Nemetschek SE

Quarterly Report • Oct 30, 2014

QUARTERLY STATEMENT AS OF SEPTEMBER 30 2 0 1 4

T O O U R S H A R E H O L D E R S

Patrik Heider, CFOO and Spokesman of the Executive Board

Dear shareholders, ladies and gentlemen,

The Nemetschek Group was again able to continue its profitable growth path in the third quarter of 2014 and substantially improve its earnings despite acquisition costs for Bluebeam.

SIGNIFICANT INCREASE IN PROFITABILITY DESPITE ACQUISITION COSTS

Overall, Group revenues rose in the first nine months of 2014 by 14.3% to EUR 153.5 million (previous year: EUR 134.2 million). On a quarterly basis, we generated revenues amounting to EUR 51.2 million, representing growth of 11.9% compared to the previous year's quarter (EUR 45.8 million). The operating result again climbed above-proportionally compared to revenues. In total, earnings before interest, taxes, depreciation and amortization (EBITDA) increased in the first nine months of 2014 to EUR 38.8 million (previous year: EUR 31.8 million), which represents a rise of 22.1%. The EBITDA margin improved within one year from 23.7% to 25.3%. From a quarterly perspective we were able to increase the EBITDA in the third quarter

to EUR 13.2 million, a rise of 16.0% compared to the previous year's quarter; this despite acquisition costs for Bluebeam. Net income for the year (Group shares) improved significantly as of September 30, 2014: at EUR 22.3 million, this was 33.7% higher than in the prior year (EUR 16.7 million). Accordingly, the earnings per share rose from EUR 1.74 in the previous year to EUR 2.32. On a quarterly basis, net income for the year (Group shares) rose by 25.3% to EUR 7.9 million, which corresponds to earnings per share of EUR 0.82 (previous year: EUR 0.66).

GROWTH IN ALL SIGNIFICANT REGIONS

We continued to pursue our international growth strategy and to expand our market presence. In total, non-domestic revenues climbed by 13.4% to EUR 91.3 million (previous year: EUR 80.5 million). Growth regions include Asia – in particular Japan – and North and Latin America. Germany continued to develop positively: With a plus of 15.8% revenues amounted to EUR 62.2 million (previous year: EUR 53.7 million).

REVENUE GROWTH FOR SOFTWARE LICENSES AND SOFTWARE SERVICE CONTRACTS

With a plus of 14.3%, by September 30, 2014 revenues from software licenses had risen to EUR 71.8 million (previous year: EUR 62.8 million). Thus, licenses make up 46.8% of total revenues (previous year: 46.8%). We were able to increase revenues from software service contracts to EUR 73.8 million, a plus of 14.7% compared to the previous year (EUR 64.4 million). Accordingly, the proportion compared to total revenues amounted to 48.1% (previous year: 48.0%). Nemetschek will continue to drive growth in the two divisions in the future. Thus, the license business secures new and existing customers; the service contracts in turn ensure recurring revenues and, thus, also for higher planning security.

STRONG OPERATING CASH FLOW AND HIGH EQUITY RATIO

The Nemetschek Group also showed a very strong balance sheet structure and a positive development in operating cash flow towards the end of the third quarter 2014. Operating cash flow rose in the first nine months of 2014 by 27.4% to EUR 36.5 million (previous year: EUR 28.7 million). The free cash flow also rose strongly by 32.8% to EUR 33.0 million (previous year: EUR 24.8 million). The equity ratio amounted to 63.9% as at September 30, 2014.

DEVELOPMENT OF THE SEGMENTS

The growth driver of the Nemetschek Group is the Design segment. At 17.8% revenues grew substantially to EUR 126.4 million (previous year: EUR 107.3 million). The brands Vectorworks and Graphisoft have contributed in particular to this positive development. Already at the end of the second quarter Graphisoft had successfully introduced the new release of its BIM software ArchiCAD with numerous innovations such as CineRender. Likewise, the new BIMcloud, which allows the project team to work together in real time regardless of location. Vectorworks is convincing with its BIM software Vectorworks 2015, published in the third quarter, which, among other things, offers better cooperation, more efficient workflows and extended

graphics modules. EBITDA climbed above proportionally to revenue: at EUR 31.0 million, this was 38.3% higher than compared to the prior year (EUR 22.4 million). The EBITDA margin rose accordingly from 20.9% in the prior year to 24.5% as at September 30, 2014.

