Nemetschek Group: Successful First Half of 2026 with Continued Strong Profitable Growth

Corporate News

Nemetschek Group: Successful First Half of 2026 with Continued Strong Profitable Growth

• +14.5% revenue growth (currency-adjusted) to EUR 327.7 million in Q2
• +29.6% growth (currency-adjusted) in subscription/SaaS revenue to EUR 266.4 million in Q2
• +15.8% increase in EBITDA (currency-adjusted) in Q2 to EUR 98.6 million
• Reported EBITDA margin in Q2 at 30.1%; adjusted for acquisition-related one-off costs at 31.0%
• +25.3% growth in earnings per share to EUR 0.57 in Q2
• Organic outlook for financial year 2026 fully confirmed, 2026 outlook expanded following the acquisition of HCSS

Munich, July 30, 2026 – The Nemetschek Group (ISIN DE 0006452907), a leading global, vertical provider of AI-powered software solutions for the construction and media industries, successfully continued its dynamic growth trajectory in the second quarter of 2026. Following the strong business performance in the first half of the year, the company fully confirms its previous outlook for the organic business (i.e., excluding acquisition effects) for the financial year 2026. In addition, the outlook has been expanded to reflect the consolidation of HCSS as of July 1, 2026.

“The first half of 2026 was characterized by continued very strong operational performance and important strategic milestones for the Nemetschek Group,” says Yves Padrines, CEO of the Nemetschek Group. “With the successful closing of the HCSS acquisition, the largest acquisition in the company’s history, we are strengthening our market position in the infrastructure and heavy civil construction sector, which offers very attractive long-term growth prospects. At the same time, we consistently continue to execute our AI strategy. The successful market launch of our agentic AI suite, Bluebeam Max, together with the further expansion of Group-wide AI solutions, sets new standards for the integration of AI across our industries. The combination of strong organic growth, strategic investments and a clear AI strategy provide an excellent foundation for sustained profitable growth and long-term value creation for our customers, partners and shareholders.”

Key Group Financial Highlights for Q2 and the First Half of 2026

• Group revenue continued its strong growth in Q2, increasing by 14.5% at constant currency to EUR 327.7 million compared to the same period last year. Reported revenue growth, including negative foreign currency effects, was at 13.0%. In the first half of 2026, Group revenue increased to EUR 640.7 million, representing a constant-currency growth of 15.7% (reported: 11.9%). The Build segment once again was the main growth driver. 
• Annual Recurring Revenue (ARR) increased by 17.4% at constant currency (reported: 15.9%) to EUR 1,249.5 million in Q2, outpacing Group revenue growth. The main driver were revenues from subscription and SaaS models, which increased by 29.6% at constant currency (reported: 27.8%) to EUR 266.4 million. For the first six months of 2026, subscription and SaaS revenue increased by 32.4% at constant currency to EUR 514.7 million (reported: 27.5%).
• Consolidated operating earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 15.8% at constant currency to EUR 98.6 million in Q2 (reported: 11.5%). In addition to the slightly negative translation currency effect stemming mainly from the weaker USD, the EBITDA was also impacted in the second quarter by an extraordinary transactional currency effect. This effect in the higher-single-digit million-euro range resulted from the revaluation of assets & liabilities held in non-functional currency of an individual Group company as of the reporting date, due to significant and unexpected exchange rate fluctuations during the second quarter of the year. The EBITDA margin in Q2, including this effect, reached 30.1%. Additionally, the EBITDA margin in Q2 includes acquisition-related one-off costs of a low single-digit million-euro amount. Adjusted for the one-off acquisition-related costs, the EBITDA margin in Q2 amounted to 31.0%. For the first half of 2026, EBITDA increased by 24.0% at constant currency (reported: 16.5%) to EUR 197.0 million, corresponding to an EBITDA margin of 30.7% (same period last year: 29.5%). Adjusted for the one-off acquisition-related costs the EBITDA margin in H1 was 31.5%.
• Net income for the quarter increased significantly by 25.4% to EUR 66.0 million, corresponding to earnings per share (EPS) of EUR 0.57 (Q2 2025: EUR 0.45). For the first half of the year, net income increased by 29.9% to EUR 126.4 million; earnings per share were at EUR 1.09 (prior year: EUR 0.84).

