Half Year 2024 Nemetschek SE Earnings Call Transcript
Key Points
- Nemetschek SE (NEMTF) successfully closed the acquisition of GoCanvas, marking the largest acquisition in its history, which is expected to create substantial value for customers and shareholders.
- The company reported a strong growth in subscription and SaaS revenues, with an increase of around 83%, driving overall recurring revenue growth.
- Nemetschek SE (NEMTF) achieved a high annual recurring revenue (ARR) growth of over 26%, indicating strong revenue and cash flow potential for the next 12 months.
- The company maintained a strong cash conversion rate of 109% and improved its net cash position by 82% to EUR307 million.
- Nemetschek SE (NEMTF) is making substantial progress in its transition to a subscription and SaaS-centric business model, with subscription and SaaS revenues now accounting for 51% of total revenues.
- Reported profitability was impacted by one-off costs related to M&A activities, affecting the EBITDA margin.
- The design segment is expected to experience slower growth in Q3 due to the ongoing subscription transition and a high comparison base from the previous year.
- The build segment's profitability declined year over year, partly due to M&A-related one-off costs.
- The media segment faced a softer market, particularly in the US, impacting its growth potential.
- The manage segment reported the lowest growth within the group, with a revenue increase of only 3.4%.
Good afternoon, ladies and gentlemen, and welcome to the earnings call half year financial report of Nemetschek SE. (Operator Instructions)
Let me now turn the floor over to Stefanie Zimmermann.
Thank you, operator. And hello, everyone, and a big welcome. Thanks for joining our earnings call today to discuss the results for the second quarter and the first half of 2024 results. With me today are our CEO, Yves Padrines; and our CFO, Louise Ãfverström.
Today's conference call is being recorded. A replay of the call will be available at our website after the call. Additionally, you will find the report, the presentation, and the press release on our investor relations website as well.
But now, let's get started. So I would like to turn over to our CEO, Yves.
Thank you, Stefanie. Welcome everyone to our H1
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