Nemetschek AG to Suspend FY08 Dividend
Special repayment of credit for Graphisoft acquisition of 5M euros
planned
 MUNICH,
Germany, Mar 26, 2009 - The managing board and supervisory board of
Nemetschek AG (ISIN 0006452907), Europe's largest vendor of software for
architecture, civil engineering and the building industry, have decided to
propose the following to the company's shareholders at the upcoming Annual
General Meeting: the suspension of the dividend payment for fiscal 2008 and
carrying of the balance sheet profit of 7.7 million euros to a new account.
As was announced with the provisional figures, Nemetschek managed to grow
profitably even during the crisis year 2008, achieving an EBITDA margin in
excess of 20 percent and succeeded in keeping the cash flow for the period
stable at almost 30 million euros. But due to the uncertain global economic
situation, the managing board and supervisory board prefer not to make a
dividend payment, but to repay existing liabilities as quickly as possible
and thus further consolidate the groups capital base. The plan is to make a
special repayment of 5 million euros towards the loan taken for the
acquisition of Graphisoft. Furthermore, the management is counting on tight
cost management and focusing on maintaining a healthy cash flow. Within two
years, Nemetschek has managed to reduce the liabilities for the loan for the
Graphisoft acquisition by more than half. The debt now stands at 49.3
million euros. The equity ratio increased from 34.4 to 40.6 percent in 2008.
The complete annual report 2008 will be published on March 27, 2009
according to plan. Explanations After four years of ongoing dividend
payments and a by all means acceptable course of business in 2008 the
decision was not an easy one to make, emphasized Ernst Homolka, member of
the managing board and CEO, Nemetschek AG. Our shareholders know that we let
them participate directly in the success of the company in good years. But
in the middle of a world economic crisis of unknown dimensions we are well
advised to play it safe. With an equity ratio of more than 40 percent and
the managements clear focus on a healthy cash flow, the Nemetschek Group is
equipped to deal with even a crisis of longer duration.
For more information, email:
investorrelations@nemetschek.com
About Nemetschek
The Nemetschek Group is a leading international IT company in the AEC
sector (Architecture, Engineering, Construction). The technology group
develops integrated solutions for the complete life cycle of buildings and
real estate – from building design and construction through to facility
management. The company’s products are currently used by more than 270,000
companies in 142 countries and in 16 languages to optimize the complete
building creation and management process in terms of quality, cost and time.
Nemetschek was founded in 1963 by Prof. Nemetschek and has more than 1,100
employees worldwide. In fiscal 2007, the group achieved revenues of 146
million euros.
For more information, visit
http://www.nemetschek.com.
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Source: Material used in press releases is often supplied by external
sources and used as is.
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