In the Build segment revenues of EUR 10.7 million were about 5.5% below the prior year level (EUR 11.3 million). The decline in revenues was mainly as a result of projects which were either not realized to the extent planed or were postponed. Furthermore, the longer than planned development times for commercial and technical solutions lead to shifts in revenue in the subsequent year. EBITDA reached an amount of EUR 2.0 million (previous year: EUR 3.9 million), which represents an EBITDA margin of 18.7% (previous year: 34.2%). The decline in the EBITDA margin is in particular due to the end of the capitalization of development work. In the previous year the capitalised development costs remaining amounted to about EUR 1.2 million, whereby in this year there was no further capitalization.

Revenues in the Manage segment rose slightly by 2.3% to EUR 3.7 million compared to the previous year. In particular in the third quarter we were aware of customer reservation and a postponement of investments due to economic development. Due to planned investments below those of the prior year EBITDA amounted to EUR 0.6 million and, thus, an EBITDA margin of 16.9% resulted (previous year: 21.5%).

The Multimedia segment showed solid revenue growth of 5.5%. Overall, revenues in the first nine months amounted to EUR 12.6 million (previous year: EUR 12.0 million). The EBITDA margin at 41.0% is still at a high level (previous year: 39.4%).

ACQUISITION OF US SOFTWARE PROVIDER BLUEBEAM

At the start of October 2014 we announced our takeover of Bluebeam, the leading provider of PDF-based workflow solutions for digital working processes and collaboration in the AEC Industry. Bluebeam is an innovative and strongly growing company with over 650,000 users worldwide. Today, its customers include more than 74% of the top US companies in the construction industry.

Bluebeam fits perfectly in our solutions portfolio for the whole construction process and with our obligation to open standards, since through the provision of digital and paperless working processes the platform technology called "Bluebeam Revu" substantially improves the collaboration of all those involved in the construction process. All Nemetschek Group solutions can be integrated into the workflow of Bluebeam using the simple PDF conversion. With the acquisition we not only extend our range of solutions but also reinforce our international market presence in North America.

Bluebeam, with its registered office in Pasadena, California, was founded in the year 2002 and employs about 150 staff. In the financial year 2013 Bluebeam achieved a growth in sales of 48% to approx. USD 22.4 million. In the first half year of 2014 Bluebeam was able to continue to grow and generate revenues of USD 16.5 million and an operating result (EBIT) of USD 3.2 million. The purchase price for the acquisition amounts to around USD 100 million (cash/debt-free).

SUCCESSFUL 9-MONTH STATUS: PROSPECTS FOR 2014 REINFORCED

Our current figures show that: The Nemetschek Group is on a very positive course for achieving the objectives set for the whole year. Our forecast, prepared at the start of the year, of achieving revenues within a range of between EUR 207 and 212 million (increase of 11% to 14%) and an EBITDA margin of between 23% and 25% is substantiated herewith. Currently, we are slightly above our forecast with both key figures and, thus, we are very confident that we will close the whole year 2014 successfully. We will adjust the forecast appropriately for completion of the acquisition of Bluebeam.

Thank you for your trust!

Yours

Patrik Heider

N E M E T S C H E K S H A R E

WEAKER ECONOMIC INDICATORS PUT PRESSURE ON STOCK MARKETS

Influenced by weak economic data from the USA and the euro zone, stock markets have fallen in the last few weeks. For a long time it looked as if the German economy could not be affected by the Ukraine conflict or the weak volumes demand in several European countries or by the dent in China's growth. Now, indicators such as the ifo business climate index and economic expectations are also falling in Germany. As a result of this the German stock markets showed a decline and were characterized by high volatility.

Whereas the leading index DAX has not shown growth in the first nine months the TecDAX has risen by around 7% since the beginning of the year. The adjustment of the stock markets started above all in October after the reporting date under review..

