Nemetschek SE — Interim / Quarterly Report 2015

Oct 30, 2015

QUARTERLY STATEMENT AS OF SEPTEMBER 30, 2015

TO OUR SHAREHOLDERS

Patrik Heider, Spokesman of the Executive Board and CFOO

The Nemetschek Group continued to demonstrate dynamic business development in the third quarter of 2015. The strong growth of 38.2% in the period from July to September – a record value for a third quarter – was driven organically and as a consequence of the acquisition of US company Bluebeam Software, Inc. in the previous year. The greatest growth impulses came from abroad and from the revenue from software licenses. Parallel to this, the company continued to invest in extending its international market presence, its sales and its marketing, and in expanding its BIM 5D expertise. It's becoming clearer and clearer that our strategic investment in new brands, solutions and markets is paying off and that we are thus laying the foundations for future growth. We had only recently adjusted our revenue forecast significantly upwards for 2015 when we also raised the target range for the Group EBITDA.

MAJOR INDICATORS OF THE GROUP'S SUCCESS

• ||| Group revenue in the third quarter rose to EUR 70.7 million, a growth of 38.2% compared to the same quarter in the previous year (EUR 51.2 million). In the first nine months of 2015, revenue increased by 34.2% to EUR 205.9 million (previous year's period: EUR 153.5 million). Adjusted for currency effects, revenue from January to September rose by 28.5%. Bluebeam Software contributed EUR 11.1 million to Q3 revenue and EUR 32.1 million to nine-month revenue. The Group's organic growth thus remained at a high 16.5% in Q3; 13.3% from a nine-month perspective.
• ||| Likewise, earnings before interest, taxes, depreciation and amortization (EBITDA) rose considerably by 27.0% in Q3 to EUR 16.8 million (Q3 2014: EUR 13.2 million). In the first nine months, it was possible to raise EBITDA to EUR 49.4 million, an increase of 27.2% (previous year's period: EUR 38.8 million). The earnings figure accounts for future-oriented investments, e.g. for increasing personnel in the areas of sales and marketing.
• ||| The EBITDA margin for Group revenue was 24.0% after nine months, and thus completely within the company's expectations (9M 2014: 25.3%).
• ||| The tax rate after three quarters rose to 31.0% (previous year's period: 26.9%). The increase is caused in particular by deferred tax expenses on unrealized intra-Group foreign exchange gains.
• ||| In the first nine months, net income for the year (Group shares) rose by 8.3% to EUR 24.2 million (previous year's period: EUR 22.3 million). Accordingly, the earnings per share increased from EUR 0.58 in the previous year's period to EUR 0.63.
• ||| Adjusted for depreciation and amortization from purchase price allocation (PPA), which increased as a result of the Bluebeam acquisition, net income for the year rose even more strongly by 19.0% to EUR 29.6 million (previous year's period: EUR 24.8 million). This corresponds to an adjusted earnings per share figure of EUR 0.77 (previous year's period: EUR 0.65 per share).

GLOBAL GROWTH COURSE ADVANCES

The Nemetschek Group has continued to advance its global market alignment. In total, non-domestic revenue in the first nine months of 2015 climbed by 50.8% to EUR 137.7 million (9M 2014: EUR 91.3 million). In the USA, the home market of Bluebeam Software (acquired in 2014), it was possible to more than triple revenues. Domestic revenue also developed positively and rose by 9.8% to EUR 68.3 million (9M 2014: EUR 62.2 million).

With a plus of 48.7% to EUR 106.7 million (previous year's period: EUR 71.8 million), revenue from software licenses constituted a further growth driver. Recurring revenue from software service contracts increased by 21.7% to EUR 89.9 million (previous year's period EUR 73.8 million).

BALANCE SHEET RATIOS SHOW FINANCIAL STRENGTHS AND SOUNDNESS OF THE GROUP

The Group's net asset structure and financial position remain extremely sound. As of September 30, 2015, the equity ratio rose to 48.9% (December 31, 2014: 46.8%). Moreover, the Nemetschek Group demonstrates very good cash generation with simultaneously high-quality growth. As of September 30, 2015, cash and cash equivalents increased to EUR 71.5 million (December 31, 2014: EUR 57.0 million) and net liquidity improved to EUR 20.5 million (December 31, 2014: EUR –3.0 million).

