Collaboration par excellence

Example: Hasselt City Hall, Belgium — The building of the new municipal administration center in Hasselt, Belgium, demonstrates how seamless collaboration in building projects can minimize risks and save costs from the design phase all the way to commissioning.
A joint project of several brands of the Nemetschek Group.
Nemetschek brands involved: Allplan, GRAPHISOFT, Solibri

Pioneering planning and project execution with Open BIM

“The end-to-end use of BIM solutions constitutes genuine added value for all stakeholders in the building process
because it enables seamless and efficient collboration”
Steven Hendrickx, Head Architect in Hasselt

Large-scale, highly complex building projects in particular require ongoing, reliable and efficient coodination between all stakeholders – both internal and external – across disciplines and between companies. Therefore, in association with other market players, the Nemetschek Group is promoting the Open BIM data standard. This is a universal, collaborative approach to designing, constructing and operating buildings based on open standards and workflows It makes it possible for project stakeholders to collaborate, even if the type of software varies from user to user. The Industry Foundation Classes (IFC) interface has established itself as an open standard and is therefore of central significance.

Sharing and evaluating data throughout the entire product life cycle saves time and money and improves quality. The administration of data is key to this digital transformation, for it is only possible to take full advantage of the potential if each stakeholder can access the data that he or she needs at any given time. This begins with a realistic BIM building model, which is an essential prerequisite for a genuine 5D workflo. This model is no longer limited to just 3D construction data; it also includes data concerning the dimensions of time and costs.

Seamless collaboration exemplified by the Hasselt City Hall

Under the management of the architect team comprising Jaspers-Eyers, MASS Architects and Michel Janssen, a new municipal administration center is being built in Hasselt. The complex, consisting of a renovated building section and a new building, provides approx. 17,000 m2 for the city administration and social services as well as offices. The architects and their most important partners are using Open BIM software solutions for the entire construction process. Three Nemetschek solutions are being implemented for this project: Archicad from Graphisoft for the design and planning of the architects, Allplan Engineering for civil engineering, and the Solibri Model Checker for the BIM quality control carried out by the construction company.

From the beginning, all information concerning the building project is contained in the digital building model – from the draft to implementation – including all design details, desired materials, fire protection requirements, acoustic properties, insulation and building structures, and administration. This constitutes considerable added value for all stakeholders compared to the old standard model, which was purely 3D. Thus, this improvement ensures more than just seamless collaboration between all those involved. The complex project can be turned over to the municipality – the proud building owner – with the required quality, on time and within the specified budget.

Hasselt City Hall is groundbreaking – in terms of design, planning and project implementation.

Independent and yet consistent

Steven Hendrickx, the head architect in Hasselt, recognized four decisive factors with Open BIM over the course of the successful project:

  • Individual partners design their model with their preferred BIM software, and with their own templates. Outstanding collaboration is ensured, though, thanks to a common, uniform standard which is specified in advance.
  • The division of labor is defined at the beginning of the project. Data on statics, for instance, have an essential impact on the architecture and structural design. Data on heating, ventilation and air-conditioning, on the other hand, are also important but don’t generally flow directly into the architecture. These data, for example, can be sufficiently analyzed with the BIM solution for quality assurance from Solibri.
  • Design changes in one area don’t necessarily affect the plans of all the others involved in the project. The architecture and the building stage are inherently the most closely linked.
  • The expertise of the staff, i.e., extensive holistic knowledge of the various building disciplines, is also critical for the success of the project.

Two examples of the advantage of precise planning

In Hasselt, the construction company was commissioned with excavation, among other tasks. An assessment of the amount of sand that needed to be removed was done based on a cal culation using conventional 2D planning methods, which yielded a result of 800 cubic meters. The engineers used the Solibri Model Checker based on Open BIM and the data provided by the architects and arrived at a figue that was just half this amount, i.e., 400 cubic meters of sand. This shows how exact the work with Open BIM solutions can be.

The steel struts to be installed are another example: With the interface function IFC Exports from Allplan, it was possible to use the BIM model to automatically calculate which steel struts needed fieproofing. All it took was a mouse click to obtain precise results, right down to the running meter. In projects that don’t use Open BIM solutions, these calculations are made by manually entering the data from 2D drawings in Excel or some other software and then recalculating and evaluating the data for use in quotations and planning, a process that is susceptible to error and one that leaves a lot of room for interpretation. These errors often go undetected until the actual cost planning is already completed. In the case of the Hasselt City Hall,  it was possible to avoid such errors from the outset.

Converting to Open BIM pays off

As is the case with any change, it takes a certain amount of time for companies and employees to accept BIM as the norm. The best way, according to Steven Hendrickx, is to start out by planning smaller projects using BIM. The experience thereby gained will make it possible to complete successively larger BIM projects. The advantages of collaborating through Open BIM are obvious: The entire workflow is much simpler for all project stakeholders, and building projects are completed within time and cost budgets.

