RIB Software AG (RSTA) with continued dynamic growth of revenue in the first half of 2015
- Group revenue increased by 45.0% to EUR 39.3 million
- Operating EBITDA* increased by 56.5% to EUR 10.8 million
- iTWO Software & Cloud revenues reached EUR 16.6 million (+118.4%)
Stuttgart, Germany, 31 July 2015. By the end of July RIB Software AG has reached 14 large deals and we are optimistic to reach the internal goal of 25 deals in 2015. We strongly believe that we can reach our aspired annual growth rate of 80% (2011-2020) with iTWO software, PS and SaaS deal signings (Phase II/III) in the fifth year in a row.
With this RIB Software AG continued its positive development of the first quarter in the first half of 2015 with strong growth in revenue and earnings. In the first half year Group revenue increased by 45.0% to EUR 39.3 million (previous year: EUR27.1 million). It was pleasing to see that iTWO Software and Cloud revenues saw an increase of 118.4% to EUR 16.6 million (previous year: EUR 7.6 million). Adjusted for acquisitions, overall sales grew by 22.9% to EUR 33.3 million during the first six months (previous year: EUR 27.1 million). In the important market of small and medium-sized enterprises ("mass market") in Germany, revenues grew by 60.7% to EUR4.5 million. These companies are mainly contractors for large investors like Deutsche Bahn or subcontractors for construction companies. This demonstrates the first effects of the increasing demands resulting from clients asking for new digital working methods. The RIB Group also experienced significant international growth during this six month period with sales growing by 103.1% to EUR 19.5 million (previous year: EUR 9.6 million) while the growth was 66.7% excluding the acquisitions.
The operating EBITDA* rose disproportionally by 56.5% to EUR10.8 million (previous year: EUR6.9 million). Pre-tax profits increased to EUR 6.7 million (previous year: EUR 6.4 million). Operating pre-tax profits* grew by 65.9% to EUR6.8 million (previous year: EUR4.1 million).
The acquisition of Soft SA, Madrid, opens the door in the Spanish speaking area to also meet the growing demand of iTWO 5D in this market.
The megatrends "internet of things" and "industry 4.0" will transform the traditional made-to-order production of the construction industry into an industry logic of mass fabrication. Production costs and time will be reduced drastically in consequence. In 2016 we will enter the global market with iTWO 4.0, the 5D platform enabling users to complete large-scale projects on a cost and time base comparable to mass fabrication. With iTWO 4.0 cost savings of up to 30% can be reached. Industry 4.0 and "Internet of Things" have gained further speed and augmented the demand for iTWO technology significantly. With iTWO 4.0 technology we will focus even stronger on large and even very large iTWO deals (Phase III). More detailed information can be taken from our Interim Report January - June 2015.
|EUR million unless otherwise indicated||2nd quarter 2015||2nd quarter 2014||Change||6 months 2015||6 months 2014||Change|
|.thereof iTWO Key Account||1.1||1.2||-8.3%||2.8||1.3||115.4%|
|. thereof iTWO mass market||2.1||1.3||61.5%||4.5||2.8||60.7%|
|. thereof iTWO SaaS / Cloud||4.5||1.4||221.4%||9.3||3.5||165.7%|
|as % of revenue||26.2%||42.9%|| ||27.5%||33.9%|| |
|as % of revenue||26.2%||24.8%|| ||27.5%||25.5%|| |
|as % of revenue||15.7%||32.3%|| ||17.0%||23.6%|| |
|as % of revenue||15.7%||14.3%|| ||17.3%||15.1%|| |
|Profit after tax||2.0||3.5||-42.9%||4.8||5.1||-5.9%|
|Cash flow from operating activities|| || || ||13.5||11.6||16.4%|
|Free cash flow|| || || ||8.8||6.3||39.7%|
|Liquid funds and available-for-sale securities**|| || || ||139.4||137.9||1.1%|
|Equity ratio**|| || || ||84.2%||85.0%|| |
|Average number of employees|| || || ||651||584||11.5%|
* 6M: EBITDA and EBIT adjusted by currency effects (2015: EUR -67 thousand; 2014: EUR +196 thousand) and special effects (2014: EUR +2,116 thousand)
* Q2: EBITDA and EBIT adjusted by currency effects (2015: EUR +15 thousand; 2014: EUR +237 thousand) and special effects (2014: EUR +2.116 thousand)
** Presentation of previous as of December 31, 2014
The complete Interim Report January - June 2015 is available for download on the RIB Group website under investor relations.
About RIB Group
RIB Software AG is an innovator in construction business. The company creates, develops, and offers iTWO³ - new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world's first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software AG has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With about 700 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.