NEMETSCHEK SHARE PRICE DEVELOPMENT SINCE THE START OF 2014

The Nemetschek share price has risen significantly to EUR 76.30 since the start of the year. Thus, overall growth was at about 52 percent as at September 30, 2014. The market capitalization of the Nemetschek AG rose accordingly to around EUR 730 million. Even after the closing date under review the Nemetschek share was able to maintain this level despite several upward and downward fluctuations.

SHAREHOLDER STRUCTURE

Nemetschek Aktiengesellschaft's share capital as of September 30, 2014 was unchanged at EUR 9,625,000.00 and was divided into 9,625,000 no-par value bearer shares.

In total the diversified holdings amounted to 46.43 percent as of September 30, 2014.

* Direct shareholdings as of September 30, 2014

DIVIDEND PAYMENT OF EURO 1.30 EURO PER SHARE

The dividend proposal was accepted by 99.96 percent of the annual general meeting, which took place this year on May 20, 2014. Nemetschek increased the dividend from the previous year of EUR 1.15 per share to EUR 1.30 per share. A total of EUR 12.5 million was distributed to the shareholders. Nemetschek AG pursues a long-term dividend policy and would also like to continue to involve its shareholders in the future success and business development of the company.

KEY FIGURES

in million €	3rd Quarter 2014	3rd Quarter 2013	Change	9 month 2014	9 month 2013	Change
Revenues	51.2	45.8	11.9%	153.5	134.2	14.3%
EBITDA	13.2	11.4	16.0%	38.8	31.8	22.1%
as % of revenue	25.9 %	25.0 %		25.3 %	23.7 %
EBITA	11.9	10.4	14.6%	35.2	28.6	22.8%
as % of revenue	23.2 %	22.6 %		22.9 %	21.3 %
EBIT	10.9	8.8	23.4%	32.2	24.0	34.3%
as % of revenue	21.2 %	19.2 %		21.0 %	17.9 %
Net income (group shares)	7.9	6.3	25.3%	22.3	16.7	33.7%
per share in €	0.82	0.66		2.32	1.74
Net income (group shares) before depreciation of PPA**	8.8	7.7	13.7%	24.8	20.9	19.0%
per share in €	0.91	0.65		2.58	2.17
Cash flow from operating activities				36.5	28.7	27.4%
Free Cash Flow				33.0	24.8	32.8%
Net cash*				66.0	48.6	35.9%
Equity*				63.9%	66.0%
Headcount as of balance sheet date				1,397	1,267	10.3%

* Presentation of previous year as of December 31, 2013

** Purchase Price Allocation

M M P T T I N T E R M A N A G R E O I E E N R

+REPORT ON THE EARNINGS, FINANCIAL AND ASSET SITUATION

INCREASE IN SALES OF 14.3 %, HIGH EBITDA MARGIN OF 25.3 %

The Nemetschek Group increased its revenues in the first nine months by 14.3% to EUR 153.5 million (previous year: EUR 134.2 million). EBITDA amounted to EUR 38.8 million, an increase on the prior year of 22.1% (previous year: EUR 31.8 million). The operating margin rose by 1.6 percentage points from 23.7% to 25.3%.

REVENUES FROM SOFTWARE LICENSES AND SOFTWARE-SERVICE CONTRACTS ROSE

Revenues from software service contracts increased by 14.7 percent

The Nemetschek Group increased revenue from software contracts up to September 30, 2014 by 14.3% to EUR 71.8 million (previous year: EUR 62.8 million). Additionally, in the same period the revenues from software service contracts were increased by 14.7% to EUR 73.8 million (previous year: EUR 64.4 million). The share of revenues from software contracts compared to total revenues amounts to 46.8% (previous year 46.8%). We continued to pursue our international growth strategy and to expand our market presence. In total, nondomestic revenues climbed by 13.4% to EUR 91.3 million (previous year: EUR 80.5 million). Growth regions included Asia – in particular Japan – and North and Latin America. Germany continued to develop positively: With a plus of 15.8% revenues amounted to EUR 62.2 million (previous year: EUR 53.7 million).

