Nemetschek tops STOXX on 'solid' outlook

Software AG

23/03/2023 08:36

** Shares in Nemetschek  NEKG.DE  jump more than 10% to the
top of Europe's STOXX 600 index  .STOXX  after the German
construction software developer gave what Baader Helvea analysts
called a "solid" 2023 outlook
    ** The group expects its EBITDA margin to remain high at
between 28-30% in 2023, and to be above 30% in 2024
    ** "Solid outlook on 2023 – accelerating growth and
improving margins from 2024 on expected," Baader says
    ** Baader says that while the 2023 consensus is at the
high-end of the group's margin guidance, Nemetschek has a "track
record to guide conservatively"
    ** It sees the outlook for 2024 and 2025 as a reassurance
that the transition of its Bluebeam software to subscriptions is
"not comparably painful", against peers like SAP  SAPG.DE  and
Software AG  SOWGn.DE 
    ** Nemetschek also tops the German mid-cap index  .MDAXI 

 (Reporting by Anna Mackenzie)
 ((Anna.mackenzie@thomsonreuters.com))