 Strategic Highlights

In the first half of 2026, the Nemetschek Group achieved key strategic milestones to consistently advance its growth strategy.

• With the acquisition of Heavy Construction Systems Specialists, LLC (HCSS), headquartered in Sugar Land, Texas, the Nemetschek Group completed the largest acquisition in the Company's history. The transaction, which was announced in mid-April 2026, was legally completed (closed) on July 1, 2026. Through this acquisition, the Nemetschek Group further strengthens its presence in the attractive infrastructure and heavy civil construction market within its Build segment. HCSS ideally complements the Group's existing solution portfolio and opens up additional growth opportunities in this structurally attractive, highly growing market.

• The launch of Bluebeam Max, the Nemetschek Group’s first comprehensive agentic AI solution for the construction industry, marked a major milestone in the execution of its AI strategy. Bluebeam Max supports users with time-consuming tasks such as quality control during the pre-construction phase, document analysis, quantity takeoff, and intelligent information search, thereby increasing productivity and efficiency throughout key construction workflows. In addition, the Nemetschek Group introduced further AI capabilities across several of its brands, further advancing the integration of AI into its software portfolio.

• At the same time, the Nemetschek Group has further expanded its international presence and continued to strengthen its Group-wide go-to-market approach. Following its expansion into growth regions such as India and Middle East, the Nemetschek Group has strengthened its regional footprint in South‑East Asia, while further enhancing collaboration with international AEC/O customers and Group‑wide strategic account management across all brands to unlock additional cross‑selling opportunities.

Segment Performance in the Second Quarter and First Half of 2026 (see table)

• The Design segment recorded constant-currency revenue growth of 9.9% in the second quarter, reaching EUR 142.9 million (reported: 8.9%). The transition of the business model to subscription and SaaS continued successfully and according to plan, as reflected in the strong growth of this revenue category of 46.7% at constant currency (reported: 45.5%). Additionally, the Nemetschek Group continued to offer multi‑year contracts to support the migration of existing customers from service contracts to subscription models. For the first half of 2026, constant-currency revenue growth amounted to 9.7% (reported: 7.3%).
  The reported EBITDA margin for the second quarter was 22.7% (Q2 2025: 30.5%), reflecting the extraordinary impact from the above-mentioned negative foreign exchange effect in the higher-single-digit million euro range from the revaluation of assets & liabilities held in non-functional currency. For the first half of 2026, the reported EBITDA margin was 23.9% (prior-year period: 27.2%).
• The Build segment continued to demonstrate very strong growth, driven in particular by sustained strong new business momentum and successful international expansion. In addition, Bluebeam successfully completed the rollout of its agentic AI suite Bluebeam Max. The solution is now available through all relevant sales and partner channels and for all customer segments, underscoring the Nemetschek Group’s leadership in innovation in the field of AI-powered software solutions for the construction industry. Segment revenue increased by 24.5% at constant currency (reported: 22.4%) to EUR 142.9 million in Q2. Revenue for the first half of the year increased to EUR 277.7 million, representing constant currency growth of 27.1% (reported: 21.1%). The EBITDA margin reached a high 40.1% in the second quarter (Q2 2025: 34.1%) and 39.8% for the first half of the year (prior-year period: 34.6%).
• In the Manage segment, revenue in Q2 increased to EUR 13.1 million, representing a growth of 4.6% both at constant currency and on a reported base. Continued good demand and a well-stocked sales pipeline across both existing and new customers – particularly in the public and financial sectors – provide a solid foundation for stronger growth in the second half of the year. During the second quarter, growth accelerated particularly for software solutions in the areas of Workspace Management and Energy Efficiency. For the first half of 2026, the segment achieved constant-currency revenue growth of 3.8%. The EBITDA margin amounted to 5.1% in the second quarter (Q2 2025: 7.6%) and 7.8% for the first half of the year (H1 2025: 9.3%).
• In the Media segment, revenue remained nearly at the prior-year level at EUR 29.4 million (prior year: EUR 30.1 million). For the first half of 2026, revenue increased by 3.3% at constant currency (reported: -0.7%). Business performance in the second quarter remained below expectations due to the continued challenging market environment. This was primarily driven by customers' ongoing cautious investments, lower spendings for content creation, customer consolidation, as well as extended decision-making and sales cycles. To further diversify the segment, the Nemetschek Group continued to broaden its portfolio. Key initiatives included the launch of the Archviz rendering solution, strengthening the Group's position in the AEC/O industry. The EBITDA margin increased to 27.7% in the second quarter (Q2 2025: 25.2%). For the first half of 2026, the EBITDA margin improved to 29.8% (H1 2025: 28.1%).

