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Nemetschek Shares Rise on Upgraded 2026 Outlook Including HCSS Acquisition
Summary
The German software company's stock rallied after it updated its 2026 financial forecast to include significant revenue contributions from its newly acquired HCSS business, despite a slight margin dilution.
Shares of Nemetschek AG (NEKG) rallied 4.3% to €62.55 after the software company expanded its 2026 financial outlook to incorporate the contribution from its recent acquisition of HCSS, which was consolidated into the group on July 1, 2026.
Updated Guidance Details
Nemetschek reaffirmed its previous guidance for organic currency-adjusted revenue growth of 14% to 15% and an EBITDA margin between 32% and 33%. The company noted that the margin is expected to reach the upper end of this range, excluding one-time costs related to acquisitions.
The integration of HCSS, Nemetschek’s largest-ever acquisition at a value of approximately $2.4 billion, is expected to add significant top-line growth. Key impacts from the deal include:
- An additional 600 basis points of currency-adjusted revenue growth in 2026.
- A modest dilution of the EBITDA margin by approximately 1.5 percentage points due to integration costs.
AdMarket and Sector Context
The stock's advance was supported by several positive factors. A voting rights notification published on Monday revealed that the GVN Familienstiftung had increased its stake above the 10% ownership threshold, providing a positive signal to the market regarding investor confidence.
Sentiment across the broader German software sector was also constructive. The rally followed strong second-quarter 2026 results from industry giant SAP, which reported 22% cloud revenue growth and a 27% surge in its cloud backlog. This positive read-through benefited peers like Nemetschek and TeamViewer. The move also came amid a supportive macroeconomic backdrop, with the German DAX index advancing as risk appetite improved across European equities.
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