DEVELOPMENT OF THE SEGMENTS

In the Design segment, revenue in Q3 rose by 18.1% to EUR 49.4 million. Accumulated, revenue from the first nine months increased to EUR 143.4 million, a plus of 13.4% over the previous year's period (EUR 126.4 million). From January to September, EBITDA rose to EUR 34.7 million (9M 2014: EUR 31.0 million), which corresponds to an EBITDA margin of 24.2% (previous year's period: 24.5%). The strong growth is caused, among other things, by the new releases of the Graphisoft and Vectorworks brands and their further internationalization.

As a result of the Bluebeam acquisition, the Build segment underwent great expansion. Bluebeam itself reinforced its international presence, e.g. through the acquisition of Swedish distributor Bluebeam AB and through new reseller and technology partnerships. In the first three quarters, segment revenue increased to EUR 43.5 million, which is more than quadruple the previous year's value of EUR 10.7 million. Organic nine-month revenue of EUR 11.4 million was thus 6.5% more than that of the previous year. EBITDA jumped to EUR 8.0 million (previous year: EUR 2.0 million) with an almost unchanged EBITDA margin of 18.5% (9M 2014: 18.7%).

Revenue in the Manage segment increased by 11.4% to EUR 4.2 million (9M 2014: EUR 3.7 million). EBITDA remained at the previous year's level at EUR 0.6 million, which corresponds to an EBITDA margin of 15.4% (previous year's period: 16.9%).

In the first nine months, the Media & Entertainment segment showed a favorable growth in revenue of 18.0% to EUR 14.9 million following EUR 12.6 million in the previous year's period. EBITDA increased to EUR 6.0 million (previous year's period: EUR 5.2 million), and thus the EBITDA margin remained at a high 40.6% (previous year's period: 41.0%).

OUTLOOK FOR FISCAL YEAR 2015: EBITDA FORECAST INCREASED

Following dynamic development in the first nine months, and in the third quarter not least of all, we anticipate that in 2015 the Nemetschek Group will considerably improve Group revenue and consolidated earnings compared to the previous year and will post new record highs. The EBITDA forecast was adjusted upwards: EBITDA in the range of EUR 65 million to 67 million is now expected (previously: EUR 62 to 65 million). We had already increased our revenue forecast at the beginning of October to a range of EUR 278 million to 282 million (previously: EUR 262 million to 269 million). Compared to the previous year's value, this results in a planned growth in revenue (EUR 218.5 million) of 27% to 29% (previously: 20% to 23%).

Thank you for your trust!

Yours sincerely,

Patrik Heider

NEMETSCHEK ON THE CAPITAL MARKET

VOLATILITY ON SHARE MARKETS

In the second half of the year, volatility on worldwide share markets increased. Uncertainties were caused, among other things, by concerns as to the stability of the global economy, the unclearness of the US interest rate policy and the fragile state of the economy in China and other emerging countries. Positive signals continue to come out of the euro area, where the purchasing managers' index rose again in the third quarter. In the USA, too, there was continued favorable development on the US labor market as well as positive development in the construction industry.

Overall, since midyear, there have been strong share price fluctuations and even some decline. Observations of share development since the start of the year show that, in the third quarter following an upward trend in the first half of the year, the DAX has fallen back to its start-of-the-year level. The TecDAX, which contains the 30 largest technology values, including Nemetschek, has developed much better and has shown a rise of some 25% since the start of the year.

PRICE DEVELOPMENT OF THE NEMETSCHEK SHARE SINCE THE START OF 2015

The Nemetschek share price has climbed significantly since the start of the year. All in all, in the first nine months, the share rose by about 54% to EUR 33.60 as of September 30, 2015. The market capitalization of Nemetschek AG grew accordingly to about EUR 1.3 billion.

DEVELOPMENT OF THE NEMETSCHEK SHARE AS WELL AS OF THE TECDAX AND DAX INDEXED

Nemetschek shares develop better than TecDAX

SHAREHOLDER STRUCTURE

After the annual general meeting approved the proposal for a stock split at a ratio of 1:4 on May 20, 2015, the stock was split as of June 30, 2015. The share capital of Nemetschek Aktiengesellschaft increased accordingly from 9,625,000 to 38,500,000 and was divided into 38,500,000 no-par value bearer shares.

As of September 30, 2015, the free float remained unchanged at 46.43%.

