German AEC software vendor Nemetschek Group has posted a robust performance for the first half of 2017 on the back of recurring revenues from maintenance contracts and rental models.
According to Nemetschek’s latest performance results, the company saw 20.1% year-on-year revenue growth in the first half of 2017 to hit EUR 194 million, while organic growth reached the top end of the target range at 14.8%.
Second quarter revenues were EUR 97.1 million, for a year-on-year increase of 16.5% compared to the high base of EUR 83.8 million for the same period in 2016.
According to Nemetschek Group CEO and spokesman Patrik Heider, the modest easing of growth in the second quarter was the result of the high base as well as the deferral of key product releases in the design segment.
Nemetschek also saw a healthy profit growth, with earnings before interest, taxes, depreciation and amortization (EBITDA) rising to EUR 51.7 million, for a year-on-year increase of 18.3%.
The EBITDA margin held steady with the reading of 27% for the first half of 2016, reaching 26.6% for the first six months of 2017.
Net income for the year saw a year-on-year increase of 21.1% to EUR 27.7 million from January to June 2017, while adjusted earnings per share rose from EUR 0.59 to EUR 0.72.
Net income for the year rose by 14.5% (prior to adjustment) for the one-off effect of the previous year.
Heider indicated that the first half performance results puts the company well on the way to hitting…