Q1 2026 Nemetschek SE Earnings Call Transcript
Key Points
- Nemetschek SE (NEMTF) reported a strong start to 2026 with a revenue growth of 10.7% to EUR313.1 million, and an adjusted growth of 17% when accounting for FX headwinds.
- The company's annual recurring revenue (ARR) grew by 14.4% on a reported basis and 21% FX-adjusted, reaching nearly EUR1.2 billion.
- The Build segment showed impressive growth, with a reported increase of 19.8% and 29.8% FX-adjusted, driven by strong performance in North America and internationally.
- The acquisition of Heavy Construction Systems Specialists (HCSS) is expected to increase market opportunity by 30% in the infrastructure and heavy civil construction market.
- Nemetschek SE (NEMTF) continues to focus on AI-driven innovations, exemplified by the successful launch of the Bluebeam Max package, enhancing their AI-enabled product offerings.
- The company faces continued FX headwinds, primarily due to a weaker US dollar, impacting reported growth figures.
- The Media segment experienced modest growth of 0.8% reported and 6.6% on a constant currency basis, influenced by a mixed market environment and longer customer investment decision cycles.
- Despite strong growth, the transition to a subscription and SaaS-based business model has led to a decline in license revenues by 53.7% year-over-year.
- The geopolitical situation in the Middle East poses a potential risk, although the company currently has limited direct exposure to the region.
- The acquisition of HCSS will impact the group's net debt position by approximately EUR450 million, though the company maintains its financial flexibility.
Hello, everyone, and a warm welcome.
Thanks for joining our earnings call today to discuss the results for the first quarter 2026 with us. With me today are our CEO, Yves Padrin, and our CFO, Lee Silverstrom.
Today's conference call is being recorded. A replay of the call will be available at our website after the call.
Additionally, you will find the quarterly report, the presentation, and the press release on our investor relations website as well.
But now, let's get started. So I would like to turn over to our CEO, Eve. Eve, go ahead.
Thank you, Stephanie. Welcome, everyone, to our earnings call for the first quarter of 2026. Last month, as part of our full-year 2025 results, we shared a substantial amount of detail on our key strategic priorities, including our AI and M&A strategy.
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