Q3 RIB SOFTWARE SE - Quarterly Statement | January - September 2021

2021

RIB Group with strong revenue growth in first nine months of 2021

Group revenues grow by 10.2% to € 204.1 million

  • Group revenue grows by 10.2% to € 204.1 million (previous year: € 185.2 million, adjusted for discontinued e-commerce operations)
  • Recurring revenue (ARR) grows by 7.3% to € 117.1 million (previous year: € 109.1 million)
  • License revenue (NRR), adjusted for the Phase III deal included in the previous year (€ 7.9 million), increases by 13.8%
  • International revenue rises by 15.7% to € 135.8 million (previous year: € 117.4 million)
  • International share of revenue increases further to 66.5% (previous year: 63.4%)

CONSOLIDATED FIGURES - OVERVIEW

3rd quarter

3rd quarter

9 months

9 months

€ million unless otherwise indicated

2021

2020*

Change

2021

2020*

Change

Revenue

65.4

57.5

13.7%

204.1

185.2

10.2 %

ARR

39.4

34.0

15.9%

117.1

109.1

7.3 %

NRR

9.5

11.5

-17.4%

34.6

38.3

-9.7 %

Services

16.5

12.0

37.5%

52.4

37.8

38.6 %

EBITDA

11.2

14.0

-20.0%

50.1

60.5

-17.2 %

as % of revenue

17.1%

24.3%

-

24.5%

32.7%

-

Operating EBITDA**

11.7

13.7

-14.6%

52.7

54.8

-3.8 %

as % of revenue

17.9%

23.8%

-

25.8 %

29.6 %

-

Expenses from purchase price allocations (PPA amortisation)

5.3

4.6

15.2%

15.8

12.5

26.4 %

Cash flows from operating activities

-

-

-

46.7

62.4

-25.2%

Group liquidity***

-

-

-

202.9

224.0

-9.4%

Equity ratio****

-

-

-

69.3%

71.7%

-

Average number of employees

-

-

-

2,610

1,886

38.4%

  • The previous year's figures have been adjusted for the xTWO/e-commerce operation disconinued in the previous year.
  • EBITDA adjusted by currency effects and one-off / special effects.
  • Cash and cash equivalents, time deposits and available-for-sale securities. Previous year as of December 31, 2020.
  • Previous year as of December 31, 2020.

RIB Software SE

Vaihinger Straße 151

70567 Stuttgart

business development | The results in detail - nine months 2021

BUSINESS DEVELOPMENT

THE RESULTS IN DETAIL - NINE MONTHS 2021

Total revenue increased by 10.2% to € 204.1 million (previous year*: € 185.2 million). Recurring revenue (ARR) in-

creased by 7.3% to € 117.1 million (previous year: € 109.1 million). License revenue (NRR) decreased by 9.7% to

  • 34.6 million (previous year: € 38.3 million). Adjusted for the Phase III deal included in the previous year's period (€ 7.9 million), NRR revenue increased by 13.8%. Service revenue continued to develop very positively due to the high number of projects and increased by 38.6% to € 52.4 million (previous year: € 37.8 million). Organic revenue growth in the Group amounted to 3.2%.

EBITDA fell by 17.2% year-on-year to € 50.1 million (previous year: € 60.5 million). At € 52.7 million, operating EBITDA was down slightly by 3.8% on the previous year (€ 54.8 million); adjusted for the Phase III deal in the previous year, operating EBITDA increased by 12.4%.

Net cash flow from operating activities sank by 25.2% to € 46.7 million (previous year: € 62.4 million).

At the end of the third quarter, group liquidity amounted to € 202.9 million (December 31, 2020: € 224.0 million).

The average number of employees changed by 38.4% to 2,610 (previous year: 1,886).

DEVELOPMENT OF THE SEGMENTS

iMTWO

Total revenue in the iMTWO segment increased by 10.3% to € 203.9 million (previous year: € 184.9 million). Adjusted for the Phase III deal included in the prior-year period, revenue in the iMTWO segment grew by 15.2%. Recurring revenue (ARR) increased by 7.4% to € 116.9 million (previous year: € 108.8 million). EBITDA decreased by 16.9% to € 50.0 million (previous year: € 60.2 million). Operating EBITDA in the segment reached € 52.5 million and was slightly below the previous year's level at -3.8% (previous year: € 54.6 million).

YTWO

In the YTWO segment, total revenue of € 0.3 million were at a very low level, as in the previous year (previous year:

  • 0.3 million, the previous year's figures were adjusted for the amounts of the discontinued xTWO/E-Commerce operation). The segment EBITDA amounted to € 0.1 million (previous year: € 0.3 million).

REVENUE DEVELOPMENT IN THE REGIONS

International revenue grew by 15.7% to € 135.8 million (previous year: € 117.4 million). Domestic revenue increa-

sed by 0.7% to € 68.3 million (previous year: € 67.8 million). The international share of total revenue thus amounts

to 66.5% (previous year: 63.4%).