CONCLUSION

Consistent standards and open interfaces in par-ticular are essential for successful building projects. Stakeholders need solutions that can “work together” for all and any individual tasks being performed. Seamless collaboration between humans and machines: This is ensured with Open BIM, and backed by the brands of the Nemetschek Group.

Reference projects on this topic:

Nemetschek Group with record revenue in the third quarter of 2015

Corporate News Company News

  • Revenue grows by 38.2% to reach new top mark of EUR 70.7 million in Q3
  • Nine-month revenue increases by 34.2% to EUR 205.9 million
  • Non-domestic business and software licenses as growth drivers
  • EBITDA at EUR 49.4 million (+27.2%) after nine months completely within expectations
  • After revenue forecast is raised, EBITDA target range is also increased for 2015

Munich, October 30, 2015 – The Nemetschek Group (ISIN 0006452907) continued to demonstrate dynamic business development in the third quarter of 2015. The strong growth of 38.2% in the period from July to September – a record value for a third quarter – was driven organically and as a consequence of the acquisition of US company Bluebeam Software, Inc. in the previous year. The greatest growth impulses came from abroad and from the revenue from software licenses. Parallel to this, the company continued to invest in extending its international market presence, its sales and its marketing, and in expanding its BIM 5D expertise. Nemetschek had only recently adjusted its revenue forecast significantly upwards for 2015 when the executive board also raised the target range for the Group EBITDA.

“We picked up even more speed in the third quarter. It’s becoming clearer and clearer that our strategic investment in new brands, solutions and markets is paying off and that we are thus laying the foundations for future growth,” says Patrik Heider, Spokesman of the Executive Board and CFOO of the Nemetschek Group.

Major indicators of the Group’s success

  • Group revenue in the third quarter rose to EUR 70.7 million, a growth of 38.2% compared to the same quarter in the previous year (EUR 51.2 million). In the first nine months of 2015, revenue increased by 34.2% to EUR 205.9 million (previous year’s period: EUR 153.5 million). Adjusted for currency effects, revenue from January to September rose by 28.5%. Bluebeam Software contributed EUR 11.1 million to Q3 revenue and EUR 32.1 million to nine-month revenue. The Group’s organic growth thus remained at a high 16.5% in Q3; 13.3% from a nine-month perspective.
  • Likewise, earnings before interest, taxes, depreciation and amortization (EBITDA) rose considerably by 27.0% in Q3 to EUR 16.8 million (Q3 2014: EUR 13.2 million). In the first nine months, it was possible to raise EBITDA to EUR 49.4 million, an increase of 27.2% (previous year’s period: EUR 38.8 million). The earnings figure accounts for future-oriented investments, e.g. for increasing personnel in the areas of sales and marketing.
  • The EBITDA margin for Group revenue was 24.0% after nine months, and thus completely within the company’s expectations (9M 2014: 25.3%).
  • The tax rate after three quarters rose to 31.0% (previous year’s period: 26.9%). The increase is caused in particular by deferred tax expenses on unrealized intra-Group foreign exchange gains.
  • In the first nine months, net income for the year (Group shares) rose by 8.3% to EUR 24.2 million (previous year’s period: EUR 22.3 million). Accordingly, the earnings per share increased from EUR 0.58 in the previous year’s period to EUR 0.63.
  • Adjusted for depreciation and amortization from purchase price allocation (PPA), which increased as a result of the Bluebeam acquisition, net income for the year rose even more strongly by 19.0% to EUR 29.6 million (previous year’s period: EUR 24.8 million). This corresponds to an adjusted earnings per share figure of EUR 0.77 (previous year’s period: EUR 0.65 per share).

Global growth course advances

The Nemetschek Group has continued to advance its global market alignment. In total, non-domestic revenue in the first nine months of 2015 climbed by 50.8% to EUR 137.7 million (9M 2014: EUR 91.3 million). In the USA, the home market of Bluebeam Software (acquired in 2014), it was possible to more than triple revenues. Domestic revenue also developed positively and rose by 9.8% to EUR 68.3 million (9M 2014: EUR 62.2 million).

With a plus of 48.7% to EUR 106.7 million (previous year’s period: EUR 71.8 million), revenue from software licenses constituted a further growth driver. Recurring revenue from software service contracts increased by 21.7% to EUR 89.9 million (previous year’s period EUR 73.8 million).

Balance sheet ratios show financial strengths and soundness of the Group

The Group’s net asset structure and financial position remain extremely sound. As of September 30, 2015, the equity ratio rose to 48.9% (December 31, 2014: 46.8%). Moreover, the Nemetschek Group demonstrates very good cash generation with simultaneously high-quality growth. As of September 30, 2015, cash and cash equivalents increased to EUR 71.5 million (December 31, 2014: EUR 57.0 million) and net liquidity improved to EUR 20.5 million (December 31, 2014: EUR -3.0 million).

