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RIB Software FY Profit Drops; Suspends 2020 Outlook - Quick Facts

RIB Software SE (RSTAY.PK) reported that its net profit for fiscal year 2019 dropped 58.4 percent to 9.1 million euros from 21.9 million euros in the prior year.

Annual revenues increased by 56.8% to 214.6 million euros from 136.9 million euros in the prior year.

Recurring revenues sharply increased by 94.5% to 112.6 million euros from the prior year.

The company has suspended its 2020 guidance, due to current developments in connection with the coronavirus or COVID-19.

In 2020, RIB expects to have available liquid funds of more than 400 million euros as the sum of liquid assets, free cash flow and a credit line, which gives RIB an extremely solid financial position to meet future challenges.

RIB CARE aims to actively support people in need. The administrative board has approved a budget of up to 500,000 euros for this purpose. The RIB CARE team is developing an air bridge from Asia to Europe in order to provide medical staff and caregivers in senior homes with protective clothing, such as masks and protective suits.

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