Nemetschek stock falls 13.44% as Q3 outlook stays intact
Published on 11/07/2026 at 11:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGrowth Holds Despite Segment Pressure
- Nemetschek reported strong third-quarter revenue, recurring-revenue and EBITDA growth after consolidating HCSS from July.
- Management reaffirmed its 2026 organic revenue and EBITDA margin targets while lowering expectations for Manage and Media.
- New Max AI offerings extend the group's product strategy across architecture, engineering and construction in the Middle East.
Nemetschek's third-quarter report on Thursday, November 5, showed strong growth after the first consolidation of HCSS, but also highlighted weaker momentum in several businesses. The company reaffirmed its full-year group outlook, while narrowing expectations for its Manage and Media segments.
Nemetschek stock traded at 64.83 euros on Lang & Schwarz at 23:00 CET on Friday, November 6, 0.12 percent above the Xetra close of Friday, November 6. The share closed the week 13.44 percent below the Xetra close of Friday, October 30, when it stood at 74.80 euros.
HCSS lifts revenue and recurring sales
According to Nemetschek's investor release, third-quarter revenue rose 26.6 percent to 371.1 million euros, including HCSS from July 1. Organic revenue increased 13.7 percent, while annual recurring revenue grew 35.8 percent to 1,462.2 million euros. Subscription and SaaS revenue advanced 52.4 percent to 321.9 million euros.
Reported EBITDA increased 21.8 percent to 115.9 million euros, producing a 31.2 percent margin. The organic margin reached 34.8 percent. HCSS purchase-price-allocation effects reduced revenue by about 15 million euros in the quarter, while acquisition-related costs and other integration effects also weighed on reported profitability.
Guidance stays firm, segments diverge
Nemetschek continues to target 14 to 15 percent currency-adjusted organic revenue growth and an EBITDA margin of 32 to 33 percent for 2026. The Design and Build outlooks remain confirmed. Manage revenue is now expected to grow in the mid-single-digit range, while Media revenue is expected to remain broadly stable.
Build was the strongest contributor in the quarter, with revenue up 56.6 percent to 190.8 million euros. Design revenue rose 7.2 percent, Manage gained 4.0 percent and Media declined 2.7 percent. Reported earnings per share fell to 0.40 euros, while adjusted earnings per share increased 20.0 percent to 0.66 euros.
AI rollout broadens product reach
Nemetschek also introduced Archicad Max, Allplan Max and Bluebeam Max across the Middle East. ZAWYA reported that the offerings use the Nemetschek Intelligence Platform to support architecture, engineering and construction workflows. Bluebeam Max and Allplan Max 2027 are available globally, while Archicad Max is rolling out by region.
For investors, the results point to a mixed operating picture: HCSS and recurring revenue support expansion, while acquisition effects and slower transitions in selected segments complicate the reported earnings trend.
The DAX provides the broader German equity backdrop for investors.
See the real-time quote of Nemetschek stock for the latest trading indication.
Nemetschek SE at a glance
- ISIN: DE0006452907
- Ticker: NEM
- Indices: MDAX, TecDAX
- Lang & Schwarz quote: 64.83 euros, Friday, November 6, 2026, 23:00 CET
- Xetra close: 64.75 euros, Friday, November 6, 2026
- Weekly change: -13.44 percent versus the Xetra close of Friday, October 30, 2026
