Nemetschek (NEM) Q1 2026 earnings summary

Executive summary

• Q1 2026 delivered strong revenue growth of 10.7% to €313.1M, led by robust Build and Design segment performance, successful AI-driven product launches, and continued SaaS transition.

• Strategic transformation toward AI leadership in AEC/O, highlighted by Bluebeam Max launch and HCSS acquisition, expanding addressable market by 30%.

• HCSS acquisition positions the group as a global construction tech leader, enhancing scale, growth, and profitability.

• Recurring revenues, especially from subscription and SaaS, now comprise nearly 95% of total revenues.

• International revenues grew 10%, with foreign markets accounting for 81.9% of total revenues.

Financial highlights

• Q1 revenue grew 10.7% to €313.1M; FX-adjusted growth was 17%.

• EBITDA increased 22% to €98.4M; margin expanded to 31.4%.

• Net income rose 34.5% to €60.4M; EPS reached €0.52.

• Subscription/SaaS revenues up 27.3% to €248.3M; recurring revenue share at a record 95%.

• Net debt improved to €-7.8M; equity ratio at 47.3%.

Outlook and guidance

• 2026 guidance confirmed: organic, currency-adjusted revenue growth of 14–15%, EBITDA margin expected at 32–33%.

• Guidance assumes stable global economic and geopolitical conditions.

• HCSS acquisition consolidation effects to be communicated post-closing, expected in H2 2026.