RIB Software 2020 Year in Review
2020 did not start the way we anticipated, but despite this, the efforts and achievements of our teams at RIB Software surpassed even our own expectations. We are proud to look back on a very successful 2020 despite the challenges.
Thank you to all of our customers, industry partners, and investors for your continued support, and thank you to our employees for their dedication and all the hard work put in to propelling RIB to drive the digital transformation of the Architecture, Construction, and Engineering (AEC) industry!
Highlights from RIB Software 2020
‘Running Together’ through crisis and adversity
In March 2020, RIB Software rolled out its RIB Care Initiative to fight against COVID-19. The RIB Care team quickly built an air bridge and flew tens of thousands of masks, protective coveralls, ventilators, and other medical supplies from Asia to Europe to help people in need and save lives. In total, the RIB Care initiative contributed USD 390,000 during the early days of the crisis.
Strong revenue growth despite a challenging year
Over the course of the first 9 months of 2020, RIB Group achieved agile performance and strong revenue growth:
- Group revenues (9 months) increased by 25.6% to € 190.4 million
- Recurring revenues (9 months) continued to increase significantly by 40.6% to € 109.1 million
- International revenues (9 months) increased by 31.2% to € 121.5 million
- EBITDA (9 months) increased by 68.8% to € 60.6 million
- The number of iTWO 4.0/MTWO users grew by 41.0% to 97,774 users
- Operating cash flow increased by 144.7% to € 62.4 million
Achieving success, together
Throughout 2020, more forward-looking AEC companies joined the iTWO Community, among which were Autobahn GmbH des Bundes (the German Highway Authority), DB Bahnbau Gruppe GmbH, Fabcon Precast, ARGE A3 Steigerwaldautobahn GbR, STRABAG BRVZ GmbH & Co. KG, ISS Communication Services GmbH, and many more. We are proud to support all our clients with iTWO technology in their end-to-end digitalization of the planning, construction, maintenance, and operation of their building projects. Read some of our clients’ success stories here.
Extending our tech ecosystem
To further strengthen our technology and better serve our customers, we kept expanding our partnership ecosystem. Among the highlights:
Schneider Electric, leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure, and Industries, took a majority stake in RIB Software. Together, Schneider Electric and RIB Software intend to lead digital and sustainable smart building solutions.
RIB Software and SoftwareONE formed a strategic partnership to accelerate bringing to the market the world-leading MTWO Complete Construction Cloud solution for the AEC industry globally. The partnership represents a significant growth opportunity for both companies to jointly drive the digitalization of one of the world’s largest sectors.
RIB Software expanded its stake to 51% in Winjit Technologies Pvt Ltd, a leading IoT, AI, Machine Learning, Blockchain, and Fintech solutions provider headquartered in India. “I believe the future integration of IoT, AI and Blockchain technology into MTWO Cloud will put us in a unique position in the market to provide a complete and smart construction cloud solution to companies in the construction and real estate industry.” – Tom Wolf, Chairman & CEO of RIB Software.
Running Together with an extensive network of partners
- More tech integrations to further enhance MTWO
The construction industry is going to the Cloud and abandoning fragmented tools and a project-centric way of thinking. RIB works closely with an extensive system of technology partners to further enhance the MTWO platform. As an open platform, MTWO continues to integrate with more industry-leading technology applications and solutions to further support construction enterprises to build better, faster, and smarter.
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Setting up Virtual Lab to support global clients
To assist more construction companies to experience the end-to-end iTWO technology, RIB enables future-oriented firms to start their first digital transformation milestone with iTWO technology via iTWO Virtual Lab. See how:
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Award-winning software solutions
iTWO costX from RIB Software was named the Estimation and Valuation Product of the Year at the Construction Computing Awards 2020, successfully defending its title from last year. Learn more about why iTWO costX is leading the pack here.
Hosted a series of webinars to help businesses run on
To ensure that the construction business continues to run smoothly with minimum downtime, RIB hosted a series of webinars to dive into how to Stay Connected and Productive with MTWO Construction Cloud. Here’s the playback:
“Tough times will go away but tough people don’t.” Thank you for Running Together with us throughout 2020 and let’s keep on our journey of transforming the construction industry into one of the most advanced industries in the world.
Here at RIB Software, we’re driven by disruptive digital technologies, industry best-practice and trends, and have made it our purpose to propel the industry forward and make engineering and construction more efficient and sustainable. That includes supporting the development and availability of world-leading solutions that empower industry professionals to quantify, measure, report on and compare embodied carbon across the project lifecycle. And we’re not stopping there, in-progress development sees our solutions ultimately enabling better design and procurement decisions factoring in cost, time and carbon in order to mitigate and eliminate embodied carbon used across the life of a building.