUR 19.3 million, profit distributions to non-controlling interests totaling EUR 1.2 million and the repayment of bank loans of EUR 15.7 million.
As of September 30, 2016, the Nemetschek Group had cash and cash equivalents at its disposal amounting to EUR 103.0 million (December 31, 2015: EUR 84.0 million).
Mainly due to higher balances of cash as well as higher trade receivables, current assets increased to EUR 154.8 million (December 31, 2015: EUR 125.9 million). The cause of this rise in trade receivables was the persistently high revenue growth of the Nemetschek Group.
Due to the acquisition of Design Data, non-current assets rose to EUR 285.6 million (December 31, 2015: EUR 253.6 million). Within the scope of the preliminary purchase price allocation, the amount of EUR 12.3 million was recognized for technology/customer base and brand as well as goodwill in the amount of EUR 29.5 million.
Deferred revenues increased by EUR 15.6 million to EUR 57.6 million in line with software service contracts invoiced. The balance sheet total amounted to EUR 440.4 million as of September 30, 2016 (December 31, 2015: EUR 379.5 million). Equity rose to EUR 180.3 million (December 31, 2015: EUR 164.8 million). This resulted in an equity ratio of 41.4%.
As of the reporting date, September 30, 2016, the Nemetschek Group employed a staff of 1,902 (September 30, 2015: 1,708). The increase is mainly attributable to the recruitment planned in several Group companies. The acquisition of Design Data with 62 employees contributed to this increase.
There are no significant changes compared to the information provided in the consolidated financial statements as of December 31, 2015.
Please see the opportunities and risks described in the Group management report for the year ended December 31, 2015 for details on significant opportunities and risks for the prospective development of the Nemetschek Group. In the interim period there have been no material changes.
Increased forecast for financial year 2016 confirmed
As a result of the very good business development, the Nemetschek Group confirms the forecast increased at the beginning of October for revenue and EBITDA for the current 2016 financial year. The new forecast anticipates revenue in the range of EUR 338 million to EUR 341 million (previously: EUR 319 million to EUR 325 million). This results in a planned growth in revenue compared to the previous year (EUR 285.3 million) of +18% to +20% (previously: +12% to +14%). Operating EBITDA (adjusted for the positive special effect from the second quarter amounting to EUR 1.9 million) is now expected to be in the range of EUR 89 million to EUR 91 million. This would be an increase compared to the previous year's value (EUR 69.5 million) of +28% to +31% (previous forecast: EUR 77 million to EUR 80 million).
The 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 provisions of IAS 34.
The interim financial statements as of September 30, 2016 have not been audited and have not undergone an audit review. The same accounting policies and calculation methods are applied to the interim financial statements as for the consolidated financial statements dated December 31, 2015. 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 group of companies consolidated is the same as of December 31, 2015, except for the following companies.
Company acquisitions:
||| Design Data Corporation, Nebraska, USA
Effective from August 1, 2016, shares in Design Data Corporation, Nebraska, USA were acquired.
The preliminary purchase price amounted to EUR 42.4 million, within the scope of initial recognition in the consolidated financial statements, the amount of EUR 12.3 million was recognized for technology/customer base and brand as well as goodwill in the amount of EUR 29.5 million. The purchase price allocation as of September 30, 2016 was carried our on the basis of preliminary determinations.
