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RIB announces its figures for the first quarter of 2019

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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.

·       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

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

* 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 MTWO

MTWO is the world’s No. 1 vertical cloud specifically tailored to the construction & real estate industries. MTWO is developed by RIB, world’s leading provider of 5D BIM Enterprise technology, and Microsoft Corporation, world’s leading platform and productivity company for the mobile-first, cloud-first world. The goal of MTWO is to accelerate the digital transformation of enterprises in the construction & real estate industries, by dramatically increasing productivity and reduce cost through RIB iTWO 4.0, YTWO, Microsoft Office 365 and others, run on the world-class Microsoft Azure cloud platform.

About RIB

Headquartered in Stuttgart, Germany, RIB Software SE is the global leader of digital transformation for building and construction industries, providing the most cutting edge software technologies and innovative working methods to increase industry productivity. RIB is serving 100,000 users worldwide 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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