SHAREHOLDER STRUCTURE*

* Direct shareholdings as of September 30, 2015

KEY FIGURES

NEMETSCHEK GROUP

in million €	3rd Quarter 2015	3rd Quarter 2014	Change	9 month 2015	9 month 2014	Change
Revenues	70.7	51.2	38.2%	205.9	153.5	34.2%
EBITDA	16.8	13.2	27.0%	49.4	38.8	27.2%
as % of revenue	23.8 %	25.9 %		24.0 %	25.3 %
EBITA	15.1	11.9	27.4%	44.5	35.2	26.6%
as % of revenue	21.4 %	23.2 %		21.6 %	22.9 %
EBIT	12.6	10.9	15.9%	36.9	32.2	14.7%
as % of revenue	17.8 %	21.2 %		17.9 %	21.0 %
Net income (group shares)	8.7	7.9	9.6%	24.2	22.3	8.3%
per share in €*	0.23	0.21		0.63	0.58
Net income (group shares) before depreciation of PPA**	10.5	8.8	19.4%	29.6	24.8	19.0%
per share in €*	0.27	0.23		0.77	0.65
Cash flow from operating activities				48.8	36.5	33.7%
Free Cash Flow				40.8	33.0	23.9%
Net cash***				20.5	-3.0
Equity ratio***				48.9%	46.8%
Headcount as of balance sheet date				1,708	1,376	24.1%

* For better comparability, earnings per share has been presented after the stock split

** Purchase Price Allocation

*** Presentation of previous year as of December 31, 2014

INTERIM MANAGEMENT REPORT

REPORT ON THE EARNINGS, FINANCIAL AND ASSET SITUATION

CONSIDERABLE INCREASE IN REVENUES OF 34.2 %, EBITDA MARGIN STABLE AT 24.0 %

The Nemetschek Group increased its revenues as of September 30, 2015 by 34.2% to EUR 205.9 million (previous year: EUR 153.5 million). EBITDA rose to EUR 49.4 million, an increase by 27.2% compared to the previous year (previous year: EUR 38.8 million). The operating margin of 24.0% was slightly below that of the previous year (25.3%) on account of investments in growth and internationalization.

REVENUES FROM SOFTWARE LICENSES ROSE BY 48.7 %

Revenues from software licences increased to EUR 106.7 million

In the first nine months of 2015, the Nemetschek Group was able to increase revenues from software licenses by 48.7% to EUR 106.7 million (previous year: EUR 71.8 million). In addition, during the same period, it was possible to raise recurring revenues (software service contracts and subscription) by 21.7% to EUR 89.9 million (previous year: EUR 73.8 million). The share of revenues from software licenses compared to total revenues grew from 46.8% to 51.8%.

Especially on the international markets, we were able to greatly accelerate our growth course. This was primarily contributed to by the acquisition of Bluebeam Software, Inc. at the end of 2014. In total, non-domestic revenues climbed by 50.8% to EUR 137.7 million (previous year: EUR 91.3 million). Domestic revenues rose in the first nine months of 2015 by 9.8% to EUR 68.3 million (previous year: EUR 62.2 million).

SUMMARY OF SEGMENTS

In the Design segment, the Nemetschek Group generated revenue growth of 13.4% to EUR 143.4 million (previous year: EUR 126.4 million). EBITDA rose to EUR 34.7 million (previous year: EUR 31.0 million). This is equivalent to an operating margin of 24.2% after 24.5% in the previous year.

In the Build segment, revenues in the amount of EUR 43.5 million were clearly above those of the previous year (EUR 10.7 million). The increase in revenue is mainly attributable to the effect of acquiring Bluebeam Software, Inc. The new company contributed EUR 32.1 million to Group revenue in the first nine months of 2015. The EBITDA margin of 18.5% was almost at the level of that of the previous year (previous year: 18.7%).

The Manage segment continued with positive development in the third quarter as well and, as of September 30, 2015, increased revenues by 11.4% to EUR 4.2 million (previous year: EUR 3.7 million); as a result of investments, the EBITDA margin amounted to 15.4% (previous year: 16.9%).

Likewise, the Media & Entertainment segment showed favorable development. With a plus of 18.0%, revenues rose to EUR 14.9 million. The EBITDA margin remained almost at the previous year's level at 40.6% (previous year: 41.0%).

EARNINGS PER SHARE AT EUR 0.63

Operating expenses rose considerably by 39.2% from EUR 124.0 million to EUR 172.6 million. The increase is mainly due to the acquisition of Bluebeam Software, Inc., as well as advance performance in further revenue growth and internationalization.

