DASTY - Nemetschek Will Benefit Significantly From Construction Momentum
Thesis
Nemetschek (NEMTF) is one of the global leaders in the engineering and construction market with a well-diversified revenue base and a high portion of recurring revenues. The company is well positioned to take advantage of the digitalization of the construction industry as IT and software budgets increase. I also find the company to be undervalued compared to its main competitors.
Business
Nemetschek SE is a Germany-based software developer for the construction industry. As of 2018, it operates through four key segments:
- Design (63% of groups revenue) - the focus of the design