SUMMARY OF SEGMENTS

In the Design segment the Nemetschek Group generated revenue growth of 17.8% to EUR 126.4 million (previous year: EUR 107.3 million). The EBITDA increased to EUR 31.0 million (previous year: EUR 22.4 million). This is equivalent to an operating margin of 24.5% after 20.9% in the previous year. In the Build segment revenues of EUR 10.7 million were below the prior year level (EUR 11.3 million). The decline in revenues mainly results from projects which were either not realized to the extent planed or were postponed. Furthermore, the longer than planned development times for commercial and technical solutions lead to postponements in revenues in the subsequent year. The EBITDA margin amounted to 18.7% (previous year: 34.2%). The decrease in the EBITDA margin was due to own work capitalised in the previous year for the NEVARIS software solution. In 2014 there was no further own work capitalised. The Manage segment increased revenues by 2.3% to EUR 3.7 million, whereby the EBITDA margin reached 16.9% (previous year: 21.5%) due to the planned investments. The Multimedia segment showed stable development. With a plus of almost 5.5% revenues climbed to EUR 12.6 million. The EBITDA margin remained at the high 41.0% (previous year 39.4%).

EARNINGS PER SHARE AT EUR 2.32

The operating expenses rose by 9.7% from EUR 113.0 million to EUR 124.0 million. Material expenses decreased by EUR 0.4 million to EUR 5.9 million. Personnel expenses increased by 14.6% from EUR 57.7 million to EUR 66.2 million. Amortization and depreciation decreased by 15.2% from EUR 7.8 million to EUR 6.6 million. Furthermore other operating expenses rose by 10.1% from EUR 41.1 million to EUR 45.2 million.

Earnings per share increased by 33.7 percent to 2.32 EUR The group tax rate amounted on the first nine months to 26.9% and thus remained at the previous year's level (26.9%). The net income for the year (group shares) amounted to EUR 22.3 million and thus exceeded the prior year amount of EUR 16.7 million by 33.7%. Thus the earnings per share amounted to EUR 2.32 (previous year: EUR 1.74).

OPERATING CASHFLOW OF EUR 36.5 MILLION

The Nemetschek Group generated an operating cash flow in the first nine months of the year 2014 amounting to EUR 36.5 million (previous year: EUR 28.7 million). The reason for the increase is mainly due to the higher result before taxes compared to the previous year of EUR 8.8 million. The cash flow from investing activities of EUR –3.6 million was EUR 0.3 million below the prior year level (EUR –3.9 million). The cash flow from financing activities of EUR –16.4 million (previous year: EUR –13.1 million) includes the dividend payment of EUR 12.5 million, dividends to minorities of EUR 1.9 million as well as interest payments of EUR 1.1 million.

HIGHER BALANCE OF LIQUID FUNDS OF EUR 66.0 MILLION

At the quarter end the Nemetschek Group held liquid funds of EUR 66.0 million (December 31, 2013: EUR 48.6 million).

Mainly due to this increase in liquidity the current assets increased to EUR 98.1 million (December 31, 2013: EUR 79.6 million). Non-current assets increased by EUR 0.7 million to EUR 99.6 million. The reason for this was in particular the intangible assets taken over as part of the initial consolidation of hartmann technologies Gesellschaft mbH, Berlin, as well as the goodwill arising from this. Within other intangible assets additions from the initial consolidation of EUR 2.3 million were faced by scheduled amortization and depreciation of EUR 5.0 million. Goodwill increased mainly due to EUR 1.7 million as a result of the business acquisition. Furthermore the shares in associated entities increased by EUR 0.8 million due to the purchase of shares in Sablono GmbH, Berlin.

EQUITY RATIO AT 63.9 PERCENT

The deferred revenues increased by EUR 9.1 million to EUR 32.6 million in line with software service contracts invoiced. The balance sheet total was EUR 197.7 million as of September 30, 2014 (December 31, 2013: EUR 178.5 million). Equity amounted to EUR 126.4 million (December 31, 2013: EUR 118.2 million), thus the equity ratio amounted to 63.9% after 66.2% as of December 31, 2013.

EVENTS AFTER THE END OF THE INTERIM REPORTING PERIOD

The Nemetschek Group announced on October 3, 2014 that it would take over 100% of Bluebeam Software Inc. with its registered office in Pasadena, California, USA. The completion of the acquisition is subject to agreement by the shareholders of Bluebeam and is expected at the end of October 2014. The purchase price for the acquisition amounts to around USD 100 million (cash-free/debt-free).

