The Nemetschek Group sees SaaS offerings as a significant driver of growth
31 July 2023
The Nemetschek Group, a software provider specialising in digital transformation for the construction industry, is on track to achieve its full-year guidance for 2023, as evidenced by its performance in the first six months.
The company, listed on MDAX, has successfully transitioned its business model from license-based sales to subscription and Software-as-a-Service (SaaS) offerings during the second quarter of 2023, reaching its peak in terms of growth.
The revenue from subscription and SaaS offerings has been a significant driver of growth, increasing by 44.0% to €68.1 million in Q2, and by 42.7% to €132.0 million in the first half of the year.
Despite the ongoing transition to a subscription and SaaS-focused business model, the Group’s revenue in Q2 grew by 1.8% to €207.5 million.
The net income for the second quarter was €32.8 million, equivalent to earnings per share of €0.28. For the first half of 2023, the net income stood at €69.1 million, with earnings per share of €0.60.
Despite the challenges posed by the European construction industry’s market environment and the ongoing business model transition, the Nemetschek Group says that it ‘remains confident in its long-term growth prospects’.