RIB Software SE (RIB) announces its preliminary results for the financial year 2020
- Revenue increases by 21.1% to EUR 259.8 million
- EBITDA (FX adjusted) increases by 46.5% to EUR 71.5 million
- Target of 100,000 MTWO & iTWO 4.0 users exceeded by 75% at 174,546
Stuttgart, Germany, 11 February 2021. RIB Software SE, the world's leading provider of iTWO 5D BIM Big Data technology for the construction industry, today announced its preliminary figures for the 2020 financial year, continuing its sustained growth course despite difficult market conditions as a result of the global COVID-19 pandemic.
In 2020, RIB achieved a revenue of EUR 259.8 million, +21.1% compared to the previous year. Annual Recurring Revenue ("ARR") increased by 30.2% from EUR 112.6 million to EUR 146.6 million and License revenue ("NRR") by 14.3% from EUR 45.4 million to EUR 51.9 million. EBITDA amounted to EUR 70.9 million, +40.7% compared to the previous year. The EBITDA margin increased to 27.3% (previous year: 23.5%). EBITDA adjusted for FX effects grew by 46.5% from EUR 48.8 million to EUR 71.5 million.
In the iMTWO segment, the successful development continued. Subscription revenues increased by 40.5% to EUR 87.7 million and support revenues by 16.8% to EUR 53.6 million. License revenues grew by 14.3% to EUR 51.9 million and service revenues by 18.4% to EUR 56.1 million. Segment EBITDA was 36.4% higher than the previous year at EUR 70.5 million. The segment EBITDA margin was 27.7%. The number of users on our cloud based MTWO / iTWO 4.0 platform increased to 174,546 in 2020, exceeding our target of 100,000 users by 75%.
To force the digital transformation in the AEC industry and the further expansion of the MTWO platform worldwide, the RIB Group and the Swiss SoftwareONE Holding AG signed a strategic partnership agreement in November 2020. With the partnership, which will be operationally implemented from the beginning of 2021, the RIB Group and SoftwareONE want to jointly drive technological innovation for the architecture, engineering and construction (AEC) industries globally.
With over EUR 350 million, the RIB Group has sufficient investment funds to finance its further global expansion.
RIB Software SE will publish the final figures for the 2020 financial year and the guidance for the 2021 financial year on Wednesday, 31 March 2021.
About the 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.