Nemetschek stock slips as HCSS lifts growth, outlook holds

Nemetschek stock traded at 64.73 euros on Lang & Schwarz at 17:43 CET on Friday, November 6, 2026, 0.03 percent below the Xetra close of Friday, November 6. That compares with 67.95 euros in the latest report on Thursday, November 5, at 18:08 CET, a decline of 4.74 percent. Investors can follow the real-time quote of Nemetschek stock.

HCSS drives reported growth

Nemetschek's third-quarter results, released on Thursday, November 5, showed revenue growth of 26.6 percent to 371.1 million euros, including HCSS for the first time after its July 1 consolidation. Organic revenue growth reached 13.7 percent, or 12.5 percent after currency effects.

The figures were published in an EQS release carried by Markets Insider. Annual recurring revenue rose 35.8 percent to 1.4622 billion euros, while subscription and software-as-a-service revenue increased 52.4 percent to 321.9 million euros. Build revenue grew 56.6 percent to 190.8 million euros, supported by HCSS.

Profitability reflects acquisition effects

EBITDA increased 21.8 percent to 115.9 million euros, but the reported margin was 31.2 percent. Purchase-price-allocation effects, merger costs and other HCSS-related expenses weighed on reported profitability, while the organic EBITDA margin reached 34.8 percent.

Net income attributable to shareholders fell 15.7 percent to 46.6 million euros, and reported earnings per share declined to 0.40 euros. Adjusted earnings per share rose 20.0 percent to 0.66 euros after adjustments for acquisition-related effects.

Group outlook remains intact

Nemetschek confirmed currency-adjusted organic revenue growth of 14 to 15 percent and an EBITDA margin of 32 to 33 percent for 2026. HCSS is expected to add around 600 basis points to group revenue growth, while acquisition effects are expected to dilute the reported EBITDA margin.

The outlook for Design and Build was confirmed. Manage is now expected to grow at a mid-single-digit rate instead of a low-double-digit rate, while Media revenue is expected to remain broadly stable. The changes do not affect the overall group outlook.

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