The RIB Group announces its figures for the first quarter of 2019: During the investment phase, Group revenues increase significantly by 47.6% to € 46.5 million
- Recurring revenues (ARR) increase significantly by 67.8% to € 25.5 million (previous year: € 15.2 million)
- Cloud revenues increase by 190.5% to € 12.2 million (previous year: € 4.2 million)
- EBITDA margin of 27.5% in the planned corridor of 20-30% during the investment phase
- Number of MTWO/iTWO 4.0 platform users grows by 181.6% to 8,447 users
Stuttgart, Germany, 30 April 2019. RIB Software SE, the world’s leading provider of iTWO 4.0 Cloud Enterprise Platform Technology, today announces its financial figures for the first quarter of 2019.
High growth rates in the first quarter of 2019
The strong growth during the investment phase, with an average annual growth rate of 30-60% until 2022, continued successfully in the first quarter of 2019 following the strong Q4 2018. Total revenues increased by 47.6% to € 46.5 million (previous year: € 31.5 million). Recurring revenues (ARR) grew by 67.8% to € 25.5 million (previous year: € 15.2 million), in particular due to the strong 190.5% increase in cloud revenues. Cloud and software revenues increased by 84.9% to € 22.0 million (previous year: € 11.9 million). Due to the high number of projects, service revenues continued to develop very positively by 35.4% to € 8.8 million (previous year: € 6.5 million).
Revenues abroad grew by 62.5% to € 26.0 million (previous year: € 16.0 million). Domestic revenues rose by 32.3% to € 20.5 million (previous year: € 15.5 million). The international share of total revenues increased to 55.9% (previous year: 50.8%).
EBITDA rose by 30.6% year-on-year to € 12.8 million (previous year: € 9.8 million). The EBITDA margin was 27.5%. Adjusted for IFRS 16, EBITDA grew by 17.3% to € 11.5 million, while the EBITDA margin of 24.7% during the investment phase was in the expected range of 20-30%. Of the start-up costs in the reporting segments xYTWO and iMTWO planned for 2019 in the amount of approx. € 5.0 million, € 1.2 million were incurred in the first quarter and included in the quarterly EBITDA.
Forecast - 2019 financial year
Based on a very successful business development in the first quarter, we confirm our revenue forecast of € 180 million to € 200 million and an operating EBITDA of € 36 million to € 46 million. The development of the partner network is proceeding according to plan and the acquisition of additional users for our MTWO and iTWO 4.0 platforms runs very promising.
The number of users of our new cloud-based MTWO and iTWO 4.0 platforms grew by 181.6% to 8,447 users and exceeded our expectations. Of the total users gained, 74.7% came from new customers and 25.3% from existing customers. For 2019, we plan to increase the total number of users from 3,000 in 2018 to 30,000 in 2019, to reach 100,000 in 2020, as already announced. The users will be acquired partly through new customer acquisition and partly through the migration of 500,000 existing users from other software applications within our Group.
In 2019, we adjusted and simplified our segment reporting to reflect our business development. In future, we will present the two reporting segments iMTWO and xYTWO. Further information can be found in the "Business development" section of the Quarterly Statement.
CONSOLIDATED FIGURES – OVERVIEW
EUR million unless otherwise indicated
∆ in %
as % of revenue
EBITDA adjusted for IFRS 16
as % of revenue
as % of revenue
Expenses from purchase price allocations (PPA amortisation)
Cash flow from operating activities
Average number of employees
* Cash and cash equivalents, time deposits and available-for-sale securities. Previous year as of 31 December 2018
** Previous year as of 31 December 2018
The complete Quarterly Statement (January - March 2019) is available for download on the RIB Group website under investor relations.
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 brining 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 1,200 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.