Outlook for Full Year 2026

Following a successful first half-year, the Executive Board fully confirms its previous targets for organic business, excluding the acquisition of HCSS. The Executive Board continues to expect currency-adjusted organic revenue growth in the range of 14% to 15% for financial year 2026, as well as an EBITDA margin between 32% and 33%. Excluding acquisition-related one-off costs, the EBITDA margin would have been at the upper end of the guidance range.

Following the first-time consolidation of HCSS as of July 1, 2026, the Executive Board estimates an additional, currency‑adjusted contribution to Group revenue growth of around 600 basis points (including the PPA effect) in the financial year 2026. Including acquisition-related one-off costs and therefore starting from the mid-point of the reported EBITDA margin guidance of 32% to 33%, a dilution of around 150 basis points is expected following the HCSS acquisition. This mainly reflects the expected impact of the purchase price allocation (PPA) for HCSS, as well as ongoing integration expenses and recurring expenses related to a newly established share-based compensation program, designed to support and drive value creation in the expanded Build segment over the coming years.

The contribution of the HCSS acquisition in terms of revenue and EBITDA does not yet reflect the full potential. The statements regarding the expected impact of the HCSS acquisition on the 2026 financial year are subject to the finalization of the PPA for HCSS, which is expected later this year. The PPA will be recognized over a period of twelve months and is expected to be front-end loaded, with the majority being recognized during the first six months. Based on preliminary estimates, it is expected to reduce the revenue of HCSS by a mid- to high-twenties million-euro amount in the second half of 2026, with a corresponding impact on EBITDA.

These forecasts are based on the assumption that global economic and industry-specific conditions will not deteriorate during the current fiscal year. Furthermore, it is assumed that the current conflict in the Middle East will neither escalate significantly nor persist over an extended period.

Consolidated Key Figures in Quarterly Overview (Q2-26)

Key figures by segment in the quarterly overview (Q2-26)

 Key Figures: Half-Year Overview (H1-26)

 Key Segment Figures in the Half-Year Review (H1-26)

For further information about the company, please contact
Nemetschek Group
Stefanie Zimmermann
Investor Relations
+49 89 540459 250
szimmermann@nemetschek.com

About the Nemetschek Group

The Nemetschek Group is a global Construction AI leader and software provider driving the digital transformation of the AEC/O and media industries. With our deep domain expertise and intelligent, connected software solutions, we enable customers to turn data into real-time insights and smarter decisions throughout the entire lifecycle of buildings and infrastructure from ideation through planning, visualization, construction, operation, and renovation. Our AI-powered technologies and open standards approach boost productivity, collaboration, and sustainability for architects, engineers, contractors, building operators, and creative professionals. More than 7 million users worldwide rely on our customer-centric, human-led AI solutions. Founded by Professor Georg Nemetschek in 1963, today we employ over 4,500 experts globally and are ISO 27001-certified, underlining our strong commitment to data security and trustworthy digital innovation.

The Nemetschek Group has been listed on the MDAX and TecDAX since 1999 and generated revenue of EUR 1.19 billion and EBITDA of EUR 371.1 million in 2025.

www.nemetschek.ai