Nemetschek Group Reports Strong First Half of 2024

Nemetschek Group has announced significant growth for the first half of 2024. The company achieved an 82.9% increase in subscription and SaaS revenue, totaling EUR 124.6 million in Q2. ARR grew by 26.5% to EUR 797.9 million, while group revenues rose by 9.7% to EUR 227.7 million. The EBITDA margin for Q2 stood at 27.0%, adjusted to 29.4% without acquisition-related costs. Quarterly earnings per share increased by 27.7% to EUR 0.36.

The successful acquisition of GoCanvas has further strengthened Nemetschek’s outlook. CEO Yves Padrines emphasized the company's robust performance and strategic focus on internationalization and new technologies. Notably, recurring revenues surpassed 85% in the first half of the year, reflecting a successful business model transition.

Segment-wise, the Design and Build segments showed significant growth driven by the shift to subscription/SaaS models. Internationalization efforts yielded substantial gains in North America and Asia-Pacific. The GoCanvas acquisition promises to enhance future growth and efficiency, particularly in the Build segment.

Nemetschek confirmed its organic revenue growth target of 10% to 11% for 2024, anticipating further boosts from the GoCanvas acquisition. The ARR growth forecast was adjusted to more than 30%, with recurring revenue expected to hit around 85%.