Newly founded:
Munich, October 2016
Patrik Heider Sean Flaherty Viktor Várkonyi
for the period from January 1 to September 30, 2016 and 2015
| Thousands of € | 3rd Quarter 2016 | 3rd Quarter 2015 | 9 months 2016 | 9 months 2015 |
|---|---|---|---|---|
| Revenues | 83,858 | 70,743 | 245,386 | 205,920 |
| Own work capitalized | 0 | 0 | 7 | 7 |
| Other operating income | 973 | 726 | 5,601 | 3,598 |
| Operating income | 84,831 | 71,469 | 250,994 | 209,525 |
| Cost of materials /cost of purchased services | –2,918 | –2,481 | –7,953 | –6,940 |
| Personnel expenses | –38,507 | –32,295 | –109,713 | –93,206 |
| Depreciation of property, plant and equipment and amortization of intangible assets |
–4,721 | –4,224 | –13,552 | –12,475 |
| thereof amortization of intangible assets due to purchase price allocation |
–2,874 | –2,538 | –8,258 | –7,603 |
| Other operating expenses | –22,398 | –19,868 | –66,735 | –59,976 |
| Operating expenses | –68,544 | –58,868 | –197,953 | –172,597 |
| Operating results (EBIT) | 16,287 | 12,601 | 53,041 | 36,928 |
| Interest income | 55 | 35 | 103 | 128 |
| Interest expenses | –211 | –145 | –656 | –493 |
| Share of results of associated companies | –32 | –40 | –105 | 54 |
| Other financial income | –6 | 0 | –11 | 113 |
| Earnings before taxes (EBT) | 16,093 | 12,451 | 52,372 | 36,730 |
| Income taxes | –3,669 | –3,425 | –14,671 | –11,370 |
| Net income for the year | 12,424 | 9,026 | 37,701 | 25,360 |
| Other comprehensive income: | ||||
| Difference from currency translation | 796 | –1,228 | –1,368 | 7,996 |
| Subtotal of items of other comprehensive income that will be reclassified to income in future periods |
796 | –1,228 | –1,368 | 7,996 |
| Gains/losses on revaluation of defined benefit pension plans | –319 | 484 | –450 | –104 |
| Tax effect | 89 | –136 | 126 | 29 |
| Subtotal of items of other comprehensive income that will not be reclassified to income in future periods |
–230 | 348 | –324 | –75 |
| Subtotal other comprehensive income | 566 | –880 | –1,692 | 7,921 |
| Total comprehensive income for the year | 12,990 | 8,146 | 36,009 | 33,281 |
| Net profit or loss for the period attributable to: | ||||
| Equity holders of the parent | 12,075 | 8,695 | 36,263 | 24,194 |
| Non-controlling interests | 349 | 332 | 1,438 | 1,166 |
| Net income for the year | 12,424 | 9,027 | 37,701 | 25,360 |
| Total comprehensive income for the year attributable to: |
||||
| Equity holders of the parent | 12,719 | 7,713 | 34,731 | 31,807 |
| Non-controlling interests | 271 | 433 | 1,278 | 1,474 |
| Total comprehensive income for the year | 12,990 | 8,146 | 36,009 | 33,281 |
| Earnings per share (undiluted) in euros | 0.31 | 0.23 | 0.94 | 0.63 |
| Earnings per share (diluted) in euros | 0.31 | 0.23 | 0.94 | 0.63 |
| Average number of shares outstanding (undiluted, units) | 38,500,000 | 38,500,000 | 38,500,000 | 38,500,000 |
| Average number of shares outstanding (diluted, units) | 38,500,000 | 38,500,000 | 38,500,000 | 38,500,000 |
as of September 30, 2016 and December 31, 2015
| ASSETS Thousands of € |
September 30, 2016 | December 31, 2015 |
|---|---|---|
| Current assets | ||
| Cash and cash equivalents | 103,033 | 83,966 |
| Trade receivables, net | 36,905 | 29,611 |
| Inventories | 603 | 530 |
| Tax refunded claims for income taxes | 2,604 | 2,467 |
| Other current financial assets | 97 | 78 |
| Other current assets | 11,534 | 9,297 |
| Current assets, total | 154,776 | 125,949 |
| Non-current assets | ||
| Property, plant and equipment | 13,886 | 13,792 |
