Nemetschek misses organic growth expectations in third quarter

Nemetschek reported third-quarter 2026 results that fell short of market expectations for organic growth, according to analyst commentary released Thursday.

The company posted organic growth of 12.5% for the third quarter, below the consensus estimate of 13.6%. This marked a slowdown from the 14.5% growth rate achieved in the second quarter.

Revenue and EBIT figures aligned with analyst expectations. Earnings per share came in at €0.59, missing the consensus estimate of €0.62.

The Build division led organic growth at 23.6%, while the other three divisions underperformed expectations. The Design segment grew 6.5%, below the 8.3% consensus estimate. The Media division declined 3.1%, compared to consensus expectations of 4% growth.

Total contract assets increased to €45 million from €37 million in the previous quarter, with most of the increase classified as short-term rather than non-current.

Cash conversion for the third quarter exceeded the same period last year, though conversion for the first nine months remained below last year’s levels due to weakness in the second quarter.

The company maintained its full-year 2026 guidance. The results were complicated by the acquisition of HCSS.