RIB Software SE with successful development in the first half of 2018: Adjusted for currency effects, Group revenues increase by 21.3% to € 64.7 million // Initial Meetings with 150 Managed Service Provider companies from 46 countries successfully execut

31.07.2018

  • Software licence revenues in the first half-year 2018 up 17.7% (currency-adjusted: 20.2%) to € 18.6 million
  • Operating EBITDA* and adjusted for YTWO grows by 10.5% to € 18.9 million in the first half-year 2018
  • Maintenance revenues grow by 20.6% (currency-adjusted: 25.3%) to € 19.3 million

Stuttgart, Germany, 31 July 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 half of 2018.

Consolidated figures for the first half of 2018 at a glance
For the RIB Group, 2018 will be the first year of transformation from iTWO 5D technology to cloud-based technology iTWO 4.0. Nevertheless, the RIB Group made a successful start to the first half of 2018. Software licence revenues grew by 17.7% (currency-adjusted: 20.2%) to € 18.6 million (previous year: € 15.8 million). Group revenues rose by 17.1% to € 62.4 million (previous year: € 53.3 million). Adjusted for currency effects, Group revenues increased by 21.3% to € 64.7 million (previous year: € 53.3 million). Sales in Germany grew by 24.4% to € 31.1 million (previous year: € 25.0 million). International sales increased by 10.6% (currency-adjusted: 18.7%) to € 31.3 million (previous year: € 28.3 million). Adjusted for the Key Account sales with a major British customer of € 2.3 million included in Q2 2017, most of which was written off in Q4 2017, international sales increased by 20.4%. In the iTWO segment, revenues rose by 16.3% (currency-adjusted: 20.7%) to € 57.9 million (previous year: € 49.8 million) with an EBITDA margin of 34.1%.

Deferred maintenance revenues increased by 20.6% (currency-adjusted: 25.3%) to € 19.3 million (previous year: € 16.0 million) and continue to make up a large share of recurring revenues. In total, recurring revenues (maintenance and SaaS) rose by 13.7% (currency-adjusted: 17.3%) to € 26.6 million (previous year: € 23.4 million). Consulting revenues increased by 18.7% (currency-adjusted: 28.7%) to € 12.7 million (previous year: € 10.7 million).

The previous year's operating EBITDA of € 24.7 million included other operating income of € 7.6 million from the software delivery to the joint venture YTWO. Adjusted for this effect in the previous year, operating EBITDA rose by 10.5% to € 18.9 million (previous year: € 17.1 million), despite start-up costs for the MTWO segment of € 1 million. The adjusted operating EBITDA margin was with 30.3% still on a high level. The adjusted operating EBT* rose by 7.8% to € 11.0 million in the reporting period (previous year: € 10.2 million), despite high start-up investments totaling € 3 million in the YTWO and MTWO segments

R&D expenses rose to € 7.7 million in the first half of 2018 (previous year: € 6.7 million). The increase was mainly due to the strengthening of our development teams in iTWO 4.0 and in the MTWO segment.

MTWO – 150 initial meetings with Managed Service Provider
At the AGM 2018 we have announced to develop 20 operating direct and indirect (partner) global sales and service units with the target to win (AGM Milestone) 123,000 iTWO USER. We could already execute an important step to reach this target. Because of the great attractiveness of MTWO, our leader team could execute a total of 150 meetings on C-level with target partner companies (MSP) out of 46 countries until now.

Based on the initial dates, we expect that the 3-5 partner investments targeted at this year's Annual General Meeting for 2018 can be achieved and that the establishment of the worldwide RIB Partner Network will be successfully initiated in 2018.

For the MTWO segment, we continue to expect additional start-up costs of up to € 3 million for the 2018 financial year.

Confirmation of the guidance for the financial year 2018
Based on the positive development in the first half of 2018 and assuming otherwise stable market conditions, the RIB Group confirms its guidance for 2018 with sales between € 117 million and € 127 million and an EBITDA between € 33 million and € 43 million. 

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

 


The RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops, and offers iTWO³ – new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world’s first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. 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 more than 900 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.  



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