RIB Software SE wins 1,900 active USERS MTWO Cloud Deal in Europe (Phase-II-contract No. 2 / 2020) / RIB moves in 2020 from single audit to Joint Audit, including a Big 4 Audit Firm


DGAP-News: RIB Software SE / Key word(s): Agreement/Miscellaneous
17.01.2020 / 10:32
The issuer is solely responsible for the content of this announcement.


RIB Software SE wins 1,900 active USERS MTWO Cloud Deal in Europe (Phase-II-contract No. 2 / 2020), moving into the cloud gets strong momentum

RIB moves in 2020 from single audit to Joint Audit, including a Big 4 Audit Firm to further strengthen Corporate Governance

Stuttgart, Germany, 17 January 2020. RIB Software SE, the world's leading provider of iTWO 4.0 Cloud Enterprise Platform Technology, has reached a new milestone.

One of the largest listed European general contractors and construction services companies with over 4 Billion Euro revenue and over 10,000 employees has signed an MTWO Phase-II-contract to connect its Headquarter with 1,900 employees in Switzerland, France, Norway, Austria, Germany and Sweden and its Ecosystem in real time using MTWO Cloud as the single source of truth and highly secured cloud database. RIB provides SAAS and IAAS (Infrastructure as a Service) and Managed Services. The company runs an Ecosystem with over 50,000 companies and over 100,000 potential USERS for the MTWO Platform in the future.

Berend-Jan van Maanen CEO of RIB Cloud/SaaSplaza: "We are proud that our active MTWO Cloud USER numbers of our global 24 hours available RIB Cloud team with offices in Amsterdam (Europe/Middle East/Africa), San Diego (America) and Singapore (Asia/Australia) are jumping up so fast. Every quarter the MTWO USER numbers and managed CLOUD Data are climbing faster and faster and our Infrastructure as a Service (MTWO) is outperforming the offerings of world leading players. We are working now on a RIB Cloud Speed Implementation Methodology (CIM) for MTWO, which allows clients to go live with hundreds of fully integrated iTWO modules within not more than 48 hours to mitigate risk and to reach highest value for money. We are proud to see that 2020 the Contech and Proptech sector is catching up worldwide like the Fintech sector 5 years ago. The 10 Trillion USD Building Industry stands for 13% of the world GDP today and we are quite optimistic that our MTWO cloud can win the platform race in our vertical industry. Experts expect that the market is growing to 15 Trillion USD by 2025 and the IT budgets could grow dramatically because almost 100% of the companies in our vertical are planning to start digital transformation of their business and to move from desktop into cloud applications. We are planning to increase our global delivery team and capacity in the next weeks with first class investments in leading CLOUD teams in USA and ASIA to be ready to serve for up to 2 Million USERS in the midterm."

Michael Sauer, CFO of RIB Group: "To win the platform race against Silicon Valley based companies, we need to make sure that we have enough CLOUD people on the ground and offer fastest implementation speed and highest value for money. As a global player and market leader, we are offering the largest technology and services spectrum to our clients, based on 50 years' experience, based on strong alliances with Microsoft and Autodesk. Based on 2,000 RIB building vertical experts in our team, we are a global leading force which will not rest until we are one of the winners of the platform race."

Big 4 Auditor in 2020

The RIB Group is growing now 30-60% p.a. and will have increased 2018 revenue by approx. 100-150% by the end of 2020. In 2020, the majority of the revenues will be generated outside of Germany within over 20 countries worldwide.

To mitigate the risk of over familiarity and to ensure suitable capacity, the Administrative Board of RIB plans to move from a single audit to a JOINT AUDIT including a BIG 4 audit firm in 2020. A Joint audit retains knowledge and understanding of group operations in a way that minimize the disruption caused when a single Audit firm is changed and allows rotation of audit firms in the future. A Joint Audit effectively becomes a guardian for audit quality. Average cost analyses with Joint audits by leading listed entities in Germany and France, such as Schneider Electric, BNP Paribas and Vinci have shown that a Joint Audit is 10% more expensive in the first year, but 10% lower as average starting from the second year.

About RIB Group

RIB Software SE is an innovator in building and construction industry. The company creates, develops and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide. iTWO 4.0, RIB's flagship cloud-based platform, provides the world's first enterprise cloud technology based on 5D BIM with AI integration for construction companies, industrial companies, developers and project owners, etc. With over 50 years of experiences in construction industry, RIB Software SE focuses on IT and engineering and becomes the pioneer in construction innovation, exploring and bringing in new thinking, new working methods and new technologies to enhance construction productivity. RIB is headquartered in Stuttgart, Germany and Hong Kong, China, and listed on the prime standard Frankfurt Stock Exchange since 2011. With over 1,500 talents in more than 30 locations worldwide, RIB is targeting to transform the construction industry into the most advanced and digitalized industry in the 21st century.

17.01.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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