Germany's Nemetschek Q2 revenue, profit rise on subscription, SaaS demand
Germany's Nemetschek Q2 revenue, profit rise on subscription, SaaS demand
Overview
Germany construction software firm's Q2 revenue rose 14.5% yr/yr, slightly beating analyst expectations
Adjusted EPS for Q2 rose 25.3% yr/yr to EUR 0.57
Company completed HCSS acquisition and expanded 2026 outlook to include it
Outlook
Nemetschek expects 2026 organic revenue growth of 14%-15% at constant currency
Company sees 2026 EBITDA margin between 32% and 33%
Nemetschek estimates HCSS acquisition to add 600 basis points to 2026 group revenue growth
Result Drivers
SUBSCRIPTION/SaaS GROWTH - Co said Q2 revenue growth was mainly driven by a 29.6% increase in subscription and SaaS revenues
BUILD SEGMENT MOMENTUM - Build segment was main growth driver, supported by strong new business and international expansion
AI PRODUCT LAUNCH - Launch of Bluebeam Max, an agentic AI solution, contributed to growth and expanded AI integration across brands
Company press release: ID:nEQ4JxF23a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Slight Beat* | EUR 327.70 mln | EUR 326.37 mln (3 Analysts) |
Q2 EPS |
| EUR 0.57 |
|
Q2 Net Income |
| EUR 66 mln |
|
Q2 EBIT | Miss | EUR 79 mln | EUR 92.70 mln (2 Analysts) |
Q2 EBITDA | Miss | EUR 98.60 mln | EUR 102.13 mln (3 Analysts) |
Q2 ARR |
| EUR 1.25 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 16 "strong buy" or "buy", 3 "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 €84.50, about 25.7% above its July 29 closing price of €67.20
The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 24 three months ago
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(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.)