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    RIB   DE000A0Z2XN6

RIB SOFTWARE SE

(RIB)
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PRESS RELEASE : RIB Software SE: The RIB Group announces its figures for the first half of 2021: Stable revenue growth (+8.6%) with strong operating margin (29.5%)

07/30/2021 | 02:01am EDT
DGAP-News: RIB Software SE / Key word(s): Half Year Report 
RIB Software SE: The RIB Group announces its figures for the first half of 2021: Stable revenue growth (+8.6%) with 
strong operating margin (29.5%) 
2021-07-30 / 08:00 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
July 30, 2021 
The RIB Group announces its figures for the first half of 2021: Stable revenue growth (+8.6%) with strong operating 
margin (29.5%) 
 
- Group revenue grows by 8.6% to EUR138.7 million in the first half despite the global impact of Covid-19 (previous year 
adjusted for e-commerce: EUR 127.7 million) 
- Adjusted for the Phase III deal included in the previous year (EUR 7.9 million), consolidated revenues increase by 
15.8% 
- Recurring revenues (ARR) grow by 9.2% to EUR 37.9 million in Q2 (previous year: EUR 34.7 million) 
- International sales increase by 15.5% to EUR 91.6 million (previous year: EUR 79.3 million) 
- International share of revenue rises to 66.1% (previous year: 62.1%) 
- Operating EBITDA margin remains high at 29.5% 
Stuttgart, Germany, July 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 half of 2021. 
Group shows solid revenue development in first half of 2021 
Despite the global economic impact of the Covid-19 pandemic, we can look back on a successful first half of the year. 
Group revenues, adjusted for the e-commerce revenues still included in the previous year, increased by 8.6% to EUR 138.7 
million (previous year: EUR 127.7 million). Organic revenue growth, adjusted for the Phase III deal included in the 
previous year, was around 7.0%. Software revenues grew by 0.8% to EUR 102.8 million (previous year: EUR 102.0 million). 
Adjusted for the Phase III deal included in the prior-year period, software revenues grew by 9.2%. As in the first 
quarter of 2021, service revenues developed very positively due to the high number of projects and increased by 39.1% 
to EUR 35.9 million (previous year: EUR 25.8 million). 
EBITDA fell by 16.7% year-on-year to EUR 38.9 million (previous year: EUR 46.7 million), resulting in an EBITDA margin of 
28.0% (previous year: 36.6%). At EUR 40.9 million, operating EBITDA remained at the previous year's level (previous year: 
EUR 41.2 million). Adjusted for the Phase III deal in the previous year, operating EBITDA increased by 22.8%. At EUR 10.6 
million, depreciation and amortization from purchase price allocation (PPA-amortization) was higher than in the 
previous year (EUR 7.9 million). Adjusted operating EBITA increased by 3.8% to EUR 30.3 million (previous year: EUR 29.2 
million). At 21.8%, adjusted operating EBITA margin remained essentially at the level of the previous year (previous 
year: 22.9%). 
The average number of employees changed by 41.6% to 2,541 (previous year: 1,794 employees). 
Cash flow from operating activities amounts to EUR 34.8 million 
The net cash flow from operating activities amounts to EUR 34.8 million (previous year: EUR 38.8 million). The main reason 
for the decline is the increase in income taxes paid to EUR 7.0 million (previous year: EUR 3.7 million), which includes 
back payments from the previous year and enhanced advance payments. The net cash flow from investing activities was EUR 
-7.9 million lower than in the previous year (EUR -19.2 million). This is essentially due to the higher payments for the 
acquisition of consolidated companies in the same period of the previous year. The net cash flow from financing 
activities of EUR -56.7 million was significantly below the previous year (EUR -2.4 million) due to the dividend of EUR -51.0 
million distributed in the reporting period. In the previous year, the dividend payment was not made until the second 
half of 2020 due to the postponement of the Annual General Meeting as a result of the Covid-19 pandemic. 
As of June 30, 2021 the Group had cash and cash equivalents, including available-for-sale securities and time deposits, 
of EUR 196.3 million (December 31, 2020: EUR 224.0 million). Equity amounted to EUR 472.0 million (December 31, 2020: EUR 506.5 
million). The equity ratio thus decreased slightly to 69.2% (December 31, 2020: 71.7%). 
Growth course in the iMTWO segment continued (8.6%) 
Total revenue in the iMTWO segment rose by 8.6% to EUR 138.4 million (previous year: EUR 127.4 million). Organic revenue 
growth adjusted for the Phase III deal of the previous year amounts to 6.9%. Software revenues grew by 0.8% to EUR 102.5 
million (previous year: EUR101.7 million). Adjusted for the Phase III deal included in the previous year's period, 
software revenues increased by 9.3%. The segment EBITDA fell by 16.7% to EUR 38.8 million (previous year: EUR 46.6 
million), reducing the EBITDA margin to 28.0% (previous year: 36.6%). The operating EBITDA in the segment remained 
slightly below the previous year's level at EUR 40.7 million (previous year: EUR 41.1 million), which corresponds to an 