Material expenses rose by EUR 1.0 million to EUR 6.9 million. Personnel expenses increased by 40.9% from EUR 66.2 million to EUR 93.2 million. Depreciation and amortization rose from EUR 6.6 million to EUR 12.5 million in particular as a result of the purchase price allocation of Bluebeam Software, Inc. Furthermore, other operating expenses rose by 32.6% from EUR 45.2 million to EUR 60.0 million.

In the first nine months of 2015, the tax rate of the Nemetschek Group rose to 31.0% (previous year: 26.9%). The higher tax rate is in part attributable to the increased earnings of companies in countries with higher levels of taxation. Furthermore, deferred tax expenses on unrealized intra-Group foreign exchange gains had the effect of increasing the tax rate in the consolidated financial statements. Adjusted for these intra-Group effects, the tax rate would amount to 28.0%. The net income for the year (Group shares) amounted to EUR 24.2 million and thus exceeded the previous year's amount of EUR 22.3 million by 8.3%. Thus the earnings per share amounted to EUR 0.63 (previous year, adjusted as a result of the stock split: EUR 0.58). Adjusted for depreciation and amortization from purchase price allocation, net income for the year climbed considerably more by 19.0% to EUR 29.6 million (previous year: EUR 24.8 million), and therefore the earnings per share, adjusted for the effects of purchase price allocation, reached EUR 0.77 (previous year, adjusted as a result of the stock split: EUR 0.65 per share).

OPERATING CASH FLOW AMOUNTS TO EUR 48.8 MILLION

In the first nine months of 2015, the Nemetschek Group generated an operating cash flow of EUR 48.8 million, an increase of 33.7% (previous year: EUR 36.5 million). The main reason for the rise compared to the previous year is an increase in earnings before taxes of EUR 4.5 million and the elimination of higher depreciation and amortization from purchase price allocation. The cash flow from investing activities of EUR –8.0 million was above the previous year's level (EUR –3.6 million). The reason for this is higher investments in property, plant and equipment and intangible assets as well as the acquisition of operative sales units. The cash flow from financing activities amounting to EUR –28.5 million (previous year: EUR –16.4 million) mainly includes dividend payments totaling EUR 15.4 million, profit distributions to non-controlling interests of EUR 2.0 million, capital expenditures for the purchase of non-controlling interests amounting to EUR 1.6 million and the repayment of bank loans of EUR 9.0 million.

HIGH BALANCE OF CASH AND CASH EQUIVALENTS OF EUR 71.5 MILLION

As of September 30, 2015, the Nemetschek Group had cash and cash equivalents at its disposal amounting to EUR 71.5 million (December 31, 2014: EUR 57.0 million).

Mainly due to the rise in liquidity, current assets increased to EUR 113.6 million (December 31, 2014: EUR 98.4 million). Non-current assets rose mainly due to the foreign currency exchange rate influences of the USD to EUR 197.9 million (December 31, 2014: EUR 193.3 million).

EQUITY RATIO AT 48.9 PERCENT

Deferred revenues increased by EUR 13.1 million to EUR 45.4 million in line with software service contracts invoiced. The balance sheet total amounted to EUR 311.4 million as of September 30, 2015 (December 31, 2014: EUR 291.7 million). Equity rose to EUR 152.4 million (December 31, 2014: EUR 136.6 million). Thus, the equity ratio amounted to 48.9%, following 46.8% as of December 31, 2014.

The company increased capital from its own resources in June 2015. Subscribed capital increased from EUR 9.6 million to EUR 38.5 million; the capital reserve decreased accordingly.

EMPLOYEES

As of the reporting date September 30, 2015, the Nemetschek Group employed a staff of 1,708 (September 30, 2014: 1,376). The increase mainly results from the acquisition of Bluebeam Software, Inc., as well as from the recruitment planned in the 2015 financial year.

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, 2014.

OPPORTUNITY AND RISK REPORT

Please see the opportunities and risks described in the Group management report for the year ended December 31, 2014 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.

