Nemetschek SE Expands 2024 Outlook Post GoCanvas Acquisition

Munich, July 24, 2024 – Nemetschek SE has updated its financial outlook for FY 2024 following the acquisition of GoCanvas. The company confirms its previous guidance for organic growth and expands the forecast, incorporating the positive impacts of the acquisition.

The Executive Board expects a currency-adjusted, organic revenue growth of 10-11% in 2024. Annual recurring revenue (ARR) is forecasted to grow by around 25%, with recurring revenue as a percentage of total revenue reaching 85%. The EBITDA margin is anticipated to be between 30-31%.

The acquisition of GoCanvas is projected to add around 3 percentage points to revenue growth in 2024, though it is expected to dilute the EBITDA margin by 100 basis points due to GoCanvas' lower profitability and one-off costs.

In Q2 2024, Nemetschek's revenue increased by 9.7% to EUR 227.7 million, and the EBITDA rose by 9.5% to EUR 61.4 million. The EBITDA margin stood at 27%. For H1 2024, revenue was up by 9.6% to EUR 451.6 million, with the EBITDA increasing by 10.8% to EUR 129.7 million, resulting in a margin of 28.7%.