EMPLOYEES

At the reporting date September 30, 2014, the Nemetschek Group employed 1,397 staff (September 30, 2013: 1,267). The increase mainly results from the acquisition of the DDS Group as at November 30, 2013 (81 employees) and is the result of the recruitment planned in several group companies.

REPORT ON SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

There are no significant changes compared to the information provided in the consolidated financial statements as of December 31, 2013.

OPPORTUNITY AND RISK REPORT

With regard to the material opportunities and risks for the prospective development of the Nemetschek Group we refer to the opportunities and risks described in the group management report for the year ended December 31, 2013. In the interim period there have been no material changes.

REPORT ON FORECASTS AND OTHER STATEMENTS ON PROSPECTIVE DEVELOPMENT

Our current figures show that: The Nemetschek Group is on a very positive course for achieving the objectives set for the whole year. Our forecast, prepared at the start of the year, of achieving revenues within a range of between EUR 207 and 212 million (increase of 11% to 14%) and an EBITDA margin of between 23% and 25% is substantiated herewith. Currently, we are slightly above our forecast with both key figures and, thus, we are very confident that we will close the whole year 2014 successfully. We will adjust the forecast appropriately for completion of the acquisition of Bluebeam.

NOTES TO THE INTERIM FINANCIAL STATEMENTS BASED ON IFRS

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) as well as of the Standing Interpretations Committee (SIC). These interim financial statements were prepared in agreement with the requirements of IAS 34.

Equity ratio at 63.9 percent

Forecast for the fiscal year 2014 confirmed

The interim financial statements as of September 30, 2014 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 statement dated December 31, 2013. 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.

ADJUSTMENT FROM EARLIER PERIODS

In the fiscal year 2013 it was ascertained that the other intangible assets and goodwill purchased, as part of the Graphisoft acquisition as at December 31, 2006, were recorded in Euro currency and appropriately carried forward in subsequent years. IAS 21.47, however, requires accounting in the functional currency of the foreign business. This leads to the following adjustments in the interim financial statements as of September 30, 2014. The effects of the retrospective recording of the foreign currency differences on the opening balance sheet amounts as at January 1, 2013 are disclosed in equity.

The changes in the consolidated statement of comprehensive income are as follows:

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

		3rd Quarter 2013			9 month 2013
Thousands of €	before adjustment	Correction of prior periods	after adjustment	before adjustment	Correction of prior periods	after adjustment
Operating expenses	–37,872	204	–37,668	–113,562	611	–112,951
Depreciation of property, plant and equipment and amortization of intangible assets thereof amorization of intangible assets due to purchase price allocation	– 2,817 – 1,762	204 204	– 2,613 – 1,559	– 8,441 – 5,287	611 611	– 7,830 – 4,676
Earnings before taxes	8,601	204	8,804	23,377	611	23,988
Income taxes	– 2,195	– 21	– 2,216	– 6,400	– 62	– 6,462
Net income for the year	6,406	183	6,589	16,977	549	17,526
Other comprehensive income:
Difference from currency translation	– 358	– 247	– 605	– 315	– 737	– 1,052
Subtotal of items of other compre hensive income that will be reclassi fied to profit or loss in future periods	–358	–247	–605	–315	–737	–1,052
Net income for the year attributable to:	6,406	183	6,589	16,977	549	17,526
thereof equity holders of the parent	6,147	182	6,329	16,160	548	16,708
minority interests	259	1	260	817	1	818
Total comprehensive income for the year attributable to:	6,048	–64	5,984	16,701	–188	16,513
thereof equity holders of the parent	5,801	– 124	5,677	15,886	– 188	15,698
minority interests	247	60	307	815	0	815
Earnings per share in €	0.64	0.02	0.66	1.68	0.06	1.74

The group of companies consolidated is the same as at December 31, 2013 except for the following changes:

In April 2014 the newly founded Nemetschek Software Engineering (Shanghai) Co. Ltd., Shanghai, China was included in the consolidated financial statements for the first time. There were no material effects on the consolidated financial statements.

