A sparring partner for the Executive Board
Stefanie Zimmermann doesn't have to think long to answer the question of what characterises successful communication with the capital markets: „The key is to communicate continuously and not hide anything,“ advises the Head of Investor Relations (IR) at Nemetschek. „In good times and bad, the most important thing is transparency.“
In her view, one key point is always to publish the exact key figures, even if one or two of them are less favourable. It may be obvious, but is proven to be true time and time again: „The capital market's trust can be lost quickly, but it only comes back slowly,“ says the 53-year-old.
Closely involved
Proximity to the Management Board is essential for credible investor relations work. This is the only way to stay informed at an early stage, and provide comprehensive information. „I am lucky that all of Nemetschek's CEOs and chairmen have closely involved me and recognise the importance of IR,“ says Zimmermann. She also sees her role as a sparring partner for the Executive Board. She is often asked for advice. „If something is communicated incorrectly to the capital markets, it not only damages the company, but ultimately also the executive board itself.“
Passionate about communication
Stefanie Zimmermann has a wealth of experience, having worked in communications with investors, analysts and the media for more than 20 years. Since 2013, she has led a team of seven colleagues at Nemetschek, the Munich-based provider of construction software. She first came into contact with her profession while earning her degree in business administration at the University of Erlangen-Nuremberg. Professor Wolfgang Gerke, a professor of banking and stock exchanges, who was well known beyond the university for his appearances on TV, got her interested in communications.
As a working student at HypoVereinsbank, she came into contact with the medical technology start-up Wave Light in Erlangen, a spin-off from Carl Zeiss. The company, which specialised in ophthalmology, went public in September 2000. Zimmermann stayed there until the end of 2006 and learnt the IR trade, before Wave Light was sold to the US pharmaceutical company Alcon.
Go-to-person
She has fond memories of her first job: „My work there was very varied – that tied me to IR", she says. Since then, she has never considered another occupation. She did pioneering work at the start-up Wave Light: „I was the go-to person for everything there, so to speak, and was also in charge of corporate communications.“ She found everything fascinating and instructive – the first Annual General Meeting, the first annual report, the first quarterly report.
This was followed by Norcom and Augusta, both of which, like Wave Light, were listed on the Neuer Markt of the Frankfurt Stock Exchange. Zimmermann was Head of IR and Corporate Communications. In 2012, she moved to Audi: „I was only involved in financial reporting there,“ she explains. „I missed the other tasks, and the contact with investors and analysts.“ After just nine months at the car manufacturer, she seized the opportunity and moved to Nemetschek.
Low free float
One challenge from the capital market's point of view is the relatively low free float of 49%. The family and foundations of company founder Georg Nemetschek hold the majority stake. But thanks to Nemetschek's vastly increased market capitalisation, and several share splits, the concerns of investors have eased. When she started eleven years ago, the market capitalisation was 400 million euros. Todays figure is around 10 billion euros.
She does not worry about the controlling stake. „Having a firm anchor shareholder has many advantages,“ emphasises Zimmermann. „For example, we don't have to reckon with the actions of activist shareholders.“
„Not on the radar at the beginning“
She is satisfied with the development of the company and how it is perceived. „In the beginning, investors didn't have Nemetschek on their radar,“ she says. „Very few of them knew the company.“ However, this has changed: „In the community, especially in the USA and the UK, we have long been known and have raised our profile.“ As Nemetschek is not a product brand and is primarily a household name in the construction industry, planning and architects, the company is little known to the public. „We are more of a hidden champion,“ says Zimmermann. In her circle of acquaintances, she occasionally encounters the reaction "never heard of it“. That saddens her a little.
