Nemetschek SE

Investor Presentation • Apr 28, 2022

Earnings Call Q1-22

Nemetschek Group

28 April 2022

Financial Results Q1-22

Key Financial Highlights Q1-22: Strong Start to the Year

Very Good Results in all Important KPIs

Segment Overview: Continued Strong Momentum in Media and Build

Recurring and Subscription/SaaS Revenues: New Record Levels

At a Glance: Income Statement and Important KPIs

		In % of
Key Figures mEUR	Q1-22	revenue	Q1-21	Growth y/y
Revenues	192.2	-	158.4	+21.3%
Cost of materials/cost of purchased services	-6.9	3.6%	-6.7	+3.6%
Personnel expenses	-78.2	40.8%	-69.5	+12.6%
Other operating income/expenses	-37.3	19.4%	-32.7	+13.9%
EBITDA	69.8	36.3%	49.6	+40.9%
EBITDA margin	36.3%	-	31.3%	+500bps
D&A (incl. PPA)	-13.5	7.0%	-10.8	+25.3%
EBIT	56.3	29.3%	38.8	+45.2%
EBIT margin	29.3%	-	24.5%	+480bps
Net income (group shares)	42.6	22.2%	29.4	+44.7%
EPS	0.37	-	0.25	+44.7%
Operating cash flow	72.0	-	60.5	+19.0%
Equity ratio in %	52.7%	-	48.7%	-
Net Cash	86.9	-	64.8	-

Outlook & Summary

Resilient Business Model: Diversified With a High Share of Recurring Revenues

Well Positioned for Future Growth

Outlook 2022
Huge Market Potential	Nemetschek - A Market Leader	Attractive Business Model	High Share of Recurring Revenues
• Total addressable market > EUR 45bn in AEC/O und M&E • Strong structural growth drivers: − Low degree of digitalization − Regulation − demand for digital content − Green Buildings	• Innovative Leader • Best in class products • Product offering along the entire AEC/O value chain • Customer proximity • Address new technological trends (e.g., Digital Twins, Metaverse, AI, VR/AR)	• Strong growth Model • Highly profitable • Strong cash generation • Very healthy balance sheet	• Share of recurring revenues > 60% • Segment-tailored subscription strategy • Strategically phased transition • Highly successful transition in M&E

Building blocks to achieve our 2022 guidance

Optimistic to Achieve Outlook 2022 after Strong First Quarter

2022 Revenue Growth: 12 - 14% (at constant currencies) EBITDA Margin: 32 - 33%

2021

Revenue: EUR 681.5m

EBITDA Margin:

32.6%

Outlook 2022:

Please note: The outlook is based on the assumption that there will be no deterioration in the economic conditions during the course of 2022 and that the Covid-19 pandemic will continue to be under control.

Income Statement

€m	Q1 2022	Q1 2021	% YoY
Revenues	192.2	158.4	+21.3%
Other income	3.0	1.5	+103.3%
Operating income	195.3	159.9	+22.1%
Cost of materials/purchased services	-6.9	-6.7	+3.6%
Personnel expenses	-78.2	-69.5	+12.6%
Other expenses	-40.3	-34.2	+17.8%
Operating expenses	-125.5	-110.4	+13.7%
EBITDA	69.8	49.6	+40.9%
Margin	36.3%	31.3%
Depreciation and amortization	-13.5	-10.8	+25.3%
t/o right -of -use assets	-4.1	-3.7	+11.4%
t/o PPA	-7.1	-4.9	+44.2%
EBIT	56.3	38.8	+45.2%
Financial result	-0.3	-1.0	-73.1%
t/o IFRS 16	-0.3	-0.3	-6.8%
EBT	56.0	37.7	+48.4%
Income taxes	-11.7	-7.9	+48.0%
Non -controlling interests	1.7	0.4	> +100%
Net income (group shares)	42.6	29.4	+44.7%
EPS in EUR	0.37	0.25	+44.7%

Balance Sheet – Assets

€m	March 31, 2022	December 31, 2021
Assets
Cash and cash equivalents	205.6	157.1
Trade receivables, net	81.6	70.1
Inventories	0.9	0.9
Other current assets	41.7	35.0
Current assets, total	329.8	263.1
Property, plant and equipment	21.5	20.7
Right-of-use assets	60.1	59.2
Intangible assets	153.8	158.9
Goodwill	531.1	524.0
Other non-current assets	29.1	28.2
Non-current assets, total	795.5	791.1
Total assets	1,125.3	1,054.2

Balance Sheet – Equity and Liabilities

€m	March 31, 2022	December 31, 2021
Equity and liabilities
Short-term borrowings and current portion of long-term loans	90.8	93.8
Trade payables & accrued liabilities	60.7	83.0
Deferred revenue	201.4	158.0
Current lease liability	14.2	14.1
Other current liabilities	44.9	35.7
Current liabilities, total	411.9	384.5
Long-term borrowings without current portion	27.9	34.9
Deferred tax liabilities	19.6	20.6
Non-current lease liability	52.9	52.0
Other non-current liabilities	19.6	20.5
Non-current liabilities, total	119.9	128.0
Subscribed capital and capital reserve	128.0	128.0
Retained earnings	458.2	415.4
Other comprehensive income	-10.4	-17.5
Non-controlling interests	17.8	15.8
Equity, total	593.5	541.7
Total equity and liabilities	1,125.3	1,054.2

Cash Flow Statement

€m	March 31, 2022	March 31, 2021	% YoY
Cash and cash equivalents at the beginning of the period	157.1	139.3	+12.8%
Cash flow from operating activities	72.0	60.5	+19.0%
Cash flow from investing activities	-10.7	-3.9
t/o CapEX	-3.1	-1.7
t/o Cash paid for acquisition of subsidiaries, net of cash acquired	0.0	-2.2
Cash flow from financing activities	-14.8	-22.1
t/o Cash received from loans	39.0	0.0
t/o Repayments of borrowings	-49.1	-17.8
t/o Principal elements of lease payments	-4.0	-3.7
FX-effects	1.9	3.7
Cash and cash equivalents at the end of the period	205.6	177.4	+15.8%
Free cash flow1	61.3	56.6	+8.4%

Contact

NEMETSCHEK SE Investor Relations

Konrad-Zuse-Platz 1 81829 Munich Germany

investorrelations@nemetschek.com www.nemetschek.com

Disclaimer

This presentation contains forward -looking statements based on the beliefs of Nemetschek SE management. Such statements reflect current views of Nemetschek SE with respect to future events and results and are subject to risks and uncertainties. Actual results may vary materially from those projected here, due to factors including changes in general economic and business conditions, changes in currency exchange, the introduction of competing products, lack of market acceptance of new products, services or technologies and changes in business strategy. Nemetschek SE does not intend or assume any obligation to update these forward looking statements.