Germany's Nemetschek Q1 revenue slightly beats on subscription and SaaS growth

Nemetschek SE

30/04/2026 06:12

Overview

Germany software provider's Q1 revenue grew 17% yr/yr, slightly beating analyst expectations

Q1 EBITDA grew 29.6% yr/yr but slightly missed analyst expectations

Company confirmed full-year 2026 guidance and highlighted pending HCSS acquisition

Outlook

Nemetschek confirms 2026 organic, currency-adjusted revenue growth guidance of 14-15%

Company expects 2026 EBITDA margin between 32% and 33%

Nemetschek says forecasts assume stable economic and industry conditions in 2026

Result Drivers

BUILD SEGMENT MOMENTUM - Strong growth in the Build segment driven by new units and international expansion

SUBSCRIPTION/SAAS GROWTH - Significant increase in subscription and SaaS revenues, especially in Design and Build segments

OPERATIONAL LEVERAGE - Profitability gains attributed to scale and operational excellence

Company press release: ID:nEQb5fw2Ra

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
EUR 313.10 mln
EUR 311.07 mln (5 Analysts)
Q1 EPS
EUR 0.52
Q1 Net Income
EUR 60.40 mln
Q1 EBIT
Miss
EUR 79.20 mln
EUR 85.57 mln (4 Analysts)
Q1 EBITDA
Slight Miss*
EUR 98.40 mln
EUR 98.63 mln (4 Analysts)
Q1 ARR
EUR 1.19 bln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy"

Wall Street's median 12-month price target for Nemetschek SE is €91.00, about 44.9% above its April 29 closing price of €62.80

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 38 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)