Report
David Vignon

NEMETSCHEK: Feedback from our roadshow with management | Conviction BUY Top Picks | EUR76 VS. EUR74 (+29%)

NEMETSCHEK - Conviction BUY Top Picks | EUR76 VS. EUR74 (+29%)
Feedback from our roadshow with management

Reducing the complexity of the group’s structure
Transitioning to subscriptions step by step
Grab the unpenetrated land…
… Including through M&A deals
Confident tone for next year
One-year target price at EUR76, we reiterate our conviction buy rating
Underlying
Nemetschek SE

Nemetschek is a holding company. Through its subsidiaries, Co. is a software provider for the architecture, engineering, construction, and management industry. Co.'s business activities comprises of 12 brands, which provide solutions for architects, structural designers, and civil and specialist engineers as well as software for cost and schedule planning, tenders, awarding of contracts, invoicing, and execution of building work. There are also solutions for technical facility management and commercial property management as well as for architecture, film, animation and advertising visualization software. Co. organizes its operations into four segments: Design, Build, Manage and Multimedia.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
David Vignon

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