DGAP-News: RIB Group announces its figures for the first quarter 2021

April 30, 2021

RIB Group announces its figures for the first quarter 2021:
Strong increase in software license revenues by 23.0% to € 10.7 million // EBITDA grows by 46.8% to € 22.6 million

- Software license revenues increase by 23.0% to € 10.7 million (previous year: € 8.7 million)

- EBITDA grows by 46.8% to € 22.6 million (previous year: € 15.4 million)

- Cash flow from operating activities increases by 30.6% to € 32.0 million (previous year: € 24.5 million)

- Domestic revenues grow by 24.1% to € 24.7 million (previous year: € 19.9 million)

- Group revenue increases by 9.4% to € 68.8 million (previous year: € 62.9 million)

- Recurring support revenues grow by 11.9% to € 15.1 million (previous year: € 13.5 million)

Stuttgart, Germany, April 30, 2021. RIB Software SE, the world's leading provider of iTWO 4.0 cloud enterprise platform technology, today announces its key financial figures for the first quarter 2021.

RIB Group shows solid growth in the first quarter 2021

Total revenues increased by 9.4% to € 68.8 million (previous year: € 62.9 million). Software revenues (ARR + NRR) increased by 3.1% to € 50.6 million (previous year: € 49.1 million). Service revenues grew by 32.8% to € 18.2 million (previous year: € 13.7 million). Organic revenue growth in the Group was 2.3%. EBITDA increased by 46.8% year-on-year to € 22.6 million (previous year: € 15.4 million). At 32.8%, the EBITDA margin was with 8.3 percentage points significantly above the previous year. Earnings after taxes rose substantially by 112.1% to € 7.0 million (previous year: € 3.3 million).

Net cash flow from operating activities increased by 30.6% to € 32.0 million (previous year: € 24.5 million)

At the end of the first quarter, group liquidity amounted to € 253.2 million (December 31, 2020: € 224.0 million). The average number of employees changed by 35.0% to 2,467 (previous year: 1,827).

Development of the segments


Total revenues in the iMTWO segment increased by 9.2% to € 68.7 million (previous year: € 62.9 million). Software revenues (ARR + NRR) increased by 2.9% to € 50.5 million (previous year: € 49.1 million). The EBITDA margin improved strongly and reached 33.0% (previous year: 24.6%).

In the YTWO segment, total revenue was € 0.0 million (previous year: € 0.0 million). The segment EBITDA amounted to € -0.1 million and continues to be strongly characterised by start-up costs in the YTWO segment. In previous years, we divided the reporting segment xYTWO into the two business segments YTWO (SCM) and xTWO (E-Commerce). Since the xTWO business segment is not part of our core business, we separated from this area in August 2020 and sold the business segment as a whole. Thus, there will be no further subdivision of the YTWO reporting segment into business segments in the future.

Further business development

Due to the uncertainties caused by Covid-19, we have currently strongly reduced our M&A activities, which in turn 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 YTWO, and are focusing on the successful expansion of the iMTWO segment.

After the first quarter of 2021, we are sticking to our guidance and forecast a revenue in the range of € 280 million to € 310 million and an operating EBITDA of between € 65 million and € 75 million for the 2021 financial year.

CONSOLIDATED FIGURES - OVERVIEW

* The previous year's figures were adjusted for the amounts of the discontinued business unit xTWO (E-Commerce).

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

*** Previous year as of December 31, 2020.

**** Cash and cash equivalents, time deposits and available-for-sale securities. Previous year as of December 31, 2020.

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 21^st century.