RIB announces its figures for the first nine months of 2020

Updated: Nov 19

Stuttgart, Germany, October 30, 2020. RIB Software SE, the world's leading provider of iTWO 4.0 cloud enterprise platform technology, today announced its key financial figures for the first nine months of 2020.

  • Group revenues (9 months) increase by 25.6% to € 190.4 million (previous year: € 151.6 million)

  • Recurring revenues (9 months) continue to increase significantly by 40.6% to € 109.1 million (previous year: € 77.6 million)

  • International revenues (9 months) increase by 31.2% to € 121.5 million (previous year: € 92.6 million)

  • EBITDA (9 months) increases by 68.8% to € 60.6 million (previous year: € 35.9 million)

  • The number of iTWO 4.0/MTWO users grows by 41.0% to 97,774 users (December 31, 2019: 69,337)

  • Operating cash flow increases by 144.7% to € 62.4 million (previous year: € 25.5 million)

  • Outlook for 2020 confirmed


Group shows solid growth in the first nine months of 2020

Total revenues increased by 25.6% to € 190.4 million (previous year: € 151.6 million). Recurring revenues (ARR) grew by 40.6% to € 109.1 million (previous year: € 77.6 million). NRR revenues increased by 13.0% to € 38.3 million (previous year: € 33.9 million). Service revenues were up 13.5% to € 37.8 million (previous year: € 33.3 million). The organic growth ARR amounts to 5.7%. EBITDA increased by 68.8% to € 60.6 million (previous year: € 35.9 million). At 31.8%, the EBITDA margin exceeded the expected range of 20-30% during the investment phase impacted by Covid-19. Operating EBITDA increased by 57.8% to € 54.9 million (previous year: € 34.8 million). The operating cash flow increases by 144.7% to € 62.4 million (previous year: € 25.5 million).

At the end of the third quarter, group liquidity amounted to € 227.9 million (December 31, 2019: € 125.8 million). The average number of employees changed by 23.8% to 1,886 (previous year: 1,524).


iTWO 4.0/MTWO user grows to 97,774 (user target for 2020 already at 97.8%)

Total revenues in the iMTWO segment increased by 28.0% to € 184.9 million (previous year: € 144.4 million). Recurring revenues (ARR) increased by 40.8% to € 108.8 million (previous year: € 77.3 million). Non-recurring revenues (NRR) grew by 13.0% to € 38.3 million (previous year: € 33.9 million). The EBITDA margin reached 32.6%.


The number of users of our cloud based MTWO / iTWO 4.0 platform grew by 41.0% from 69,337 to 97,774 users compared to year-end, thus already reaching 97.8% of our target of 100,000 users in 2020. Users are gained partly through new customer acquisition and partly through the migration of existing users from other software applications within our Group.


In the xYTWO segment, total revenues decreased by 22.5% to € 5.5 million (previous year: € 7.1 million) as planned due to the sale of the e-commerce business, as already announced. The segment EBITDA amounted to € 0.4 million.


Group outlook for the fiscal year 2020

Due to the uncertainties caused by Covid-19, we have currently severely limited our M&A activities, which will have an impact on the planned revenue and EBITDA contribution from these deals. In the context of further cost reductions and preservation of liquidity, we have strongly reduced investments in new business areas such as xYTWO and are focusing on the further successful global expansion of the iMTWO segment.


Provided that the economic situation in our industry does not deteriorate due to the uncertainties of Covid-19, we confirm the outlook for 2020.



* EBITDA adjusted by currency effects and one-off / special effects.

** Cash and cash equivalents, time deposits and available-for-sale securities. Previous year as of December 31, 2019.

*** Previous year as of December 31, 2019.


About RIB Group


RIB Software SE is an innovator in the building and construction industry. The company 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 the construction industry, RIB Software SE focuses on IT and engineering and becomes the pioneer in construction innovation, exploring and bringing 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 2,700 talents in more than 25 countries worldwide, RIB is targeting to transform the construction industry into the most advanced and digitalized industry in the 21st century.

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