Nemetschek SE — Investor Presentation 2023

Jan 10, 2023

Company Presentation

Nemetschek Group

January 2023

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Financial Results Q3-22

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Top Key Figures Q3-22: Continued High Growth in Uncertain Environment

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Key Financial Highlights 9M-22: Strong First Nine Months of the Year

Very Good Results in all Important KPIs

Revenues: +21.3% (FX adj.: +15.2%) to EUR 598.9m

Recurring Revenues: +28.0% (FX adj.: +21.6%) to EUR 387.2m

Subscription/SaaS Revenues: +57.8% (FX adj.: +49.5%) to EUR 146.8m

EBITDA: +25.6% (FX adj.: +16.2%) to EUR 201.3m

EBITDA margin: 33.6% (FX adj.: 32.8%)

Earnings per Share: EUR 1.11 (+32.1%)

High Cash Conversion: 86.4%

Net Cash Position: EUR 120.5m

Equity Ratio: 57.4%

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Segment Overview 9M-22: Highest Growth Momentum in Build and Media

• Prolonged sales cycles in pockets of growth in Q3
• Very strong growth (+60%) in Sub./SaaS in first nine months of the year

• Bluebeam again main growth driver
• Strong growth in US and internationally
• Subscription transition launched in Q3 as planned

• High growth in all regions combined with a record margin
• Growth supported by Pixologic acquisition

• Ongoing restraint in investment activities from customers
• New CDO Cesar Flores Rodriguez
• Huge long-term growth potential due to Digital Twins, green buildings, etc.

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1 Constant currency

• As a result of the strategic reorganization of brands between the Design and Build segments, prior year figures were restated for comparability reasons.

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Overview Recurring Revenues: New KPI ARR Shows Strong Future Growth

Revenue Share
by type in %

Revenue Share
of Subscription/SaaS

	Q3-22		9M-22
ARR² y/y	↑	+29.2%
+21.7% cc¹	↑	+29.2%
+21.7% cc¹
Recurring
revenues y/y	↑	+29.2%
+21.0% cc¹	↑	+28.0%
+21.6% cc¹
Subscription/
SaaS y/y	↑	+57.5%
+47.1% cc¹	↑	+57.8%
+49.5% cc¹
Licenses y/y	→	+2.2%
-6.2% cc¹	→	+10.7%
+4.3% cc¹

Recurring revenues (Software services (40%); Subscription/SaaS (25%))
Consulting & Hardware
Maintenance Contracts

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1 Constant currency

2 Annual Recurring Revenue (ARR): Average of all recurring revenues (Sub./SaaS and maintenance contracts) over the last three months x 4.

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At a Glance: Income Statement and Important KPIs

Key Figures mEUR	9M-22	In % of revenue	9M-21	Growth y/y
Revenues	598.9	-	493.6	+21.3%
Cost of materials/cost of purchased services	-22.4	3.7%	-18.1	+24.0%
Personnel expenses	-248.5	41.5%	-212.6	+16.9%
Other operating income/expenses	-126.6	21.1%	-102.7	+23.3%
EBITDA	201.3	33.6%	160.3	+25.6%
EBITDA margin	33.6%	-	32.5%	+115bps
D&A (incl. PPA)	-43.7	7.3%	-37.2	+17.4%
EBIT	157.6	26.3%	123.0	+28.1%
EBIT margin	26.3%	-	24.9%	+139bps
Net income (group shares)	127.9	21.4%	96.8	+32.1%
EPS	1.11	-	0.84	+32.1%
FCF (before M&A)	162.6	-	143.9	+13.0%
Equity ratio in %	57.4%	-	51.4%
Net Cash	120.5	-	28.4

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Update & Outlook

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New Bluebeam Cloud – Available only via Subscription

Bluebeam Cloud is a Cloud-Based Browser and Mobile Application that includes real-time collaboration, markup editing, and an iOS companion application.

Bluebeam Cloud features include:

• Bluebeam Cloud Project and Construction Management – Ability to create and manage a project from start to finish, including managing punch/snag, RFI, and submittal processes.
• Project GPS – Ability to map your plans to Global GPS and manage your projects via locational insights (powerful for infrastructure projects).
• Cloud connectivity for Revu 21 (Studio) – Ability to collaborate across project teams in real-time in Bluebeam Desktop.
• New data management layer – Markups and data are referenced externally to the PDF file – transparent to the user but act as the foundation for powerful integrations.
• Use Bluebeam everywhere and anytime: Portability of tools and cloud data due to New Licensing Administration and Named User Licensing (replaces machine-based licensing model).

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Overview Subscription Packages including new Cloud Features

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Basics

Essential tools for marking up and managing your AECO office and project documents.

$240

Per user, billed annually

Bluebeam Revu

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Cloud Features (Basic):

• Unlimited secure centralized storage
• Markup Editor (easy markup and collaboration)

Core

Comprehensive tools for managing and collaborating on small- and mid-sized AECO projects.

$300

Per user, billed annually

Bluebeam Revu and Studio

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Cloud Features (Advanced)

+

• Manage punch, RFIs and submittals on the go with Field Tools
• Geolocational insights

Complete

Everything you need to manage and optimize complex AECO projects at scale.

$400

Per user, billed annually

Bluebeam Revu and Studio (Advanced)

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Cloud Features (Advanced)

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• Manage punch, RFIs and submittals on the go with Field Tools
• Geolocational insights

New Bluebeam subscription packages:

• 3 Different Product Packages which consist of combinations of two applications – Bluebeam Desktop (Revu 21) and the all-new Bluebeam Cloud.
• Higher tiered packages (Core, Complete) include more advanced Bluebeam Cloud features such as:
• Project and Construction Management
• Project GPS
• Cloud connectivity for Revu 21 (Studio)

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Update Bluebeam Transition

Bluebeam’s subscription and SaaS transition progressing as planned

Status Quo as of Q3-22

Subscription launch progressed as planned

New customers:

• As of Mid-September, new customers only have the option to purchase subscription packages.
• Majority of sold packages include both Bluebeam Cloud and Bluebeam Revu 21 (i.e. Core or Complete).

Existing customers:

• Existing customer that have longer-term contracts may continue to purchase perpetual seats for their contract term.

First Learnings & Next Steps

Marketing reach:

• Website traffic remains steady but with customers spending more time exploring and understanding the new offerings.
• Bluebeam trial downloads occurring at double pre-launch rates.

Subscription and Bluebeam Cloud adoption trends since launch:

• Bluebeam Cloud building momentum: Number of new customers using Bluebeam Cloud has steadily accelerated each week since launch.

Existing customers:

• Programs to incentivize existing customers to transition to subscription at discounted rates to accelerate transitions and upgrades.

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Resilient Business Model due to Balanced Portfolio

Revenue Split per …

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Outlook 2022: Fully on Track to Achieve Our Full Year Targets

2022

Revenue Growth:
12% - 14%
(at constant currencies)

EBITDA Margin:
32% - 33%

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.

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Contact

NEMETSCHEK SE
Investor Relations

Konrad-Zuse-Platz 1
81829 Munich
Germany

investorrelations@nemetschek.com
www.nemetschek.com

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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.

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