Under the purchase agreements dated July 1, 2014 and on July 21, 2014 a total of 86.5% of the shares in hartmann technologies Gesellschaft mbH, Berlin, were purchased for an acquisition price of EUR 678 thousand. Additionally, the purchase price includes an additional purchase price obligation which is oriented toward future revenue growth, as well as EBIT threshold values. Based on current planning by the company there would be an additional purchase price payment in the financial year 2017 of EUR 1,952 thousand from this agreement. As part of the initial consolidation this obligation was accounted for at its discounted value of EUR 1,808 thousand. Furthermore intangible assets increased by EUR 1.090 thousand due to the preliminary purchase price allocation (PPA). hartmann develops and sells software solutions for building model oriented projects in the construction industry. With the construction technology solution NEVARIS Nemetschek today already covers the process from budgeting and tendering, awarding and settlement (AVA) through to performance of construction and controlling. Through the investment the portfolio of services has been expanded by detailed cost and quantity takeoff. The company was included in the consolidated financial statements for the first time in July 2014. Since its initial consolidation the company has contributed to the consolidated financial statements of the Nemetschek Group with revenues of EUR 153 thousand and a result of EUR –272 thousand. If the acquired company had already been included in the consolidated financial statements from January 1, 2014, the effect on consolidated revenues would have been EUR 622 thousand and on the consolidated result before tax EUR –515 thousand. The assets and liabilities acquired by the purchase price are shown in the following table:

HARTMANN TECHNOLOGIES

thousand €	2014
Goodwill	1,778
Other intangible assets	2,322
Property, plant and equipment	43
Deferred tax assets	340
Trade accounts receivable	103
Other current assets	10
Total assets acquired	4,596
Deferred tax liabilities	718
Other current provisions	71
Trade accounts payable	17
Other current non-financial liabilities	1,193
Total liabilities assumed	1,999
Net assets acquired	2,597
minority interests	–111
Purchase price	2,486

20.6% of the shares in Sablono GmbH, Berlin were acquired for a purchase price of EUR 768 thousand under the purchase contract dated July 2, 2014. The company was included in the consolidated financial statements for the first time in July 2014.

Munich, October 27, 2014

Patrik Heider Sean Flaherty Viktor Várkonyi

As the result of rounding it is possible that the individual figures in this quarterly report do not exactly add up to the totals given and that the percentage disclosures do not reflect the absolute values from which they are derived.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

for the period from January 1 to September 30, 2014 and 2013

STATEMENT OF COMPREHENSIVE INCOME

Thousands of €	3rd Quarter 2014	3rd Quar ter 2013 adjusted*	9 month 2014	9 month 2013 adjusted*
Revenues	51,201	45,767	153,467	134,226
Own work capitalized	7	422	7	1,253
Other operating income	991	286	2,671	1,437
Operating Income	52,199	46,475	156,145	136,916
Cost of materials / cost of purchased services	– 2,111	– 2,008	– 5,908	– 6,278
Personnel expenses	– 21,678	– 19,321	– 66,168	– 57,742
Depreciation of property, plant and equipment and amortization of intangible assets	– 2,379	– 2,613	– 6,636	– 7,830
thereof amortization of intangible assets due to purchase price allocation	– 1,011	– 1,559	– 2,982	– 4,676
Other operating expenses	– 15,163	– 13,726	– 45,242	– 41,101
Operating expenses	–41,331	–37,668	–123,954	–112,951
Operating results (EBIT)	10,868	8,806	32,191	23,965
Interest income	27	0	99	84
Interest expenses	– 4	– 2	– 55	– 2
Income/Losses from associates	– 15	0	– 15	– 59
Earnings before taxes	10,876	8,804	32,220	23,988
Income taxes	– 2,577	– 2,216	– 8,680	– 6,462
Net income for the year	8,299	6,589	23,540	17,526
Other comprehensive income:
Difference from currency translation	1,225	– 605	– 379	– 1,052
Subtotal of items of other comprehensive income that will be reclassified to income in future periods:	1,225	–605	–379	–1,052
Actuarial gains /losses from pensions and related obligations	– 677	1	– 814	54
Tax effect	206	– 1	244	– 15
Subtotal of items of other comprehensive income that will not be reclassified to income in future periods:	– 471	0	– 570	39
Subtotal other comprehensive income	754	–605	–949	–1,013
Total comprehensive income for the year	9,053	5,984	22,591	16,513
Net income for the year attributable to:
Equity holders of the parent	7,930	6,329	22,341	16,708
Minority interests	369	260	1,199	818
Net income for the year	8,299	6,589	23,540	17,526
Total comprehensive income for the year attributable to:
Equity holders of the parent	8,767	5,677	21,499	15,698
Minority interests	286	307	1,092	815
Total comprehensive income for the year	9,053	5,984	22,591	16,513
Earnings per share (undiluted) in euros	0.82	0.66	2.32	1.74
Earnings per share (diluted) in euros	0.82	0.66	2.32	1.74
Average number of shares outstanding (undiluted)	9,625,000	9,625,000	9,625,000	9,625,000
Average number of shares outstanding (diluted)	9,625,000	9,625,000	9,625,000	9,625,000