| Intangible assets | 103,976 | 100,761 |
| Goodwill | 163,239 | 134,949 |
| Investments in associates and non-current available-for-sale assets | 1,808 | 1,863 |
| Deferred tax assets | 1,713 | 1,372 |
| Non-current financial assets | 43 | 51 |
| Other non-current assets | 951 | 793 |
| Non-current assets, total | 285,616 | 253,581 |
| Total assets | 440,392 | 379,530 |
|---|---|---|
| EQUITY AND LIABILITIES Thousands of € |
September 30, 2016 | December 31, 2015 |
|---|---|---|
| Current liabilities | ||
| Short-term loans and current portion of long-term loans | 26,144 | 18,577 |
| Trade payables | 5,869 | 6,590 |
| Provisions and accrued liabilities | 29,183 | 25,619 |
| Deferred revenue | 57,624 | 41,996 |
| Income tax liabilities | 6,455 | 3,707 |
| Other current financial obligations | 536 | 571 |
| Other current liabilities | 10,937 | 7,086 |
| Current liabilities, total | 136,748 | 104,146 |
| Non-current liabilities | ||
| Long-term loans without current portion | 76,731 | 62,059 |
| Deferred tax liabilities | 23,710 | 24,315 |
| Pensions and related obligations | 2,146 | 1,744 |
| Non-current financial obligations | 13,160 | 13,732 |
| Other non-current liabilities | 5,383 | 6,617 |
| Non-current liabilities, total | 121,130 | 108,467 |
| Equity | ||
| Subscribed capital | 38,500 | 38,500 |
| Capital reserve | 12,485 | 12,485 |
| Retained earnings | 133,118 | 116,345 |
| Other comprehensive income | –3,803 | –2,498 |
| Equity (Group shares) | 180,300 | 164,832 |
| Non-controlling interests | 2,214 | 2,085 |
| Equity, total | 182,514 | 166,917 |
| Total equity and liabilities | 440,392 | 379,530 |
for the period from January 1 to September 30, 2016 and 2015
| Thousands of € | 2016 | 2015 |
|---|---|---|
| Profit (before tax) | 52,372 | 36,730 |
| Depreciation and amortization of fixed assets | 13,552 | 12,475 |
| Change in pension provision | –48 | 40 |
| Other non-cash transactions | –302 | –12 |
| Portion of the result of non-controlling interests | 105 | –54 |
| Result from disposal of fixed assets | 228 | 110 |
| Cash flow for the period | 65,907 | 49,289 |
| Interest income | –103 | –128 |
| Interest expenses | 656 | 493 |
| Change in other provisions | 2,000 | 312 |
| Change in trade receivables | –4,137 | 649 |
| Change in other assets | –1,563 | 1,359 |
| Change in trade payables | –838 | –1,164 |
| Change in other liabilities | 14,286 | 8,432 |
| Interest received | 76 | 126 |
| Income taxes received | 1,403 | 1,005 |
| Income taxes paid | –13,172 | –11,527 |
| Cash flow from operating activities | 64,515 | 48,846 |
| Capital expenditure | –5,691 | –5,716 |
| Cash received from the disposal of fixed assets | 308 | 133 |
| Cash paid for the purchase of consolidated companies and other business combinations net of cash aquired |
–40,399 | –2,418 |
| Cash flow from investing activities | –45,782 | –8,001 |
| Dividend payments | –19,250 | –15,400 |
| Cash paid to non-controlling interests | –1,162 | –2,044 |
| Cash received from bank loans | 38,000 | 0 |
| Repayment of borrowings | –15,700 | –9,000 |
| Interest paid | –650 | –488 |
| Purchase of non-controlling interests | 0 | –1,577 |
| Cash flow from financing activities | 1,238 | –28,509 |
| Changes in cash and cash equivalents | 19,971 | 12,336 |
| Effect of exchange rate differences on cash and cash equivalents | –904 | 2,215 |
| Cash and cash equivalents at the beginning of the period | 83,966 | 56,968 |
| Cash and cash equivalents at the end of the period | 103,033 | 71,519 |
