Check box link 

Software
Group
Software
Group
Back

31.10.2018  

RIB Software SE with successful development in the first 9 months of 2018: Adjusted for currency effects, Group revenues increase by 18.1% to € 96.5 million // Nomination of Dr. Rüdiger Grube as member of the Administrative Board

  • Adjusted for currency effects, Group revenues grow by 18.1%
  • Revenues in the iTWO segment grow by 15.1% to € 87.8 million
  • Maintenance revenues increase by 21.7% to € 29.2 million
  • iTWO EBITDA margin adjusted for YTWO at 34.6%

Stuttgart, Germany, 31 October 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 nine months of 2018.

The RIB Group increased its consolidated revenues as of September 30, 2018 by 16.2% to € 94.9 million (previous year: 81.7 million). Adjusted for currency effects, revenue growth as of September 30, 2018 would have been 18.1%. Despite a strong prior-year period in the key account area with three phase III deals and the time spent by top management in three acquisitions, an organic revenue growth of 4.0% was achieved in the current reporting period.

Deferred maintenance revenues increased by 21.7% from € 24.0 million to € 29.2 million and continue to account for a large share of recurring revenues. In total, recurring revenues (maintenance and SaaS) increased by 14.8% to € 39.5 million (previous year: € 34.4 million). Sales in the iTWO Mass Market segment increased by 9.5% to € 10.4 million (previous year: € 9.5 million).

Despite start-up costs for the MTWO segment of around € 2.0 million, Operating Earnings Before Interest, Taxes, Depreciation and Amortisation (operating EBITDA adjusted by YTWO*) increased to € 28.6 million (previous year: € 28.3 million), which corresponds to an operating EBITDA margin of 30.1% (previous year: 34.6%). Operating Earnings Before Taxes (operating EBT adjusted by YTWO*) reached € 16.5 million in the reporting period (previous year: € 17.4 million).

In the first nine months of 2018, the RIB Group acquired two MSP providers and signed a Take-over agreement for at least 75% with a leading European MSP provider in October.

Dr. Rüdiger Grube, one of Germany’s most recognized leaders, has decided to join the RIB Administrative Board as a non-executive Director. The Administrative Board of RIB will submit the nomination to the authorities and is expected to get approval in Q4 2018.

Increase of Guidance for financial year 2018
Based on the positive development in the first 9 months of 2018 and assuming otherwise stable market conditions, the RIB Group raises its sales guidance for fiscal year 2018 to a range of € 124 million to € 130 million (previously: € 117 million to € 127 million). The EBITDA Guidance of € 33 to € 43 million remains unchanged. To reach the Guidance, no Phase-III-deal is needed (In Financial year 2017, 3 Phase-III-deals were closed).

CONSOLIDATED FIGURES - OVERVIEW

€ million unless otherwise indicated

Q3 2018

Q3 2017

∆ in %

9 months 2018

9 months 2017

∆ in %

Revenue

32.5

28.4

14.4%

94.9

81.7

16.2%

     Software licence

9.2

10.8

-14.8%

27.8

26.6

4.5%

     Software as a Service / Cloud

3.1

3.0

3.3%

10.3

10.4

-1.0%

     Maintenance

9.9

8.1

22.2%

29.2

24.0

21.7%

     Consulting

8.1

4.6

76.1%

20.8

15.2

36.8%

     e-Commerce

2.2

1.9

15.8%

6.8

5.4

25.9%

EBITDA

12.3

11.2

9.8%

31.1

36.1

-13.9%

     as % of revenue

37.8%

39.4%

 

 

 

32.8%

44.2%

 

 

 

Operating EBITDA and adjusted for YTWO*

9.7

11.2

-13.4%

28.6

28.3

1.1%

     as % of revenue

29.8%

39.4%

 

 

 

30.1%

34.6%

 

 

 

EBT

8.0

7.3

9.6%

18.9

25.2

-25.0%

     as % of revenue

24.6%

25.7%

 

 

 

19.9%

30.8%

 

 

 

Operating EBT and adjusted for YTWO*

5.4

7.2

-25.0%

16.5

17.4

-5.2%

     as % of revenue

16.6%

25.4%

 

 

 

17.4%

21.3%

 

 

 

Write-downs from purchase price allocations

1.3

0.9

44.4%

3.5

2.7

29.6%

Cash flow from operating activities

 

 

 

 

 

 

 

 

 

21.4

25.3

-15.4%

Cash flow from operating activities adjusted for YTWO**

 

 

 

 

 

 

 

 

 

21.4

20.6

3.9%

Group liquidity***

 

 

 

 

 

 

 

 

 

251.4

134.8

86.5%

Equity ratio****

 

 

 

 

 

 

 

 

 

85.5%

80.5%

 

 

 

Average number of employees

 

 

 

 

 

 

 

 

 

980

815

20.2%

 

* EBITDA and EBT adjusted by income from the reversal of deferred revenue from software sales to YTWO (Q3 2018: € 2.0 million) / (9M 2018: € 2.0 million), currency effects (Q3 2018: € 0.6 million; Q3 2017: € 0.0 million) / (9M 2018: € 0.9 million; 9M 2017: € -0.2 million) and one-off / special effects (Q3 2018: € 0.0 million; Q3 2017: € 0.0 million) / (9M 2018: € -0.5 million; 9M 2017: € +0.4 million). Previous year adjusted for one-off other operating income: Software delivery YTWO (9M 2017: € 7.6 million)

** Previous year adjusted by one-time software licence payments from YTWO (9M 2018: € 0.0 million; 9M 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 – September 2018) is available for download on the RIB Group website under investor relations.

About RIB Group
RIB Software SE is an innovator in construction business. The company creates, develops and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide. Its flagship product iTWO 4.0 is the world’s first 5D BIM enterprise cloud solution with AI integration for construction companies, industrial companies, developers and project owners, etc. Since its inception in 1961, RIB Software SE 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 1000 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.

Contact & Hotline

Contact