Riber enters loss in first-half 2019 despite MBE system revenue more than doubling

Riber S.A. of Bezons, France – which manufactures molecular beam epitaxy (MBE) systems as well as evaporation sources and effusion cells – has confirmed revenue of €13.9m for first-half 2019, down 17% on first-half 2018’s €16.7m.

Evaporators revenue has fallen by 90% from €10.4m to €1m, but this is deemed to be temporary following the major investments made in previous years.

Systems revenue has more than doubled, rising by 132% from €3.7m to €8.6m, reflecting the strengthening of Riber’s commercial positions in the industrial sector, with four production systems delivered, compared with just one production system and three research systems in first-half 2018.

Services & Accessories revenue grew by 65% from €2.6m to €4.3m, in line with the strategy to develop this activity.

Gross margin has fallen from 48.8% to 29.5% due to the contraction in revenue as well as a product mix that is currently less favorable. Net loss was €0.4m, compared with income of €2.4m in first-half 2018.

Net cash at end-June 2019 was €2.5m, level with with end-December 2018, while shareholders’ equity has fallen from €19.2m to €17.6m due mainly to the first-half loss and recognition of the distribution of amounts drawn against the issue premium to shareholders for 2018, paid out in July and September 2019.

The order book at end-June has fallen year-on-year by 17% from €34.3m to €28.4m, but this is still high, confirming the positive market environment for the production MBE business. Systems orders were down by just 3% from €22.2m to €21.5m (comprising 13 systems, including six production units). Services & Accessories orders fell by 17% from €8.3m to a still “satisfactory” €6.9m. These order book figures do not include the order received in September from Asia for an MBE 6000 production system.

Riber says that, on the basis of the first-half 2019 results, it can hence confirm its full-year forecast for revenue growth and improved operational profitability compared with 2018. The firm adds that, in a buoyant environment driven by information technology innovations over the coming years, it is moving forward with its development, consolidating its market shares, expanding its portfolio of technologies and clients, and supporting the development of its service activities.

See related items:

Riber’s Q1 revenue falls 10% year-on-year as weak evaporator sales outweigh MBE system sales growth

Riber grows annual revenue by 2.3% to another record of €31.3m

Riber grows revenue 42% year-on-year for the first nine months of 2018, driven by MBE systems sales almost tripling

Riber’s first-half revenue grows 36% year-on-year as MBE system sales quadruple

Tags: Riber MBE

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