Stuttgart, Germany, 29 March 2019. RIB Software SE, the world’s leading provider of iTWO 4.0 Cloud Enterprise Platform Technology, today announces its financial figures for the 2018 financial year.
-The re-platforming race of the software stack towards a true Cloud is on-
High revenue growth in fiscal year 2018
Group revenues increased by 26.4% to EUR 136.9 million in fiscal year 2018 (previous year: EUR 108.3 million), with organic growth of 14.4% to EUR 123.9 million. In the past fiscal year, annual recurring revenues (SaaS/Cloud and Maintenance) rose by 21.4% to EUR 57.4 million (previous year: EUR 47.3 million). Consulting revenues grew by 65.3% to EUR 32.9 million (previous year: EUR 19.9 million). Software license revenues rose from EUR 33.6 million to EUR 37.2 million (+10.7%). In total, revenues in the Software Licenses, SaaS/Cloud and Maintenance areas increased by 16.8% to EUR 94.6 million (previous year: EUR 81.0 million).
In our high-margin reporting segment iTWO, revenues rose significantly by 20.5% to EUR 121.5 million (previous year: EUR 100.8 million), with organic growth of 13.5% to EUR 114.4 million.
Strong margins despite extensive investments
In parallel to the investment phase of iTWO 5D Desktop to the iTWO 4.0 cloud platform technology and without a Phase III agreement, the RIB Group was able to achieve an operating EBITDA margin of 28.3% (adjusted for currency effects and one-off/special effects) in fiscal year 2018. The Group’s software-related gross margin remained at a very high level of 64.1%.
The year 2018 was characterized above all by high investments in personnel, new technologies such as AI, Cloud and Mobility as well as future-oriented initiatives with top players such as Microsoft. In 2019, RIB will focus on increasing the iTWO and MTWO user base from 3,000 to 30,000.
Dividend payment for the 2018 financial year
The Administrative Board of RIB Software SE will propose to the Annual General Meeting that a dividend of EUR 0.18 will be paid to the shareholders for the past fiscal year (previous year: EUR 0.18).
Guidance for 2019
Assuming stable conditions in the market, the RIB Group plans to generate revenues of between EUR 180 million and EUR 200 million and an operating EBITDA of between EUR 36 million and EUR 46 million in the financial year 2019. The Guidance (EBITDA) already includes start-up costs of EUR 5 million for the development of new business areas.
CONSOLIDATED FIGURES – OVERVIEW
* EBITDA and EBT adjusted by: Currency effects (2018: +0.3; 2017: -0.1) and one-off / special effects (2018: -1.2; 2017: +0.5).
** Operating EBITDA additionally adjusted for income in 2018 from the reversal of deferred revenue from software delivery to YTWO (+2.0) and income from software delivery to YTWO in 2017 (+7.8).
*** Adjusted for the companies xTWO GmbH (E-commerce) and RIB U.S. Cost Incorporated (professional services).
**** Cash and cash equivalents, time deposits and available-for-sale securities.
The complete Annual Report 2018 is available for download on the RIB Group website under Investor Relations.
RIB Software SE is an innovator in construction business. The company creates, develops and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide. Its flagship product iTWO 4.0 is the world’s first 5D BIM enterprise cloud solution for construction companies, industrial companies, developers and project owners, etc. 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.