Report
David Vignon

NEMETSCHEK | Unappreciated potential for growth in Media & Entertainment

UPDATE | NEMETSCHEK | Unappreciated potential for growth in Media & Entertainment

Promising development in the Media & Entertainment division. Maxon, the only brand in the Media & Entertainment division accounting for around 9% of group revenue in 2020e, is an increasingly interesting part of the company. Since the arrival in mid-2018 of David McGavran, former Director of Engineering – professional Audio and Video at Adobe, at the helm, Maxon has been making moves with two acquisitions and the start of a transition towards subscriptions. The subscription-based model should be especially beneficial over the mid/long-term, with higher growth rates and a higher share of recurring revenue. From 2021 onwards, we expect a surge in organic growth in the division to reach the mid-twenties.
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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