Development of the segments

In the Design segment, revenue in Q3 rose by 18.1% to EUR 49.4 million. Accumulated, revenue from the first nine months increased to EUR 143.4 million, a plus of 13.4% over the previous year’s period (EUR 126.4 million). From January to September, EBITDA rose to EUR 34.7 million (9M 2014: EUR 31.0 million), which corresponds to an EBITDA margin of 24.2% (previous year’s period: 24.5%). The strong growth is caused, among other things, by the new releases of the Graphisoft and Vectorworks brands and their further internationalization.

As a result of the Bluebeam acquisition, the Build segment underwent great expansion. Bluebeam itself reinforced its international presence, e.g. through the acquisition of Swedish distributor Bluebeam AB and through new reseller and technology partnerships. In the first three quarters, segment revenue increased to EUR 43.5 million, which is more than quadruple the previous year’s value of EUR 10.7 million. Organic nine-month revenue of EUR 11.4 million was thus 6.5% more than that of the previous year. EBITDA jumped to EUR 8.0 million (previous year: EUR 2.0 million) with an almost unchanged EBITDA margin of 18.5% (9M 2014: 18.7%).

Revenue in the Manage segment increased by 11.4% to EUR 4.2 million (9M 2014: EUR 3.7 million). EBITDA remained at the previous year’s level at EUR 0.6 million, which corresponds to an EBITDA margin of 15.4% (previous year’s period: 16.9%).

In the first nine months, the Media & Entertainment segment showed a favorable growth in revenue of 18.0% to EUR 14.9 million following EUR 12.6 million in the previous year’s period. EBITDA increased to EUR 6.0 million (previous year’s period: EUR 5.2 million), and thus the EBITDA margin remained at a high 40.6% (previous year’s period: 41.0%).

Outlook for fiscal year 2015: EBITDA forecast increased

Following dynamic development in the first nine months, and in the third quarter not least of all, the executive board anticipates that in 2015 the Nemetschek Group will considerably improve Group revenue and consolidated earnings compared to the previous year and will post new record highs. The EBITDA forecast was adjusted upwards: EBITDA in the range of EUR 65 million to 67 million is now expected (previously: EUR 62 to 65 million). The Nemetschek Group had already increased its revenue forecast at the beginning of October to a range of EUR 278 million to 282 million (previously: EUR 262 million to 269 million). Compared to the previous year’s value, this results in a planned growth in revenue (EUR 218.5 million) of 27% to 29% (previously: 20% to 23%).

Overview of key figures

In EUR millionQ3 2015Q3 2014Δ in %9M 20159M 2014Δ in %
Revenue70.751.2+38.2%205.9153.5+34.2%
- Software licenses revenues36.423.5+55.0%106.771.8+48.7%
- Recurring revenues31.525.3+24.4%89.973.8+21.7%
EBITDA16.813.2+27.0%49.438.8+27.2%
Margin23.8%25.9% 24.0%25.3% 
EBITA (normalized EBIT)15.111.9+27.4%44.535.2+26.6%
Margin21.4%23.2% 21.6%22.9% 
Net income (Group shares)8.77.9+9.6%24.222.3+8.3%
Earnings per share in EUR0.230.21*+9.6%0.630.58*+8.3%
Net income (Group shares) before depreciation and amortization from purchase price allocation10.58.8+19.4%29.624.8+19.0%
Earnings per share before depreciation and amortization from purchase price allocation*0.270.23*+19.4%0.770.65*+19.0%

* For reasons of better comparability, the earnings per share after the stock split are shown

Key figures by segment

In EUR millionQ3 2015Q3 2014Δ in %9M 20159M 2014Δ in %
Design      
Revenue49.441.9+18.1%143.3126.4+13.4%
EBITDA13.010.8+20.8%34.731.0+11.7%
Margin26.3%25.7% 24.2%24.5% 
Build      
Revenue14.93.6+318.4%43.510.7+306.8%
EBITDA1.70.4+355.0%8.02.0+303.8%
Margin11.6%10.7% 18.5%18.7% 
Manage      
Revenue1.51.3+11.7%4.23.7+11.4%
EBITDA0.30.3+21.1%0.60.6+1.3%
Margin23.2%21.4% 15.4%16.9% 
Media & Entertainment      
Revenue4.94.4+10.8%14.912.6+18.0%
EBITDA1.71.8-3.7%6.05.2+17.0%
Margin35.5%40.8% 40.6%41.0% 

The complete nine-month report for 2015 is available for download in the Investor Relations section of the company website.

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