In the EMEA region (Europe, Middle East and Africa), revenue grew by 13.9% to € 48.3 million (previous year: € 42.4 million), in North America by 6.4% and in the APAC region (Asia Pacific) by 37.1%.

REPORT ON OPPORTUNITIES AND RISKS

Regarding to the material opportunities and risks of the expected development of the RIB Group, we refer to the opportunities and risks described in the Group Management Report as of 31 December 2020 and at the Annual General Meeting and published on the RIB website.

*The previous year's figures stated below have been adjusted for the xTWO/e-commerce operation disconinued in the previous year.

2 RIB SOFTWARE SE | QUARTERLY STATEMENT JANUARY - SEPTEMBER 2021

The results in detail - nine months 2021 | business development

OUTLOOK - FISCAL YEAR 2021

Schneider Electric Investment AG specifies transfer request and determines cash compensation for the intended squeeze-out under stock corporation law of the minority shareholders of RIB Software SE

On September 22, 2021 the main shareholder of RIB Software SE, Schneider Electric Investment AG, Düsseldorf, has submitted to RIB Software SE the specific formal request to have the General Meeting of RIB Software SE resolve on the transfer of the shares of the remaining shareholders of RIB Software SE (minority shareholders) to Schneider Electric Investment AG in return for an appropriate cash compensation (squeeze-out under stock corporation law).

The required resolution is to be adopted at an Extraordinary General Meeting of RIB Software SE scheduled for November 3, 2021. Schneider Electric Investment AG holds shares in RIB Software SE in the amount of approximately 96.28 % of the share capital.

The amount of the cash compensation offered by Schneider Electric Investment AG to the minority shareholders of RIB Software SE for the transfer of the shares amounts to € 41.72 per registered no-par value share of RIB Software SE on the basis of a business valuation carried out.

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 € 280 million and € 310 million and operating EBITDA of between € 65 million and € 75 million.

OTHER INFORMATION

We invite our shareholders to visit our Investor Relations website, in particular to keep an eye on our presentations to investors and our updated definitions to understand our current strategy.

QUARTERLY STATEMENT JANUARY - SEPTEMBER 2021 | RIB SOFTWARE SE

3

main components of the financial statements | Consolidated income statement

MAIN COMPONENTS OF THE FINANCIAL STATEMENTS

CONSOLIDATED INCOME STATEMENT

For the period: January 1, 2021 to September 30, 2021

3rd quarter

3rd quarter

9 months

9 months

figures in € thousand, unless otherwise indicated

2021

2020

2021

2020

Revenue

65,420

58,434

204,119

190,376

Cost of sales

-31,296

-26,735

-88,826

-83,846

Gross profit

34,123

31,699

115,293

106,530

Other operating income

Sales and marketing expenses General administrative expenses Research and development expenses Other operating expenses Financial income

Finance costs

Share of earnings from investments accounted for using the equity method

Profit before tax

Income tax expenses

Consolidated net profit

2,067

2,194

7,160

10,675

-16,414

-13,547

-47,108

-39,766

-10,136

-6,299

-31,682

-21,786

-8,253

-7,272

-23,406

-18,656

-639

-2,079

-5,329

-3,513

109

232

577

560

-290

-54

-864

-825

221

-48

316

-92

788

4,827

14,958

33,128

-1,022

-2,387

-6,027

-8,996

-234

2,440

8,931

24,132

Profit attributable to non-controlling interests

-70

341

631

996

Profit attributable to owners of the parent company

-164

2,099

8,300

23,136

Earnings per share based on the profit attributable to

the shareholders of RIB Software SE:

basic

0.00 €

0.03 €

0.16 €

0.47 €

diluted

0.00 €

0.03 €

0.16 €

0.46 €

4 RIB SOFTWARE SE | QUARTERLY STATEMENT JANUARY - SEPTEMBER 2021

Consolidated statement of financial position as of September 30, 2021 and December 31, 2020 | main components of the financial statements

CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2021 AND DECEMBER 31, 2020

Figures in € thousand

September 30, 2021

December 31, 2020

Goodwill

182,133

179,034

Other intangible assets

163,758

176,473

Property, plant and equipment

16,045

16,209

Right of use

12,995

13,990

Investment property

6,823

6,544

Investments accounted for using the equity method

4,746

5,886

Other financial assets

5,253

4,725

Deferred tax assets

1,403

1,351

Total non-current assets

393,156

404,213

Inventories

2,656

2,573

Trade receivables

55,923

54,834

Income tax assets

2,002

1,738

Other financial assets

4,802

4,476

Non-current assets held for sale

2,333

2,201

Other non-financial assets

19,390

14,778

Cash and cash equivalents

201,531

221,879

Total current assets

288,637

302,479

Total assets

681,793

706,692

QUARTERLY STATEMENT JANUARY - SEPTEMBER 2021 | RIB SOFTWARE SE

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RIB Software SE published this content on 29 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2021 06:27:02 UTC.