operating EBITDA margin of 29.4% (previous year: 32.3%). 
Revenue development in the regions 
Internationally, revenues grew by 15.5% to EUR 91.6 million (previous year: EUR 79.3 million). In contrast, domestic 
revenues fell by 2.7% to EUR 47.1 million (previous year: EUR 48.4 million) due to the Phase III deal included in the 
previous year. Adjusted for this, domestic revenues rose by 16.3%. The international share of total revenues thus 
amounted to 66.1% (previous year: 62.1%). 
In the EMEA region (Europe, Middle East and Africa, excl. Germany), revenues increased by 29.5% to EUR 34.0 million 
(previous year: EUR 26.2 million), in North America by 5.9% to EUR 35.7 million (previous year: EUR 33.7 million) and in the 
APAC region (Asia Pacific) by 13.4% to EUR 21.9 million (previous year: EUR 19.3 million). 
Schneider Electric plans squeeze-out under stock corporation law 
On July 5, 2021, Schneider Electric Investment AG, Düsseldorf, submitted to RIB Software SE the formal request pursuant 
to Section 327a (1) sentence 1 AktG that the General Meeting of RIB Software SE should resolve to transfer the shares 
of the remaining shareholders (minority shareholders) to Schneider Electric Investment AG in return for an appropriate 
cash compensation (so-called squeeze-out under stock corporation law). 
Schneider Electric Investment AG holds approximately 96.41% of the registered share capital of RIB Software SE and is 
therefore its main shareholder within the meaning of section 327a para. 1 sentence 1 AktG. The resolution on the 
transfer shall be passed at an extraordinary General Meeting of RIB Software SE which is supposed to take place in the 
fourth quarter of 2021. The amount of the appropriate cash compensation that Schneider Electric Investment AG, as the 
main shareholder, will pay to the minority shareholders of RIB Software SE for the transfer of the shares has not yet 
been determined. 
Further business development 
Due to the uncertainties caused by Covid-19 and in the context of further cost reductions and preservation of 
liquidity, we have continued to strongly reduce investments in new business areas, such as YTWO, and are focusing on 
the successful expansion of the iMTWO segment. 
On this basis and considering the further likely impact of the Covid-19 pandemic, provided it does not intensify during 
the year, we maintain the RIB Group's guidance for the 2021 financial year, according to which the company plans to 
generate revenue of between EUR 280 million and EUR 310 million and operating EBITDA of between EUR 65 million and EUR 75 
million. 
CONSOLIDATED FIGURES OVERVIEW 
                      EUR million unless otherwise indicated YTD 6/2021 YTD 6/2020*  Change 
Revenue                                                         138.7       127.7   8.6 % 
ARR                                                              77.8        75.1   3.6 % 
NRR                                                              25.0        26.9  -7.1 % 
Services                                                         35.9        25.8  39.1 % 
EBITDA                                                           38.9        46.7 -16.7 % 
as % of revenue                                                 28.0%       36.6% 
Operating EBITDA**                                               40.9        41.2  -0.7 % 
as % of revenue                                                29.5 %      32.3 % 
Adjusted operating EBITA                                         30.3        29.2   3.8 % 
as % of revenue                                                21.8 %      22.9 % 
Equity ratio***                                                69.2 %      71.7 % 
Cash flow from operating activities                              34.8        38.8 -10.3 % 
Expenses from purchase price allocation (PPA amortization)       10.6         7.9  34.2 % 
Average number of employees                                     2.541       1.794  41.6 % 
Group liquidity****                                             196.3       224.0 -12.4 % 

* The figures for 2020 only include amounts from continuing operations.

** 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

(MORE TO FOLLOW) Dow Jones Newswires

July 30, 2021 02:00 ET (06:00 GMT)

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Financials
Sales 2021 295 M 346 M 346 M
Net income 2021 - - -
Net cash 2021 145 M 170 M 170 M
P/E ratio 2021 126x
Yield 2021 0,56%
Capitalization 2 049 M 2 405 M 2 403 M
EV / Sales 2021 6,45x
EV / Sales 2022 5,44x
Nbr of Employees 2 541
Free-Float 3,81%
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RIB Software SE Technical Analysis Chart | RIB | DE000A0Z2XN6 | MarketScreener
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 39,20 €
Average target price 27,30 €
Spread / Average Target -30,4%
EPS Revisions
Managers and Directors
Thomas Wolf Chairman, Chief Executive Officer & MD
Michael Sauer COO, Co-Chief Financial Officer, Director & MD
Tobias Hamacher Co-Chief Financial Officer & Managing Director
Michael Woitag Chief Technology Officer
Matthias Rumpelhardt Independent Director
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