* Some figures differ due to adjustments made from the amounts in the consolidated financial statements of fiscal year 2013. For details, see "Notes to the interim financial statements based on IFRS"

CONSOLIDATED SEGMENT REPORTING

for the period from January 1 to September 30, 2014 and 2013

SEGMENT REPORTING

2014	Thousands of €	Total	Consolidation	Design	Build	Manage	Multimedia
Revenue, external		153,467		126,423	10,684	3,734	12,626
Intersegment revenue		0	– 988	1	208	5	774
Total revenue		153,467	–988	126,424	10,892	3,739	13,400
EBITDA		38,827		31,032	1,993	631	5,171
	Depreciation/Amortization	– 6,636		– 5,630	– 810	– 36	– 160
(EBIT)	Segment Operating result	32,191		25,402	1,183	595	5,011

2013	Thousands of €	Total	Consolidation	Design	Build	Manage	Multimedia
Revenue, external		134,226		107,308	11,304	3,651	11,963
Intersegment revenue		0	– 498	3	1	5	489
Total revenue		134,226	–498	107,311	11,305	3,656	12,452
EBITDA		31,795		22,433	3,864	785	4,713
Depreciation/Amortization		– 7,830		– 7,126	– 502	– 28	– 174
Segment Operating result (EBIT)		23,965		15,307	3,362	757	4,539

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

as of September 30, 2014 and December 31, 2013

STATEMENT OF FINANCIAL POSITION

ASSETS Thousands of €	September 30, 2014	December 31, 2013
Current assets
Cash and cash equivalents	66,001	48,553
Trade receivables, net	21,911	21,889
Inventories	876	728
Tax refunded claims for income taxes	961	694
Current financial assets	10	27
Other current assets	8,351	7,713
Current assets, total	98,110	79,604
Non-current assets
Property, plant and equipment	5,410	5,332
Intangible assets	28,562	30,948
Goodwill	61,797	60,112
Associates /investments	917	164
Deferred tax assets	2,052	1,492
Non-current financial assets	73	79
Other non-current assets	816	772
Non-current assets, total	99,627	98,899
Total assets	197,737	178,503

EQUITY AND LIABILITIES	Thousands of €	September 30, 2014	December 31, 2013
Current liabilities
Trade payables		3,594	5,248
Provisions and accrued liabilities		16,078	14,823
Deferred revenue		32,591	23,464
Income tax liabilities		3,011	3,327
Current financial obligations		1,093	1,135
Other current liabilities		6,902	5,962
Current liabilities, total		63,269	53,959
Deferred tax liabilities		4,095	4,078
Pensions and related obligations		2,158	1,203
Non-current financial obligations		1,811	1,098
Non-current liabilities, total		8,064	6,379
Equity
Subscribed capital		9,625	9,625
Capital reserve		41,360	41,360
Revenue reserve		52	52
Other comprehensive income		– 13,227	– 12,785
Retained earnings		87,609	78,315
Equity (Group shares)		125,419	116,567
Minority interests		985	1,598
Equity, total		126,404	118,165
Total equity and liabilities		197,737	178,503

