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30.04.2018  

RIB Software SE with positive business development in the first quarter of 2018: Software license revenues increase by 35.4% to € 8.8 million

  • Group revenues increase by 20.2% to € 31.5 million
  • Software license revenues grow by 35.4% to € 8.8 million
  • Operating EBITDA and adjusted for YTWO* increased by 41.6% to € 10.9 million
  • Maintenance revenues rise by 22.2% to € 9.9 million
  • Cash flows from operating activities adjusted for YTWO** grow by 25.2% to € 25.8 million

Stuttgart, Germany, April 30, 2018. RIB Software SE, the world’s leading provider of iTWO 5D BIM Big Data technology for the construction industry, today announces its financial figures for the first quarter of 2018.

The RIB Group successfully started the financial year 2018. Software license revenues grew by 35.4% to € 8.8 million (previous year: € 6.5 million). Group revenues rose by 20.2% to € 31.5 million (previous year: € 26.2 million). Sales in Germany grew by 14.0% to € 15.5 million (previous year: € 13.6 million). International sales increased by 27.0% to € 16.0 million (previous year: € 12.6 million). Adjusted for acquisitions, Group revenues increased by 12.2% to € 29.4 million.

Deferred maintenance revenues increased by 22.2% from € 8.1 million to € 9.9 million and continue to make up a large share of recurring revenues. In total, recurring revenues (maintenance and SaaS) rose by 13.7% to € 14.1 million (previous year: € 12.4 million). Consulting revenues increased by 12.3% to € 6.4 million (previous year: € 5.7 million).

Operating earnings before interest, taxes, depreciation and amortization and adjusted for the software delivery to YTWO (adjusted operating EBITDA*) increased by 41.6% year-on-year to € 10.9 million (previous year: € 7.7 million). The adjusted operating EBITDA margin was 34.6% (previous year: 29.4%). Adjusted operating earnings before taxes (adjusted operating EBT*) rose by 66.6% to € 7.0 million in the reporting period (previous year: € 4.2 million). At € 1.0 million, expenses from purchase price allocations (PPA amortisation) were at the level of the previous year (€ 0.9 million). Driven by sales growth in high-margin business areas, the gross margin increased by around 3 percentage points to 61.6% (previous year: 58.4%).

CONSOLIDATED FIGURES - OVERVIEW

€ million unless otherwise indicated

 

Q1 2018

Q1 2017

∆ in %

Revenue

31.5

26.2

20.2%

     Software licenses

8.8

6.5

35.4%

     Software as a Service / Cloud

4.2

4.3

-2.3%

     Maintenance

9.9

8.1

22.2%

     Consulting

6.4

5.7

12.3%

     e-Commerce

2.2

1.6

37.5%

EBITDA

9.8

15.7

-37.6%

     as % of revenue

31.1%

59.9%

 

Operating EBITDA and adjusted for YTWO*

10.9

7.7

41.6%

     as % of revenue

34.6%

29.4%

 

EBT

5.9

12.1

-51.2%

     as % of revenue

18.7%

46.2%

 

Operating EBT and adjusted for YTWO*

7.0

4.2

66.6%

     as % of revenue

22.2%

16.0%

 

Cash flows from operating activities

25.8

25.3

2.0%

Cash flows from operating activities adjusted for YTWO**

25.8

20.6

25.2%

Group liquidity***

278.9

134.8

106.9%

Equity ratio****

84.1%

80.5%

 

Average number of employees

890

785

13.4%

 

 * EBITDA and EBT adjusted by currency effects (Q1 2018: € -0.6 million; Q1 2017: € -0.1 million) and one-off / special effects (Q1 2018: € -0.5 million; Q1 2017: € +0.4 million). Previous year adjusted for one-off other operating income: Software delivery YTWO (Q1 2017: € 7.6 million)

** Previous year adjusted by one-time software license payments from YTWO (Q1 2017: € 4.7 million)
*** Cash and cash equivalents, time deposits and available-for-sale securities. Previous year as of 31 December 2017
**** Previous year as of 31 December 2017

The complete Interim Report (January – March 2018) is available for download on the RIB Group website under investor relations.

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