Operating cash flow increased by 33.7percent

REPORT ON FORECASTS AND OTHER STATEMENTS ON PROSPECTIVE DEVELOPMENT

Forecast for fiscal year 2015 raised

The Nemetschek Group adjusts its anticipated EBITDA upwards on the basis of the strong development in the first nine months of 2015: An EBITDA range of EUR 65 to 67 million is anticipated (previously: EUR 62 to 65 million). The Nemetschek Group had already increased its revenue forecast at the beginning of October. The new forecast envisages revenues in the range of EUR 278 million to EUR 282 million (previously: EUR 262 million to EUR 269 million). Compared to the previous year, this results in a planned growth in revenue (EUR 218.5 million) of 27% to 29% (previously: 20% to 23%).

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) 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, 2015 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, 2014. 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, 2014, except for the following material changes:

• ||| Graphisoft SE, Budapest, Hungary, purchased the Cigraph sales branch in Italy on January 15, 2015. The purchase included the ArchiCAD and Artlantis sales units. The company was included in the consolidated financial statements for the first time in January. The purchase price amounted to EUR 1,774 thousand. The preliminary purchase price allocation mainly included intangible assets for customer relationships amounting to EUR 1,667 thousand. In addition to these, liabilities for customer loyalty programs as well as obligations to employees amounting to EUR 643 thousand were accounted for. Goodwill amounting to EUR 750 thousand was capitalized.
• ||| Effective from July 1, 2015, Bite Design Limited, UK, was acquired by Graphisoft UK. The purchase price was EUR 1,056 thousand. The preliminary purchase price allocation resulted in goodwill amounting to EUR 811 thousand.
• ||| Bluebeam Software, Inc., USA, acquired Swedish distributor Bluebeam AB on July 10, 2015. The company was included in the consolidated financial statements for the first time in July. The purchase price totaled EUR 590 thousand. The preliminary purchase price allocation resulted in goodwill amounting to EUR 239 thousand.

Munich, in October 2015

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, 2015 and 2014

Thousands of €	3rd Quarter 2015	3rd Quarter 2014	9 month 2015	9 month 2014
Revenues	70,743	51,201	205,920	153,467
Own work capitalized	0	7	7	7
Other operating income	726	991	3,598	2,671
Operating Income	71,469	52,199	209,525	156,145
Cost of materials /cost of purchased services	- 2,481	- 2,111	- 6,940	- 5,908
Personnel expenses	- 32,295	- 21,678	- 93,206	- 66,168
Depreciation of property, plant and equipment and amortization of intangible assets	- 4,224	- 2,379	- 12,475	- 6,636
thereof amortization of intangible assets due to purchase price allocation	- 2,538	- 1,011	- 7,603	- 2,982
Other operating expenses	- 19,868	- 15,163	- 59,976	- 45,242
Operating expenses	-58,868	-41,331	-172,597	-123,954
Operating results (EBIT)	12,601	10,868	36,928	32,191
Interest income	35	27	128	99
Interest expenses	- 145	- 4	- 493	- 55
Share of results of associated companies	- 40	- 15	54	- 15
Other financial income	0	0	113	0
Earnings before taxes (EBT)	12,451	10,876	36,730	32,220
Income taxes	- 3,425	- 2,577	- 11,370	- 8,680
Net income for the year	9,026	8,299	25,360	23,540
Other comprehensive income:
Difference from currency translation	- 1,228	1,225	7,996	- 379
Subtotal of items of other comprehensive income that will be reclassified to income in future periods:	-1,228	1,225	7,996	-379
Gains/losses on revaluation of defined benefit pension plans	484	- 677	- 104	- 814
Tax effect	- 136	206	29	244
Subtotal of items of other comprehensive income that will not be reclassified to income in future periods:	348	-471	-75	-570
Subtotal other comprehensive income	-880	754	7,921	-949
Total comprehensive income for the year	8,146	9,053	33,281	22,591
Net profit or loss for the period attributable to:
Equity holders of the parent	8,695	7,930	24,194	22,341
Non-controlling interests	332	369	1,166	1,199
Net income for the year	9,027	8,299	25,360	23,540
Total comprehensive income for the year attributable to:
Equity holders of the parent	7,713	8,767	31,807	21,499
Non-controlling interests	433	286	1,474	1,092
Total comprehensive income for the year	8,146	9,053	33,281	22,591
Earnings per share (undiluted) in euros	0.23	0.21*	0.63	0.58*
Earnings per share (diluted) in euros	0.23	0.21*	0.63	0.58*
Average number of shares outstanding (undiluted)	38,500,000	38,500,000	38,500,000	38,500,000
Average number of shares outstanding (diluted)	38,500,000	38,500,000	38,500,000	38,500,000