CONSOLIDATED CASH FLOW STATEMENT

for the period from January 1 to September 30, 2014 and 2013

Thousands of €	2014	2013
Profit (before tax)	32,220	23,377
Depreciation and amortization of fixed assets	6,636	8,441
Change in pension provision	140	73
Other non-cash transactions	365	429*
Losses from associates	15	59
Losses from disposals of fixed assets	140	115
Cash flow for the period	39,516	32,494
Interest income	– 99	– 84*
Interest expenses	55	2*
Change in other provisions and accrued liabilities	1,255	– 288
Change in trade receivables	– 284	– 789
Change in other assets	1,421	– 492*
Change in trade payables	– 1,671	– 1,389
Change in other liabilities	4,644	4,943*
Interest received	90	71
Income taxes received	713	1,045
Income taxes paid	– 9,103	– 6,841
Cash flow from operating activities	36,537	28,672
Capital expenditure	– 2,486	– 3,862
Cash received from disposal of minority shares	0	6
Cash received from the disposal of fixed assets	249	40
Cash paid for acquisition of a subsidiary	– 879	– 47
Cash paid for acquired shares of associates	– 468	0
Cash flow from investing activities	–3,584	–3,863
Dividend payments	– 12,513	– 11,069
Minority interests paid	– 1,949	– 912
Interest paid	– 1,131	– 1,151
Repayment of borrowings	– 830	0
Cash flow from financing activities	–16,423	–13,132
Changes in cash and cash equivalents	16,530	11,677
Effect of exchange rate differences on cash and cash equivalents	918	–156
Cash and cash equivalents at the beginning of the period	48,553	44,283
Cash and cash equivalents at the end of the period	66,001	48,657

* For reasons of comparability the previous year figures were reclassified

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the period from January 1 to September 30, 2014 and 2013

STATEMENT OF CHANGES IN EQUITY

		Equity attributable to the parent company's shareholders
Thousands of €	Subscribed capital	Capital reserve	Revenue reserve	currency conversion	Retained earnings	Total	Minority interests	Total equity
As of January 1, 2013	9,625	41,360	52	–3,901	63,554	110,690	1,308	111,998
Corrections of prior periods*	0	0	0	– 7,107	1,824	– 5,283	0	– 5,283
As of January 1, 2013 adjusted*	9,625	41,360	52	–11,008	65,378	105,407	1,308	106,715
Difference from currency translation				– 1,037		– 1,037	– 15	– 1,052
Actuarial gains /losses from pensions and related obligations					27	27	12	39
Net income for the year					16,708	16,708	818	17,526
Total comprehensive income for the year	0	0	0	–1,037	16,735	15,698	815	16,513
Share purchase from minorities					141	141	– 135	6
Dividend payments minorities					– 113	– 113	– 798	– 911
Dividend payment					– 11,069	– 11,069	0	– 11,069
As of September 30, 2013 adjusted*	9,625	41,360	52	–12,045	71,072	110,064	1,190	111,254
As of January 1, 2014	9,625	41,360	52	–12,785	78,315	116,567	1,598	118,165
Difference from currency translation				– 442		– 442	64	– 378
Actuarial gains /losses from pensions and related obligations					– 400	– 400	– 171	– 571
Net income for the year					22,341	22,341	1,199	23,540
Total comprehensive income for the year	0	0	0	–442	21,941	21,499	1,092	22,591
acquisition of minorities					0	0	110	110
Dividend payments minorities					– 134	– 134	– 1,815	– 1,949
Dividend payment					– 12,513	– 12,513	0	– 12,513
As of September 30, 2014	9,625	41,360	52	–13,227	87,609	125,419	985	126,404

* Some figures differ due to adjustments made from the amounts in the consolidated financial statements of fiscal year 2013.

For details, see "Notes to the interim financial statements based on IFRS"

November 5, 2014	November 19 – 20, 2014
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CONTACT

Nemetschek AG, 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: szimmermann@nemetschek.com

NEMETSCHEK Aktiengesellschaft Konrad-Zuse-Platz 1 81829 Munich Tel. +49 89 92793-0 Fax +49 89 92793-5200 investorrelations@nemetschek.com www.nemetschek.com