for the period from January 1 to September 30, 2016 and 2015
| 2016 | Thousands of € | Total | Elimination/ Reconciliation |
Design | Build | Manage | Media & Entertainment |
|---|---|---|---|---|---|---|---|
| Revenue, external | 245,386 | 162,321 | 61,965 | 4,967 | 16,133 | ||
| Intersegment revenue | –1,668 | 0 | 549 | 5 | 1,114 | ||
| Total revenue | 245,386 | –1,668 | 162,321 | 62,514 | 4,972 | 17,247 | |
| EBITDA | 66,593 | 1,900 | 45,786 | 11,549 | 960 | 6,398 | |
| Depreciation/amortization | –13,552 | –5,242 | –7,990 | –39 | –281 | ||
| Segment operating result (EBIT) |
53,041 | 1,900 | 40,544 | 3,559 | 921 | 6,117 |
The reconciliation item kEUR 1,900 results from an on-time effect, which could not be allocated to the segments
| 2015 | Thousands of € | Total | Elimination | Design | Build | Manage | Media & Entertainment |
|---|---|---|---|---|---|---|---|
| Revenue, external | 205,920 | 143,395 | 43,465 | 4,161 | 14,899 | ||
| Intersegment revenue | –1,428 | 1 | 378 | 5 | 1,044 | ||
| Total revenue | 205,920 | –1,428 | 143,396 | 43,843 | 4,166 | 15,943 | |
| EBITDA | 49,403 | 34,668 | 8,048 | 639 | 6,048 | ||
| Depreciation/amortization | –12,475 | –5,709 | –6,495 | –34 | –237 | ||
| Segment operating result (EBIT) |
36,928 | 28,958 | 1,554 | 606 | 5,810 |
for the period from January 1 to September 30, 2016 and 2015
| Equity attributable to the parent company's shareholders | |||||||
|---|---|---|---|---|---|---|---|
| Thousands of € | Subscribed capital |
Capital reserve | Retained earnings |
currency conversion |
Total | Non-controlling interests |
Total equity |
| As of January 1, 2015 | 9,625 | 41,360 | 96,621 | –12,625 | 134,981 | 1,595 | 136,576 |
| Difference from currency translation |
7,665 | 7,665 | 331 | 7,996 | |||
| Remeasurement gains/ losses from pensions and related obligations |
–52 | –52 | –23 | –75 | |||
| Net income for the year | 24,194 | 24,194 | 1,166 | 25,360 | |||
| Total comprehensive income for the year |
0 | 0 | 24,142 | 7,665 | 31,807 | 1,474 | 33,281 |
| Increase of share capital through corporate funds |
28,875 | –28,875 | |||||
| Share purchase from non-controlling interests |
–543 | –543 | 537 | –6 | |||
| Dividend payments to non-controlling interests |
–202 | –202 | –1,842 | –2,044 | |||
| Dividend payment | –15,400 | –15,400 | –15,400 | ||||
| As of September 30, 2015 | 38,500 | 12,485 | 104,618 | –4,960 | 150,643 | 1,764 | 152,407 |
| As of January 1, 2016 | 38,500 | 12,485 | 116,345 | –2,498 | 164,832 | 2,085 | 166,917 |
| Difference from currency translation |
–1,305 | –1,305 | –63 | –1,368 | |||
| Remeasurement gains/ losses from pensions and related obligations |
–227 | –227 | –97 | –324 | |||
| Net income for the year | 36,263 | 36,263 | 1,438 | 37,701 | |||
| Total comprehensive income for the year |
0 | 0 | 36,036 | –1,305 | 34,731 | 1,278 | 36,009 |
| Acquisition of non controlling interests |
|||||||
| Dividend payments to non-controlling interests |
–13 | –13 | –1,149 | –1,162 | |||
| Dividend payment | –19,250 | –19,250 | –19,250 | ||||
| As of September 30, 2016 | 38,500 | 12,485 | 133,118 | –3,803 | 180,300 | 2,214 | 182,514 |
Nemetschek SE, Munich Investor Relations, Konrad-Zuse-Platz 1, 81829 Munich
Contact: Stefanie Zimmermann, Head of Investor Relations and Corporate Communication Tel. +49 89 92793-1229, Fax +49 89 92793-4229 E-Mail: [email protected]
NEMETSCHEK SE Konrad-Zuse-Platz 1 81829 Munich Tel. +49 89 92793-0 Fax +49 89 92793-5511 [email protected] www.nemetschek.com
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