* For better comparability, earnings per share has been presented after the share split

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

as of September 30, 2015 and December 31, 2014

ASSETS Thousands of €	September 30, 2015	December 31, 2014
Current assets
Cash and cash equivalents	71,519	56,968
Trade receivables, net	29,097	28,869
Inventories	881	725
Tax refunded claims for income taxes	1,935	2,509
Other current financial assets	13	10
Other current assets	10,134	9,301
Current assets, total	113,579	98,382
Non-current assets
Property, plant and equipment	13,282	10,800
Intangible assets	64,617	68,770
Goodwill	117,149	111,285
Investments in associates and non-current available-for-sale assets	946	892
Deferred tax assets	1,008	727
Non-current financial assets	51	59
Other non-current assets	809	772
Non-current assets, total	197,862	193,305

Total assets	311,441	291,687

Equity and liabilities	Thousands of €	September 30, 2015	December 31, 2014
Current liabilities
Short-term loans and current portion of long-term loans		12,000	12,000
Trade payables		5,465	5,784
Provisions and accrued liabilities		22,089	21,107
Deferred revenue		45,438	32,386
Income tax liabilities		2,893	4,712
Other current financial obligations		90	1,633
Other current liabilities		7,142	6,640
Current liabilities, total		95,117	84,262
Non-current liabilities
Long-term loans without current portion		39,000	48,000
Deferred tax liabilities		15,771	15,438
Pensions and related obligations		1,811	1,667
Non-current financial obligations		1,223	1,336
Other non-current liabilities		6,112	4,408
Non-current liabilities, total		63,917	70,849
Equity
Subscribed capital		38,500	9,625
Capital reserve		12,485	41,360
Retained earnings		104,618	96,621
Other comprehensive income		- 4,960	- 12,625
Equity (Group shares)		150,643	134,981
Non-controlling interests		1,764	1,595
Equity, total		152,407	136,576
Total equity and liabilities		311,441	291,687

CONSOLIDATED CASH FLOW STATEMENT

for the period from January 1 to September 30, 2015 and 2014

36,730 12,475 40 - 12 - 54 110 49,289 - 128 493 312 649	32,220 6,636 140 365 15 140 39,516 - 99 55 1,255
	- 284
1,359	933*
- 1,164	- 1,671
8,432	5,132*
126	90
1,005	713
- 11,526	- 9,103
48,846	36,537
- 5,716	- 2,486
133	249
- 2,418	- 879
0	- 468
-8,001	-3,584
- 15,400	- 12,513
- 2,044	- 1,949
- 488	- 1,131
- 9,000	- 830
- 1,577	0
-28,509	-16,423
12,336	16,530
2,215	918
56,968	48,553
71,519	66,001

* For reasons of comparability the previous year figures were reclassified

CONSOLIDATED SEGMENT REPORTING

for the period from January 1 to September 30, 2015 and 2014

							Media &
2015	Thousands of €	Total	Elimination	Design	Build	Manage	Entertainment
Revenue, external		205,920		143,395	43,465	4,161	14,899
Intersegment revenue		0	- 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
2014	Thousands of €	Total	Elimination	Design	Build	Manage	Media & Entertainment
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
Segment operating result (EBIT)		32,191		25,402	1,183	595	5,011

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the period from January 1 to September 30, 2015 and 2014

	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, 2014	9,625	41,360	78,367	-12,785	116,567	1,598	118,165
Difference from currency translation				- 442	- 442	64	- 378
Remeasurement 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			21,941	-442	21,499	1,092	22,591
Share purchase from non-controlling interests			0		0	110	110
Dividend payments to non-controlling interests			- 134		- 134	- 1,815	- 1,949
Dividend payment			- 12,513		- 12,513	0	- 12,513
As of September 30, 2014	9,625	41,360	87,661	-13,227	125,419	985	126,404
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	7,995
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			24,142	7,665	31,807	1,474	33,280
Increase of share capital through corporate funds	28,875	- 28,875			0		0
Acquisition of 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	0	- 15,400
As of September 30, 2015	38,500	12,485	104,618	-4,960	150,643	1,764	152,407

FINANCIAL CALENDAR 2015

New brand name for two Nemetschek subsidiaries: The German NEMETSCHEK Bausoftware GmbH and Austrian AUER-Die Bausoftware GmbH, will bear the same name – NEVARIS Bausoftware GmbH. Read more…

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