STUTTGART, GERMANY, 31 March 2015. RIB Software AG (ISIN DE000A0Z2XN6), today published its financial figures for the financial year 2014 and the outlook for 2015.
New Technology – New Thinking – New Working Method
RIB is able to look back on another very successful financial year, once again. With the iTWO 5D platform, RIB has established a new technology and paved the way for a new way of thinking, moreover, with the 5D LAB it has created a new working method. In the meanwhile, for all those involved in a project, the iTWO 5D technology as well as “running together“ in a 5D Lab has become highly respected “best practice“ for building construction. With iTWO PCI, RIB, together with Munich Re, has created a new insurance concept, based on iTWO 5D technology, which could revolutionise building, as it enables almost risk-free investments to be made in construction projects worldwide for the first time.
Through new technologies, new ways of thinking and new methods of working, RIB is making an active contribution to modernising the traditional building industry. In the age of Industry 4.0, RIB’s iTWO 5D solution currently represents by far the most developed end-to-end software generation for virtual planning and building.
Due to an extremely successful 4th quarter, the RIB Group (ISIN 000A0Z2XN6) was able to increase net sales by 22.8% to € 70.0 million (previous year: € 57.0 million).
Recurring sales reach 44.4% of the total revenue
Maintenance revenues increased to € 21.7 million compared with € 19.1 million (+ 13.6%). Cloud revenues increased by 40.3% to € 9.4 million (previous year: € 6.7 million). This increase is largely due to the inclusion of Byggeweb in the consolidated financial statements for the first time, but at the same time highlights the growing demand for cloud-based solutions. Maintenance revenues increased by 13.6% to € 21.7 million (previous year: € 19.1 million). Recurring maintenance and cloud sales accounted for 44.4% of the total sales of € 70.0 million.
Operating profit after tax increases by 60.2%
Particularly due to the strong growth of the high-margin iTWO software licences by 76.1% to € 19.2 million (previous year: € 10.9 million), the pre-tax operating profit was able to increase by 52.0% to € 19.3 million (previous year: € 12.7 million). The operating EBITDA reached € 25.7 million compared with € 18.5 million in 2013 (+38.9%). The margin increased to 36.7% (previous year: 32.5%). Due to special effects from FX (2014: € +3.7 million /2013: € -1.5 million) and from the adjustment of purchase price liabilities (2014: € +5.9 million / 2013: € +1.8 million), the EBITDA increased by 87.2% to € 35.2 million (previous year: € 18.8 million). The operating profit after tax grew by 60.2% to € 14.1 million (previous year: € 8.8 million). The profit after tax incl. special effects increased by 128.6% to € 20.8 million (previous year: € 9.1 million).
RIB network continues to grow
In 2014, the RIB company network continued to grow, too. With the acquisition of the Danish company BYGGEWEB A/S, based in Copenhagen, a leading online platform for facility management was integrated into the RIB Group. Furthermore, 75% of the shares in an e-commerce platform provider were also acquired. From 2015, the platform will be marketed under the brand name xTWO and will be gradually expanded into a comprehensive e-commerce platform for all types of construction products. Together with both of these new group companies, the RIB Group now has around 700 employees in more than 30 locations worldwide.
First iTWO PCI (Project Cost Insurance) conference together with Munich Re
The first iTWO PCI conference in Munich, which was held jointly with Munich Re on 26 March 2015 at the Munich Re premises in Munich, was met with very strong interest with more than 40 participants and generated initial movement towards pilot projects.
Continued growth forecast
The Executive Board and the Supervisory Board will propose a dividend of € 0.16 to the annual general meeting of RIB for voting. RIB AG anticipates continued growth for 2015. The “large deals” with iTWO 5D are expected to increase by 80% to 25 contracts, whereby 2 Phase III contracts with a licence value of € 5 million each are planned. In light of this increase in Phase II/III contracts, we predict total sales of between € 85 million and € 95 million, as well as an EBITDA of between € 29 million and € 36 million.
 adjusted by currency effects (2014: € +3.7 million; 2013: € -1.5 million) and special effects (2014: €+5.9 million; 2013: € +1.8 million)
The complete 2014 annual report 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.