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28.04.2017  

First quarter shows operating EBITDA growth by 115.5%

  • Operating EBITDA* increases to EUR 15.3 million
  • Group revenues increase by 3.6% up to EUR 26.2 million
  • iTWO Mass Market increases by 39.9%
  • Maintenance and SaaS increases by 19.2%
  • Cash generated from operations rise by 59.1%

Stuttgart, Germany, 28 April 2017. RIB Software SE (ISIN DE000A0Z2XN6), the world’s leading provider of 5D BIM Big Data technology for the construction industry, announces today its financial figures for the first quarter of 2017.

Despite a very strong prior-year quarter Q1 2016, the RIB Group was able to achieve rates of growth in sales and earnings. Even though there were recognized two very large Phase II orders in the amount of EUR 2.9 million in the Key Account segment in the first quarter of 2016, the software licence sales amounted to EUR 6.5 million, only EUR 1.2 million below the previous year. This is mainly due to a gratifying growth in software licence sales in the Mass Market, which rose by 39.3% to EUR 3.9 million (previous year: EUR 2.8 million). The in Q1 2017 announced Phase III Deal will be recognized as revenue in Q2 2017.

The accrued maintenance sales increased by 22.7% to EUR 8.1 million (previous year: EUR 6.6 million) and are continuing to account for a large proportion of recurring sales. In total, recurring sales (maintenance and SaaS) rose by 19.2% to EUR 12.4 million (previous year: EUR 10.4 million). Sales of the consulting services increased by 9.6% to EUR 5.7 million (previous year: EUR 5.2 million).

The operating earnings before interest, taxes, depreciation and amortisation (operating EBITDA*) increased by 115.5% to EUR 15.3 million compared with the previous year (previous year: EUR 7.1 million). The operating EBITDA-margin amounted to 58.4% (previous year: 28.1%). The operating earnings before taxes (operating EBT*) rose during the reporting period by 140.8% to EUR 11.8 million (previous year: EUR 4.9 million). The main reason for that is the sale of software licences to the joint venture YTWO in the amount of EUR 7.6 million.

Consolidated Figures - Overview

EUR million unless otherwise indicated

Q1 2017

Q1 2016

change

Revenue

26.2

25.3

3.6%

Software licence

6.5

7.7

-15.6%

Software as a Service / Cloud

4.3

3.8

13.2%

Maintenance

8.1

6.6

22.7%

Consulting

5.7

5.2

9.6%

e-Commerce

1.6

2.1

-23.8%

Operating EBITDA*

15.3

7.1

115.5%

          as % of revenue

58.4 %

28.1%

 

Operating EBT*

11.8

4.9

140.8%

          as % of revenue

45.0%

19.4 %

 

Write-downs from purchase price allocations

0.9

1.0

-10.0%

Cash generated from operations

25.3

15.9

59.1%

Cash incl. available-for-sale securities**

165.4

135.4

22.2%

Equity ratio**

79.5%

82.1%

 

Average number of employees

785

741

5.9%

 

* EBITDA and EBT adjusted for currency effects (Q1 2017: € -0.1 million; Q2 2016: € -2.9 million) and one-time/special items (Q1 2017: €+ 0.4 million; Q1 2016: €+0.0 million)

**Illustration of previous year as at 31 December 2016

The complete Interim Report (January - March 2017) is available for download on the RIB Group website under investor relations.

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